βMudrex: Your Crypto Compass in a Wild West
Imagine venturing into the exciting world of cryptocurrency β a place with tons of potential rewards but also unfamiliar territory. Don't worry, adventurous investor! Mudrex is your trusty guide, here to equip you with the tools and knowledge to navigate your way to financial success.
Mudrex isn't just another crypto exchange. It's a complete platform designed for investors of all experience levels. Think of it as a one-stop shop where you can:
- Invest Your Way: Explore a vast selection of over 350 cryptocurrencies, from established players like Bitcoin to exciting new ventures. Mudrex lets you choose your own path, whether you're a seasoned coin collector or just starting out.
- Spread Your Bets: For those seeking a balanced approach, Mudrex offers pre-made "Crypto Baskets" β collections of tokens that cater to specific market trends. Think of them as investment packages that allow you to tap into diverse opportunities without picking individual coins.
- Keep an Eye on Things: Mudrex keeps all your crypto holdings neatly organized in one place. Track performance, analyze trends, and make smart decisions easily. It's like having a personal financial dashboard, giving you a clear view of your crypto investments.
- Start Small, Dream Big: Mudrex believes that anyone can participate in the crypto revolution. Begin your investment journey with just βΉ100 and leverage features like SIP (Systematic Investment Plan) to build wealth gradually over time. It's a long-term game, and Mudrex helps you pace yourself for the future.
What is the core value prop for Mudrex?
Simplifying crypto investing for everyone by providing them with:
- Variety and Choice: Explore a vast universe of currencies and craft your own investment strategy.
- Effortless Investment: Invest directly or leverage pre-built baskets β no blockchain expertise needed.
- Investing for Every Pocket: Start small with SIP for a disciplined approach.
- Knowledge is Power: Mudrex Learn equips you with resources to understand the crypto world.
- All-in-One Platform: Track performance, analyze trends, and manage your portfolio with ease.
In essence, Mudrex cuts through the complexity of cryptocurrency investing, empowering you to take control of your financial future with confidence. It's your crypto compass, guiding you through the wild west and towards your investment goals.
How does User experience core value?
From the moment you land on Mudrex, the platform delivers on its promise of simplifying crypto investing.
- Effortless Onboarding: A clean and intuitive interface welcomes you and provides you with information to start you journey. No crypto expertise needed to get started.
- Mudrex presents a variety of investment options tailored to your needs. Whether you're a complete beginner or a seasoned trader, you'll find the right fit:
- New investors can start small with just βΉ100 and leverage SIP for a disciplined approach.
- Experienced users can explore a vast selection of over 350 cryptocurrencies, including established coins and emerging tokens. Pre-built Crypto Baskets offer diversified exposure, or you can delve into advanced features like Bit15 (options trading for Bitcoin).
- Mudrex Learn, the platform's educational center, becomes your crypto companion. In-depth resources empower you to understand the complexities of the crypto world, build a strong foundation, and make informed investment decisions.
Daily Usage: - Buying, selling, and managing your crypto portfolio becomes effortless. Mudrex's streamlined platform allows you to track performance, analyze trends, and make smart decisions with ease. It's your personal crypto control center, all in one place.
- Investment calculators like SIP and returns calculators are readily available, giving you the tools to confidently navigate your crypto journey.
- Supportive Environment and Community Channels: They address your questions clearly and concisely, ensuring a smooth and stress-free experience. And helps with navigating the crowded crypto space
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What makes an Active user for Mudrex?
An active Mudrex user frequently buys, sells, or manages their crypto portfolio using the platform's features. This may include:
- Frequent logins to track performance and make investment decisions.
- Utilizing investment options like SIP, baskets, or individual coin purchases.
- Engaging with educational resources or investment calculators.
- Potentially using advanced features like Bit15 (for experienced users)
- Setting up price alerts for specific cryptocurrencies shows an active user who is closely monitoring the market.
Engagement Framework
Natural frequency of the core value proposition
The natural frequency for Mudrex can be segmented based on user engagement levels:
- Casual Users: Engage with Mudrex 2-3 times a month, primarily for monitoring portfolio performance or making occasional investments.
- Core Users: Engage with Mudrex 6-7 times a month, actively managing their portfolios, exploring new investment opportunities, and utilizing automated investing tools.
- Power Users: Engage with Mudrex 5 times a week, deeply involved in cryptocurrency trading, frequently adjusting their portfolios, and leveraging advanced features like options trading.
