eToro, an online financial services company, is an example of creating an entirely new product and service from software, quite different from its traditional analog. eToro takes the best from trading apps and the best from social apps to provide an exceptional service. Research has shown social trading produces better results than trading without guidance and it also yields an improvement over following a single trading guru.
Trading is complex, and using eToro does require understanding essentials about investment. However, eToro provides a free social trading demo account with a virtual $100k budget for practicing.
They use Inline Manual to walk users through the steps to create their first demo account as they learn how to use the platform, and learn about investing in this new way. They also provide a shorter guide for more experienced users.
Much of the functionality of eToro wasn’t even possible before social trading. With eToro’s patented “copy trading” users copy the trades of another investor. The transparency of eToro allows users to see statistics about what individuals invest in, their eToro risk score, and how successful their investments are. Copy trading allows you to take the same positions as a selected investor, meaning if they invest 10% in a stock, so do you at the same rate. eToro also provides risk assessment and monitoring.
eToro are planning more Inline Manual guides to match how people use their product. Looking at user behaviors they have determined where they will go next with Inline Manual. They plan to add one guide for Copy, one for Trade, one for Discovery. They are also looking at Inline Manual’s Analytics to see completion rates, and determine which steps could be removed to create shorter guides.
Inline Manual has an important place in eToro’s service since it’s integrated into the onboarding experience for users. That‘s why Eyal Sheinholtz, Director of Product Management, Social at eToro, has been glad to see how responsive Inline Manual has been. Eyal described a sense of vitality about the support and product teams as they react quickly to his questions and requests. Inline Manual is “something that lives... It listens” he said.
“The best way to judge a product is to see the way it evolves and develops.” Eyal said that they’ve been with Inline Manual for a while, and “every time I look there’s a new feature.”
Feedback from our customers like eToro is mutually beneficial. It’s a relationship which keeps us growing and keeps our product improving, and our final goal is to help eToro’s customers get onboarded quickly and find success with their social trading platform.
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