How to improve customer acquisition efficiency and achieve 10 times conversion rate within 150 days?

Many friends who work in P2P would say that there is no need to look at conversion rates for P2P and that you can just raise interest rates directly. Use interest points to directly break down all of the user's defenses and drive transaction conversions. Indeed, this is a very effective means that can directly increase transaction volume in the short term, but it also has a problem: it is not sustainable. This will only make users feel good at the moment of the interest rate hike, but they will soon get used to it and you will have no chance to lower the interest rate.

We all care about user conversion because we care about efficiency . The conversion efficiency of operations can drive the scale and profit of the entire company's business. Through research and transformation, we can make business flows more efficient and operational subsidies more efficient. Get the same efficiency with less money and invest the remaining money in higher efficiency. This is a virtuous cycle.

1. How to improve customer acquisition efficiency

When it comes to customer acquisition, it seems to be a headache for everyone in charge of traffic , especially in the field of Internet finance, where supervision is particularly strict, customer acquisition is very expensive, and costs are growing exponentially. However, the traditional application market is slow to grow, and the CPS channel is too watered down, with all kinds of price increases and gun volumes, and it seems to lack a long-term, stable, and high-quality customer acquisition channel .

The following pictures are some screenshots of some of our external promotions on Tongban Street . Judging from the conversion results, we are not satisfied. So how can we find new breakthroughs in customer acquisition and conversion?

Since the end of 2017, Tongban Street has gradually adjusted its customer acquisition from single external customer acquisition to internal and external customer acquisition in parallel. Because we found through data that the number and quality of users brought by internal customer acquisition are among the best among all channels. The biggest advantage of internal customer acquisition is low-cost conversion, which is basically half or one-third of external customer acquisition.

External customer acquisition requires providing a lot of credit enhancement conditions, such as company introduction, awards and financing status, etc. Internal customer acquisition does not require this, as the potential brand awareness will greatly reduce customer acquisition costs. Even if Tongban Street says ten thousand good words, it will never be as good as one good word said by users on behalf of Tongban Street .

Therefore, for internal customer acquisition, we distinguish between invitation acquisition and churn recall. The latter has the special characteristics of Tongban Street, because since its establishment in 2012, the cumulative number of registered users of Tongban Street has exceeded 12 million, and the cumulative number of transaction users is 3.87 million. It has a huge recall base, which is a gold mine belonging to Tongban Street.

Mainly, let’s explain in detail how to invite customers . This core group of people are our TBJ super users . They have a strong desire to share and will actively communicate with the invitees to lower their psychological threshold for investment , so the conversion rate of invitations has been very high. The people invited by the super user will form a super user group, which will continue to split.

Speaking of super users, everyone will definitely ask, what kind of people are the super users of Tongban Street? We basically divide them into three categories:

• High net worth users: TBJ has a high investment amount, and TBJ’s high-level users can be summed up in two words: “rich”!
• High-value users: Their TBJ investment amount and level may not be high, but they have invested almost all the money they can in TBJ and are very active on the platform. In other words, they are "dedicated".
• High-promotion users: Cross-over between high net worth and high value users, the number of invitees and the total investment amount are very high, in two words, "someone".

If you have seen "The Tipping Point", you will definitely be particularly impressed by the character of the salesman who follows the rules of individual characters. They are the kind of people who can convince anyone. So the above three types of people constitute the super users of TBJ.

Then there is a question, how are super users created?

I have a diagram here, which shows a growth channel based on consumers' financial and emotional investments.

The growth of users is accompanied by external contradictions and internal demands. For example, if you have 300,000 yuan but it is not enough to buy a house, but you are afraid of inflation in the bank, what should you do? Stock trading? The risk is too great. fund? I don’t understand it myself. Then you'll be torn between worrying about how to make your money appreciate and worrying about things that are too risky.

If someone tells you at this time that there is a platform called TBJ that he has been using for several years and it has been very good, with a one-year return of nearly 10%, do you think you would be excited? So after you make a few trial purchases, you can gradually use it as your main method of investment. After all, we are still conservative.

And as your income grows steadily, you will continue to check in at TBJ every day, grab coupons, interact with the community, and trade... Your constant emotional investment will allow you to enjoy the fun of investing and continue to increase your investment. And before you know it, you have become a super user of the platform.

Because you highly recognize the platform and you have invested funds that are in line with your own situation. So once you find a friend around you who is in the same situation as you were before, will you be unable to resist sharing it with him?