Here's why these estimates are reasonable(Especially during the Bull Market):β
- Cryptocurrency market volatility: The inherently volatile nature of cryptocurrency markets might prompt active users to check their portfolios and make investment decisions more frequently compared to users in stable markets.
- Investment style: Mudrex caters to a range of investment styles. Casual users might adopt a "buy and hold" strategy, checking in less frequently. Active users might engage in more frequent buying, selling, and portfolio management.
- Platform features: Features like SIP (Systematic Investment Plan) encourage a more regular investment approach, potentially increasing user frequency for those strategies.
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User Segmentation based on usage of Mudrex's various featuresβ
User Type | CoinSets | Coins | Vault | Bit15 | Investment Calculators | Portfolio and Watchlist Tracking | Reason |
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Casual | 2/month | Occasional | Rarely | Not for me | Rarely | Occasional | Just looking to diversify their investments and are not really and active Crypto Player β |
Core | 5/month | 3-4times/month | Occasional | Rarely | Frequently | Regularly | Looking to generate multiple X's from their investments and are active user of the Coins features |
Power | 10+ times/month | 4-5 times/week | Occasional | Frequently | Frequently | Daily | Spends good chunk of time trading and investing in crypto, consumes information, invests in risky coins - A full Degen β |
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Segmentation ( ICP Based )
β | ICP 1(Rahul) | ICP 2(Bhavana) | ICP 3(Mukesh) |
Age | 22 | 30 | 48 |
City | Tier 1 | Tier 2 | Tier 2 |
Gender | Male | Female | Male |
Occupation | Unemployed | Employed | Business |
Marital Status | Unmarried | Married | Married |
Income | PocketMoney | 2.5Lakhs/m | 3-5Lakhs/m |
Investing Income(On an avg) | 20k/m | 50-60k/m | >1L/m |
Crypto Investments | Memecoins, low cap coins | ETH, SOL, INJ(investment into top 200 coins) | BTC |
Investment Strategy | Degen(MemeCoins) | Degen+BlueChip | Only Bitcoin |
Time Spent in Crypto/week | >10 hrs | 5-7hrs | 1-3hr |
Where you get your crypto information from | Twitter(X), Youtube, TG | Youtube, Twitter(X), Investing Groups, Newsletter | Financial News, Mudrex Newsletter |
Since when have you been investing in crypto | 3 Years | 5 Years | <1 year |
Where do you spend time? | Watching Movies or TV Shows, Listening to Music or Podcasts, Chilling with friends | Exploring new places with family, Watching movies and Music | Family time, Community Socialising and TV |
Most used social media apps | Youtube, Telegram, Netflix, Spotify | Netflix, Instagram | News Portals, Whatsapp |
Why Mudrex | For trading | For building crypto portfolio | For diverse investment into crypto |
How did you discover Mudrex | - | Newsletter | Telegram Group |
Which Mudrex service offering you use | Coins | Coins, Coinsets and Vaults | Coinsets, Coins |
Primary device to access the platform | Webapp/Mobile App | Mobile App | Mobile App |
Favorite feature/use case of Mudrex | Coins, Bit15, Onramp, Watchlist | Coins, Coinsets, Calculators | Coinsets, Mudrex Learn |
How often do you use? | 5-6 times/week | 6-7 times/month | 1-2times/month |
What featues you dont really use | Vault | - | Bit15 |
Ever thought about switching product? | I am on multiple platforms | Yes, I am on multiple platforms | No |
What is annoying you? | Not getting new, trending coins quickly | Customer Service | - |
What improvement/additional service that Mudrex can offer to improve your experience and frequency? | Frequent new coins onboarding | More Coinsets and coins options | - |
ICP Type | Power | Core | Casual |
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Selection of Engagement Frameworkβ
Framework | Focus | Reasoning | Selection |
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Frequency | - Encouraging regular user interactions with the platform, such as Learn, trade, and portfolio management.
- Cultivating platform stickiness and user loyalty, indicating the perceived value of Mudrex's offerings and active engagement.
β | In a competitive market, increasing frequency fosters user loyalty, ensuring Mudrex remains the preferred choice for crypto investing. | Primary |
Breadth | - Offering a diverse range of features and services, including Coinsets, Individual Coin Investing/Trading, Vaults, and Investment Calculators.
- Attracting a wider user base and encouraging existing users to explore different aspects of the platform.
| Comprehensive offerings reduce the need for users to switch between multiple platforms, driving overall platform growth and user satisfaction. | Secondary |
Depth | - Enhancing the depth of user engagement in terms of time spent on the platform and the value of investments.
