where'swaldo

build acquisition strategy for Scapia travel card

About Scapia

Consumers in India today spend most of their disposable income either on retail or travel and with the rising disposable income and growing traveller base for local and international destinations, Scapia is building a credit card for travellers who look for simplified, convenient and transparent financial products designed for their unique needs all while enjoying higher rewards on their spend.

source: 50 million Indians travelling aborad by 2030, CAPA 2023 report

What's the gap with the current alternatives?


inconvenience of loading of forex cards or carrying cash and security need for short-term cash or credit when travelling fees and charges hidden fees upfront joining fee without experiencing value proposition	complicated reward struture changing partial value consumption cap on earning and redemption of rewards not real-time inconvenient redemption process

Scapia Value proposition

zero markup fee on international transactions
simplified and crisp fees and charges for users who value transparency
scapia coins as good as digital cash with no cap on how much can be used in next transaction
spend your rewards on what you love most, travel bookings (not a catalogue of random items)
one-click instant redemption
lifetime free card without any upfront joining fee
higher reward rate of 2% on all spends and 4% on travel spends on Scapia platform

Scapia Product Market Fit

Please refer PMF section in the gsheet for questions and user response

Stage: Early Scaling

User Insights

Last active used is within 15 days
users have been making just enough transactions domestically to keep domestic lounge access
users have mostly swiped offline (local usage) and not added card details for online use
willing to pay : some responses Yes, INR 500/1500 annual, depending on international usages
Almost everyone has recommended /WOM to 3+ friends
play store + app store: 10K+ reviews / feedback drawn

User research

mind map for micro-objectives (refer here)
Please refer this Google sheet for following
- Interview questions
- user response

	ICP 1 - Mrutunjaya	ICP -2 Anjan	ICP - 3 Swagat	ICP - 4 Siddhartha
Age	24	34	40	29
Gender	Male/Any	Male/Any	Male/Any	Male/Any
Education	Engineering	Engineering, MBA	Engineering, MBA	Bcom
Field of work	Product	Marketing	Business	Project
Employer	1500+ employees	300+	4000+	100+
Location	Gurgaon	Bangalore	Mumbai	Bhubaneswar
Living since	2 years	8 Years	10 Years	7 years
Income	20 LPA	45 LPA	28 LPA	20 LPA
Marital Status	Unmarried	Married	Married	No
Kids	NA	No	Yes	NA
Living with	Flatmates	Family	Family	Flatmates
Cibil history	800+	780+	750+	750+
Owns home	No	No	No	No
Owns car	No	Yes	No	Yes
Existing credit cards	6	8	2	3
Travel Frequency (local/abroad)	High (10-12 / year)	Medium (5-6 / year)	Low (2-3 / year)	High (10 / year)
Preferred Channels	Google Search, Youtube, LinkedIn	WhatsApp, Amazon, Hostar,	WhatsApp, Instagram	Instagram,BookMyShow, Youtube
Topics they follow	Stock market, Latest Tech Trends, AI	Current News, Non Fiction	Politics, Current News, Stock	Food and Health, Stock, Current News
where do they spend time / interests	spends time effectively on hobbies like playing guitar, create content, learn tech trends and gadgets review, watches Youtube to learn more about culture and history of new places consumes long-form content (negligible reels or browsing) spends most of the time on PC instead of mobile top used on apps are WhatsApp, Gmail, Chrome, Youtube	spends time reading book, newspaper and playing football discovers new book recommendation through whatsApp based group prefers hardcopy over screen for any reading spends weekend dining out and short trips top used apps Mint, Swiggy, fintechs		4-5 hours screen time, very less PC use outside work Mostly on instagram weekend dining out, car driving consumes reels and posts (no long form content) Internet service provider based OTT subscriptions plans trip on his own instead of tour packagaes
where do they spend money	Travel mostly Basic needs: 20-30% Dining out: occasional	Food / Grocery Dining out OTT subscriptions		Travel and Car Weekend Dining Multiple subscriptions (Cultfit, OTT, One, Youtube)
how they value time and money	Money	Money and Time		Money
Financial Literacy	Medium	High		Low
key pain points or needs	holds on to multiple brand cards to apply one with best deal top spend category is travel and hence expects to earn multiplied (5X/10X) reward points on travel spends prefers an aggregator site for bookings to get best deals compare to MMT/Yatra OTP based authorisation when using mobile app for card controls when abroad	caps on point usage when making travel bookings prefers credit card over debit card for higher ticket transaction pay later doesn't like to carry cash for international transactions		carrying cash is not safe when abroad redemption methods on other card is hastle, uses all points on other cards FI card onboarding was not great
user purchase funnel and decision making	discovered through linkedin post prefers a detailed calculated comparision on reward rate, uses credit card review websites compares price on multiple sites before purchase buying cycle of 2-3 days no influencer/blocker in decision visited website instead of app store to learn more about the product	discovered through linkedIn Watched Youtube Scapia product video buying cycle was instant compares final cart price after applying rewards to make bookings no influencer/blocker in decision		discovered through WOM buying cycle was immediate download and sign up did not make any comparision / reviews no website visit etc, source of truth app no influencer / blocker compares price of bookings before checkout
key factors / offerings to signup Scapia	lifetime free card 4% reward rate when bookings made on Scapia	credit card over debit no caps on points on usage zero forex credit cards creative / pitch	Timing zero forex credit card	Timing zero forex cards domestic lounge access
current alternatives they use	IndusInd Legend, Cash	FI card		Cash

