CollX's In-App Chat Negotiation Boosts Retention Rate by 75%
Technology Category
- Application Infrastructure & Middleware - Middleware, SDKs & Libraries
- Robots - Robot Application & Programming Software
Applicable Industries
- Cement
- Transportation
Applicable Functions
- Logistics & Transportation
- Sales & Marketing
Services
- System Integration
About The Customer
CollX, co-founded by Ted Mann in early 2022, is a sports card trading app with over 250,000 users and 10 million sports cards in its database. The app was inspired by Mann's children's love for sports card trading. CollX provides a fast and efficient way for collectors to determine the current market value of their sports trading cards by simply taking a photo of them. Users can then decide whether to add the cards to their digital portfolio or trade and sell them to other CollX users. The app also features an in-app chat, which users can use to connect with other trading card enthusiasts and negotiate deals.
The Challenge
CollX, a sports card trading app, initially integrated Stream Chat to add a social element to its platform. However, they soon discovered that collectors were using the chat feature to negotiate and bundle deals for trading cards. To increase conversions and user engagement, CollX needed to streamline the negotiation experience within the app. The challenge was to reduce the back-and-forth messaging between collectors and make the deal-making process more efficient and user-friendly.
The Solution
CollX leveraged the flexibility of Stream's React Native SDK to engineer a custom in-app chat negotiation solution, known as the 'Deals' feature. This feature allowed collectors to browse other users' collections, bundle the cards they wanted to buy, and make an offer. The offer was then shared with the seller over chat, where they could make a counteroffer or sweeten the deal with free shipping. Once the seller accepted the deal, Stream Chat sent a system message to prompt users to make shipping and payment arrangements. This innovative solution cut down on the back-and-forth messaging between collectors, making the negotiation process more efficient and user-friendly.
Operational Impact
Quantitative Benefit
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