- Creating hooks for user to trade more on the platform
| Tailored experiences cater to users' individual needs and preferences, ultimately enhancing user satisfaction and platform usability. | No |
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βDefine Engagement Hook
Gamified Low-Risk Investment Opportunities (Casual Users):β
- Goal: Attract casual investors and encourage them to make their first investment with Mudrex through gamified low-risk crypto investment options.
- Success Metric: Increase in the number of new sign-ups, percentage of users making their first investment, and growth in Coinset investments with points earned through gamification.
- Problem Statement: Casual investors are hesitant to enter the cryptocurrency market due to perceived risks and lack of knowledge.
- Solution (Summary): Mudrex offers curated Coinsets with gamified elements to incentivize low-risk crypto investment. Users earn points for learning and investing, fostering engagement and smart investment choices.
User Flow:β
- User lands on Mudrex website or app.
- Personalized Onboarding: During a user-friendly onboarding process, Mudrex recommends pre-built Coinsets based on the user's risk tolerance and investment goals through a questionnaire or visual selection tool.
- Investment & Learning: The user explores curated Coinsets and discovers educational modules about low-risk crypto strategies.
- Invest & Earn Points: The user invests in a Coinset and completes educational modules, earning points for both activities.
- Gamified Experience: The user visits the "Rewards" section and discovers the various in-app rewards they can redeem with their points, like bonus interest on SIP contributions, fee discounts, and virtual badges.
- Leaderboards (Optional): The user can choose to opt-in to view leaderboards showcasing top earners, fostering friendly competition and encouraging informed investment decisions.
- Investment Journey Continues: The user continues to invest, learn, and earn points, experiencing a more engaging and rewarding crypto investment journey.
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- Metrics to Track: Number of new sign-ups, user completion rate of educational modules, percentage of users making their first investment, redemption rate of in-app rewards, user engagement with leaderboards.
- Ramp-up Milestones: Achieve a 20% increase in new sign-ups within the first two months, increase the completion rate of educational modules by 15%, and ensure a 30% redemption rate for in-app rewards within the first quarter.
Advanced Trading Tools and Features (Core Users):β
- Goal: Engage core users by providing advanced trading tools and features for executing complex strategies.
- Success Metric: Increase in trading volume and frequency among core users, and positive user feedback on the functionality and effectiveness of advanced features.
- Problem Statement: Core users seek sophisticated tools and features beyond basic investment options offered by most platforms.
- Current Alternative: Using multiple platforms or tools to fulfill their trading needs, leading to inefficiency and fragmentation.
- Solution (Summary): Mudrex provides a comprehensive toolkit with features like automated trading bots, backtesting capabilities, and Bit15 options trading (for experienced users only). This empowers core users to craft advanced strategies and optimize their portfolios.
User Flow:
- User lands on Mudrex website or app.
- Exploring Features: The user navigates the platform and discovers features like automated trading bots, backtesting capabilities, and access to Bit15 options trading (for experienced users only).
- Learning & Experimentation: The user explores tutorials and educational resources within the platform to learn how to leverage these advanced features effectively.
- Trading & Optimization: The user utilizes advanced features to craft personalized trading strategies, backtest their strategies to optimize performance, and execute trades with greater control.
- Metrics to Track: Trading volume per user, frequency of trades, user satisfaction with advanced features through surveys and feedback mechanisms.
- Ramp-up Milestones: Achieve a 30% increase in trading volume among core users within the first quarter and maintain a user satisfaction score of 8/10 or higher for advanced trading features.
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Personalized Portfolio Insights (All Users):
- Goal: Enhance user engagement by offering personalized insights and analytics for portfolio management.
- Success Metric: Increase in user engagement with portfolio insights features, user satisfaction with the quality and usefulness of insights, and overall investment activity based on data-driven recommendations.
- Problem Statement: Users of all levels struggle to analyze their cryptocurrency portfolios effectively, leading to suboptimal investment decisions.
- Current Alternative: Manual portfolio analysis using external tools or relying on intuition, potentially leading to missed opportunities or unnecessary risks.
- Solution (Summary): Mudrex provides personalized portfolio insights powered by AI. Users receive comprehensive performance analytics, risk assessments, and tailored recommendations for portfolio optimization. This actionable data empowers them to make informed choices and achieve their investment goals.
User Flow:
- User logs in to Mudrex and accesses their portfolio.
- Personalized Insights: Mudrex automatically generates a comprehensive portfolio analysis report highlighting performance, risk assessment, and tailored recommendations for portfolio optimization. The report may include visualizations, charts, and clear explanations.
