customer story
customer story
EasyEquities saves big by automating customer support using WotNot
Lucas Herrick
Lucas Herrick
Digital Assets Lead at EasyEquities
Digital Assets Lead at EasyEquities
Industry
Technology
Headquarter
Rosebank, South Africa
Company size
251 - 1,000
Website
About company
EasyEquities is a product of First World Trader Ltd t/a. EasyEquities is an authorized financial services provider and a registered credit provider. The EasyEquities platform enables users to invest in securities which includes whole shares and fractional security rights (FSRs).
The Challenge
EasyEquities, owned by Purple Group, is one of the largest online stock and equity trading platforms in South Africa, and has been making financial investing accessible to all. They had a website and a mobile app. A majority of EasyEquities’ volume of trade comes from and is processed through on EasyEquities’ mobile app.
However, the low number of signups were a major point of concern. To bring more signups through the mobile app, EasyEquities heavily invested in digital ads. However, the ad expenditure only increased the app downloads. The signup numbers were still poor.
The downloads to signups conversion rate was poor. As a result, only a fewer people completed their account setup to begin trading.
Lucas Herrick, the Digital Assets Lead at EasyEquities, tasked with improving the bottom line, first tried to identify the actual reason that was discouraging visitors from signing up.
On further research, he found that the onboarding process was the root cause. The complex and prolonged onboarding process was the major cause of drop-offs, mostly because a majority of its users were not tech-savvy.
Secondly, Lucas also observed that their call center team was overburdened with calls asking for assistance in the onboarding. This helped Lucas to come to a conclusion that not only was their onboarding process complex, but also there was nothing that could provide real-time assistance or troubleshooting to users.
Lucas planned to create a virtual assistant for visitors who would guide them throughout the whole process of signing up for the application, making things even more simple to understand. Following this roadmap, he sought to increase the volume of signups on the application.
EasyEquities, owned by Purple Group, is one of the largest online stock and equity trading platforms in South Africa, and has been making financial investing accessible to all. They had a website and a mobile app. A majority of EasyEquities’ volume of trade comes from and is processed through on EasyEquities’ mobile app.
However, the low number of signups were a major point of concern. To bring more signups through the mobile app, EasyEquities heavily invested in digital ads. However, the ad expenditure only increased the app downloads. The signup numbers were still poor.
The downloads to signups conversion rate was poor. As a result, only a fewer people completed their account setup to begin trading.
Lucas Herrick, the Digital Assets Lead at EasyEquities, tasked with improving the bottom line, first tried to identify the actual reason that was discouraging visitors from signing up.
On further research, he found that the onboarding process was the root cause. The complex and prolonged onboarding process was the major cause of drop-offs, mostly because a majority of its users were not tech-savvy.
Secondly, Lucas also observed that their call center team was overburdened with calls asking for assistance in the onboarding. This helped Lucas to come to a conclusion that not only was their onboarding process complex, but also there was nothing that could provide real-time assistance or troubleshooting to users.
Lucas planned to create a virtual assistant for visitors who would guide them throughout the whole process of signing up for the application, making things even more simple to understand. Following this roadmap, he sought to increase the volume of signups on the application.
The most easy to use no-code bot builder! Period.
Lucas Herrick
Digital Assets Lead at EasyEquities
The most easy to use no-code bot builder! Period.
Lucas Herrick
Digital Assets Lead at EasyEquities
The most easy to use no-code bot builder! Period.
Lucas Herrick
Digital Assets Lead at EasyEquities
The Solution
It was clear that the platform needed a virtual assistant. Soon Lucas began scouring the market for an easy solution that could address their challenge.
That was when he came across WotNot.
WotNot was everything that EasyEquities needed. It had a powerful no-code bot builder, which enabled them to create chatbots on their own, easily. This chatbots could act as a virtual assistant that can give answers to all of user’s question, offering real-time troubleshooting.
Best of all, WotNot had flexible pricing, which suited EasyEquities’ long-term cost-saving plans.
After building a sample flow to further evaluate the product, it became quite evident that WotNot was the easiest and right platform to go ahead with. WotNot’s bot was then deployed across all pages of the platform’s desktop and mobile application. This ensured that whenever a visitor would stumble or get confused or get lost, they can immediately ask the virtual assistant for guidance or direction.
In this way, the bot would be a proper tool that educates on all matters related to financial investing. WotNot’s bot became a constant companion for visitors, through every step of the onboarding process.
