company
What is the market share for advanced trading assets and who are the core competitors?
Advanced Trading 0–1
Problem: Competitors for high revenue users offer more features & assets
Project collaborators
Stakeholders: c-suite, general manager, designers, product managers, data scientists
01 / QUESTIONS
Questions
product
How should we design the roadmap to build for and attract advanced traders?
design
What user behaviors are most common on different types of devices?
02 / APPROACH
Sample & Methods
SAMPLE
1812 respondents across three surveys
Stratified sampling to balance existing and previous customers
Respondent driven sampling to increase size of target customers
Methods
Max-diff surveys of product features, motivations, and device usage.
Designed to market size, assess product needs, and create segments
Used Chatgpt for writing and R-coding
03 / SURVEY DESIGN
Survey Components
Market Size
The first component of the survey assessed the amount of active traders who were currently trading a variety of new assets that the company was considering.
Product Needs
The primary component was a max/diff assessment of the 15 most important product features for advanced trading. Lists were sourced from internal experts and chatGPT.
Segmentation
The foundation component measured motivations to trade specific assets, device usage, competitor pain points, and other demographic factors used to create segments.
04 / PRODUCT NEEDS
Product Needs
Product Needs
Top feature represented 43% of preference share for importance
Top 5 met the needs of 78% of sample
Device type differed for most advanced traders
Market Size
3% of existing traders were trading the highest priority (P1) new asset
13% were actively trading on second priority (p2) new asset
Correlation between P1/P2 were high
05 / SEGMENTS
Segmentation
p1 Asset Trader
3% of market
Desktop primary
Needed power tools
Older cohort
Use pro platform
p1 Asset Curious
47% of the market
Smartphone primary
Needed education
Younger cohort
Use budget platform
06 / IMPACT
Impact & Deliverables
Impact
Estimated the potential revenue using market sizing for c-suite discussion
Set the prioritization and needs for each target customer segment
Incorporated power tools into designs
THE WORK, MADE TANGIBLE
Deliverables
- Full report deck of market sizing, product needs, and segments
- Competitive analysis report based on target segments
- Sub-reports for product/design teams
07 / REFLECTION
Study Retro
Run survey in trader forums to increase response rate of specific asset types
Offer higher referral incentive to increase respondent driven sampling
Increase specificity around advanced tooling needs