Maximize Customer Adoption and Retention
Pathfinder helps a leading online brokerage redesign their site and trading platform to maximize customer adoption and retention.
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Company:
optionsXpress (NASDAQ: OXPS) is a top-ranked Chicago-based online brokerage providing individual investors with powerful tools for stock and options trading education, evaluation and execution. The company partnered with Pathfinder to enhance their user experience and maximize customer adoption.
Problem:
Integral to the company’s success is its commitment to continually enhance the overall customer experience with a philosophy it calls ‘iterative innovation’. The company was looking to increase adoption of advanced features and improve customer acquisition and retention.
Solution:
During a three-month period, Pathfinder conducted an intensive usability study of the optionsXpress brokerage platform. At the conclusion of this project phase, we delivered a comprehensive User Experience Design strategy that addressed immediate customer needs and provided a detailed roadmap that would enable optionsXpress to make improvements over time, in keeping with the company’s philosophy of iterative innovation.
Impact:
Multiple minor trading products were combined and content was reorganized, which helped customers trade more efficiently with fewer mistakes.
In the first post redesign survey conducted by Barron’s, optionsXpress received an unprecedented 4 and a half stars as the top online brokerage, and has remained Barron’s top internet brokerage ever since. As a result of the redesign, more customers began using the site’s rich features, and account signup and retention have increased dramatically. The company went public and has a current market capitalization of over $2 billion and more than 200,000 customer accounts, with options trades representing almost 80% of all trading activity.