- Actionable Data: The user reviews the insights and considers making adjustments to their portfolio allocation based on the data and recommendations provided. Mudrex might offer tools to facilitate these adjustments within the platform.
- Ongoing Monitoring: The user continues to monitor their portfolio performance and utilizes personalized insights to make informed investment decisions over time. Mudrex can offer automated alerts or updates based on market changes or portfolio performance.
- Metrics to Track: User engagement with portfolio insights features (frequency of access, time spent), user satisfaction with the quality and usefulness of insights, number of investment decisions made based on recommendations, overall portfolio performance improvement.
- Ramp-up Milestones: Achieve a 20% increase in user engagement with portfolio insights features within the first two months, maintain a user satisfaction rating of 7/10 or higher for insights quality, and witness a 10% improvement in average portfolio performance (based on a chosen metric) within the first quarter.
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Trading Community (Casual and Core Users):
- Goal: Create a supportive community environment where both casual and core users can learn, collaborate, and share insights about cryptocurrency investing.
- Success Metric: Increase in user participation within the community (e.g., forum posts, Q&A sessions), positive sentiment analysis of community discussions, and user-reported value gained from interacting with the community.
- Problem Statement: Casual investors lack access to reliable information and guidance, while core users crave a network for knowledge exchange.
- Current Alternative: Relying on external forums or social media groups with potentially unreliable or low-quality content.
- Solution (Summary): Mudrex fosters a supportive community environment with dedicated spaces for both casual and core users. Newcomers can access beginner-friendly educational resources, participate in Q&A sessions with experts, and learn from experienced traders. Core users can contribute knowledge, engage in market discussions, and network with like-minded individuals.
- βMetrics to Track: Community membership growth, engagement levels from both casual and core users, user feedback on the value of community interactions.
- Ramp-up Milestones: Achieve 500 community members within the first two months, maintain a balanced participation ratio between casual and core users, with at least 30% of users actively engaging in discussions.
Personalized Onboarding with Exclusive Investment Opportunities (Core & Power Users):β
- Goal: Streamline onboarding for core and power users while showcasing the value of exclusive investment opportunities offered by Mudrex.
- Success Metric: Increase in user satisfaction with the onboarding process, user adoption of exclusive investment features, and overall investment activity among core and power users.
- Problem Statement: Core and power users may find generic onboarding irrelevant and lack awareness of advanced features on the platform.
- Current Alternative: Exploring features and opportunities on their own within the platform or relying on external resources.
- Solution (Summary): Personalized onboarding tailors the experience based on user type, highlighting relevant features and exclusive investment opportunities.
User Flow:
- User lands on Mudrex website or app.β
- Assessment: During onboarding, the user takes a short quiz or skill assessment to determine their experience level.
- Personalized Journey: Based on the assessment results, Mudrex tailors the onboarding experience.
- Core Users: See a streamlined process highlighting features like backtesting and automated trading bots, with clear explanations and tutorials.
- Power Users: Encounter challenges related to complex investment strategies. Upon successful completion, they unlock exclusive features like early access to new coins, VIP account features, and curated investment strategies.
- Exclusive Opportunities: Users are introduced to the "Exclusive" section within the platform, showcasing the benefits of these options like early access to promising new coins and premium features.
- Explore & Invest: Users can explore the details of exclusive opportunities and choose to invest based on their risk tolerance and investment goals.
- Metrics to Track: User satisfaction rating for onboarding, adoption rate of exclusive investment features, trading volume and frequency within exclusive opportunities.
- Ramp-up Milestones: Achieve a user satisfaction rating of 8/10 or higher for onboarding within two months, ensure a 15% adoption rate of exclusive features by core users, and witness a 25% increase in trading volume within exclusive opportunities for power users within the first quarter.
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Engagement campaigns
Campaign 1: Gamified Coinset Quest (Casual -> Core Users):
- Segmentation: Casual Investors
- Goal: Increase investment activity and completion of educational modules through gamification.
- Pitch/Content: "Embark on a Crypto Quest & Conquer the Market! Invest in curated Coinsets, learn & earn points to unlock badges and rewards." (Showcasing a gamified version of the quest journey)
- Offer: Points redeemable for bonus interest on SIPs, fee discounts, and virtual badges signifying investment milestones.
- Frequency and Timing: Ongoing campaign with new quest themes introduced quarterly to maintain user interest.
- Success Metrics: Increase in Coinset investments, completion rate of educational modules associated with the quest, user redemption rate of in-app rewards.
