Analysis of China Guangfa Bank’s Private Domain Operation Case

For today’s young people, if they don’t have two credit cards, they may be considered to be out of touch with the trend of the times and out of touch with the ranks of young people.

As the concept of advance consumption becomes more and more popular in China, it has become a norm for young people in their 20s, especially those who have just graduated, to apply for several credit cards to buy electronic products, cosmetics, etc.

At the same time, in order to meet the increasingly personalized consumption scenarios of young people, increasing the credit card application rate is only the first step. The most important thing is how to enable users to achieve more consumption.

Therefore, we can see that both China Merchants Bank and Ping An Bank have specially built a series of consumption paths from the official public account to the official APP for credit card consumption.

However, when private domain operations around WeChat for Business began to emerge, many banks saw the huge potential value therein. After all, it is still impossible to reach users in real time through official accounts and apps, but it is possible through WeChat for Business, and it also has many advantages such as large capacity, refined operations and high efficiency.

Today, we will analyze the private domain operation case of China Guangfa Bank and see how it uses WeChat for Business to tap into the huge value of private domain traffic.

China Guangfa Bank also has its own exclusive credit card APP "Discover the Wonderful", which currently has more than 53 million users and more than 30 million card-bound users. In addition, China Guangfa Bank has issued nearly 90 million credit cards in total, with an annual credit card consumption transaction volume of more than 400 billion.

With such a large user base and consumer demand, how does China Guangfa Bank carry out private domain operations based on WeChat for Business?

The first step is channel diversion

In order to build a private traffic pool for enterprise WeChat, it is actually very difficult to bypass the WeChat ecosystem, especially when WeChat and enterprise WeChat are fully interoperable, the WeChat ecosystem has almost become the most efficient way to attract private traffic.

• WeChat Official Account

Although the overall opening rate of WeChat public account articles is continuing to decline, tweets about activities related to people's shopping and consumption always attract the attention of young people.

For example, the headlines of China Guangfa Bank’s official account activity tweets have almost all received over 100,000 views, which shows that people’s willingness to consume and get the best deals is still very high.

Therefore, using WeChat official accounts as a private domain traffic channel has become the first choice for many companies, and the traffic generation effect can always achieve good results, not only with a high base but also relatively accurate.

• WeChat Mini Program

In addition to the official account, China Guangfa Bank also has many WeChat mini-programs, including "China Guangfa Credit Card", "China Guangfa Mall plus", "China Guangfa Good Discounts", etc.

After users click in, they will see multiple private domain activity diversion entrances, and then through various welfare methods, users will be guided to scan the code and follow.

As a convenient form of online shopping, WeChat Mini Programs can carry more activity content and provide users with a more intuitive display of benefits, achieving better traffic-generating effects.

• WeChat Video Account

China Guangfa Bank has done a relatively good job in operating the video account. In terms of attracting traffic, China Guangfa Bank will pin its own comments under each video, and the content contains some activity scripts and links.

After clicking, the user will directly enter the activity traffic page and then be added to the private traffic pool of WeChat for Enterprise.

Short videos are a hot trend at the moment, especially for young people who consume short videos as their main content. Whether it is to expand their brand influence through short videos or to increase traffic sources, it is a situation that has more benefits than disadvantages.

Of course, in addition to the above-mentioned channels, the official APP of China Guangfa Bank Credit Card, some other third-party platforms, and even offline business halls can be used as private domain scanning channels.

The second step is to accept traffic

The sources of private domain traffic can be various, and the more the better, but the carrier of private domain traffic must be the most suitable, the simpler and more effective the better. After all, the true value of the private domain lies mainly in refined operations. Companies need to reduce operating costs as much as possible to increase the payment conversion rate of private domain users.

First of all, after the user scans the QR code, he or she will be immediately connected to the company's WeChat account. This is because the company's WeChat account can passively add more than 2,000 people at a time, which is much stronger than the personal WeChat account's capacity of passively adding about 150 people at a time, and personal WeChat accounts are also easily blocked.

Moreover, after users are added to the enterprise WeChat private traffic pool, even if individual employees leave, the users will still remain in the private pool and will be seamlessly connected to other employees in office, which can be said to be a once and for all solution.

After adding WeChat for Business, you can not only conduct one-on-one private chat conversions with users, but also pull users into WeChat for Business communities to achieve conversions through group operations. If the latter operation is effective, of course the efficiency will be higher.

Due to the influence of the herd effect, activities such as welfare lotteries and card application recommendations will be more effective in the group, and the conversion cost is also lower. Therefore, the community is also an important way for China Guangfa Bank to carry traffic.

The third step is operational transformation

Once the private traffic pool is built and a large number of users come in, the next question is how to achieve paid conversion.

We have talked about many cases of private domain operations before. We can see that most of the operation methods are similar, but there are some differentiated methods for different industries and different products.

• 1 to 1 private chat conversion

For users who don't like to read group messages, a one-on-one private chat is still needed to trigger it to be effective. One of the advantages of corporate WeChat private domain compared to personal WeChat is that it has official endorsement. In this way, when pushing activity messages, it will not be immediately blocked as a micro-business scammer.

