FX Solutions’ new application form cuts application time and improves conversion rates and CPA.
FX Solutions is one of the global leaders in Foreign Exchange margin trading, with many users around the globe relying on the web site to find information and to trade. While large marketing budgets were spent in getting potential new customers to the site, many were struggling to get through the account application process. However, a quick review did not show any immediate issues to the user interface.
Eye Tracking Study
Users insisted on filling in vertically in a left-right layout[image size="small" title="Users insisted on filling in vertically in a left-right layout" group="LB Group" icon="zoom" lightbox="true"]http://www.emotioninsight.com/wp-content/uploads/2011/08/FX-TwoColumn.gif[/image]
Using Retrospective Think Aloud, participants were asked to verbalise their thought processes assisted by playback of the test session of the application form overlaid with gaze data.
Eye-tracking study report & recommendations[image title="Eye-tracking study report & recommendations" size="small" icon="zoom" lightbox="true"]http://www.emotioninsight.com/wp-content/uploads/2011/08/FX-Report.gif[/image]
- The left-right order of the two column form confused the natural order for participants, requiring multiple gaze scans both left right and up and down the page.
- Key technical labels could not be understood, even though they were explained earlier in the process
- Validation was over aggressive and restricted the participants from entering their details naturally
- Key visual cues and signposting such as progress bars were ignored and mistaken for main site navigation, even though users were asking for a progress bar.
In the end participants became frustrated and fatigued with the process and either gave up or proceeded with incorrect information. It was apparent that a new interface was necessary to make the process easier for the user and improve conversion rates.
An improved interface
A new design with more natural vertical scan lines[image title="A new layout with more natural vertical scan lines" size="small" icon="zoom" lightbox="true"]http://www.emotioninsight.com/wp-content/uploads/2011/08/1a.-Account-Details-Exten.gif[/image]
- Redesign of the form into a single column, top-down format with aligned fields and labels to allow clear natural scan lines through the page
- Positioning of progress bar lower in the body and design to clearly identify signposting and actual progress.
- Reformatting of key fields to promote more natural data entry
- Format-specific in-line validation to provide in-context guidance
- In-line help of key technical fields to provide in-context support
By designing a more user-centric form specifically from findings from the empirical study and from user best practice, we were able to create a more effective application form which made it more user friendly, quicker and most of all, easier to complete.
Web User Experience
FX Solutions/City Index Group
Identify why users were not completing the account application process and design a new, more user-friendly form.
Tools and methods
An in-situ eye tracking study and retrospective think aloud was performed on financial traders in the City, backed up with historical web analytics.
The study generated valuable insights from which new user-centric form was wireframed and developed for FX Solutions, improving conversation rates and reducing drop-off.