Campaign 2: Level Up Challenge (Core -> Power Users):
- Segmentation: Core and Power Users
- Goal: Encourage exploration of advanced features and participation in exclusive investment opportunities.(Breadth)
- Pitch/Content: "Level Up Your Crypto Game! Take quizzes, explore pro features, and unlock exclusive investment opportunities to become a Mudrex Master."
- Offer: Early access to new coins, VIP account features with Private Discord investment groups and participation in exclusive AMAs with crypto influencers.
- Frequency and Timing: Time-bound challenges offered bi-monthly to incentivize active participation.
- Success Metrics: Adoption rate of new features by core users, participation in exclusive investment opportunities, user satisfaction with the challenge format.
Campaign 3: Portfolio Insights Hub (All Users) -> Personalized Portfolio Insights
- Segmentation: All Users (tailored content for each segment)
- Goal: Enhance user engagement by offering personalized insights and analytics for portfolio management.
- Pitch/Content: "Get Smarter About Your Crypto Investments! Leverage personalized insights to analyze your portfolio, identify risks, and optimize performance." (Showcasing a user interface preview of the insights dashboard)
- Offer: In-depth portfolio analysis reports with actionable recommendations and educational content on interpreting the data.
- Frequency & Timing: Automatic generation of portfolio insights reports at regular intervals (e.g., monthly) and targeted content based on user behavior
- Success Metrics: Increase in user engagement with portfolio insights features, user satisfaction with the quality and usefulness of insights, number of investment decisions made based on recommendations, overall portfolio performance improvement.
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Campaign 4: Crypto Buddies (Casual & Core Users) -> Trading Community
- Segmentation: Casual and Core Users
- Goal: Create a supportive community environment where both casual and core users can learn, collaborate, and share insights about cryptocurrency investing.
- Pitch/Content: "Join the Crypto Buddies Community! Learn from Experts, Share Insights, and Connect with Fellow Crypto Enthusiasts." (Showcasing a vibrant and engaging community forum)
- Offer: Q&A sessions with industry experts, dedicated beginner-friendly resources, gamified community challenges with rewards.
- Frequency & Timing: Ongoing community management with regular content updates, contests, and AMAs (Ask Me Anything) sessions.
- Success Metrics: Community membership growth, engagement levels from both casual and core users (posts, comments, discussions), user-reported value gained from interacting with the community.
Campaign 5: Exclusive Access (Core & Power Users) -> Personalized Onboarding with Exclusive Investment Opportunities
- Segmentation: Core, and Power
- Goal: Streamline onboarding for core and power users while showcasing the value of exclusive investment opportunities offered by Mudrex.
- Pitch/Content: "Unlock Exclusive Investment Opportunities & Elevate Your Crypto Journey! Personalized onboarding awaits, highlighting advanced features and exclusive investment options." (Showcasing a sneak peek of the exclusive features section)
- Offer: Early access to promising new coins, VIP account features with dedicated support, curated investment strategies based on user preferences.
- Frequency & Timing: Personalized onboarding experience during signup and targeted communication about new exclusive investment opportunities.
- Success Metrics: User satisfaction rating for onboarding, adoption rate of exclusive investment features, trading volume and frequency within exclusive opportunities.
Campaign 6: Crypto Social Media Insights Report (All Users):
- Segmentation: All Users (Casual, Core, and Power)
- Goal: Increase retunring traffic to the platform, Enhance brand awareness, establish Mudrex as a thought leader, and provide valuable market analysis.
- Pitch/Content: "Stay Ahead of the Curve with Mudrex's Crypto Social Media Insights Report! Uncover trending topics, identify hidden gems, and make informed investment decisions." (Free downloadable report with key data visualizations)
- Offer: Access to a high-quality, data-driven report analyzing current cryptocurrency trends and social media sentiment.
- Frequency and Timing: Quarterly publication of the Crypto Social Media Insights Report.
- Success Metrics: Report downloads, social media shares of the report, website traffic from the report landing page.
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Campaign 7: Crypto Prediction Tournament (All Users):
- Segmentation: All Users (Casual, Core, and Power)
- Goal: Boost user engagement and community interaction through a friendly prediction competition.
- Pitch/Content: "Think You're a Crypto Guru? Put Your Skills to the Test in the Mudrex Prediction Tournament! Compete for glory and exciting prizes." (Social media posts with engaging crypto trivia)
- Offer: Prizes for the top predictors, including merch, free subscriptions to premium crypto research reports, and bonus trading credits.
- Frequency and Timing: Recurring monthly tournaments with varying difficulty levels to cater to all user segments.