The most common activity in China Guangfa Bank’s private chat is to invite users to participate in the activity of recommending friends to apply for credit cards and receive discounts. As long as the credit card is obtained, the subsequent payment conversion will naturally be much easier.

• Monthly Recommended Products

Next, China Guangfa Bank holds special activities to recommend popular products every month. Not only can users in the group participate directly at the first time, but users can also share the event posters with the corporate WeChat QR code for a second time to attract more potential users and achieve a higher conversion rate.

The prerequisite for getting large coupons is to recommend friends to apply for cards and attract old users through generous rewards to complete fission.

• Community Weekly Lucky Draw

In addition to regular monthly activities, China Guangfa Bank has also set up weekly lottery activities specifically for the community. Users can not only draw various coupons, but also draw credit card funds that can replace cash. Moreover, if they spend a certain amount of money, they can also draw large credit card funds.

In addition, according to the operator's prompts, users can also invite their friends to join the group to participate in the lottery, which can be said to be remembering to divert traffic to the private domain everywhere.

• Moments push

• Holiday Exclusive Events

• Discounts and coupons

However, in addition to constantly pushing users to apply for credit cards, China Guangfa Bank also has its own online mall, which can achieve direct shopping payment conversion through discounts and points deductions.

At the end of the event script, words such as "the lowest price on JD.com or Tmall..." will be added to create a contrasting scenario and increase users' willingness to consume.

Step 4: Fission Growth

Finally, how to achieve continuous user growth based on the original private domain traffic is also a key. In fact, we can see many ways of growth in the operation of China Guangfa Bank. Here we summarize two points.

• Invite friends to help get red envelopes

By inviting friends to authorize logging into the WeChat mini program, users can receive a certain amount of red envelopes. The invited users do not need to apply for a card. It is easy and efficient.

In order to demonstrate the authenticity of the event, operators will post real screenshots of the event rewards to increase user trust.

• Group leader plans to invite friends to apply for a card to get a gift

In addition, China Guangfa Bank also has a major fission growth activity called the "Group Leader Plan", and the rewards for this activity are very generous.

The user first applies to become a group leader, and then invites friends to become members of his group. At this time, the user does not need to ask the people he invited to apply for a card to get the reward. Instead, the user can get the reward if the people invited by their friends apply for a card.

It is equivalent to adding more levels on the basis of the original level of fission activities, so that the enthusiasm of users will be greatly enhanced.

Of course, each private domain operation case has its own highlights. Below, we will briefly summarize two points from this case:

First, the user experience of WeChat for Business is smooth, which is very helpful in improving customer experience.

Whether an employee has resigned or the user's services need to be upgraded, WeChat for Business can achieve seamless integration.

In the past, if an employee left the company and added a user through personal WeChat, they would need to add the user again if they wanted to keep the original user. This was not only inefficient but also easily caused user disgust.

With the help of WeChat for Business, users will only receive a brief reminder during the transfer process. Except for a very few users, if the wording is appropriate, users will not be disgusted, but will feel that the company is very attentive.

Second, there are various ways to divert traffic, which makes it more efficient to explore the value of traffic.

Many times, after attracting users to a certain corporate WeChat account or corporate WeChat community, it does not mean that you only need to operate there.

In fact, for some specific situations, many mutual traffic diversion operations can be performed to increase the conversion value of individual users.

For example, what China Guangfa Bank does here is that it can direct users to another corporate WeChat account for more refined operations, or it can direct users to the mini program mall to increase the user's chance of paying.

With a huge user base of over 53 million, how does China Guangfa Bank achieve refined private domain operations? The answer is digital empowerment. China Guangfa Bank has been fully committed to digital layout since 2019, especially in the credit card business.

Through continuous investment in big data and AI technology, China Guangfa Bank has achieved full integration of customer data. With the help of data, it can gain deep insights into young people's consumption habits and provide precise services around their living circles and interests to meet their diverse needs.

In the actual process of receiving customers, operators can combine multi-dimensional customer tags and integrate customer attributes, customer levels, channel status and other multi-faceted information to accurately push intelligent sales strategies and better meet customer service needs.

In addition, scientific algorithm models can help China Guangfa Bank to accurately predict customer demands, and NLP-based AI technology can achieve contextual semantic understanding, thereby accurately identifying customer intentions and understanding customer needs in seconds.

In order to accelerate and improve the digital service transformation, China Guangfa Bank has a dedicated technology research and development and operation team. Its purpose is to use technology to deeply explore the value of data, select customers scientifically and accurately, and provide high-quality services to customers, so as to achieve ultimate refined operations.

Relying on digital, intelligent and refined operational ideas, China Guangfa Bank has made further progress in private domain traffic operations and achieved steady growth in services and performance.

With the accelerated penetration of the Internet into people's lives, the boundary between finance and consumption is becoming increasingly blurred for traditional banking companies.

Banks that originally only engaged in financial business have begun to penetrate deeper and deeper into people’s life consumption scenarios through credit cards; and the original consumer industries have begun to cooperate more deeply with banks.

As the boundaries between industries are being broken, future consumption scenarios will be more open, and cross-border and ecological integration will become the norm. The most important thing here is the user.

The rise of private domains is inevitably brought about by changes in users, and how sales personnel can provide users with a better consumer experience will be a major focus.