5000 words of essence, teach you to build a knowledge system for Internet financial activities operation

The "2017 China Internet Finance Annual Report" pointed out that the overall level of Internet finance risks is declining and risky cases have been initially curbed. However, the road to purifying the Internet financial market in the future is still very arduous, so the country will inevitably continue to increase its regulatory policy efforts, and the cost of acquiring customers will be higher. On the other hand, with the intensification of the survival of the fittest among industry institutions, the industry's development environment has gradually been purified, and the competition among major giants has become increasingly fierce.

We have also seen the development status of Internet finance in 2017: the growth rate of insurance development slowed down, the wealth management module tended to stabilize, the overall number of securities accounts opened fell sharply, the equity financing boom declined, and the development of consumer finance and payment businesses was very optimistic. So how to seize more market share?

We see that various institutions have tried their best to output a variety of playing styles. The first Internet Finance Management Festival was born in 2015. It can be said that this is the Double 11 of the Internet finance industry, with the largest number of participating platforms. It is also the largest and most rewarding online financial management event in China.

Internet financial products include many aspects: payment, loans, financial management, credit cards, insurance, etc. What I want to share with you today is the operational methods of Internet financial products based on their life cycle. I hope it will give you some inspiration on operational ideas.

Let’s take a look at the financial management user portrait :

The "2017 China Internet Financial Management Annual Analysis Report" points out that financial management users are mainly distributed in the 26-35 age group, accounting for as high as 56%; there are more males than females, and like loan users, people with higher education account for the highest proportion; they are the post-80s generation with a certain financial management awareness. Although the number of Internet users in first-tier cities is not high, the penetration rate is the highest; the number of Internet users in third-tier cities and below is high, the penetration rate is not enough, and there is still a large market space.

As supervision becomes stricter, the growth rate of mobile financial management companies has slowed down, the industry has shifted from wild growth to rational development, and the market has gradually slowed down; however, users' preference for short-term products has declined, and the overall investment period has been extended, indicating that the maturity of financial management users has gradually increased.

The key to operation is to differentiate the scenarios, make financial management social , and make the interaction interesting. For example, we can set up some scenarios that can touch the hearts of highly educated people and attract this wave of users, such as the China Merchants Bank overseas credit card case that was all over the WeChat Moments some time ago. Next, let’s take a look at the product form of financial products.

1. Analysis of financial product forms

By financial product cycle

According to the financial product cycle, it is divided into: short-term + long-term, current + fixed-term + current and fixed-term.

Current account : There are relatively few current account products at present, and the interest rates are relatively much lower. Such users may not have sufficient financial flexibility, or they may not be particularly knowledgeable about financial management. By combining the learning of financial management knowledge, such users can be trained to become high- paying users or long-term users. Generally, learning content is provided, and users can get interest rate increase rewards after completing the learning.

Weekly increase : You can withdraw cash regularly every week and enjoy a certain rate of return. If you do not withdraw the money, the longer the time, the higher the interest. This type of product caters to user groups that require higher flexibility of funds. Such groups are usually low-income people, and the threshold is usually set very low, as low as 100 yuan. This type of financial product covers a wider user group, is more flexible, and has a lower threshold.

Monthly increase : Cash can be withdrawn regularly every month, and a higher rate of return can be enjoyed than weekly increase products. This type of product is suitable for financial management for office workers. It is combined with the 50-day interest-free period of credit cards for marketing to encourage users to manage their finances first and then repay the loan and earn income at the same time. However, frequent operations are very troublesome. If it can be combined with automatic credit card repayment to reduce user operations and improve user experience , many users who are close to the moonlight clan will choose it.

Quarterly High : A medium- to short-term product with medium to low flexibility. As the quarterly term gets longer, the interest rate will also increase.

1-month fixed deposit : usually suitable for people who have surplus funds in the short term. Usually the purpose of the money has been planned in advance or it is known that the money must be withdrawn after one month, or some new users may make a short-term attempt out of consideration for the security of the platform.