This is the standard path to stimulate inner needs through life events, then continue to invest, and eventually become a super user.

June 11 every year is our Copper Fan Festival. If you go to the community on Tongban Street now, you will find that there are so many super users who invest to change their lives. And they are the cornerstone of our transformation.

2. In-depth analysis of the underlying logic of conversion

Also studying the conversion rate of super users, why do some people have high conversion rates? Why do some people have low conversion rates? In fact, this is the difference in the underlying logic, and this logic is a simple formula: like = familiarity + surprise.

What is like?

I define liking as the user's perception of your platform. Because they like you, they will actively participate and convert transactions. These likes may come from the benefits of the event, from the recognition of your platform, or from word of mouth among Tongban Street fans. In short, they participate in your activities because they like it.

What is familiarity?

Applying the characteristics of the Internet finance industry, I would further expand on the idea that familiarity = security .

Because users of Internet finance are constantly wavering between security and profits, but when security is zero, no matter how high the profits are, it will be of no avail. Therefore, safety must be the core evaluation dimension. So how do we create a sense of security for users?

Tongban Street usually uses 6 years of safe operation, with a cumulative transaction volume of 250 billion, ranking second in the country. The various material and spiritual care of users, coupled with the interaction of copper fans, gradually condenses into users' familiarity, users' habits, and users' sense of security.

55% of Tongban Street’s daily DAU will sign in, and 71% of the daily traffic will be distributed to the welfare center, Tongban Mall, and community for interaction. These are interactive experiences that users are very accustomed to, because these habits gradually form a greater sense of security for users.

What is an accident?

Surprise can also be abstracted into a sense of immersion, pleasure, and anticipation.

Accidents from strangers are frightening, while accidents from familiar people are surprises. We always like the sense of ritual in life. The favorite thing for users of Tongban Street every day is to wake up in the morning and take a look at yesterday's earnings. It may be only a few cents or dollars, but this is the most pleasant feeling that financial management brings us. We want to amplify these feelings through the functions of the product.

The following three represent unexpected feelings.

Sense of immersion: the social brain and the mirror self

For example, if you buy a white car, you will find that there seem to be suddenly many more white car models on the road. The social brain shifts the focus of your limited attention.

In the Tongban Street community, new users often post questions asking whether the platform is reliable? The unanimous replies below are from people who have safely invested in the platform for 3 to 5 years at different times. Through the mirroring selves of these loyal bronze fans, new users will quickly find a sense of belonging.

Pleasure: Neural Chains and Reward Mechanisms

The sense of pleasure is actually easy to understand. Freud said that all human behavior is to avoid punishment and obtain happiness. So how should happiness in activities be triggered? It only takes three to five rewarding neural chains to easily lead users to become addicted. This is the underlying psychology of subsidies creating user habits.

Therefore, we will design tasks for newbies to guide users in their first and repeat investments, and set different rewards for different amounts of repeat investments, rather than directly setting a high threshold. This gradual satisfaction process will keep users happy. Then the next time the user invests, when he enters the trading scene again, the user's last happy emotion will be awakened and he will trade again.

Sense of anticipation: desire for completion and the Tsai effect

The Chua effect refers to the fact that people are more impressed by things that have not been processed than by things that have been processed.

We will design an activity called Wealth Acceleration, where users can receive a portion of extra income every day based on their investment amount within a certain period, for a total of 5/7 days. This will extend the flow time of the user's emotional experience, extend the user's immediate satisfaction to the next week, and enhance his sense of anticipation.

In addition, the random rewards on the big turntable for signing in every Sunday, the ranking design of the invitation event, and the occasional flash sales in the Copper Plate Mall will all stimulate users, allowing them to constantly feel the unexpected, and continue to like Copper Plate Street more and more because of surprises, and be more willing to stay in Copper Plate Street.

3. Master the operational grasp of conversion in 3 steps

Here are three operational levers:

• Understand needs and find commonalities in user personalities. The main operational means include user story maps and user experience paths
• Establish connections between company goals, existing resources and KPIs. The main operating methods include target decomposition and irrational consumer psychology
• Create value, create value beyond shopping. The main operating means include experience value and material value

We have always said that users are like a pool, with users flowing in and out. We always overconsider the inflow issue and try every means to get users in, but forget the strategy after the users come in. So what we are talking about is improving conversion as a whole, which is not born from attracting new users and dies from retention , but the full life cycle management of users. We should pay attention to growth, but more importantly, we should pay attention to loss.

