Cryptocurrency
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BTSE is a global blockchain technology company focused on three primary areas: Exchange, Payments, and Infrastructure Development. The BTSE exchange supports over 200 cryptocurrencies and 50+ perpetual contracts. They provide both fiat and crypto pay-ins and pay-outs, as well as OTC services for over 50 major currencies. Additionally, BTSE offers enterprise solutions that enable businesses to white-label their exchange infrastructure, wallets, payment gateways, provide liquidity, and more.
Industry
Cryptocurrency
Duration
2023/04 - 2024/06
Duties
Responsible for the structure, user research, user flow, mockups, prototypes, usability testing, and user interviews for the affiliate program, referral program, and task and reward hub
Overview
The business goal is to increase new users and boost brand awareness. We aim to establish a comprehensive rewards and referral system by leveraging Key Opinion Leaders (KOLs) along with task and reward mechanisms to attract users to register and use our platform. Our focus is on three key features: the affiliate program, the referral program, and the reward hub. Users can unlock benefits, complete tasks, and form teams to earn commissions. Rewards and rates are tailored to different user types.
Goal
Aligned with the company’s business goals, this project focuses on enhancing the affiliate program, referral program, reward hub, and task center. The primary objective of these new features is to attract new users and improve retention. Users can earn commissions through various programs, with rewards scaling according to their tier. Our backend system provides in-depth performance analytics for partners, ensuring transparency and accountability.
Since BTSE’s brand awareness is still in the growth phase, we aim to leverage these features to increase platform visibility and drive user acquisition. The three feature offers achievement-based incentives to encourage ongoing user engagement, helping boost both brand recognition and platform activity.
Challenge
1
Developing the mechanisms for the affiliate and referral programs requires extensive research and strategic planning. Our goal is to create a cost-effective solution that appeals to a diverse range of users.
2
Many competitors offer similar features, so we focus on differentiating our affiliate programs, referral programs, and reward centers to stand out in the market.
3
A flexible mechanism and architecture will help us support various scenarios, attract users, and replan the entire feature.
4
Although we cannot conduct interviews with KOLs and celebrities to understand their ideas and preferences, their valuable feedback has provided key insights, allowing us to refine and extend our features.
5
Managing three comprehensive features within a limited timeframe presents a considerable challenge, requiring careful prioritization to meet deadlines.
6
We will also enhance the existing referral and affiliate programs with the new project to create a more seamless and effective experience.
BTSE CRYPTO EXCHANGE
Product Journey
1
Research and Refine Target
2
Feature Scope and Mechanism
3
Demo Design and Introduce
4
Tracking and Testing
Research and Refine Target
The main focus is to research and analyze competitor-related features to ensure adaptability to various scenarios and define our target user base—identifying the types of users we aim to attract.
1
Define Our Target Users
2
Our focus is on researching and analyzing competitor features to ensure our solutions are adaptable across various scenarios. This process helps us identify our target user base and attract the right users. Additionally, our features are designed to differentiate us from competitors while meeting user needs effectively.
From a marketing standpoint, we analyzed popular competitors, comparing their strengths and weaknesses with ours. This analysis highlights opportunities to leverage these three core features to target distinct market segments strategically.
Core Strategies and Differentiated Initiatives
A.
Referral and Affiliate Commission Structure
Users earn commissions or rewards by referring others, with commission rates and rewards scaling based on the total number of successful referrals.
B.
Tiered Tasks and Rewards
The program offers tasks at different levels to engage various user types, providing tailored rewards for specific segments..
C.
Affiliate Performance Tracking
Affiliates can track partner performance and adjust commission rates as needed on the platform.
D.
Real-Time Insights and Adaptability
Performance reports and tracking tools provide real-time insights into progress and outcomes.
E.
Flexible Task and Reward Center
The task and reward center is adaptable for various campaigns and initiatives.
3
Organize the KOLs Feedback
We reorganized feedback from Key Opinion Leaders (KOLs) into three points. A key part of our strategy is leveraging KOL channels to promote our products and expand market reach.
A. KOLs can customize rewards and quotas themselves.
B. Easily editing the commission rate and rebate.
C. Partner performance and reporting can be viewed at any time.
D. Ensuring easy-to-understand rule operations.
2
Planing the Feature Scope
While collecting and researching information, we delved into how competitors implement their features and planned the new feature scope with the product manager. Through multiple iterations, we presented initial design demos and thoroughly explained the project's mechanism to stakeholders to ensure alignment with the business model and future goals.
3
BTSE Crypto Exchange
1
Tasks and Rewards Center
The Task and Rewards Center attracts users with rewards for completing various tasks such as welcome tasks, challenges, and KOL-specific tasks.
Our features outperform other platforms by offering different tasks and rewards tailored to users at various levels, ensuring a personalized experience. Additionally, our flexible mechanism allows dynamic adjustments to re-engage users and drive continued platform usage, supporting both online and offline activities.
Target Audience
New to Crypto Users & General Retail Users
The Task and Reward Center is designed to attract new crypto users and general retail users with various rewards. Research indicates that experienced users are less focused on rewards, so our strategy targets the two user types to align with our goal of increasing new users and boosting brand awareness. By tailoring rewards to these groups, we aim to effectively engage and retain new and retail users on our platform.