- Success Metrics: Number of user registrations for the tournament, social media engagement with the campaign hashtag, overall participation and completion rate within the tournament.
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Campaign 8: Referral Rewards Program (All Users):
- Segmentation: All Users (Casual, Core, and Power)
- Goal: Leverage user network effects to acquire new sign-ups and increase platform adoption.
- Pitch/Content: "Crypto Gains with Friends! Refer your friends to Mudrex and earn rewards for both of you. The more you refer, the more you earn!" (Referral code with a visually appealing landing page)
- Offer: Two-sided referral rewards with bonus trading credits or discounts for both the referrer and the referred user upon successful sign-up and investment.
- Frequency and Timing: Ongoing program with potential bonus incentives during peak investment periods.
- Success Metrics: Number of new user sign-ups acquired through referrals, growth in overall user base, redemption rate of referral rewards.
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Retention
The following information is a guesstimate based on industry benchmarks and common user behaviour on cryptocurrency investment platforms.
Retention Curve:
The chart below depicts a possible user retention curve for Mudrex, with a steeper drop-off in the initial stages and a gradual flattening after the first 3 months.
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Retention Rates (Guesstimate):
- Day 0 (First Transaction): 100% (Starting point after users make their first investment or trade)
- Day 7: 60% (Potential drop due to initial platform exploration, price volatility, or lack of understanding)
- Day 30: 40% (Users who continue trading and see value in the platform are more likely to stay engaged)
- Day 90: 25% (Retention starts to flatten as core users establish their trading routines)
- Month 6: 20% (Long-term retention with potential churn due to market fluctuations or changing investment goals)
- Month 12: 18% (Users who actively manage their portfolios and find the platform valuable may remain engaged)
Reasoning for Dips:
- Day 7 Dip: This initial drop can be attributed to several factors:
- Price Volatility: The inherent volatility of cryptocurrency markets can discourage new users who experience price fluctuations shortly after their first investment.
- Platform Complexity: Users might find navigating the platform's features and functionalities challenging, leading to discouragement.
- Lack of Understanding: New users may require additional resources or support to understand cryptocurrency concepts and trading strategies effectively.
- Day 30 Dip: Users who haven't actively engaged in trading or haven't seen significant returns might lose interest or find alternative platforms that better suit their needs.
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Factors Influencing Retention (Analysis):
- ICPs with Best Retention:
ICP 1 > ICP 3 > ICP 2 - ICP 1: Experienced crypto investors drawn to Mudrex's advanced features like automated trading bots and diverse list of coins to invest. They appreciate the platform's diverse range of investment options tailored to their speculative nature, fostering high engagement and retention.
- ICP 3: Risk-averse investors using curated Coinsets, Coinsets users have 90% retention rate as per Mudrex's analytics insight. Gamification and low-risk investment options can encourage them to stay engaged and gradually build their confidence. Prioritising ICP 3 over 2 is because this subset though is a group of Casual users but they are High Net Worth users who are looking to diversify. Plus they are the user type for whom Coinsets and Vaults like products were created in the first place.
- Acquisition Channels with Better Retention:β
- #1. Organic Search: The Direct Path to Retention (73% of Visits)
Mudrex's impressive direct traffic (73% based on Semrush) highlights the power of organic search. Users likely find Mudrex by searching for relevant keywords, indicating a strong initial interest and intent to invest. This targeted audience is more likely to convert and become high-retention users, especially if Mudrex optimizes its website content for relevant crypto investment terms. - #2. Referral Programs and Word-of-Mouth: Trust Breeds Loyalty
Mudrex's focus on security and compliance, evident by its FIU registration, fosters trust - a valuable asset in the crypto industry. This, combined with the general prevalence of referral programs in crypto, positions word-of-mouth (WoM) and referrals as a strong acquisition channel. Satisfied users recommending Mudrex to their network can lead to high-retention customers who value the platform's security and community aspects. - #3. Community Engagement: Building Relationships for the Long Haul
Insights from user interviews reveal that conferences and industry publications like Data Insight play a role in user acquisition for Mudrex. By actively engaging in the crypto community through conferences, AMAs, and social media discussions, Mudrex can connect with potential users who share their values and investment goals. This fosters a sense of belonging and can lead to long-term user retention.
- Sub-Features/Products Driving Retention:
- Coinsets: Retention Magnet (90% Retention), it empowers users, particularly those new to crypto, with a low-risk, pre-diversified investment approach
- Advanced Features for Power and Core Users
- Personalized portfolio insights with actionable recommendations can empower users to make informed decisions and feel confident in their investment strategy.
