Understand & Define

What is the core value prop of your product?

👉🏼 PROTECTING EVERYDAY THINGS THAT MATTER THE MOST TO YOU​

How do users experience the core value prop of the product?

👉🏼 By placing/ pushing the card protection plan / digital fraud protection plan along with any basic product Customers buy from NBFCs (generally a personal loan)/ fintechs (while Customers are making payments/ bill payments/ recharges)​

Define the action makes a user an active user?

👉🏼 For online partners like fintechs → placement of my product at at least 30% journeys of checkout page so that my product can be clubbed with their core purchase/ bill payment

​👉🏼 For partners like NBFCs → Pitching my product with at least 30% of their core product sales like loans

Define customer segmentation

🤹‍♀️ ICP Deep Drive​

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For OneAssist:

• Casual users are represented by the CBOs (Chief Business officers), National heads. Their main job is to take high level decisions of selling a particular product. They have a medium adoption of tech-stack and mainly give direction to the executors for selling the product.
• Core users are the ones who handle the entire sales force to sell the products provided to them - e.g. regional sales manager/ cluster sales heads/ partnership SPOCs (like KAM). Their tech adoption is high, indicating frequent use of tools and platforms to manage their teams. They are deeply involved in the trends shown by customers while opting in for a product ad also maintaining the sales for healthy revenue books.
• Power users are mainly the On-ground sales agents (Agents, SDRs, BDRs) and developers/ UX designers. They are the frontliners when it comes to selling the product offline/ placing the product in the online buying journeys for customers. Their decision-making capability might be low, but they are core to the sales operation. On the other hand, Sales Leaders, like Sales Directors, are strategic users who not only use OneAssist products for day-to-day operations but also make crucial decisions, making them both core and power users.User Category

Revenue generated: ​

Products/ features used: ​

Product features which offer my users a good pitch point to the end customer:

1. A digital fraud cover for all your UPI handles and m-wallets for a value cover starting at 10,000 till 2 Lacs (some banks are providing a UPI transaction limit of 2 Lacs)
2. Card cover for both online and offline frauds (including ATM transactions) on ALL cards which the customer owns - cover amount of up to 5 Lacs
3. 1-call to block cards - a worry free service which comes handy in case you lose your wallet. Just call us and we will block your cards for you - yes, ALL of them. :)
4. SIM card blocking - Oh, in case you lose your phone? Chill out, just reach us through any of the friend's phones and we will block that for you too.
5. Free ID replacement - We will happily take the headache of getting your PAN card and Driving license replaced on your part.
6. Dark web monitoring - In this modern age of internet, we see our data being leaked on to dark web every single day!! Hence, worry not, coz we will track your data for you and provide an on the spot intimation if we see anything out of place, so that you can take timely actions!
7. Emergency travel assistance - In case you are stranded and are in dire need to come back to base, worry not. We will help you with your return tickets and also help settle your hotel bills - both in India and abroad.
8. Benefits leading to loads of savings - Whether it is an OTT subscription or discount vouchers, we make sure that every plan customer buys - they get a full value out of it. PAISA VASOOL!

Engagement​

What is the best engagement framework for your product?

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What is the natural frequency of the product?

👉🏼 For offline sales, the product is pitched atleast once in the overall sales pitches done. For online sales, atleast 30% of the journeys are provided with OneAssist VAS product at the billing stage. ​

User segmentation in terms of sales to end customer:

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EnR whimsical summary:

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Engagement Campaigns

Churn

Retention design

• For my business, the retention curve flattens post 30 days of customer plan expiry.
• Which ICP drives best retention - For my business, core users (sales heads) drive the best retention as they are able to take reward and end user value increment in case they choose to stay.