1. Insight into needs

1.1 User Story Map

User story map is a very good tool in agile development. It is more of a way to keep a panoramic view of the product during the demand splitting process, but it is also suitable for our operations, allowing us to be more comprehensive and refined in the process of research conversion.

Since it is a user story map, the most important things are users and stories. So our horizontal axis is stories, arranged according to process; the vertical axis is users. Let’s first look at users.

The users here must be specific enough, such as Zhao Si, male, white-collar worker, middle class, romantic, and getting married soon. Rather than a certain type of people, such as users in Zhejiang, active users and so on. Because only when your users are concrete enough can your story be vivid, and we can find the breakthrough for conversion from the story.

The story is the task process under the target scenario we set, such as getting up. We can write a process like opening eyes, turning off the alarm clock, staying in bed for 10 minutes, washing, getting dressed, and going out. However, if we add different users, there will be different stories. For example, Zhang San likes to go to the toilet first when he gets up, Zhao Si has to pack his bag before going out, and Wang Wu does not have the habit of staying in bed. So different users will have different user stories.

However, we can still classify and summarize the main backbone stories. For example, when getting up, most users will just get up, wash, get dressed, and go out. Then fill in the details of the secondary story under the basic story, such as someone will make breakfast after washing up, and someone will drink a cup of hot water after getting up. It is important to note that what we need to fill in is the user’s current story, not the story we expect after optimization.

When we expand several user story maps, we will find the pain points and problems.

What is the pain point? Pain points are things that users hate, such as hating the sound of the alarm clock when waking up in the morning.

what is the problem? The question is what is the problem encountered in the current story? Why do this? Because if I don’t have an alarm clock, I will oversleep.

What is the reward? That is, can we motivate users through existing means without changing the product form? For example, if you get up on time, you can reward yourself with a breakfast?

What is creativity? Creativity means that new features and gameplay can solve problems. For example, change the alarm tone to your goddess calling you to wake up? Wouldn’t this be much more comfortable?

Now that we know what a user story is, we are about to formally begin the process of our user story map, as follows:

• Convene project members corresponding to operations and products, no more than 5 people
• Identify the user story topic
• Each person lists 3 user stories on sticky notes and stick them on the wall
• Let's sort out the key stories together
• Fill the skeleton story with extra story details
• Summarize the pain points and problems in the story
• Propose rewards and ideas
• Identify and prioritize the next points to be optimized
• Complete the prioritization after the discussion

1.2 User Experience Path

What if we cannot fully understand the user’s pain points and problems when sorting out the user story map? My suggestion is to create a user experience map. For example, the figure below shows the experience path of a typical old user of our platform, which is the entire process from the first time he opens the Tongbanjie APP every day to the last login of the day.

We have differentiated items based on time and favorability, and connected them into lines, so that we can intuitively find out what the user's pain points are, and what our APP does well and what it does poorly.

Why is the experience path so important? Because we have always made a mistake in the past, that is, we always expect users to keep buying in order to retain them, but we always ignore the fact that many users have already put 100% of their money in Tongban Street, and no matter how many coupons I send them, they will not repurchase. Therefore, what is more important to me is to create experience and prepare unexpected things in every aspect that is familiar to users.

The experience path allows us to focus on improving the problems that users encounter. For example, when a new user registers and doesn’t know how to play Copper Street, we list more than 30 problems that new users may encounter and post them in the community and homepage so that users can solve them directly when they encounter problems.

For example, if users feel that the payment is received late, we will optimize the product logic and advance the payment time to the morning to continuously solve the user's pain points.

Through experience mapping, we can quickly identify pain points and problems in user stories, allowing us to focus on the core points for more detailed discussions.

2. Establish a connection

2.1 Formula method to break down the target

Many students start writing operation plans and designing activity content as soon as they receive the task, but I always believe that more time should be spent on breaking down the goals. Because if the goal is wrong, no matter how well the plan is written, it will not meet the company's needs and will not achieve the established conversion goals.

So how do we break down the target? What I often use is the formula method to break down quantifiable goals. The core of the formula method is funnel conversion, so let’s first look at the funnel conversion of the invitation part.

The conversion process for a newly invited user, from registering on the LP page to logging into the APP and then to trading, is very long, so it is easy for loss to occur during this process. What we need to do is to find out these lost nodes and find ways to improve them.

Number of customers invited = Number of invitations initiated by old users Successful conversion rate of invitations Number of invitations per capita

In the past, when it came to inviting customers, we only looked at these three nodes, and all operational actions were relatively simple.