- The Crypto Social Media Insights Report showcases Mudrex's expertise and provides valuable data, encouraging users to rely on the platform for market analysis.
Additional Considerations:
- Onboarding Experience: Streamlining onboarding based on user experience level can reduce initial confusion and encourage continued platform exploration.
- Educational Resources: Providing user-friendly educational resources and tutorials for various investment strategies can empower users and keep them engaged.
- Customer Support: Prompt and helpful customer support can address user concerns and build trust, reducing churn.
- Community Building: Fostering a supportive community environment can provide users with a sense of belonging and encourage knowledge sharing, leading to higher engagement
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Churn Reasons
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Reasons | Type | Explanation |
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Bear Market | Involuntary | Market downturns can lead to losses and discourage users from actively investing. |
Incurred Losses | Involuntary | Losses can be a result of market fluctuations, poor investment choices, or unrealistic expectations. |
Lack of Crypto Knowledge | Voluntary/Invoulantary | Users unfamiliar with cryptocurrency basics, volatility, and use cases might struggle and lose confidence. |
Complicated Platform | Voluntary | A complex user interface or confusing investment process can frustrate users and lead to churn. |
Inadequate Customer Support | Voluntary | Unresolved issues or slow response times from customer support can lead to user frustration and platform abandonment. |
Tried Crypto, Not a Fit | Involuntary | Users might experiment with crypto but ultimately decide it's not for them due to personal risk tolerance or investment goals. |
Onramping/Offramping Issues | Voluntary | Difficulty depositing or withdrawing funds can be a significant inconvenience and discourage users. |
Limited Coin Selection | Voluntary | Users seeking a wider variety of cryptocurrencies beyond Mudrex's offerings might look elsewhere. |
Low Liquidity | Voluntary | Low liquidity for a specific cryptocurrency can make it difficult to buy or sell at desired prices, leading to frustration. |
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Negative Actions to Look Out for π¨
- Login Frequency: Decrease in login frequency compared to their usual pattern.
- Casual Users : drop by 50% in the last 2 quarters
- Core Users : drop by 30% in the last 3-4 months
- Power Users : drop by 30% in the last 1-2 months
- Platform Activity: Drop in user habits frequency towards user targeted product features
- Reduced investment activity or transactions on the platform
- Disabling Notifications
- App uninstall
- Negative App Reviews
- Increasing number in support tickets
- Stopped SIP or Automated Investing without initiating a new investment
- Lower CSAT
- Taking the issue to social media/community channels
- Stopped tracking portfolio or watchlists
- Not reading mails or push notifications
- Large withdrawals or liquidation of assets from the platform without reinvestment elsewhere
- Extended periods of inactivity or dormancy on the platform
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Resurrection campaignβ
Campaign #1: Rekindle the Spark (Lost Coinset Investor)β
- Why: Users who were previously successful with Coinsets might be disengaged due to market fluctuations or a lack of new investment options.
- Solution: Mudrex reignites their interest by highlighting the continued strong performance of Coinsets and offering exclusive access to a new high-performing option.
- Segmentation: Users who were highly engaged with Coinsets (90% retention suggests past interest) but haven't logged in recently.
- Pitch/Content: "Hey there, Coinset connoisseur! We noticed you haven't been around lately. But guess what? Our curated Coinsets are crushing the market! Don't miss out on the gains. We've launched an exclusive, high-performing Coinset with limited-time discounted fees. Reignite your crypto spark and explore new investment opportunities with Mudrex!"
- Offer: Exclusive access to a new, high-performing Coinset with a limited-time discount on management fees.
- Channel: Targeted email campaign 1 month after inactivity, followed by a retargeting ad 2 weeks later.
- Frequency & Timing: Two touches within a six-week period.
- Success Metrics: Increased login rate, Coinset investment within the campaign period, click-through rate on the retargeting ad.
Campaign #2: Revive Your Crypto Journey (Portfolio Underperformance - Core & Casual Users)
- Why? Many users experience portfolio downturns, leading to discouragement and inactivity.
- Solution: Mudrex can offer personalized portfolio reviews and insightful reports to help users understand their holdings, identify opportunities, and get back on track with their investment goals.
- Segmentation: Core and Casual Users who haven't logged in recently and whose portfolios are showing negative performance.
- Pitch/Content: "Feeling the crypto blues? Don't let a temporary dip sideline you! We'll provide a complimentary in-depth portfolio review, highlighting hidden gems and suggesting strategies to weather the storm. Get back in control and reignite your crypto journey!"
