Analysis of JD Finance’s private domain operations!

Regarding the financial industry's approach to private domain traffic, we have previously discussed the case of China Merchants Bank, which mentioned many highlights of private domain operations , such as benefits that almost cover users' food, clothing, housing and transportation, and timely collection of user survey feedback, etc.

However, since China Merchants Bank's private domain operations focus more on users' life service scenarios, its operations will be more inclined towards the e-commerce and retail industries.

However, the financial business we usually pay attention to may be more focused on securities, funds and other financial management-related aspects. Therefore, these businesses will still have many differences in private domain operations.

In fact, before the concept of private domain traffic became popular, the financial industry had always pursued "developing new customers and tapping the potential of old customers", which is the same user operation concept, but it has not been implemented as detailed as it is now.

With the popularization and implementation of the private domain concept, especially the continuous maturity of private domain operation methods based on the WeChat ecosystem, many financial companies seem to have found a private domain gameplay that suits them and have achieved good results.

Today, we will take JD Finance, a representative Internet financial company, as an example to analyze the financial industry’s common practices in private domain operations.

According to official data, JD Finance, as the personal financial business brand of JD Technology, currently has a total of 420 million transaction users. It mainly provides personal financial services to users through cooperation with nearly 1,000 financial institutions such as banks, insurance companies, and fund companies.

The core businesses include JD White Receipts, funds, JD Small Treasury, co-branded Xiaobai Card, etc., with a total of nearly 10,000 financial products and services, covering the three major business segments of personal finance, consumer installment, and insurance protection.

So, how does JD Finance achieve growth in part of its business through private domain operations?

Detailed explanation of the activity process

Activity Flowchart

The first step is channel diversion

JD Finance’s approach is different, starting with building its own exclusive private traffic pool.

For old users who have registered for many years, they will act as exclusive consultants and directly call and chat with users one-on-one to ask them to be their friends through their corporate WeChat accounts. In this case, users generally will not refuse.

As for some new users, JD Finance uses financial management courses for novices to attract traffic.

How is it done specifically?

• WeChat service notification

First, for old users, since JD Finance has their mobile phone numbers, the best way to accumulate traffic is to confirm their identities through private phone conversations, and then use corporate WeChat plus the user’s personal WeChat account.

After the user answers the call, he or she will immediately receive a service notification on WeChat to add the enterprise WeChat friend. This is accurate and effective. Moreover, because the enterprise WeChat has the official JD Finance logo, there is no need to worry too much about the risk of fraud.

• WeChat Official Account

Next, JD Finance will guide new users to follow its WeChat public account matrix through advertising and other means, and then use the "0 Yuan Financial Management Course" to settle users in the private traffic pool.

In order to make this free trial class more valuable, JD Finance will first push an exclusive learning material to users, and even provide special class tools in the official account menu bar. All of this is to highlight the value of the free course.

Another way is to attach a link to a free financial management course under each tweet in the official account. Users can click on it to see a very detailed course schedule and screenshots of learning feedback from previous students, thereby building word of mouth for the course.

• Official APP

On the official app of JD Finance, there is also a registration list for the "7-Day Financial Management Practical Course for Newbies", which provides clear answers to some questions about the course.

Of course, these users who are attracted by free trial classes have only one final settlement path: first, add the teacher’s corporate WeChat, and then be invited to join the study group according to the actual course situation.

The second step is to accept traffic

Regardless of whether they are new or old users, JD Finance will first move them to corporate WeChat.

For users attracted by free financial management courses, JD Finance will list the benefits that users can get in advance, and automatically push greeting words after adding corporate WeChat.

Users can clearly see the other party’s personality, such as “exclusive financial management mentor”, “6 years of investment experience”, etc., and grasp the psychology of users who want to make money through financial management at the first time.

Then, at the right time, the "exclusive financial mentor" will promptly invite users to join the course learning group. The course also includes check-in and practical parts, which can enhance users' sense of gain in this course.

After joining the group, the course instructor will also create some community operation rituals, such as the "hometown check-in" at the beginning of the course. After the 7-day course is over, in order to facilitate continuous conversion in the later stage, this group will be retained.

The third step is operational transformation

JD Finance’s core business is fund management, so how does it achieve user payment conversion through private domain operations?

