Each crypto company, whether it is a payment provider, crypto wallet operator, crypto exchange, or even a crypto iGaming platform, needs to understand its ecosystem and business goals. This makes it necessary to understand the user journey of each segment of the targeted audience.
\ Companies focused on financial growth and competitiveness must be able to correctly profile their current customer base, understand their motivations and goals (why they use the product and whether it is possible to upscale them), and identify their pain points. Naturally, when creating user personas, it is essential to rely on data analytics. So, let’s take a closer look at who they are and how to create effective user personas.
1. What Is a User Persona?A user persona is a fictitious or semi-fictitious person imagined to be using your product. The main task is not to view your product through the prism of your technologies and features (the company’s perspective), but to see it from different angles as if certain users perceived and evaluated your product. These personas are essentially clusters of ideal users, based on analysis of current user databases and market analysis (including competitor analysis).
\ Properly created user personas help crypto businesses stay connected to their customers, understand their needs, goals, and behaviors, and guide them in decision-making. They also assist in developing the business further in a highly competitive environment such as crypto. Additionally, user personas help identify the potential for developing customer-oriented products, features, and overall business strategies.
\
2. The Essentials of Creating Crypto User PersonasMost crypto companies are product-based. To develop their products and remain competitive, they must understand their users' expectations, address any negative experiences, and determine which features to include in their product roadmap. Additionally, they need strategies to maintain retention rates at a high level and satisfy key user needs. Properly composed and defined user personas help crypto companies build better products.
\ In different companies, various departments are involved in creating user personas; sometimes it is the UX team, Product, and sometimes Growth. Regardless of who compiles the user personas, one must always rely on four key ‘How to’ points:
\
\ All questions for users can be divided into two broad categories: the actions of customers with cryptocurrency in different situations and the goals they are pursuing/achieving.
\
3. What Product-Related Questions Can You Ask Your Crypto Users?After you gather product data (answers to questions) from your users, you can divide them into user personas into the following segments:
\
After you gather product data (answers to questions) from your users, you can divide them into user personas into the following segments:
\
\
4. Examples of Potential Crypto User Personas for Crypto Exchanges or P2P Marketplaces Type A: The Professional Trader\ There can be dozens of such user personas – it all depends on how effectively you can ask clear questions to accurately profile them and segment them properly.
ConclusionUser personas are crucial for designing features and functionality that best meet the needs and preferences of your diverse users. Additionally, user persona segments can be effectively used for targeted marketing campaigns aimed at both customer retention and acquisition.
\ Moreover, your customer experience (CX) can be optimized to benefit users by adopting a tailored support approach. This includes developing a knowledge base and support articles specific to each user persona, addressing their unique challenges, and providing the best support.
\ Don’t forget to regularly update your user personas database. The crypto market is dynamic, and users may shift from one persona to another based on their evolving needs and challenges. As new products and features are developed, users may seek different solutions from your platform.
All Rights Reserved. Copyright , Central Coast Communications, Inc.