For example, in order to increase the number of invitations initiated by old users, we continuously improve the resource priority of invitations, increase the traffic exposure of invitation activities, and increase the number of old users entering the activity page to increase the number of invitations initiated. The successful conversion rate of invitations and the average number of invitations per person are achieved by continuously improving the interest points. The strategic adjustment that began this year is that we have broken down the entire formula method into more detailed parts based on user stories.

Number of invited customers = Number of old users reached Share conversion rate LP page opening rate New user LP page registration rate APP download rate Card binding evaluation conversion rate Transaction conversion rate

When we broke down the formula into such detail, we suddenly found that there were many more operational levers to use. For example, in order to increase the opening rate of LP pages, we designed 3 sets of LP pages and copywriting for AB testing, and promoted the form of picture sharing. In terms of transaction conversion rate, we have designed nearly 9 contact strategies that use outbound SMS system message contact to carry out multiple transactions from registration to one transaction.

So the so-called 10-fold conversion is achieved step by step from these small details.

2.2 Irrational consumer psychology

When we were predicting the effects of operational activities in the past, we always calculated the conversion rate of card and coupon usage based on the cost. We always believed that the more powerful the card and coupon, the higher the conversion rate. This logic is certainly correct, but we often find that expectations are very different from reality.

Through the data, we gradually discovered that users' investments are not purely rational behaviors (although they think they are definitely rational). The card and voucher usage rate of our high-level users is only 9%, which means that they are unwilling to calculate the gains and losses too much, and they purchase selectively according to their own investment habits.

Here are a few words listed: adaptive bias, egg theory, sunk cost, and mental accounting . Let’s look at each one individually:

1) Adaptive bias

This is a relatively uncommon word. What it actually means is that your feelings are strongest at the moment of gaining or losing, but you will eventually adapt to it. So what is emphasized here is how to prolong the user's happiness.

• One is to give it in stages , where users receive a share of income every day and gradually increase it, making the users reluctant to lose it. What I hate most about activity incentives is taking off all clothes right away. Users need to be given a sense of ritual, and any penny given to users will be used as a congratulations to you through various channels.
• Another type is constantly changing stimulation , which is designed with randomness. Different reward conditions are set for different users. For example, for sign-in, it is necessary to set a critical hit. When the user is numb to the sign-in reward, a critical hit will stimulate the user.
• Finally, it is for comparison . This is human nature, especially for girls. Our users often post in the community saying that they have received gifts from Tongban Street. Someone will then ask me why I have not received any gifts after three years on Tongban Street. Others will reply that when you invest money to become a diamond user, you can also receive gifts. Often the poster will reply that they have already received many similar gifts and don’t really want any. In fact, we guide users to post these reviews, but such comparisons are formed spontaneously.

2) The Egg Theory

It is said that the more you invest in an emotion, the more you overestimate its value . For example, IKEA gains a sense of happiness by assembling furniture, and Xiaomi attracts a large number of Mi fans through a sense of participation.

This is our strategy for high-level users. We will regularly collect user feedback and feed it back into our operational strategies. For example, the amount and quantity of daily coupons at the welfare center, gifts in the points mall, etc., will guide users to gradually invest and make them like us more.

3) Sunk costs

This is actually quite common. The so-called routine: half price for the second cup, the more you top up your membership card, the more you get free, all of these are creating sunk costs for you. So what we designed is to provide exclusive incentives for different users. For example, user A has already invested 500,000 yuan, and the additional interest rate he enjoys on his new investment is 0.5%. Then user B has already invested 100,000 yuan, and the additional interest rate he enjoys on his new investment is only 0.2%.

When users buy the same product, their benefits are different, so every time they want to withdraw cash, they will weigh whether it is cost-effective, because on Copper Street, the more you buy, the greater the sunk cost, and the more benefits you will get.

4) Mental Accounting

Everyone keeps money of equal value in different mental accounts. The same goes for investment. Users spread their money across different platforms (although this does not effectively reduce risk). So what do we need to do to encourage users to increase their investment?

We will not overemphasize the concept of how much to invest because this is money put out by users. We will continue to strengthen the benefits generated in the future. Because we found through push data that copywriting such as 8% in 90 days, an investment of 10,000 yuan can earn a maximum of 405 yuan is the easiest to attract user clicks.

We want to guide users to imagine the benefits that can be generated in the future, which can make your life better, but where exactly will the benefits be? Maybe it’s a breakfast, maybe it’s a trip, maybe it’s something you want. These can open the user's psychological account.

