When launching financial management products, why shouldn’t we worry about short-term channel costs?

As a preliminary note, with the listing of Internet financial platforms such as Qudian and Rong360, Weibo also relaxed restrictions on Internet financial platforms some time ago. As long as all qualifications are met, they can be placed on Weibo.

Let’s first look at the steps to complete a financial product:

Register - Download - Real name - Card binding - First investment - Second investment

It can be seen that users go through five complicated steps from registration to reinvestment, especially from real-name registration, card binding to first investment and reinvestment. Each step will filter out some users like a funnel.

Many financial clients use registration cost and initial investment cost as evaluation items during their investment, but here are two points to remind you:

1. Registration cost and initial investment cost ≠ the final cost of acquiring users

2. Registration cost and initial investment cost are not the only indicators for judging the quality of channels

The core of these two points is to focus on channel quality and take a long-term view. In promotion , the ROI we should really calculate should actually be promotion costs/user investment costs .

Let me first share with you the industry average:

• The registration cost is between 100-150, and the initial investment cost is less than 300, which is a relatively good situation;
• If it is 300-500, it is basically normal;
• Those above 500 are relatively high.

(This data is for reference only)

In terms of channel placement and assessment, I suggest you look at it in two time periods:

1. 15-30 days optimization period

2. ROI changes from 30 days to 90 days

Why does it take 3 months to judge the quality of a channel?

Let me show you a set of cases (the cases are relatively early, after all, the industry has been banned for a long time)

After three months of user sedimentation, the average daily consumption of this financial management customer is between 6,000 and 10,000, and the ROI is stable at around 1:10. Since the quality of channel users is relatively good, the reinvestment rate is very high. (2015 data)

So I have the following two suggestions for the launch of financial products:

1. It takes 1-3 months of stable investment in the channel to accumulate qualitative changes

For financial management apps, if the cost of adding new investment users can be within 200, it is a relatively good situation; if it is 200-500, it is basically at a normal level; if it is above 500, it is relatively high.

Financial management apps are usually launched within a week, and the registration cost is normally over one thousand. What you should do at this time is to analyze the data of the past few days to see whether the registration rate , real-name rate, card binding and other conversions are still normal.

If everything is normal, it can be invested continuously and stably. Users take a long time to consider financial products, so they need a period of sedimentation.

Generally speaking, after continuous optimization, after half a month, if the effect starts to improve and the cost starts to decrease, then you can continue to do it.

2. Pay attention to the statistics of overall scale and cost ROI

The ultimate measure of channel quality for financial management clients is ROI.

Before completing the investment, the process of "exposure-click-registration-card binding-first investment-re-investment" is required. The click cost and registration cost are used as a reference, but they are not necessarily absolutely proportional to the investment ROI. The quality of channel users needs to be comprehensively considered.

For example, the click and registration costs of a channel are low, but the effect of subsequent investment may not be good and the investment amount is small.

However, although some channels have high click costs and high registration costs, the follow-up investment is relatively good and the investment amount is large. Therefore, the cost of each step needs to be considered comprehensively.

After selecting the channel, which aspects should be optimized to improve conversion rate and effectiveness? There are at least 5 aspects.

1. Is the crowd positioning accurate?

Whether the audience targeting is accurate determines whether the advertisement can be exposed to interested potential customers, which directly affects subsequent clicks, registrations and other behaviors.

Currently, the common information flow advertising channels on the market all include financial management categories in terms of interest targeting, but whether the data packages of the platforms are equally accurate remains to be considered.

2. Copywriting & landing page relevance

For financial products, it is very important to gain the trust of users during promotion. Some advertisements use words such as high returns in the copy to attract users to click, but after entering the landing page, there is no corresponding content, which makes users feel cheated easily, so the copy must match the landing page.

3. Product experience & whether the operation is easy

In addition to the copywriting, landing pages and targeting that can be optimized at the promotion level, the product experience itself is also very important. The registration page after downloading the product, the running stability of the entire APP, the interface design, etc. should all be optimized to the best state before starting the promotion.

4. Whether to cooperate with event promotion

Promotional events are one of the more effective and commonly used means for financial products. Actively cooperating with promotional events to adjust products can effectively increase user retention and investment.

5. Brand awareness and influence

In addition, because financial products involve money, people are more cautious when investing and will not easily choose a platform they have never heard of. Therefore, it is recommended that while doing performance-based advertising, you should also use some brand advertising resources to focus on exposure and establish the impression of a reliable platform, which can greatly improve the effect.

The above are some insights on the promotion of financial products. I didn’t go into detail, such as the materials and creative aspects, because I have published many related articles before. If you also have financial products and are struggling to find a reliable promotion channel , click [Read Original Text] to come and talk to me!

The author of this article @老板娘 is compiled and published by (Qinggua Media). Please indicate the author information and source when reprinting!

Product promotion services: APP promotion services Advertising platform Longyou Century