Introduction
The recent 30% drop in new user sign-ups for Revolut's crypto trading feature is a significant concern that requires immediate attention. This analysis will systematically identify, validate, and address the root cause while considering both short-term and long-term implications for the product and business.
To tackle this issue, I'll follow a structured approach:
- Clarify the situation with targeted questions
- Rule out basic external factors
- Analyze the product and user journey
- Break down the metric
- Gather and prioritize relevant data
- Form data-driven hypotheses
- Conduct root cause analysis
- Propose validation methods and next steps
- Present a decision framework
- Outline a resolution plan
Framework overview
This analysis follows a structured approach covering issue identification, hypothesis generation, validation, and solution development.
Step 1
Clarifying Questions (3 minutes)
Why it matters: Market conditions often drive user interest in crypto trading. Expected answer: Yes, there has been increased volatility. Impact on approach: If confirmed, we'd need to analyze how market conditions correlate with sign-ups.
Why it matters: Helps identify if the issue is global or segment-specific. Expected answer: The drop is more significant among younger users. Impact on approach: We'd focus on understanding what's changed for this particular segment.
Why it matters: Changes in user experience can significantly impact sign-up rates. Expected answer: A new identity verification step was added last week. Impact on approach: We'd analyze the impact of this change on conversion rates.
Why it matters: Competitor actions can draw potential users away from our platform. Expected answer: A major competitor launched a zero-fee promotion last week. Impact on approach: We'd need to assess our competitive positioning and value proposition.
Why it matters: Technical issues can deter new users from signing up. Expected answer: No major issues reported. Impact on approach: We'd focus more on product and market factors rather than technical problems.
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