How NerdWallet drove conversions and retention

  • 1 December 2022
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"Often engineers feel like they don't have any impact on the product roadmap or an ability to affect change. With Amplitude, I feel like I'm giving them a way into that conversation." Sam Dalton, Former Engineering Manager at Nerdwallet

 

With Amplitude, NerdWallet has honed in on the back-end decisions that lead to a better user experience. Data provides a lens into user behavior that can tie directly to engineering efforts. Building software from the ground up with analytics in mind enables much richer analysis, unlocking even more insight as the product evolves.

The company uses Amplitude to track and understand the impact of various technical metrics, including how long it takes its app to launch and how that load time impacts retention. That's helped the company bring its load time from 12 to five seconds.

The team also augments its performance monitoring systems with Amplitude, which offers the critical picture of what a user experiences when an issue arises.

What were the insight, action, and outcome? Take a look by clicking below.

  • Insight: Unable to get granular from tools like Mixpanel, Nerdwallet used Amplitude to discover how load time impacts retention and why mobile users were 2x less likely to click through critical flows than web users.
  • Action: Switch from Mixpanel and internal analytics tools to Amplitude – then re-architected apps to reduce load times and redesigned mobile user experience.
  • Outcome: Load times decreased by 58%, mobile conversion rates increased by 200%, and now 60 people at Nerdwallet happily explore data in Amplitude daily.

Now, it’s your turn! 

  • Given how Nerdwallet was able to hone in on load time as a major detractor in retention. What insight have you been able to confirm in your work with data?
  • How do you approach centering customer lifetime value and decreasing product friction in your work?
  • How long does it take to identify the issue?
  • How many teams had to engage in working out a solution?

Let us know your insights in the comments below!

P.S.: Leading up to 2023, get involved in the Community for a chance to give back!


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