3. Create value

3.1 Experience Value/Material Value

The material value is easy to understand. Users come to the platform to invest, hoping to gain returns and buy, so it is imperative to ensure a good user trading experience. However, it should be noted that different users have different needs, which requires different experience paths and reach solutions.

For example, we have broken down TBJ's high-net-worth users into three dimensions: continuous retained users, upgraded users, lost and recalled users, and new users.

Continuously retained users refer to those who have been stable high-net-worth users for a certain period of time and are mature users. Upgraded users were not such users before, but have recently become high-net-worth users through increased investment and are in the growth stage .

Recalling lost users means guiding users in the silent period/decline period back to the introduction period through manual contact by operations. New users are those who have just completed registration and first investment, and are typical introductory users.

There are significant differences between the four types of users, and we must use different strategies. The specific user ratios are shown in the figure:

We will find that most of the new users’ concerns are about education related to functions/products/investments. For example, they don’t know why they need to do risk assessment, don’t understand the direct differences between products other than the number of days, don’t know how to recharge to purchase products, don’t understand how to use interest rate coupons, etc. So what do we need to do? User self-education must be achieved through productization.

The optimization of experience requires the stimulation of interest points, so what is indispensable for us is the strengthening of material value, but what kind of coupons to issue and when to issue them are also worth discussing.

The figure below shows the new user conversion path of our 1.0 era in 2017 (for desensitization purposes, we did not use the latest 2.0 version in 2018). We have several nodes: first investment, no transaction within 3 days after registration, 1 day before payment, and no transaction within 3 days after payment. We will design corresponding contact strategies.

4. Practical case sharing

1. Data results

Let’s first look at the changes in the past 150 days from the results. We started to promote the optimization of invitation acquisition in December, with a month-on-month increase of 32% in January, 257% in February, 74% in March, and 56% in April.

The figure shows the entire growth curve, and the number of invited customers in a single month has increased tenfold. But we cannot just look at the bright side. In February, we were also attacked by wool, which resulted in an abnormal increase in the monthly rate.

So in the past 150 days, we actually made a lot of targeted moves. The seemingly scattered strategies are actually developed around two threads, namely the core themes of two sets of invitation activities and monthly node-type breakthroughs.

1.1 The core story of the two invitation activities

Those who can actively initiate invitations are usually high-promotion users among super users, and such users are generally divided into two categories:

• The first category is high-net-worth users who have already invested a large amount of money and hope that the friends they invite can increase their investment returns.
• The other category is high-value users who do not invest a lot but have already invested their entire amount. They expect the per capita income from inviting friends or the extra income from their friends’ investment.

Therefore, we designed two sets of invitation activities for these two groups of users:

• The interest rate increase activity for high net worth users is to give different levels of interest rate increases based on the amount of your investment, and then add the interest rate increase benefits based on the number of invitations, with the cumulative interest rate increase benefits being 1-2%.
• Ordinary invitation activities for high-value users, rewards are given based on the number of people you invite and the amount.

The ordinary invitation activities for high-value users are superimposed on the interest-increasing cultivation activities for high-net-worth users, forming a direct comparison of the rewards between the two types of users. Once the core theme is determined, corresponding plans are made for resource scheduling in accordance with the company's actual situation.

Raise interest rate and cultivate activities, core development activities, the largest cost investment:

• In January, the interest rate increase activity used the simplest form of interest rate increase coupons, first running through the logic with MVP to open the user's psychological account;
• From February to March, we optimized the process to directly increase the interest rate in the form of copper coins when purchasing products, and launched the 1.0 version of the activity, forming a habit of raising interest rates and gradually increasing the sunk costs of users;
• In April and May, the core team adjusted the user reward rules, added interest rate increases based on the length of service for old users, optimized reach and visual conversion, optimized the 1.5 version of the activity, and continuously adjusted users' adaptive bias towards interest rate increases.

Ordinary invitation activities, more based on node breakthroughs, quickly adjusted with minimal development:

• From January to February, we increased the reward for each person, and continuously optimized the relationship between the number of invitees and the reward through visual means to stimulate users (there was a wool attack during the Spring Festival);
• In March and April, in response to wool attacks, the reward plan was adjusted to reduce the head reward and increase the leaderboard reward;
• In May, a profit-sharing activity was launched, which directly used the investment amount of the invitee as the basis for the reward of the inviter, continuously optimizing user quality.

