FXCM, the top trading platform in the Forex market, reached out to have a conversation about their inordinately high bounce rate throughout their marketing site. The primary goal of the experience is to convert users to either practice or live trading accounts and the site was severely under-performing, as unique numbers were low, conversion paths were avoided and generally speaking, users would often land on key pages, yet immediately bounce back to search results with rates on pages consistently found in the high-70% range.
My recommendation for starting the engagement was to run a heuristic evaluation with a written report, which would allow me to digest the entire experience while scoring the site across a number of explicit information architecture, ui design and content standards.
The average score of the review (on a 1-5 scale, per heuristic) ended up as a 2.3 and the following were suggested as key issues to focus on in a redesign:
- Prioritize content based on primary design persona needs and context scenarios
- Make navigation more shallow, narrow and simplistic
- Be consistent with the language, form and function of site elements
- Increase the signal to noise ratio with prudent information design decisions
- Invest in making users lives easier
- Provide both contextual and destination help
After a few meetings with management, we agreed to take on the project to redesign the site, as well as provide specifications for an onboarding experience.
Post-review of the site experience, it became clear that it was speaking to everyone, yet no one in particular. This scatter approach was found in the navigation (see above), educational pages, product descriptions—clear across the site. Since archetypical user scenarios weren’t being supported, the text meandered and subsequent additions to content began to sprawl. The same could be said for new call-to-actions and large-scale additions to the site architecture; the target was wide and design standards weren’t being followed.
We didn’t have the budget to interview a wealth of potential and actual clients, so we sat down with the marketing team and walked through their understanding of who was actually coming to the site and who they wanted to visit. After weeks of reviewing market research, and speaking to SME’s across the firm, we agreed on an approach to create “stake-in-the-ground” design personas—a first step to understanding user expectations so we could create an experience that matched their mental model, provide useful information in an organized fashion and lead these users more naturally towards conversion paths.
The expectations and needs uncovered through this process led the editorial team to implement a calendar to craft a wealth of information about forex trading—from an Advantages section for the seasoned forex trader not familiar with FXCM to a Basics section for the traditional stock trader interested in forex, but doesn’t understand how it works. Simplifying the message—speaking directly to potential clients in ways they could understand—made our job easier in simplifying navigation, as well as creating recognizable affordance through a limited palette.
We began on the landing page, as historically, a large percentage of traffic from keyword buys directed potentials to the front door. Our primary concern was to provide clear paths to potential clients; creating an evergreen home for sign-up conversion in the header, provide a first visit on-boarding experience for forex platform newbs, a clean hero messaging area and spots to bubble up events, seminars and educational videos.
Once we had a satisfactory structure in place, we presented a persona-laden sketch of the information design, essentially highlighting which section would speak to which user(s). The following presentation pitch of the homepage wire was a formality at that point.
In terms of conversion, we stressed the importance of keeping paths in consistent areas of the site—both in the header and in the rail of content pages. We assigned a specific color to the practice account CTA so it would stand out across the site, and clearly described what it involved above the fold on the homepage. This provided a clear expectation for what a potential client would receive when entering the first phase of the purchase cycle.
On content pages, we reduced the process for submitting information from a destination wizard to embedding five simple fields for signing-up within a practice account module, which greatly cut down on bounces. Along with the editorial shift—posting new content to a calendar, speaking directly to the needs of both potential and active forex users—organic-driven unique visitors increased immensely, which directly impacted conversion rates.
- November 2012 (first month after launch) Practice & Account Conversion Rates increased to all-time highs and about 3 times the average.
- Page Views & Unique Visitor reached an all-time high and Bounce rate dropped ~20% site-wide