• 0 yuan experience class to attract traffic

JD Finance’s operational conversion is mainly divided into two parts: 1-on-1 private chat conversion and community conversion.

In one-on-one private chats, the most commonly pushed benefit users receive is the "7-day free financial management practice course". The course is aimed at financial management novices, the working class, and married white-collar workers, which cover more than 80% of users.

The purpose of launching this set of courses is very clear. We must first provide users with some popular science so that they can at least have a preliminary understanding of financial management, so that they will take the next step of spending money and managing their finances.

Of course, this set of trial classes will also have a lot of reservations. If users want to get more advanced, they will need to sign up for subsequent high-priced courses.

• Large amount discount coupon conversion

The next step is to push various instant discount coupons and payment coupons to users, and the amounts are not small, such as 400 yuan, 1,600 yuan, or even 2,800 yuan, to attract users to click in.

After users click on it, they will find that these coupons require an investment of thousands or tens of thousands of dollars to obtain, so this is an operation to guide users to convert their investments: the more they invest, the greater the benefits they will receive.

• Moments push

In addition to one-on-one private chats, JD Finance operators’ corporate WeChat Moments are also an important platform for guiding user conversions.

Financial coupons, new bond issuance activities, and other user earnings will be pushed in the circle of friends, creating anxiety about making money while providing channels for financial management, with the aim of increasing users' payment conversion rate.

• Fund Operation

In the practical part of the course, users will be specifically directed to an investment website for actual combat exercises. This will not only attract traffic to cooperative enterprises, but also further stimulate users' desire to make money.

• High-priced course conversion

The end of the trial course is an important node for achieving conversion. The course teacher will directly push high-priced discounted courses to users, and then use words such as "18% off for a limited time" and "last 10 places" to create a sense of urgency and scarcity.

Students will also come out on site to share screenshots of their payment processes, creating an atmosphere that the course is very popular and worthwhile, while also using the herd mentality to guide more users to sign up for the course.

• User questionnaire survey

In order to have a more accurate grasp of user portraits, JD Finance will promptly invite users to participate in questionnaire surveys through the benefits of super-value coupon packages.

For example, "What kind of financial services are you interested in?", "How many times do you want to receive promotional offers?", "Do you prefer to communicate via WeChat or phone?", etc. These questions are very helpful for subsequent refined operations.

Event Highlights

Compared with China Merchants Bank's frequent push of various coupons and its wide-ranging private domain operations, JD Finance is obviously more restrained, but also more targeted and precise.

So, what are the highlights of JD Finance’s private domain operations that are worth learning from?

First, the precise personalities of operators are more recognizable.

In various previous private domain cases, it can be said that the operators have almost no personality. They are either assistants or welfare officers, and give users the feeling of being more like a robot.

The character designs of JD Finance's operational staff are much more precise and specific, with "eight years of financial management experience" and "exclusive financial management mentor", and they even add their own core values, giving people a more real and credible impression.

Second, create rituals to increase users’ sense of belonging.

In terms of community operations, JD Finance's operators also have a sense of ritual that other companies lack, such as the sign-in ritual mentioned earlier, where everyone says their hometown to seek recognition from other users.

Then at the end of the course, the operations teacher will lead the students to end the course with a "I graduated!" ceremony.

What is the significance of doing this? It can increase users' sense of accomplishment. A course should not end in a half-hearted way, otherwise users will not remember anything and will not feel that the course is of much value to them.

With a sense of ritual, users will feel that they have at least persisted in completing a financial management course, rather than wasting their time in a muddle.

Conclusion

How to acquire new customers when the traffic dividend has peaked? How to develop existing old customers into loyal users? How to convert potential users into real users? These are issues that financial companies need to consider seriously when making private domain layouts.

Since JD Finance has been integrated into the WeChat ecosystem and is one of the leaders in Internet finance, it is adept at conducting private domain operations based on corporate WeChat.

From my personal observation, JD Finance’s financial management class community for novices is held almost every day, and the number of participants is not low each time. It can be seen that it has tasted the sweetness of private domain operations. The next step is to see whether it can go further in refined operations.

In the past, whoever had the traffic controlled the world, but now perhaps it is time to add the word "private domain" before "traffic".