- Offer: Free Portfolio Review with a personalized report tailored to the user's investment goals and risk tolerance.
- Channel: Email (D7 after inactivity), followed by a Push Notification (D14).
- Frequency & Timing: Two touches within a two-week period.
- Success Metrics: Increased login rate, user engagement with the portfolio review report, investment activity within the campaign period.
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Campaign #3: Level Up Your Crypto Journey (Inactive Power User)
- βWhy? Power users who were previously active might lose momentum due to various reasons.
- Solution: Mudrex nudges them back by showcasing their past success and highlighting current market opportunities.
- Segmentation: Inactive Power Users with a history of high trading volume who haven't logged in recently.
- Pitch/Content: "Remember your winning streaks? The market's booming, and you're not here to witness it! Recall your past triumphs with Mudrex [Data visualization of past returns]. We've missed your expertise. Trade commission-free for a limited time and reignite your trading spark!"
- Offer: Free Trading for a set period (e.g., 1 week) with waived trading commissions. Provide access to insights and market analysis tools.
- Channel: Email (D7 after inactivity) with a personalized subject line mentioning past returns, followed by a retargeting ad (D10) showcasing current market performance.
- Frequency & Timing: Two touches within a ten-day period.
- Success Metrics: Increased login rate, trading activity during the free trading period, user feedback on the campaign.
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Campaign #4: Addressing Your Concerns (Support Issue Churn)β
- Why? Users who churned due to negative support experiences require a sincere apology and a commitment to improvement.
- Solution: Mudrex acknowledges the issue, apologizes for the experience, and showcases efforts to improve customer support.
- Segmentation: Users who churned after contacting support with unresolved issues.
- Pitch/Content: "We value your feedback. We sincerely apologize for the recent support experience. We've revamped our support infrastructure to ensure a smoother experience. Give us another chance! We're here to help you achieve your crypto goals."
- Offer: Personalized outreach from a dedicated support representative to address the user's specific concerns.
- Channel: Email (D7 after churn) with a personalized subject line acknowledging the support issue.
- Frequency & Timing: One email within a week of churn.
- Success Metrics: User response rate to the outreach email, number of users re-engaging with support, sentiment analysis of user feedback.
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Campaign #5: FOMO Fix (Tried Crypto, Not a Fit)β
- Why? Some users who experimented with crypto might decide it's not for them. Mudrex aims to maintain a positive relationship and offer alternative solutions.
- Solution: Mudrex provides educational resources and highlights potential benefits of crypto compared to traditional investments. They also offer AI-powered portfolio curation for various risk profiles.
- Segmentation: Users who signed up and made a small investment but haven't logged in recently.
- Pitch/Content: "Unsure if crypto aligns with your investment goals? We understand. Explore our free learning resources to gain clarity on the crypto landscape. Did you know crypto can outperform traditional investments? [Data visualization comparing traditional vs. crypto gains]. Let our AI curate a portfolio based on your risk tolerance. Give crypto another chance, with guidance from Mudrex!"
- Offer: Access to a curated selection of educational resources about cryptocurrency and traditional investment comparisons. Additionally, provide a free trial of AI-powered portfolio curation for a limited time.
- Channel: Email (D14 after inactivity) with a subject line sparking curiosity about crypto's potential.
- Frequency & Timing: One email within two weeks of inactivity.
- Success Metrics: Increased website visits, exploration of low-risk investment options, re-engagement with the platform.
Campaign 6: We Miss You (Casual Investor)
- Why: Casual investors who logged in infrequently might be overwhelmed by the fast-paced crypto market or unsure of new investment opportunities.
- Solution: Mudrex re-engages them with educational content on trending cryptocurrencies and incentivizes investment with a bonus reward.
- Segmentation: Users who logged in infrequently (1-2 times/month) and haven't made any investments recently.
- Pitch/Content: "Hey [User Name], We miss you! The crypto landscape is constantly evolving, and we haven't seen you around lately. Feeling lost in the fast-paced world of crypto? Don't worry, Mudrex Learn has you covered! Explore our exclusive educational content on trending cryptocurrencies and investment strategies. Plus, make your next investment and receive a bonus reward to jumpstart your crypto journey again!"
- Offer: Access to exclusive educational content on trending cryptocurrencies and a bonus reward for their next investment.
- Channel: Personalized email with relevant crypto news and investment tips sent quarterly.
- Frequency & Timing: One personalized email every quarter.
- Success Metrics: Increased login rate, engagement with educational content (e.g., time spent reading articles, video completion rates), investment activity within the quarter, redemption rate of the bonus reward.
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