Whenever a visitor, or even a user, had any queries or felt stuck anywhere on the platform, all they’ll have to do is click on the ‘chat’ button given at the bottom of the page; the bot would gently guide them through the problem or explain to them whenever something would seem too difficult. The bot would simply present them with a list of categories of problems, ask them to choose from those categories, and so on. The bot also supplied the conversation with saved replies (one-click answers) to make things super easy for visitors. In this way, the automated troubleshooting chatbot made things super easy for the visitors.
The bot would also take their feedback at the end of a query resolution. It would ask the visitor proactively whether or not it was able to successfully troubleshoot the problem for them. In case the visitor replied with a ‘No’, the bot would ask for their contact information (in case the visitor has not signed up till then) and create a ticket in their system. Once a ticket has been created, a call support executive would reach out to the visitor directly.
It was clear that the platform needed a virtual assistant. Soon Lucas began scouring the market for an easy solution that could address their challenge.
That was when he came across WotNot.
WotNot was everything that EasyEquities needed. It had a powerful no-code bot builder, which enabled them to create chatbots on their own, easily. This chatbots could act as a virtual assistant that can give answers to all of user’s question, offering real-time troubleshooting.
Best of all, WotNot had flexible pricing, which suited EasyEquities’ long-term cost-saving plans.
After building a sample flow to further evaluate the product, it became quite evident that WotNot was the easiest and right platform to go ahead with. WotNot’s bot was then deployed across all pages of the platform’s desktop and mobile application. This ensured that whenever a visitor would stumble or get confused or get lost, they can immediately ask the virtual assistant for guidance or direction.
In this way, the bot would be a proper tool that educates on all matters related to financial investing. WotNot’s bot became a constant companion for visitors, through every step of the onboarding process.
Whenever a visitor, or even a user, had any queries or felt stuck anywhere on the platform, all they’ll have to do is click on the ‘chat’ button given at the bottom of the page; the bot would gently guide them through the problem or explain to them whenever something would seem too difficult. The bot would simply present them with a list of categories of problems, ask them to choose from those categories, and so on. The bot also supplied the conversation with saved replies (one-click answers) to make things super easy for visitors. In this way, the automated troubleshooting chatbot made things super easy for the visitors.
The bot would also take their feedback at the end of a query resolution. It would ask the visitor proactively whether or not it was able to successfully troubleshoot the problem for them. In case the visitor replied with a ‘No’, the bot would ask for their contact information (in case the visitor has not signed up till then) and create a ticket in their system. Once a ticket has been created, a call support executive would reach out to the visitor directly.
Their support team is always helpful with answering your questions and finding the best solution to any blocker you may have.
Lucas Herrick
Digital Assets Lead at EasyEquities
Their support team is always helpful with answering your questions and finding the best solution to any blocker you may have.
Lucas Herrick
Digital Assets Lead at EasyEquities
Their support team is always helpful with answering your questions and finding the best solution to any blocker you may have.
Lucas Herrick
Digital Assets Lead at EasyEquities
The Results
This was WotNot’s first-ever mobile application project, and yet the results had been nothing short of remarkable. The virtual assistant chatbot was instrumental in creating a whole new brand experience for EasyEquities stakeholders. Within a couple of months, the chatbot significantly boosted visitor-to-signee conversion rates of Easy Equities’ mobile app.
EasyEquities had a rather small call support team, and as mentioned earlier they were usually overloaded with addressing the grievances of their existing users. To avoid call jams, top executives were on the verge of expanding their call support team.
With WotNot’s chatbot builder, the top brass realized that they no longer needed to expand their calling team, because the chatbot took care of a significant portion of troubleshooting and query resolution.
This was WotNot’s first-ever mobile application project, and yet the results had been nothing short of remarkable. The virtual assistant chatbot was instrumental in creating a whole new brand experience for EasyEquities stakeholders. Within a couple of months, the chatbot significantly boosted visitor-to-signee conversion rates of Easy Equities’ mobile app.
EasyEquities had a rather small call support team, and as mentioned earlier they were usually overloaded with addressing the grievances of their existing users. To avoid call jams, top executives were on the verge of expanding their call support team.
With WotNot’s chatbot builder, the top brass realized that they no longer needed to expand their calling team, because the chatbot took care of a significant portion of troubleshooting and query resolution.
