Litebit
Reposition, redesign and rebrand one of the original crypto trading platforms of Europe
The Rotterdam based crypto trading platform Litebit has been one of the facilitators of mass adoption of Crypto by retail clients across Europe, offering easy payment methods like iDeal and secure and easy to use wallets for storage. But how do you stay relevant in an industry with lots of competition entering the market, great market volatility and more demanding customers?
Role
- UX research
- UX design
- UI design
- Visual design
Goals
- Create a product offering that is on par and in certain areas beyond competitors offering
- Find an obtainable product/market fit that offers high potential for growth
- Redesign the identity to make it suitable for this new market fit
- Redesign Lead site so it can better convert new customers based on new proposition
- Redesign app with an optimal user experience that is functional on par and/or beyond main competitors
- Create design systems and component libraries to ensure brand consistency and enable fast future feature development of new functionalities
Process
- Empathising
- Ideating
- Testing
- Executing
- Testing
Greener fields
In order to find out where LiteBit was and where it should go we conducted a Design Thinking project. Defining what the pain points are and what big oppurtunities there are to reclaim a relavant position int the market. As input to generate ideas in week long workshop we started our project off by conducting user research inside and outside the company.
The insight were clear, for Litebit to continue as it does would mean certain death by becoming irrelevant over time. With the market down and stiff competition LiteBit had gone from a market leader to a playing catch up with younger faster moving companies often with deeper pockets to booth. To steer the company into a direction of growth we concluded that the best chance of survival for the company would be to focus on a audience less targeted by competitors (lower marketing spend) but large potential revenue over time. The target audience best suited turned out to be younger people in urban areas who would like to start investing towards future big live events like going on trip around the world or buying a first house.
Move me, but not too fast
With all the fresh ideas and new exiting positioning of the brand from our Design Thinking project under our arms we started creating some initial designs of important new features and flows. And put them to the test to see how they would hold up by running tests and interviews with existing and potential users. Would our ideas stick with new users? Would they scare exiting ones?
The results where very positive. Some features like being able to test use the product were even seen as show stoppers if they were not included. The fresh and clean more branded experience was especially well received by the younger contingent of the interviewees that we would like to target. But the content heavy home screen in the app and some of the richer animations were experienced as a negative (too fast, too cluttered) which was valuable input to continue creating a the ultimate Crypto investing experience.
The easy way into Crypto
Armed with positive and valuable insights there was still an important piece missing to complete the redesign. This whole repositioning of the brand was not going to work without a chance of identity. The original logo was created as often the case by on of the founders of the company. LiteBit was a compound word made up of the two coins first listed by the company Litecoin and Bitcoin. And the grouped dots in the logo resembled a coin universe. This all focussed heavily on what they were selling and less on how they wanted to be perceived. This all has worked fine during the companies initiation when it was still targeting early Crypto enthousiast but now really started to limit and hurt the brand.
To gain the trust of this new inexperienced audience we wanted to load the brandname as one word āLitebitā resulting in a wordmark with not caps. This new brand should be easy and accessible to use so we wanted to highlight the āLiteā part of the brand by choosing an geometric open typeface but with a strong confident stroke. To support the logo and itās application in many different and small forms we added the open circle, or the ābitā, to highlight the brands ability to represent two seemingly incompatible states like āeasy Crypto investingā and āspending now and saving for laterā. The thin line in the ābitā became the building block for the rest of the visual language. By nesting elements or images with a thin border and rounded edges we can create lots of different interesting UI elements that can frame important messages or visuals. To give more flexibility we added the existing color palette with more vibrants colours of pink, purple and green to express the excitement and different emotions that come with making big live decisions.
My impact
- Conducting user research to enable decision making to find a better market fit
- Generate ideas to contribute to a better product offering
- Design new identity to fit with the new proposition
- Advanced stakeholder management. Hosting workshops for marketing team to help create new content that fits with new brand positioning. Selling the new identity to senior management.
- Complete redesign the lead site
- Create design system for lead site and oversee implementation of new component library
- Give support to Product owner and Lead developer to successfully implement new Lead site redesign
Key results
- New brand positioning
- New identity
- Completer redesign of the App and the Lead site
- Introduction of a comprehensive design system
- New component library