2-month time deposit : short-term financial product

3-month fixed deposit : medium- to short-term financial products

6-month fixed deposit : medium-term financial product

12-month fixed deposit : long-term financial product

24-month fixed deposit : ultra-long-term financial product, usually chosen by fewer users

Financial product form

Financial products for novices : In order to attract new users, many platforms usually adopt high-interest policies for new users to attract user conversions . Some platforms offer financial management funds, while others offer short-term high interest rate increases. There are usually other new user acquisition activities during the event.

VIP exclusive products : VIP product customization is provided for high-paying users, who also enjoy higher financial management privileges than ordinary users.

High regular investment : Set a higher minimum investment amount to obtain a higher rate of return compared to products of the same period, to encourage users to increase their investment amount.

Basically, the interest rate setting principle is: VIP exclusive > high fixed investment > ordinary fixed investment

Colleague Financial Management Zone : Usually this type of financial institution cooperates with enterprises and gives corporate employees a higher rate of return than ordinary employees. Usually the cooperating enterprises are larger enterprises (Tencent, JD.com , Alibaba , Baidu, etc.), and employees are required to complete the authentication through the corporate email.

Salary management : bind your bank card, automatically transfer funds every month on payday, convenient and fast.

Change management : Based on the WeChat scenario, Licaitong launched change management, capturing the change in WeChat users’ change.

Member points : Build a points system for financial management users and a points consumption system, such as: redeeming activity participation qualifications, redeeming interest rate coupons, redeeming financial management funds, redeeming VIPs, redeeming prizes, etc. The key to the membership system is to build a closed loop of points mechanism and consumption mechanism.

2. Analysis of operational gameplay based on life cycle

Now that we understand the industry background and product form, we will analyze the main operational methods at each stage from the perspective of the product life cycle .

1. Attract new customers

1) Invitation with prizes :

In order to better increase the number of platform users, invitation-based reward activities are usually set up. For financial products, users try a platform and gradually develop a sense of trust. By stimulating old users to invite their friends through rewards, the effect will be better than simply doing promotion .

Through the invitation, both parties can obtain certain rewards, including cash, interest rate coupons, financial management funds, platform points coins, physical prizes, etc. Usually, a pyramid reward policy based on the number of invitations can encourage users to invite more users.

You need to inform them of the activity rules and how to claim the prizes, otherwise it will add burden to customer service. On the other hand, the reward level of the recommender can be divided according to the holding amount, forming a two-dimensional incentive policy to attract new colleagues and increase the number of holdings of old users.

In addition, the inviter's page is different from the invitee's page. The inviter's page emphasizes that both parties can obtain rewards, while the invitee emphasizes the rewards that he or she can obtain after registration. In order to encourage users to invite, personal connections rankings and income rankings for inviting friends are usually made on the invitation page to stimulate users.

2) Register to receive the grand prize :

This type of activity is mainly aimed at directly reaching C-end users, usually through promotion and reach through other channels ; users discover the activity page on their own and actively join in.

Common channels include information flow advertising , soft-text promotion, platform cooperation, technology websites, offline advertising, etc. The key to external materials is to be attractive enough, such as cooperating with WeChat to distribute New Year red envelopes, allowing cash withdrawals after downloading and registering, or adding a financial management entrance on other platforms.

Currently, every platform hopes to provide more diversified services. For example, users of the Medical Treatment 160 platform will only use it when they are sick. In order to increase user activity, adding a financial management module can prevent user loss by retaining funds. However, if they develop a financial management module themselves, it will increase costs, so the best way is to find a professional financial company to cooperate with and charge through CPC, CPM, CPA and other models.

2. Active

1) Free + Points Prize Draw :

In order to increase the activity of the platform, some games are usually designed. Lottery is a gameplay used in many industries, and you can participate through free trial + points redemption.

However, when setting the winning probability, you must consider the winning probability issue: if you frequently fail to win, it will dampen user enthusiasm; if you win every time, it will increase operating costs, so you need to focus on setting up a good probability model.