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Best sub - products which drive the retentions are as following: ​

1. 1-call to block cards - a worry free service which comes handy in case you lose your wallet. Just call us and we will block your cards for you.
2. SIM card blocking - Oh, in case you lose your phone? Chill out, just reach us through any of the friend's phones and we will block that for you too.
3. Free ID replacement - We will happily take the headache of getting your PAN card and Driving license replaced on your part.
4. Dark web monitoring - In this modern age of internet, we see our data being leaked on to dark web every single day!! Hence, worry not, coz we will track your data for you and provide an on the spot intimation if we see anything out of place, so that you can take timely actions!
5. Emergency travel assistance - In case you are stranded and are in dire need to come back to base, worry not. We will help you with your return tickets and also help settle your hotel bills - both in India and abroad.
6. Benefits leading to loads of savings - Whether it is an OTT subscription or discount vouchers on merchant sites like Myntra, Nykaa etc., we make sure that every plan customer buys - they get a full value out of it.

Reasons for churn

Top reasons why users churn

Basis the survey results of 151 users, the top churn reasons are as following:

1. Better pricing from competitors - 77%
2. End customers biased towards paying for plans which show outright value e.g. free OTT etc. - 62%
3. Margins are matched and heightened - making the power user to get only the competitor product to pitch to end user - 44%

Identifying the voluntary and involuntary reasons for my users churning

Negative actions to track ​

• Decrease in monthly revenues (from new customers on their platform)
• Decrease in their core product sales where my product is placed. E.g. less loans being disbursed by NBFCs than usual
• Decrease in pitching of my product while customer is buying product from their app/ sales pitches. E.g. instead of pitching in every call/ 30% of the journeys, my product is only being pitched in 50% of the usual metrics
• Low NPS - No or low promotion/ collaterals present on their site for my VAS product - a campaign with a banner to highlight my product (especially in fintechs, where visuals play a high role in decision making along with value description. e.g. only INR 1/ day)

Resurrection campaigns

Campaign 1 -

1. Segmentation of user type - Casual
2. Pitch/ content - Revision of agreement
3. Offer - Taking partner consent to auto - renew the customers once their protection plan expires.
4. Frequency - Yearly
5. Success metrics - By turing an acquisition only partner into a subscriber partner can keep giving me returns in long run because of the following:

Auto renewals (turn on) - basis the other partner data - my auto renewal rate is @60% and these 60% customers do not attract any partner commission - thus giving me higher revenue

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Campaign 2 -

1. Segmentation of user type - Casual
2. Pitch/ content - Addendum for user database access (the ones who do not opt for auto renewals in campaign 1)
3. Offer - send out strategic communications with 30% off code for them to buy any other category plans from my D2C website.
4. Frequency - within 3 months of the user plan expiry
5. Success metrics - ensure atleast 30% of the target expired base

Campaign 3-

1. Segmentation of user type - end customer who has had a successful claims journey (post expiry of plan)
2. Pitch/ content - Provide a monthly plan (on auto renewal basis) which enables end user to get back to us out of goodwill (due to good cx care journey/ experience)
3. Offer - 1st month free plan
4. Frequency - once per user post 10 days of plan expiry
5. Success metrics - 5% of target users to keep renewing plans on monthly rates

Campaign 4 -

1. Segmentation of user type - end customers who have opted for my plan buy=t cancelled it within 15 days of buying from online/ offline channels
2. Pitch/ content - To reduce the cancellations post buying the products by end user
3. Offer - Instead of offering refunds, try to talk to customer about features >>> if that doesnt work >>> try giving discounts up to 30% of the plan value >>>> if that doesn't work provide customers agood market value OTT subscription voucher e.g. Amazon Prime worth 1499/-
4. Frequency - once per customer (only 1st cancellations request to be taken up basis this retention process
5. Success metrics - 50% cancellation seekers should take a discount on the plan value or opt for the lifestyle/ OTT vouchers being offered

Campaign 5-

1. Segmentation of user type - cancelled customers
2. Pitch/ content - Incentivise the cancelled customers to know the reasons of churn and other data points (behavioural metrics)
3. Offer - Incentivise the customers who have agreed to being interviewed by providing them a 1-month free protection plan or by providing them a coupon code of flat 15% off on any of the D2C protection plans availabe on our app/ website.
4. Frequency - As per market research activity with a capping of one incentive / user
5. Success metrics - 70% of the target interviewed people give clear answers to the qestionnaire.

Thank you for reading through my project. This project has really helped me go to the depth of our E&R strategy and how I can impact it even though I am not one of the key users of the product.

🙂🙏

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