Exploring Cryptocurrency: How Storyly Helped Mudrex to Increase User Engagement

Mudrex is a cryptocurrency investment platform that is revolutionizing the digital asset space. They empower individuals and institutions to invest with confidence by providing state-of-the-art technology, expert insights, and a secure environment to manage users’ crypto investments. Their goal is to help users achieve their financial goals in the best possible way and become their go-to platform for crypto investing.

Challenge 1: Obtaining and analyzing data 

Recognizing the difficulties associated with obtaining and acknowledging user data, Mudrex actively addresses this challenge. In their efforts to overcome this hurdle, Mudrex employs the Storyly analytics dashboard in conjunction with other third-party analytics tools. By leveraging this powerful combination, Mudrex gains a comprehensive understanding of user data, enabling them to obtain valuable insights and obtain a holistic view of their analytics.

Challenge 2: Educating people on cryptocurrency

Mudrex realized that the ways that they were using to educate people on cryptocurrency were not enough. They were looking for more effective alternative ways to educate people on cryptocurrency and encourage them to use different cryptocurrencies. They were in need of more interactive and fun ways to inform their users.  

Challenge 3: Reaching out to more people and Converting them

Mudrex was looking for ways to attract more people and keep them on their app and website. It was to reinforce more people to use their platform and further convert them. Recognizing the need for more interactive and dynamic content, Mudrex understood that enhancing user engagement was crucial. In order to achieve this, they had to focus on creating and delivering captivating content to their users.

And they found Storyly…

Solution 1: Engaging users through Interactive Stickers

With Storyly, Mudrex can engage with their user in a more interactive and fun way via interactive stickers such as quizzes, quick facts, and news. Storyly has provided Mudrex to offer various content and to experiment with different content to see which one is more effective. For example, with Storyly, Mudrex can broadcast news about cryptocurrency and via the “Take a Guess” Story group, they can inform people about cryptocurrencies. The ‘Quizzers’ Story group is also very effective in keeping their users on the platform longer by weekly publishing the names of people who correctly guessed the answer on their “Leader Board”. All of these Story groups have helped Mudrex to increase their engagement and conversion rates. 

Solution 2: Building Trust with the Users 

Storyly has not only increased user engagement for Mudrex but has also played a crucial role in building trust. Through interactive Stories, users are given the opportunity to participate and have their voices heard, fostering a sense of trust and loyalty. This improved interaction quality between Mudrex and its users has resulted in stronger connections and increased user loyalty.

Solution 3: Longer use time

With Storyly, Mudrex can offer enjoyable and informative content through interactive stickers. This engaging content has led to users spending more time on the platform, resulting in higher engagement rates. For example, Mudrex has introduced two Story groups, ‘’the Expert’’ and ‘’Learn’’, to educate users about the crypto industry. These Story groups have successfully increased session duration and improved user engagement.

Results: 

Storyly has been effective in creating engaging content and thus increasing the engagement rate of Mudrex. The increased time spent on the app and website, and the trust built between users have helped Mudrex to enhance its conversion rates. After implementing Stories, the time spent by users on the app increased by 3x. These high-performing Stories effectively engaged users and prompted them to click on the desired links or interactive elements within the stories, resulting in an impressive CTR up to 80%. This significant increase in user engagement further validates Mudrex's plan to increase the frequency of Storyly usage on their pages, allowing them to provide more information to their users.

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