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

A qualitative eye tracking usability study of the application was conducted to gather gaze data and fixation times. Financial traders were recruited from our target audience and were tasked to go to the web site and apply for an account. Of those given the task, only 40% of them could complete it without prompt from the facilitator.

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.

 

 

Findings

Although the application was visually appealing with a clean layout, eye tracking and think aloud data analysis showed that participants struggled throughout the form, specifically:

• 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 application form was wireframed and designed based on empirical findings and user best practice experience. Features incorporated directly from the study findings into the prototyping process included:

• 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

Results

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.