Written by Eliane Coudoro, Founder of Seventy Eight

70-80% of fintech startups struggle with lead conversion and customer activation. But why?

Having analysed countless onboarding processes, I've identified 3 crucial mistakes and fixes:

Mistake #1: Only Action Driven

Too many companies focus solely on pushing users to complete onboarding steps. "Fill out your profile! Take the tour! Invite your friends!" It's all about checking boxes, not providing value.

The Fix: Educate and Inspire

Imagine you're excited to start investing but have no idea where to begin. A list of app features won't help. What you need are beginner-friendly guides and valuable resources.

Instead of just telling users what to do, show them how and why. Educate them about your product's benefits and inspire them to take action.

Mistake #2: Generic Onboarding

One size does NOT fit all. A generic onboarding experience fails to address individual customer interests and needs. Newbies get overwhelmed, and experienced users get bored.

The Fix: Segment to Deliver Relevant Messages

Tailor your onboarding to different user segments. Newbies need the basics, while pros might appreciate advanced features or shortcuts. Personalise the experience to make it relevant and engaging.

Mistake #3: Ignoring Data

Don't fly blind! Use data to inform your onboarding strategy and track key metrics. Are users dropping off at a certain step? Is there a bottleneck in the process? Data holds the answers.

The Fix: Data-Driven Optimisation

Imagine signing up for a new savings app, but the onboarding is so confusing you give up before even getting started. Frustrating, right?

Use data to identify pain points and optimise your onboarding flow. A/B test different approaches, analyse user behaviour, and streamline the process for a seamless experience.

Unlocking Untapped Growth Potential

Your onboarding process is a critical first impression. Don't let these mistakes sabotage your customer activation and revenue. By focusing on education, segmentation, and data-driven optimisation, you can create an onboarding experience that delights users and sets them up for success.

Need help to optimise your onboarding process and unlock growth for your business?

Access the Growth Playbook below and watch the full 25-minutes video of our deep dive into advanced techniques to activate and retain customers.