Web2 strategies that help overcome poor onboarding in Web3

At first, CoinStats had this: poor value proposition, big security concerns, users that didn't know how to connect the wallet.
Now it’s the largest crypto & DeFi portfolio management platform with over 1.2M active users.

How come?

1️⃣ Clear instructions. They added a step-by-step explanation on how to connect the portfolio to their main page. It’s easy to follow and reduces users' confusion — always a win if you want to prevent users from having bad first experience with your product.

2️⃣ Security statement. The team included it to ensure the users that they’re super safe:

«We are only requesting view permissions. This does not give us access to your private keys nor the ability to move your funds. We only need this to show you your portfolio performance and analytics.»

3️⃣ Adding reviews by key opinion leaders. Such reviews helped to build trust, provide social proof, and address some of users’ concerns.

4️⃣ Showing the value proposition in action. It was done in a form of a pop-up with critical insights about the user’s portfolio performance.

Results:

— 4x the daily number of users who connect at least 1 portfolio;
— 8% increase in W1 retention;
— 30% conversion rate from the onboarding flow;
— 34% conversion rate from the portfolio analytics pop-up in the onboarding.

This case study was shared by Vahe Baghdasaryan, Sr Growth Marketing Manager at CoinStats. Vahe is also joining Epic Web3 Conference to speak about strategies for increasing DeFi product adoption by 2x.

Hurry up to join, as the ticket price increases tomorrow!

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