Internet Campus Consumer Finance Market
The transaction scale of China Internet consumer finance market is currently in an explosive period. With the overall development of Internet consumer finance industry, the upgrading of residents' consumption concept and the recognition of Internet consumer finance service model, the market will continue to maintain explosive growth momentum in the next few years.
College students have a large user base, and campus consumer finance has a large room for growth.
College students' credit cards are suspended, and the source of funds can't meet the college students in the period of strong consumer demand. At this time, the platform comes out in stages to fill the gap, focusing on college students without credit cards.
Fun shop, do campus Taobao.
Establish a correct consumption concept and values for young people, and contribute to the country's consumption upgrading and social credit system construction.
Staged shopping platform focusing on college students' service
The owner of the fun shop started to beat college students. With the large-scale expansion of business, the clients were upgraded to young groups including college students, blue-collar workers and white-collar workers, mainly non-credit card holders. Now the number of users exceeds 20 million, of which non-college students account for 30%.
It can be seen from the tabs and home pages of 1.4 and 1.5 versions.
The product is in the initial stage.
1. Establish college students' awareness of installment consumption by strengthening the guidance of "help-seeking" entrance and homepage.
2. Cut into the consumption staging market by buying 3C products. The more independent the scenario, the easier it is to identify risks.
While doing a good job of core functions, the operation strategy adopted by the fun store has also successfully helped them accumulate a large number of users and seize the market quickly.
1. Take the risk of insufficient financing quickly. Within a month, it expanded rapidly from 10 city to 300 cities, rapidly expanded enrollment, and successfully used the word-of-mouth effect among college students to accumulate users.
2. Initiate a "price war" and directly cut the installment interest rate by half.
The product homepage of 1.6 version is almost the same as that of e-commerce products. It uses staged consumer finance as the entry point to drain its e-commerce platform, and at the same time increases staged white bars to realize the entrance of linking more scenes.
In the 1.8 version (at this stage), the product abandoned the widely recognized "fun staging" brand and changed to "fun shop" to highlight its e-commerce attributes. At the same time, as an operation-driven product, the fun shop has further strengthened the activity operation, increased a number of activity entrances, stimulated users' consumption and enhanced activity.
At this stage, the fun shop opened the "future staging" business, extending the target users to users such as off-campus blue-collar workers, and the number of users has exceeded 20 million. In view of the campus business, the "fun help" and "fun part-time job" businesses were launched. In the future, it is planned to add business modules of "Fun Growth", "Fun Employment" and "Fun Internship" to form a "seven product matrix" together with the original business to build a credit system for young people.
The essence of finance is operational risk.
Any installment product must solve three problems: where does the money come from? How to let it out? How to get it back? The final risk control is the lifeline of the product. Traditional banks need to go to the assembly line and show proof of assets and income. Moreover, it is necessary to sign the contract in person, which can be described as a poor user experience, but it ensures risk control to a certain extent. However, there are always regulatory risks in the Internet campus staging industry, and the risk control measures are not highly guaranteed. Long-term borrowing by individual users may lead to bad debts and high overdue rate. So what do fun shops think of risk control?
Risk control measures of fun shops
1. The campus team is full-time, because the part-time job is too fast to control. Although the full-time mode will be heavier, it can control the wind well.
2. Fun shops only do the best quality people, so the risk control requirements are strict, and the audit failure rate exceeds 50%. There is no blind pursuit of lending.
The audit requirements of fun shops: the signing and auditing personnel should be separated.
You must sign the contract at school.
Be sure to leave the phone numbers of teachers and parents (it is said that if students fail to return them within the time limit, the customer service will call the counselor or parents. Of course, I haven't experienced it. . . )
The certification of the fun shop was opened face to face on the spot. Although the user experience is sacrificed, the credit service is well done. According to Luo Min, CEO of Fun Shop, the overdue rate of Fun Shop is the lowest in the industry, which is one fifth of the average level.
The staged product prices obtained by burning money and price wars are the core competitiveness of fun shops.
The same iPhone6s 16G rose gold product, 4288 yuan interesting stage? Staging music 4388 yuan? Love learning loan is 4488 yuan.
Based on the cost of 24 months? Interesting installment 2 18.24*24=5237.77 yuan? Installment music 221.37 * 24 = 5312.88 yuan Ai Xue loan 23 1.44*24 yuan = 5,554.56 yuan.
Through the comparison of three products, we can find that the product price of the fun shop is the lowest.
By observing the original product architecture, we can find that there are four items in the same operation information, and there are also items of previous operation activities on the message notification page. Indeed, fun shops are operation-driven products, and it is necessary to improve user activity and stimulate consumption through activity operations. However, operational information almost runs through the whole process of users using products. In these usage scenarios, such as browsing commodities, withdrawing cash, repayment and personal message notification, extreme operation information has undoubtedly become the interference of the main tasks in the current scenario.
