2023 – Now
Fintual Retirement Plan
Fintual Retirement Plan
How we made Fintual's retirement plan a great product by listening to people.
How we made Fintual's retirement plan a great product by listening to people.
Role
Role
Product Designer
Product Designer
Outcomes
Outcomes
+20% product usage
+20% product usage
5x total money invested
5x total money invested
First, what's a retirement plan?
First, what's a retirement plan?
This plan allows you to save for your retirement with tax benefits. The government practically rewards you with money, just for saving.
Designing and launching this was amazing. However, for this case study, I will focus on the improvement process that followed our launch.
This plan allows you to save for your retirement with tax benefits. The government practically rewards you with money, just for saving.
Designing and launching this was amazing. However, for this case study, I will focus on the improvement process that followed our launch.
We launched, now what?
We launched, now what?
When we decided to improve this plan, 21% of our total clients were using it.
To enhance these numbers and the product itself, we did some research and identified a lot of problems and opportunities.
Creating this plan was perceived as 'too easy to be true.' It's their retirement we're talking about.
People had tons of doubts after creating their plan, mostly about taxes.
They were unsure about how much they would get with the 'tax benefit', and they were really curious about it.
When we decided to improve this plan, 21% of our total clients were using it.
To enhance these numbers and the product itself, we did some research and identified a lot of problems and opportunities.
Creating this plan was perceived as 'too easy to be true.' It's their retirement we're talking about.
People had tons of doubts after creating their plan, mostly about taxes.
They were unsure about how much they would get with the 'tax benefit', and they were really curious about it.
Emphasizing the tax benefit
Emphasizing the tax benefit
We found out that the tax benefit was what people valued the most. So, we focused on it and showed users how much they could get ,
We began helping them figure out and calculate their tax benefit while they were making their plan. This also tackled the 'too easy to be true' issue.
We found out that the tax benefit was what people valued the most. So, we focused on it and showed users how much they could get ,
We began helping them figure out and calculate their tax benefit while they were making their plan. This also tackled the 'too easy to be true' issue.
A progress bar to keep them going
A progress bar to keep them going
People were loving this. But they also wanted to get the most out of the benefit.
To do this, they had to put in a certain amount of money each year, based on what they earn. So, we introduced a progress bar that showed them the amount they needed to deposit
This bar was unique for each person and filled up with every deposit. It helped us show them the total tax benefit they would get at the end.
People were loving this. But they also wanted to get the most out of the benefit.
To do this, they had to put in a certain amount of money each year, based on what they earn. So, we introduced a progress bar that showed them the amount they needed to deposit
This bar was unique for each person and filled up with every deposit. It helped us show them the total tax benefit they would get at the end.
1 section to teach them all
1 section to teach them all
We made a section named 'Everything about your plan' to answer people's common questions.
It was pretty simple. And soon, fewer people were asking questions.
Within a month, we noticed that almost everyone making their retirement plan checked out this section.
We made a section named 'Everything about your plan' to answer people's common questions.
It was pretty simple. And soon, fewer people were asking questions.
Within a month, we noticed that almost everyone making their retirement plan checked out this section.
Ok, now some results
Ok, now some results
People really liked the progress bar. Some even posted it on Instagram.
Our users that invested in this product went from 21% to 43%. We also grew the money in all retirement plans by more than 5 times.
Now, we're looking into other issues and trying out new ideas with 'Risk selection'. I'll wrap this story up with a few teasers.
People really liked the progress bar. Some even posted it on Instagram.
Our users that invested in this product went from 21% to 43%. We also grew the money in all retirement plans by more than 5 times.
Now, we're looking into other issues and trying out new ideas with 'Risk selection'. I'll wrap this story up with a few teasers.