1.2 Manufacturing node breakthrough

We had a lot of discussions about the invitation scenarios, and tried the Spring Festival scenarios and female sharing incentives in February and March. The inspiration came from the creativity we had when we were making user maps.

In the past, the Spring Festival was the time when we had the lowest number of invitations, but we believe that the Spring Festival is also a rare time for everyone to sit down together and chat wholeheartedly, eating melon seeds. Due to the age level of our users, their topics are always about houses, money, and children. When someone brings up the topic of investment, it is actually a very suitable environment to initiate an invitation.

Therefore, during the Spring Festival, we stepped up the activity of inviting a certain number of people to give away mobile phones. As a result, we were attacked by wool-collectors. One person invited more than 1,000 people to trade in one day. After reviewing the situation, we found that it was originally a gimmick of interest, but the upper limit of invited users was set beyond the limit of ordinary users, which in disguise attracted wool-collectors.

So in the next adjustment, we quickly optimized the quantity limit. During the 38th Festival, we launched an activity where you can invite three close friends to each get a lipstick. That is, if you invite three close friends to invest a certain amount, all four of you can get a lipstick.

The logic of this activity comes from the consumption impulse of female users . When men are invited to activities, they are often unwilling to take the initiative to communicate with people around them many times and guide the operation of Tongban Street (because there is still a certain threshold for the first operation, which requires card binding, evaluation, etc.).

Women are different. They especially like to discuss these things with their girlfriends, especially when we have found this hot-selling lipstick, which is a great value. The promotion lasts for 3 days and there are 1,000 lipsticks available while stocks last. Users kept calling to ask if there were any lipsticks left, and even colleagues around them started to invite us. But what they didn’t know was that the number of lipsticks was just a number we changed on the page.

Therefore, the overall effect of this activity is very good, and the quality of the entire user base has also been greatly improved compared to the Spring Festival. However, we also encountered the common problem of counterfeit goods in beauty e-commerce . What I want to point out is that choosing the right user group and the right conversion plan will significantly improve your conversion rate.

Another breakthrough point is the task guidance for novices, because users lack a sense of security on the platform after registering on Tongbanjie.

Based on the original novice tutorial, we have added a task system, that is, you can get rewards by completing real-name authentication and risk assessment, and investing different amounts.

Through phased rewards and task guidance, new users will gradually complete their investment in the novice period. In the first month of the activity being launched, the transaction conversion rate of new users doubled. The detail is that our first version of the novice task is a purely manual version, which means that all rewards are awarded manually.

So we don’t necessarily need fancy features, we just keep working hard to optimize for KPI.

So in general, 150 days is not as simple as holding an event every so often. Improving conversions is not something that can be achieved overnight. Each step in the formulation of a strategy is accompanied by continuous attack and defense drills. Conversion points are discovered through super user story maps, and the details of conversion are continuously deduced through formulas.

2. Review process

After talking about the results, let’s talk about the logical basis of these actions. We applied the three tools mentioned earlier: user story map, indicator decomposition, and consumer psychology.

The PPT shows a simplified version of our user story map. By sorting out the user stories, we will find that they are very different in the same invitation activity.

Through stories, we can find ways to improve conversions during the invitation process, and find the right consumer psychology to satisfy users based on their personal experiences. At the same time, we can prioritize projects based on our own company’s resources and gradually advance them.

Which functions are currently available and just need to be packaged? Which new features need to be added later? Which ones can be tested manually?

The analysis of the formula method on the next page presents the details of the specific conversion funnel process. If the user story map pursues individuality, then formula decomposition pursues the commonality of users. In terms of conversion, which steps need to be optimized? What steps are we missing now?

By gradually improving these details and improving each step by 10%, we will have the possibility of improving the final result by 10 times.

Of course, we can’t help but make some additions to the recent wave of P2P collapses. We will not discuss the pros and cons of other platforms, or the analysis of the reasons for the collapses. Let’s see how we should respond if we encounter similar problems and user loss continues to increase? Some brands are involved here, but I will try my best to sort them out from the operational level.

I have divided it into four levels here, namely content side, function/service side, user side and activity side.

In order to have a strong impact on users, we must remember to speak in human language and in words that users can understand. For example, Tongban Street will focus on the points of legality and compliance, and being considerate, safe and worry-free. In a word, we hope to convey to users through these: Tongban Street is very stable.

author: Qiao Mu, the operations director of Tongbanjie, authorized Qinggua Media to release the article.

Source: Duiba Operation Help