According to the product roadmap summarized above, fun part-time jobs and fun internships are the extension business of fun stores, but the entrance is placed on the home page in the form of banner, and it is not above the fold, but between the product lists, which is easy to form an advertising blind spot. As a business in the "seven product matrices" of the future strategy of the fun shop group, the entrance exposure rate is seriously insufficient.
solution
Reason for revision: As mentioned earlier, there are four entries for the same activity operation information. There is too much operational information, but its contribution to the conversion rate is limited and it takes up a lot of space. Therefore, the revised discovery page changes the activity information to the banner entrance, and presents interesting part-time jobs and interesting new student-aided businesses in the form of a list below, increasing the exposure of new businesses. The list form is adopted because the list has excellent information presentation ability, which makes a single item have high transformation power, and the list form has good expansibility, which is convenient for the product to be modified in other businesses in the future. (Fun Store Group plans to build seven product matrices)
In addition, the highlight of the part-time business of the fun shop can make the fun shop a product of three scenarios of college students borrowing money, spending money and making money, forming a closed loop of financial services for college students.
Scenario 1: The user repays for nearly 30 days.
Scenario 2: The recent installment repayment amount is too large, and the user is temporarily unable to repay.
By joining the re-staging process, the installment amount of this month will be re-staged to realize the transformation of installment income.
Scenario 3: The message informs the user to view the message.
Incorporate activity information in the process of users viewing messages to improve the conversion rate of operational activities.
According to the survey of Penguin Think Tank, the proportion of college students who want to get loans of more than 2,000 yuan is the highest, reaching 39.8%. The proportion below 500 yuan is the second, accounting for 25.5%. This obvious "polarization" fully shows the uniqueness of college students' demand for installment loans: because they can't buy expensive consumer goods alone, they are the first motivation for college students to apply for installment loans; At the same time, due to concerns about repayment ability and economic situation, microfinance is a more acceptable choice for college students in their daily consumption. Therefore, the frequency of installment consumption of microfinance is higher than that of 3C products. In the fun shop, the white withdrawal is placed on the first-level interface, so all operations do not need extra jumps, and the interface information does not interfere, which greatly improves the withdrawal efficiency. Compared with staged music, the cash withdrawal entrance is not as direct as the fun shop.
Reason for modification: the top of the original search results page cannot be clicked. If the user wants to search again, he must click the back button in the upper left corner to jump to the home page, and then click the search bar to search. After optimization, users can directly search for elements on the search results page again, which reduces the user's click operation, improves the search efficiency and reduces the jump between pages.
1. Product details page-insufficient conversion capability
?
The product details page information in the product has not changed with the operation. Whether it is limited time or special sale, there is no corresponding preferential information, and there is no motivation to improve user consumption.
In addition, there is also a lack of information to promote the purchase decisions of different users. For example: service guarantee, staging issues, user comments and evaluations, etc.
Version description:
Evaluation and screening positive user evaluations can make use of good word of mouth to solve some users' concerns about product quality and strengthen users' motivation to buy goods. But user evaluation is also difficult to control, and negative evaluation is fatal to the conversion rate. Therefore, the premise of adding user evaluation is that the product provides excellent user experience.
The revised product details page has two help items, one on the top right of the interface, which is self-service. The other is consulting, where there are operating costs.
However, the staging shopping platform is different from the general e-commerce platform, and the user group is a group of college students. Most of them have doubts about the staging rules and distribution methods. Providing a consultation entrance here can eliminate the obstacles for users to shop.
Function Description: In addition to some basic e-commerce services, such as order management and discount coupons, the personal center of installment products also has two very important consumer finance businesses, quota and repayment.
Description of special scene: 1. New users increase the quota through authentication.
? 2. After purchasing goods by stages, old users need to go to the personal center to inquire about the monthly repayment amount and period, and then repay.
Problem description: 1. The three related information in the interface, total amount, remaining amount and cash withdrawal amount, do not conform to the gestalt principle.
2. Interface vision has two support points, instant cash withdrawal and operation entrance. It can be seen that the two visual support points are to encourage users to withdraw their consumption, but I think this is a secondary scene of the personal center page, where reminding repayment is more important than stimulating consumption.
First of all, risk control is the lifeline of products. If the amount of loan recovery is too much, risk control cannot be guaranteed, resulting in high bad debts and overdue rates, the product will be pushed to a desperate situation. Although the risk control is mainly based on offline guarantee (audit and collection), I think the online interface information design can also remind users and reduce the overdue rate.
Obviously, the repayment scene only exists in the personal center, while the consumption scene exists in the whole product, so I think the repayment here should be the main scene, and too much stimulating consumption information has become interference.
Version description:
After the revision, the latest repayment date information is added to the interface, and the information to be repaid is strengthened to remind users to repay, so as to reduce the overdue rate.
The original stimulating consumption information has not been removed, but through proper processing, it can appear in the right scene and trigger more links.
1. immediately reflects that the button will appear on an empty status page after the debt has been paid off in the past 30 days. In addition, the user can click on the quota information to view the detailed information of the quota, and the detailed information page also provides the entry of the embodiment.
2. The activity operation banner is moved to the bottom, which will not interfere with the main information.
Many product optimization attempts:
1. information architecture-highlights the new business entrance of the product and can be expanded to adapt to future business modules.
2. Process design-optimize the search process and improve operational efficiency.
3. Interface optimization-optimize the product details page to improve the conversion power? Personal center optimization-the goal is to highlight the repayment task.
Generally speaking, the fun shop is an operation-driven product after all, and the changes I tried to make more or less interfered with the operation, which may be difficult to implement in the actual project. I think if data or existing knowledge can prove that there is a certain threshold for the effect of operational information on conversion rate growth, then the presentation of operational information may be weakened. (and my changes did not reduce the operation information, but weakened it. )
Guan Yi think tank
36kr