🎥 Video case study: Designing a Mobile Loyalty Experience for Retail.
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COIN360 is a market watch website allowing users to build, personalize, and track crypto data on custom dashboards.
Users can take the available widgets and build their own dashboard according to personal preference.
Users design their own dashboards with drag and drop widgets. Ultimately they build their own user experience with personalized data structure.
Shortly after implementing Open Loyalty, we spoke with Jens Danielsson, Head of Strategy at COIN360, about their experience. This case study captures their initial insights and will be updated with results as they emerge.
The key factor for cryptocurrency traders is price. Unlike stock markets, crypto never sleeps, requiring constant monitoring.
That’s why, we’ve combined real-time data aggregation with advanced user customization. We empower users to visualize market trends with personalized dashboards and widgets and easily navigate through the rapidly evolving crypto landscape.
Most users, however, use the platform only to monitor the market. They visit the website and bounce.
We’ve implemented loyalty and gamification mechanics to incentivize users to use token swaps and explore more of what the platform has to offer.
"We want to train visitors to use our platform. Instead of simply looking at the dashboard, we want people to use the product."
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Jens Danielsson
Head of Strategy at COIN360
We have a swap - the trading mechanism - on the website. The idea is that the loyalty mechanics incentivize users to trade and invest in the website and help us build a community of traders who support the platform by trading with COIN360.
We explore a lot of gamification ideas. We’ve launched points with the Swap to earn feature.
The next thing on the roadmap is referrals. You will be able to refer friends and get 10% of the points your referred friends receive on the platform.
After that, we are going to introduce leaderboards, so that traders can team up and achieve common goals or compete against each other.
We’re also considering something like fantasy trading where you can select specific coins and team up with other players and win a certain number of points.
Make users advocates for the platform and make them a key driver for growth. E.g. rewarding them for creating content.
In the case of our product, the leaderboard might send a powerful message. Users can see how “farmed” or “underfarmed” the project is.
For example, If you trade 10K USD and land on the 1st place, and then someone else trades for 10K and 1 USD and goes to the top. And then people start competing, because the higher you are the more points you get. People tend to want to compete on that.
COIN360 Swap offers an efficient token swapping experience. Users can easily exchange tokens without the hassle of managing multiple platforms.
Additionally, traders can earn points in the Pre-Season, which will be credited to their profile at the start of Season 1, adding a gamified incentive to participation.
I’m not a developer myself.Â
"I think It’s better to start building a product with loyalty and gamification mechanics because this way you build this experience into the product instead of on top of it."
Jens Danielsson
Head of Strategy at COIN360
Using the composable mechanics requires a single developer and it doesn’t take a long time. I think it’s definitely worth it.
A loyalty engine was the perfect fit for our goals. I explored many options before choosing Open Loyalty, but no other solution offered the same capabilities in the way you do.
"Custom events give you the flexibility to build anything, as long as you have the right data. This was exactly what we needed. Without it, launching swaps in four weeks wouldn’t have been possible, and we likely wouldn’t be live yet."
Jens Danielsson
Head of Strategy at COIN360
Building in-house was an option, but it would have required extensive planning, significant effort, and higher costs. Customizing features, like integrating referral tokens into the loyalty back office, would have meant developing both the back office and the necessary APIs. That alone would have taken a considerable amount of time.