2) Gameplay :

In order to increase platform activity, many industries actually adopt a sign-in mechanism, which is usually combined with small games. Signing in will give points, or interest rate coupons, financial management funds, etc. However, in order to increase the continuous activity of users, we need to set up some phased target task reward mechanisms in the gameplay, such as doubling the bonus for signing in for a week, or having the opportunity to enjoy super valuable gifts. The gimmick must be enough to attract users to participate.

In this type of gameplay, it is important to focus on building a refined data model.

First, the population can be classified and analyzed from the perspective of holding dimensions, user activity, and churn. After completing the population dimension analysis, it is necessary to make refined content operations and data model recommendations for each type of population. For example: When setting up interest rate coupons, we can offer high interest rates to users without any positions, thereby increasing the number of users with positions.

In addition, for salary financial management users, providing appropriate content guidance around payday can improve the conversion rate of such users.

You can choose to develop this type of activity page yourself, or you can choose to intervene in other people's activities; however, intervening in other people's activities has poor compatibility, so it is recommended to develop it yourself.

Usually, game development requires large investment and has high user participation, which can greatly improve platform activity; however, the transaction conversion rate is not high, so it is necessary to evaluate the operation goals before determining them.

3) Other creative ways to play :

Combine current hot activities that users are happy to participate in to package your products, attract users to participate and learn about the activity benefits.

For example, the appearance red envelope, by combining image processing technology, scores the appearance of the picture and gives corresponding rewards. Or by combining it with charity packaging to attract more social attention, such as the charity paintings launched by Tencent Charity. Usually this kind of gameplay focuses on being fun, which attracts the audience's willingness to participate and forward.

4) Points mechanism :

Build a gold coin points mechanism to earn points by combining product features, tasks and game rewards.

5) Points redemption mechanism :

Gold coins are consumed by playing games or exchanging points for goods. It would be best if different redemption prizes could be divided according to the user's level.

6) Membership level strategy :

A mature user operation strategy is usually based on building a healthy user membership system, allowing users to enjoy different rights and interests under this system, thereby stimulating users to develop in a high-quality direction.

Usually, members are divided mainly based on the quantity of holdings. As for level privileges, it is necessary to combine the company's business categories with the user's personalized benefits (such as birthday privileges, membership gift packages, upgrade gift packages, Thanksgiving gift packages, private services), in line with the pyramid principle . The higher the level, the greater the rights and interests.

7) Intelligent AI technology gameplay :

Combine AI big data to gain insights into user portraits and intelligently recommend financial products.

8) Find bugs and get rewards :

In order to better optimize products, policies such as red envelopes or membership levels are used to encourage users to help optimize products.

This type of activity is focused on early-stage product teams with large user groups and financial investment. In order to quickly optimize the user experience, they launch a nationwide bug-finding campaign.

9) UGC community content production :

In order to encourage the production of UGC high-quality content, a system of author levels is set up: elementary-intermediate-advanced, etc., a reward level system corresponding to high-quality articles is set up, and KOL operation and maintenance are done well to ensure content output while improving article quality.

10) APP store version update and good reviews :

Red envelope rewards are used to encourage users to download the latest software version and submit positive reviews to obtain better application rankings.

3. Retention

When it comes to retention, we may not see too many activities specifically aimed at retention, but in fact, retention is an integral part of the entire operation.

The core of financial products is security, high returns and liquidity. If these three points are met, retention will be easy.

As mentioned in a previous article, the product life cycle is usually divided into four stages: introduction, growth, maturity, and decline . To improve the retention rate of a product, it is necessary to analyze where the product is in its life cycle.

What we usually see is the data performance of a platform at a certain time point, but we need to split the user data. Usually the result data = total number of users + current number of new users - number of lost users . To improve user retention rate , we need to focus on attracting new users, preventing user churn, and doing a good job of returning users.

In terms of attracting new users : We need to focus on the quality of users, try to find accurate users, and avoid introducing too many non-target groups, which will lead to excessive churn rate.