2
Referral Program
The BTSE Referral Program allows users to earn rewards by inviting friends to join the platform. By sharing a unique referral link, users can benefit when their referrals register and trade. The program offers flexible commission rates, with earnings based on the trading volume of the referrals. Additionally, participants can track their referral performance through a comprehensive dashboard, ensuring transparency and maximizing their earnings potential.
The challenge is to enhance the referral and affiliate programs by separating them into two distinct projects. Based on my research and tracking, we decided to split the programs for a more seamless and effective user experience.
Referral Dashboard
3
Affiliate Program
The affiliate program opens up exciting opportunities to earn commission while promoting our innovative cryptocurrency exchange platform. Whether you're a blogger, social media influencer, or website owner, partnering with BTSE allows you to monetize your traffic and earn competitive commissions on every qualified referral.
How does an affiliate program work?
Affiliates benefit from higher commission rates and have the ability to upgrade users to partners, enabling them to share commission rates and become affiliates together. For instance, if I upgrade a user to an affiliate with an 80% commission rate, and I share 60% with my partner A, I would earn 20% on each trade made by partner A. Partner A, now an affiliate, can invite users or upgrade them to partners, thereby forming teams to earn additional commissions.
Affiliate Program Offers Five Key Advantages
A.
Higher commission rates than other platforms.
B.
Dynamic commission adjustments to optimize partnerships in real-time.
C.
Clear performance reports to monitor partner effectiveness anytime.
D.
Dedicated support services to address your specific needs.
E.
Customizable referral links to enhance your promotional strategy.
Affiliate Program Overview
1
Invite Users to Become Partners
Encourage users to become partners, inviting more users to collectively earn higher commissions. You have the flexibility to set commission rates to share with your partners.
2
Custom Commission Rates
As an affiliate, you can set personalized commission rates to share with users and earn self-rebates.
3
Affiliate Dashboard
Access a user-friendly dashboard to monitor your partner's effectiveness, track earnings, and view recent referrals at any time
4
Link Management and Custom Link
Efficiently manage your links and set up custom links, enabling you to define different commissions for new users
5
Performance Features
Gain insights into the effectiveness of your downline partners and view detailed commission information, including rebates, for each transaction.
6
User Lists and Partner Lists
Effortlessly manage user links and partner lists, facilitating easy upgrades to partner status.
4
80%
Past 6 months
40%
Past 6 months
30%
Past 6 months
Data Tracking Result
I. Through the affiliate program, referral program, and reward hub, new user registrations have increased by 80% compared to the past 6 months.
II. Among these new users, 45% were acquired through Affiliate program, 20% through referral program, and the remaining 15% came via campaigns and the reward hub.
III. Each month, the number of active users on our platform has increased by 40% compared to the past 6 months, with 20% of users acquired through the task center and reward hub and 20% through the referral program and affiliate program.
IV. Trade volume will grow by 30% compared to the same period in the past 6 months. The majority of this volume is expected to come from the Affiliate program and referral program, with smaller contributions from copy trading and trade bots.
V. The affiliate program and referral program have yielded significant results, with a 30% increase in platform trade volume and within one month.
VI. We are currently conducting user research for three features, and user satisfaction has reached 80% in terms of user experience and usability.
User Interview and Usability Testing
After launching the three features, we planned user research to understand the users' experiences and identify their pain points with these features. Based on the users' problems, we will find suitable solutions and optimize their experience.
Objectives
We targeted three directions for in-depth research
1
Explore the primary motivations for users to choose a crypto exchange.
2
Identify the challenges users face during the onboarding flow, including registration, deposits, and earning product flow.
3
Identify the challenges users face during the rewards hub flow, including rewards hub findability and the comprehension of tasks and rewards.
Number of Participants
7 peoples ( 2 online, 5 on site )
Participants Segments
New to Crypto Users (3) / General Retail Users (2) / Experience Retail Users (2)
Test Tasks
Register / Deposit / Earn / Complete Task / Get Rewards / Email / Redeem / Affiliate
Organizing Ideas
Organize the issues or behaviors that users encounter using sticky notes, then sort and categorize them to identify specific directions.
1
Don’t understand the usage of rewards, especially BTSE Cash
Not understanding what BTSE Cash and token voucher are, and how to use them.
2
Unsure whether tasks have been completed or rewards have been received
The status does not update after finishing tasks, and the reward voucher is not visible.
3
Unsure how to find next destination during some steps
Returning to the reward hub gets stuck after registering ; unsure where to find the actual rewards after redeemed
4
Can’t quickly find relevant information when encountering problems
The support center and blog lacks translations in certain languages
5
Uncertain about some tasks detail
It's not possible to quickly scan for the rules I want to know
6
The performance report is too simplistic; they want more detailed insights
The user wants to know the details of downline performance, but the report is too simple and does not provide comprehensive information
Based on the user research, the above are the main problems encountered by all participants. There are also several minor issues that may cause confusion but do not prevent users from completing their tasks.
Behavioral Insights
Through the user research, we analyzed three types of participants. We found that users within the same types exhibit similar behavioral insights.
