Onboarding project | IDFC FIRST Bank

Ideal Customer Profile

Define your ICPs

[Delete the one you don't need]

B2C Table ⤵️

Criteria	User 1	User 2
Name	Rhea	Vikas
Age	28	35
Demographics	Tier 1 city, Unmarried, High earning corporate role, High Disposable income, Earning 20-40 lacs, Travelling abroad 2-3 times a year	Settled in tier 1 city, born and brought up in Tier 1/2 city, Earning 30-70 lacs, Married or settled, High Disposable income, No kids, In senior to middle management roles, Travels abroad 1-2 times a year
(refer the table below)
Need	Looking to travel abroad soon, planning the trip with friends/bf. Trying to identify the best way (hassle free) to do transaction/pay in the foreign country	In the market to identify best mode of transaction for upcoming travel with wife
Pain Point	Doesn't want to carry too much cash due to security issues. Doesn't want to go to a bank to get a forex card. Doesn't want to bogged down by details	He has to consider too many things: 1) What & how much cash to carry, 2) Best forex card to carry (and their related charges), 3) Which credit cards for international lounge access. Too much work for too little reward. Values his time
Solution	An all in one credit card that gives you: The benefits of forex card (zero forex fees) No hassle of carrying cash (interest free global ATM cash withdrawals at flat charge of Rs 200) International and domestic lounge access A stylish metal card that makes a fashion statement	An all in one credit card that gives you: The benefits of forex card (zero forex fees) No hassle of carrying cash (interest free global ATM cash withdrawals at flat charge of Rs 200) International and domestic lounge access Now earn Reward Points on your foreign transactions too! Feels premium
Behavior	An outside person. Likes comfort, luxury, liberal with money. High spender, likes to go shopping (offline), dining, live events. Need to stand apart Heavy social media user (4-5 hours) - Insta/Snapchat. Consumes travel, cooking, beauty, ASMR etc High value to luxury brands	Hard headed, driven, competitive, ambitious. Has taken lot of effort to reach current status. New to luxury but loves it nonetheless. Low-Medium social media user (0-2 hours) - prefers YT Consumes News, Geo-politics, Gaming etc Value with luxury
(refer the table below)
Perceived Value of Brand	High	High
Marketing Pitch	Never worry about carrying loads of cash or multiple cards when you can get it one flashy metal card: Tagline could be: Luxury of Metal and Peace of mind	Now get one card for all your travel needs - whether it is forex markup, travel booking, lounge access or cash withdrawal Tagline could be: A metal marvel for all your journeys
Goals	Suitable substitute for cash with complimentary lounge access.	Save on foreign travels without worrying about which mode to use
Frequency of use case	10 - 20 times a month	10-50 times a month
Average Spend on the product	70k - 1lac/month	1-2lac/month
Value Accessibility to product	Yes	Yes
Value Experience of the product	Yes, high value	Yes, high value
Brand vs Value	Brand matters most. Value wise card should be offering perks that meet the spend requirement	Brand matters but value is close second. Doesn't like to be short changed just because Brand name is good but value is low
Note: This is not an exhaustive list, you know your product better, add/remove as per the context!

B2B Table ⤵️

Criteria	ICP1	ICP2
Name
Company Size
Location
Funding Raised
Industry Domain
Stage of the company
Organization Structure
Decision Maker
Decision Blocker
Frequency of use case
Products used
in workplace
Organizational
Goals
Preferred Outreach Channels
Conversion Time
GMV
Growth of company
Motivation
Organization Influence
Tools Utilized in workspace
Decision Time
Note: This is not an exhaustive list, you know your product better, add/remove as per the context!

ICP Prioritization

Criteria

Adoption Rate

Appetite to Pay

Frequency of Use Case

Distribution Potential

TAM ( users/currency)

ICP 1 (Rhea)

Low

High

Medium

High

2 million user

ICP 2 (Vikas)

Moderate to High

High

2.5 million users

JTBD and validation

A table is shared below for your reference to put down your user goals, respective ICPs, JTBDs and validate your goals.

Goal Priority	Goal Type	ICP	JTBD	Validation approach	Validation
Primary	Functional	ICP 1	Ensuring that they travel abroad with the best card	User interviews	"I want to find the best way for me to travel abroad without worrying about safety (cash issues), transaction declines"
	Personal	ICP 2	Ensuring that they have a awesome travel experience without any worry	User interviews	"I want to travel abroad with my friends and have one primary mode for all transaction needs"

Onboarding Teardown

How to do an onboarding teardown?

Take screenshots of each page of the interface, note each interaction and user touchpoint, and assess based on user empathy:

What is working well on the screen and why?
What is not working and why?
What changes/improvements do you suggest can be made? Why do you think that would be better?
Where does the “aha” moment occur?
Evaluate your onboarding on the cognitive biases.

First Screen:

Doesn't sell the product in an eye catching manner. Why Mayura is not answered effectively?
Doesn't inform the customer as to why those details are required?
Could use the personalisation based on what creatives the person clicked to arrive on the page.
Doesn't reinforce why the customer started the journey? Pain point highlight
We are not priming the customer to be ready to reveal personal information to generate a credit card offer
Progressive reveal: OTP is revealed after "Apply Now" but didn't prime for OTP
CTA is basic, could be changed to try to make the customer envigorated

Second Screen:

First thing is screen inconsistency. From Purple and grey to Orange and red.
Doesn't explain to the user why these details are required
Reasons to buy:
1. Uses the space to talk about product features
2. Customer testimonials as social proofing

Third Screen:

Pop-up questions: Again no hand holding to explain why they need the info
CTA can be personalised to say "generate my credit card"
Priming user to be ready with ITR on income statement
1. Could have been done better with an explanation

Fourth Screen:

Personalisation based on name
Reason to buy mentioned
RTB should have been more animated or pictorial. It is getting overshadowed by the Joining fees, Annual fees, Credit limit
Personalisation miss: User name could have been printed on credit card

Fifth Screen

Progress bar finally comes in. Should have been milestone wise
A simple * being used to mark necessary fields. Can be easily missed

Sixth Screen:

The fields are too big. Instead of address field, could have used Google Maps to auto-fill
Nature of business and Type of industry should be auto-filled

Seventh Screen

These two screens could have been merged.
UPI consent is a cross-sell. No priming was done. Features benefit could have been better sold
T&C looks very intimidating