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Two young entrepreneurs created a trading algo software and were also running a community channel to reach maximum users. However, they felt a need to create their own digital product that’d benefit the retail investors.
Hence, we held a product discovery workshop in which their team laid out the preliminary requirements and our team came up with a list of features to be added in the first version of their product, along with a plan to accelerate the development process and technology stack that can be used for further updates while scaling up.
Key points include integration of all products and services in one platform and managing access to paid and free subscribers.
The primary goals of this product discovery exercise include clearly defining the product, charting out a roadmap towards building the product in less time, and preparing a scale-up roadmap.
The clients have products and services on different platforms – the algo-software is on tradingview which can be accessed after buying a subscription, a paid community channel on discord where traders from all walks of life discusses trading ideas and guides each-other, and lastly, they offered free knowledge material to beginner retail investors.
The key point was to select a platform where all these services can be included so that they can reach a larger number of people. We concluded that having a mobile app would be a god start, followed by a fully functional web app.
When you are creating a mobile app to promote your trading algo software, you ought to have a full-fledge trading platform sort of features on the app. For example, charts, alerts, indicators like what tradingview offers, so that the paid users can migrate from tradingview to the new platform. We started working on creating wireframes of the app with all the necessary features required for a user to use the trading algo software.
The client also runs a community channel on discord so that the paid users and a few free users (with invite-only links) can get access to a forum full of like-minded traders. A forum where they can discuss different strategies, time frames, a combination if indicators, along with forex, crypto, and share market in detail.
However, there was an issue with the free users with invite-only access, the link used to get shared to many and the supposedly private conversation was exposed to many free members. We proposed they use one-time use links for Zoom meetings and also plan to include this feature in the app by default.
Along with the paid members, the new app will also have something for free members and visitors. A, access to all YouTube video library on getting started with trading and using various strategies will be available on the new platform. Along with it, the client has immense knowledge materials in the form of docs and PDFs, which will also be available for free for retail traders.
Our product discovery workshop helped the team in getting clarity about the way forward. We have already started working on wireframes and have chalked out the path to launch the mobile app first and web app later on with full features.
The client is reviewing the recommendations and will start creating a mobile app soon.