This article discusses how to build a credit card user analysis system, which is user-centered and focuses on eight questions, aiming to help credit card business better understand and serve users.
Some time ago, I talked about the credit card business analysis system, and there was a message in the background saying that now it is said that it is user-centric, how to build a credit card user analysis system?
Today, I will talk to you about this topic, which can mainly focus on the following 8 questions:
1. What is the user's motivation?
To put it simply, it is to think clearly before releasing a product, what scene the card is in, what problems it helps users solve, or where is the user's cool point.
For example, users have discounts when paying, which is a cool point. There are also some activities, and it is also cool to give away various benefits.
From the perspective of welfare, if you want users to be happy, it is nothing more than the strength, difference and matching degree of welfare.
To make users happy, in addition to the value level, there is also an emotional level, such as providing some services that exceed expectations, when users can't think of what services will be provided, credit cards can think of in advance, this is the advantage, and the service itself is also a product.
Before carrying out user analysis, think clearly about "why users come to apply for cards", and integrate resources around this core problem, and many problems will be solved.
2. What is the user's positioning?
After answering the first question, it is natural to clarify the user positioning, that is, the user portrait. For example, female customers, educated customers, and so on.
It's hard to have a single card that can meet the needs of all customers, and it is necessary to differentiate your business. The more subdivided the positioning, the more differentiated the service, and the more likely it is to win the favor of deep users, and then produce a grass planting effect.
3. Are high-quality customers screened or cultivated?
Can credit card users be upgraded with the age of their accounts, such as from ordinary consumers to high-spending customers, or installment customers?
On the whole, the training cycle of credit card users is relatively long, and it is difficult to increase the improvement of spending power with the longer the card opening time.
Therefore, it is necessary to pay attention to the quality of channel customers, and if the user's spending power is weak during the observation period, it cannot be pinned on the long-term rapid changes in a short period of time.
Of course, long-tail customers are also worth operating for a long time, after all, the cost of traffic is very high now, and in a longer cycle, user consumption habits will also change greatly.
In the short-term re-screening of credit cards, it is necessary to select high-quality channels and high-quality customers, but also to have the ability to continue to operate long-tail customers.
Of course, different product features are different, and you need to design corresponding customer acquisition strategies according to product characteristics.
4. What are the channels for customer acquisition?
With customer group positioning and product characteristics, it is necessary to acquire customers through channels, such as positioning is to call takeaway customers, then you can find Meituan Ele.me to cooperate, you can also go to the business district to get customers, etc.
Of course, the new customers obtained by the channel should be evaluated to be consistent with the attributes of the target customer group, and if not, the customer acquisition strategy should be readjusted.
For example, if the target customer group is a female group, and the results are all male customers, or the target customer group is a takeaway customer group, but there is still no takeaway consumption record for one or two months after the card is opened, it means that the customer group and the target group do not match.
5. What is the cost of customer acquisition?
The explicit calculation of customer acquisition costs is relatively simple, such as how much labor costs, new account incentives, channel fees, etc., but there are two points worth noting:
First, in addition to channel fees, new accounts in some channels will also have special discounts in the card use link, such as multiple points, which should also be counted;
Second, the cost of a single household should be calculated as an active account, if the channel cost is not high, but the activity rate is very low, then the customer acquisition cost of this channel is still very high.
It can also be found from here that the cost of customer acquisition is actually related to business ability, and if the retention ability of new households is strong, it can also reduce the cost of customer acquisition for a single household.
From this point of view, it is not advisable to follow what others do, because with the same cost of 400 yuan to acquire customers, banks with strong operating capabilities can earn money back through business means, but if their operating ability is weak, they will lose money completely.
It is still necessary to figure out where your resource endowment is, to exert force in the area of relative advantage, and to use your own strong points to break the opponent.
6. What are the key nodes for user growth?
It's all about the customer's ability to stay in business and be able to capture and identify key user behaviors. Credit cards have high-frequency scenarios, such as consumption and repayment, and low-frequency scenarios, such as installment and equity.
The key to high-frequency scenarios is to improve user activity and avoid user churn, and the main analysis content includes new account growth, user activity, user retention, and churn retention.
The key to low-frequency scenarios is to improve the probability of transactions, and the main analysis content includes key action analysis, decision-making cycle analysis and user demand analysis.
Of course, it is also necessary to be able to catch abnormal user behaviors and take risk control measures in advance.
7. How much value can users bring?
User lifetime value = average lifetime length * average revenue.
Life cycle length = 1 / average monthly churn rate, average income = net income - risk cost.
For credit cards, there are only three points to increase the lifetime value of users: reducing user churn, increasing user net income, and controlling risks. Of course, the latter two factors are related, and the risk of a higher net income will generally be higher, but it should be kept within a reasonable range.
On the one hand, the user lifetime value can determine the upper limit of the customer acquisition cost of the credit card, if the operating ability can only earn 300 yuan from each user, then the customer acquisition cost can only be less than 300 yuan, otherwise the business can not be sustained, which has been reflected in this year's annual report.
On the other hand, through customer value stratification, we will concentrate business resources on high-value customers, provide differentiated services, and extend the life cycle length of high-value users as much as possible.
After all, resources are limited, and if the resources are completely divided into all customers, then for high-value customers, he is losing money, and the loss of money is also unsustainable.
8. What is the mix of customers?
The credit card customer group is relatively diverse, including ordinary consumer customers, wool customers, cash-out customers, installment customers, high-end customers and so on.
Each customer group has different motivations for using cards, and the value to banks is also different.
For example, installment customers can contribute a lot of income, and cash-out customers can contribute a lot of transaction scale, but these customers have high long-term risks and are greatly affected by the external environment, which is easy to lead to performance fluctuations.
Ordinary wool customers can bring consumption and circle communication, but if they are allowed to develop, form a gray industry, and occupy a lot of marketing resources, they need to be curbed.
The characteristics of the credit card itself determine the diversity of its customer base, and it is impossible to completely eliminate a certain customer group, the key is to have a more reasonable combination in order to continue to operate steadily, especially the real consumer group, which is the foundation of business development.
So far, I have basically shared almost that, and to summarize briefly, there are two main perspectives and two categories for the analysis of credit card users:
The two perspectives are the business perspective and the financial perspective, the business perspective focuses on the acquisition of new accounts, the retention of new accounts and the retention of stocks; The financial perspective focuses on customer acquisition cost and user lifetime value.
The two categories are user attributes and user behaviors, which mainly solve the problems of who users are and how resources are delivered; User behavior analysis focuses on what users are doing and how to adopt business strategies accordingly.
This article is written by Everyone is a Product Manager Author【一丁小站】, WeChat public account: [一丁小站], original/authorized Published in Everyone is a product manager, without permission, it is forbidden to reprint.
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