Crypto products often face revenue loss not at launch, but after, as users seek better rates or missing assets elsewhere. Despite an API functioning correctly, commercial success can falter if customers abandon transactions due to unmet needs.
Product and finance teams must pinpoint where users drop off and how frequently it occurs. Understanding user behavior post-launch is crucial to retaining revenue. Four primary areas account for significant losses:
- Missing assets drive users away: Users typically enter a swap with a specific asset in mind. When their desired route is unavailable, they are likely to leave the platform, making way for competitors. Each missing token or network can lead to a shift in user preference.
- Fiat access barriers: Many users arrive at crypto products without the necessary assets for trading. If they must exit the app to purchase crypto, they risk losing that transaction to an external provider. An embedded fiat ramp can facilitate purchases directly within the app, keeping users engaged and reducing drop-off.
- Subpar rates and execution delays: If users encounter poor rates or slow processing times, they may take the opportunity to explore alternatives. Access to multiple liquidity sources can enhance the user experience by improving swap reliability.
For instance, ChangeNOW offers a business API that supports over 1,500 coins across 110 networks, which allows users to exchange assets smoothly. This comprehensive coverage helps platforms retain their user base and meets diverse demands.
Addressing these issues can significantly improve the user experience and minimize revenue leaks. As competition grows, especially in the space of crypto products, understanding and optimizing post-launch performance is essential for long-term success.
This article is for informational purposes only and does not constitute financial advice.
