Crafting an Addictive Product
Table of contents
- Building a Habit-Forming Financial Journey
- Decoding Addictive Applications: Insights from “Hooked”
- Navigating NAMI’s Habit-Forming Screens
- A Journey Towards Empowered Finance
Building a Habit-Forming Financial Journey
Welcome to part two of our three-part series on NAMI’s user interface. In this segment, we explore how we make an app that’s not just functional but irresistibly engaging. Our strategy aligns the interests of the KUJIRA ecosystem, our users, and NAMI into a mutually beneficial trio. Missed part one? Click here.
The Trifecta of Mutual Benefit
For the KUJIRA ecosystem, the ideal outcome is a consistent influx of fresh capital, vital for sustained growth and stability. Our users aim to grow wealth exponentially through compound interest in the easiest way possible. NAMI’s goal is to increase Total Value Locked (TVL), boosting our fee revenue. But how do we turn these goals into a collective success?
Creating a Habit-Forming user interface
The key lies in making our users habitual visitors to our application. It’s about creating an environment where users not only feel comfortable but are compelled to return, depositing more funds and deepening their engagement with the NAMI ecosystem. This frequent interaction fosters a profound understanding of the application and builds unwavering trust over time.
But what’s the secret sauce to achieving this level of user engagement? It’s about crafting an application that users not only know inside out but also feel a personal connection with. An interface that’s intuitive, rewarding, and, most importantly, habit-forming. This isn’t just about functionality; it’s about creating an experience that users want to be a part of, day in and day out.
Decoding Addictive Applications: Insights from “Hooked”
At the heart of every addictive application lies a carefully crafted mechanism, a concept brilliantly explained in Nir Eyal’s book “Hooked.”
It’s a cycle that begins with a ‘Trigger,’ which can be external (like an app notification) or internal (a feeling or thought).
This trigger leads to an ‘Action,’ the behavior prompted by the trigger, such as opening the app. The simpler the action, the more habitual it becomes.
Next comes the ‘Reward.’ This could be the joy of seeing your investments grow, the satisfaction of learning something new, or even the surprise of finding something unexpected. The reward needs to deliver pleasure or solve a problem, providing enough motivation for the user to take the action again in the future. However, unpredictability plays a crucial role here. Variable rewards are more enticing than predictable ones, keeping users engaged and curious.
Finally, ‘Investment‘ from the user solidifies the habit. When users invest time, data, effort, social capital, or even money, they are more likely to return. This investment improves the service for the user over time, making it harder for them to leave.
Navigating NAMI’s Habit-Forming user interface
Navigating through NAMI’s application, users are drawn to two main screens, each ingeniously designed to create a habit-forming experience:
The Home Screen: Financial Insights Hub
Upon connecting to NAMI, three pivotal elements greet the user:
- Current Allocation Overview: This displays the distribution of the user’s savings within NAMI, highlighting any funds in the wallet not earning yield.
- Projected Interest: Users can see the expected interest based on current deposits and average yields.
- Account Growth Tracking: The overall development of the account is prominently featured.
Creating the Habit Loop:
- Trigger: Every time the user exits the app, curiosity is piqued. Questions arise: “How much have I earned since last time? Have the interest rates changed? What if I deposit more?” Just think of your Coingecko behavior.
- Action: This curiosity compels the user to reopen the app frequently.
- Reward: Witnessing their financial decisions positively impacting their portfolio – through improved growth, higher interest rates – fosters a sense of accomplishment.
- Investment: Regular deposits enhance the user’s investment, with the app supporting this habit through gentle reminders (if opted in).
The Vault Details Screen: Your Personal Financial Tracker
In addition to the overall portfolio overview, it is of course also important that the user can track his individual goals (vaults).
- Trigger: The desire to check progress towards savings targets.
- Action: The user opens the Vault Details screen to review their investments.
- Reward: Here, they see their financial growth, actual earned interest, and adherence to their investment plan.
- Investment: As the user observes their wealth increasing and goals being met, their commitment to regular investing solidifies.
The Ultimate Engagement Tool: The “What If” Function
There is no stronger motivator than dreams. When we can visualize where we want to be one day, we really start to move. But dreaming needs space. That’s why we’ll give our user the possibility to “play around”.
- Trigger: “How much do I need to save to reach my goal by a certain time?”
- Action: The user accesses the Vault Details Screen and engages with the simulation tool, tweaking parameters like investment amounts and regularity.
- Reward: This provides a crystal-clear roadmap of what is needed to achieve their financial goals.
- Investment: Users gain more structure in their savings process, reinforcing their financial habits.
A Journey Towards Empowered Finance
At NAMI, we’re not just building a product; we’re crafting a financial journey that’s both addictive and empowering. NAMI’s user interface is designed to draw users in, engage them with meaningful interactions, and keep them coming back. By seamlessly blending professional, user-friendly interfaces with intelligent habit-forming features. Every visit to NAMI isn’t just a routine check—it’s a step towards financial freedom and smarter wealth management.
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