In terms of preventing user churn : We need to do a good job of user churn analysis, pay attention to the user's next-day retention, 7-day retention, 15-day retention and other data performance, find out the situation where the new user retention rate drops suddenly and conduct in-depth analysis. We can analyze from the dimensions of time and user operation path to see if user loss is caused by a problem with a certain function of the product. For example, in the game level setting, if the user pass rate at a certain level is particularly low, it will dampen user enthusiasm and lead to user loss. What we need to do is to find these factors and optimize the product.

In terms of return traffic : Usually we need to analyze: What users are lost? Why is there loss? What are the means of reflux? How to retain users? And how to predict user loss and prevent it in advance. After finding the lost users, we can segment them, find the value points that attract each type of users, reach this wave of users through effective channels, and guide them to return.

In general, it is necessary to do a good job of insight and analysis of users.

As operators, we need to achieve intelligent and dynamic operations. While reducing tedious operational work, we need to provide exclusive services to users in each life cycle and each user portrait in a smarter way. The premise is that we can know the user's consumption scenario under different circumstances and perceive user changes in real time.

4. Revenue

1) Limited time and limited amount of interest rate hikes :

By launching limited-edition hot-selling products on a daily basis, we trigger a buying frenzy among users, increase revenue and activate the platform.

2) Selling long-term and short-term products together :

By selling long-term and short-term products together and increasing the yield of short-term financial products, the highest yield can reach 36%, and using this as a gimmick to attract more users to invest, usually good results can be achieved in the early stages; but any activity will become boring to users over time.

At the same time, the disadvantage of such activities is that the company's investment is large and the investment cost needs to be strictly controlled.

3) Super value financial management funds/interest rate coupons + bonuses :

During the event period, users who meet certain conditions in a single investment in designated products can obtain a corresponding treasure chest, and can receive additional cash rewards by completing tasks.

The following activities allow you to share 200 million yuan in financial management funds, and the profits obtained can be withdrawn, which can stimulate users to increase investment through cash rewards.

4) Red Envelope Rain :

Combining the New Year's Red Envelope Rain gameplay, the company's financial products are packaged into the event prizes (interest rate coupons + financial management funds + doubling cards, etc.), using cash red envelopes as a gimmick to attract users to participate in the red envelope rain, increase activity, and improve conversions.

5. Viral Marketing

1) Enough gimmicks, novel and unique :

By planning some new and unique events, we can attract public attention and spread the word.

For example, the 100 million money counting competition, which attracted a lot of onlookers in the form of live broadcast , from the early planning to the police protection on the scene; to the live broadcast of beautiful internet celebrities , the user money counting competition attracted the attention of the public.

Conclusion

This article combines the industry trends of Internet finance and the analysis of financial products based on the life cycle, and systematically sorts out some common operational methods, aiming to enable everyone to look at event operations from a comprehensive perspective.

The process from basic operation to advanced operation is a growth process from point to surface, and the process from advanced operation to senior operation is a process from surface to global perspective. When we gradually cultivate our global perspective, when we encounter any operational problems, we can find the most suitable point to break through the difficulties from the global knowledge network.

Let’s summarize a few key points:

• Understand industry trends : Cultivate foresight and discover new opportunities earlier;
• Familiar with strategic goals : understand your own brand positioning, combine your own advantages and capabilities, and find the business direction that will improve performance the fastest;
• Familiar with product business models : clarify possible monetization models and maximize their potential;
• Global planning ability : Starting from the overall situation, find the best breakthrough method for each point.

Finally, I would like to share a quote from a famous economist:

All social problems stem from economic inequality.

For Internet financial platforms, only by addressing social needs can they develop better. Inclusive finance is to provide appropriate and effective financial services to all social classes and groups with financial service needs within an affordable cost range. Vulnerable groups such as small and micro enterprises, farmers, and low-income urban residents are their key service targets. In the future, Internet finance will enter a period of rapid development of inclusive finance. By combining big data insights, dynamic operating strategies will be provided, and more accurate services will be provided to small and medium-sized enterprises, better online and offline integration will be achieved, and a more harmonious society will be built.

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

Product promotion services: APP promotion services, information flow advertising, advertising platform