The product aggregation model of the Internet mobile financial platform and the operation model of multi-level users!

This article is of certain value to product managers and operators engaged in Internet financial products. I hope it will be inspiring to everyone.

Currently, there are numerous Internet financial products and related apps. Today we would like to talk about how comprehensive financial platform products can balance aggregation to produce mutual positive incentives and support to form a virtuous development model.

The so-called mobile financial platform products refer to a large aggregation of multiple financial product forms including mobile payments, multiple consumption scenarios, wealth management products, credit products, comprehensive asset management, intelligent investment consulting, etc. We also call it a pan-ecological container for financial products and services.
Similar products on the market include Alipay , WeChat Pay, JD Finance, Baidu Wallet, and Yi Wallet.

First, let’s start by talking to you about the product level.

1. Product modules and multi-level architecture of the Internet mobile financial platform

Overall, every financial company has a complete product layering framework and underlying infrastructure. Each module has a complete team to support it, and the requirements for product managers in different modules vary greatly. It can be roughly summarized as shown in the figure above.

2. Definition attributes and operation achievement models of different types of users

The quality of a product will ultimately be reflected in user data, so understanding the value and appeal brought to different users at different stages and providing appropriate services and products in a targeted manner is a complete closed-loop thinking model. From this perspective, let’s talk about the classification of users and the business characteristics and operational strategies corresponding to different consumer and financial products.

User Classification

Users are divided into four categories: basic users, payment consumption users, financial management users and credit users. Each type of user has some overlapping behaviors. Converting and sharing traffic, guiding user habits and generating sticky cross-talk are issues that every platform is actively thinking about.

1. Basic User

We also call it a brand new account, which refers to a user who has no bank card linked to him. Converting such users is the most difficult first step.

2. Payment consumption users

For users who have linked their cards, once they complete a payment or consumption on the platform, they are considered to have converted from new to old users. This step is called card binding volume in the industry, and the number of users announced to the public is also based on this data. Similar to the number of cards opened by users in a bank, each bank has corresponding completion indicators. The company also attaches great importance to marketing investment for these users. The marketing activities with large rebates offered by payment platforms on the market are mostly designed to increase the number of card bindings. This is called attracting new customers in the industry.

3. Financial management users

Users are very cautious about their financial management needs and platform selection. This person may be a loyal payment or consumption user, but has never purchased financial management. It is crucial to build trust and experience the pleasure of the first pleasant and smooth profit withdrawal.

4. Credit users

This user group is currently more independent, and the basic customer acquisition channels come from online and offline. Similar online products include Baitiao, Jiebei, Huabei and Huayang Card, which are approved online and used online, and mostly rely on the platform’s own scenarios for capital consumption services, such as Taobao, JD.com and other consumption channels. Offline products are mostly concentrated in industry vertical loans, such as education installment loans, renovation loans, etc. It is a special credit quality that relies on institutional cooperation and offline recommendations. Its use and application are also concentrated offline. The online APP only serves as an entrance to carry out the credit and repayment service process. This type of user has a low frequency of repayment, with only one repayment per month. Exploring consumption and extended demand beyond credit behavior is the fundamental point for retention and activation.

Goals and means of achieving them for different users

1. New users

(1) Basic goal: card binding (2) Further goal: binding multiple cards, binding credit cards (3) Product support and operation means: simplifying the process, channel benefits, instant discount for the first order, pre-setting benefits subsidies

2. Payment consumption users

(1) Basic goal: generate consumption and repeat purchases (2) Deepen the goal: purchase financial management and credit products (3) Product support and operation methods: Consumer users are the core group. The frequency and activity of consumption determine different strategies. Targeted equity trial coupons, interest-free coupons, and cross-scenario recommendations can be issued. Expand available scenarios and promote e-commerce . Consumption + credit. Gradually migrate to financial management and credit.

3. Financial management users

(1) Basic goal: Generate the first trust and repeatedly deposit funds for investment
(2) Deepening goal: Transformation of pure financial management users into consumption behavior, forming a fixed consumption, investment and sedimentation place for assets (3) Product support:

1. Elements of financial products: security, profitability, liquidity, and timeliness
2. Categories of financial products: Flow category - current account; Flow category - fixed deposit; Gross profit category - transfer; Emerging category - insurance, crowdfunding

(4) Operational methods: asset supply driven, yield is the fundamental; gamification : points, superimposed additional benefits, user level differences; highlighting the sense of return, investment consulting.

4. Credit users

(1) Basic goal: generate loan behavior and repay on time (2) Deepen the goal: cultivate consumption habits and form a sense of belonging in daily life. (3) Product support and operation means: Personalize the homepage to stabilize basic needs; support credit payment in consumption scenarios; consider the relationship between the time period and the user's fund allocation, and provide targeted preferential push notifications for consumption scenarios before and after the repayment period; use PUSH notifications for credit collection and consumption behavior to increase the push switch opening rate.

We look forward to sharing more content with you.