Insights

domestic travel to meet friends and explore cities favors for 20s segment vs married (no kid)
keywords : "travel credit card", marketing pitch: "lifetime free", "no charges at all"
users holds multiple existing cards and compares cart price
users are spending to keep domestic lounge access
resource to compare : google search, youtube video comparision

ICP Prioritization

usually travel budget / person for once in an year (assume international travellers) : 70-80K+, < 10 lakhs income : 1 month salary and so on [<10 lakhs Low, 10-30 Medium, 30+ High]
On frequency (local and abroad) : [<3 low, 3-6 Medium, 6+ High], 5000/month minimum for domestic use, 60k per year, 20k budget travellers per domestic trip, <3 Low
Ease of adoption (factors marital status, work-life balance, kids, age, weekend time spent)

Prioritized 2

ICP 1 and 2

	Type	Frequency of usage	Appetite to pay	Target Size	Ease of adoption	CAC
ICP - 1	Early Graduate	High	Medium	High	High	Low
ICP - 2	Recenty Married	Medium	High	Medium	Medium	Medium
ICP - 3	Parent	Low	Medium	Low	Low	High
ICP - 4	Late 20s	High	Medium	Medium	Medium	Medium

Google SEO (Experiment 1)

What customers are searching for?

Objective

discover frequent/gap use cases or pain points
top keywords and combinations on each channel

approach

users will be looking to solve for money related
users will be planning logistics, recommendations, reviews for travel (assume international)
users who recently started making trip or frequent
- rewards/miles/points
- eligibility / joining or annual fee / "travel card" seeker
look for what customers are seeking on competition platform

keyword research

	Scapia	FI Money	NiYo
Google SEO
Youtube
Quora			key needs or pain points acceptance of card in a given country or lounge security or safety features if card lost keywords: "maximum priority pass lounge access", "airport lounge access" "foreign transaction fees/charges/surcharge", no/zero annual fees", "international fees" (160k views) "best rate on forex cards", "forex card"
Reddit

(forex card, International travel, ATM withdrawal, conversion rate, foreign transaction fee / charges, debit card use for international travel, Cash exchange, conversion calculator)

Referral Design (Experiment 2)

Objective : user acquition through referral flow

Brag worthy features of product (app store reviews and user calls): unboxing experience, cool card design, super fluid app experience, close to market conversion rate, accurate statement, huge savings through coins

Platform currency ideas :

For travellers

Scapia coins
lounge pass (say one-time free)
get a Top voice badge providing user reviews on properties (fame among Scapia users, improves platform by encouraging users to write helpful reviews validated by other users) (useful when large user base)