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Bridging the Gap: How a system connects remote communities with Financial services using CRM
A game changing CRM feature to enhance the leads where user will be incentivized for selling financial products.
PROJECT DURATION
3 Months
YEAR
2021
ROLE
Product Designer
TEAM
1 Product designer
1 UX Designer
3 Product Managers
7 Engineers
2 operations
2 Customer service
DELIVERABLES
Usability Testing, Stakeholder Interviews, Research data analysis, User flows, Information architecture, Mockups, Prototyping, Interaction and Visual design
I contributed as a product designer, focusing on data-driven approaches and strategizing user experiences, shipping features with agility. These efforts played a pivotal role in defining product-market fit, driving the user base from 10k to 1.5 million in 1.3 years.
Dive into the part-1 before you enjoy the series of projects
1
You are here
How a system connects remote communities with Financial services
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Churn rate 🔽 to 8% from 12%
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Daily active users 🔼 90k to 122k in 5 months
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Fastest User acquisition 🔼 0.35 to 0.59 million in 3 months
2
How a system's eligibility model matches customers with perfect Financial products
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Integration of prepaid credit card in the CRM to help population with no/zero credit history
3
Understand the context, and I promise the next steps will be easy.
A system designed to educate, empower and incentivize users for helping their communities reaching financial goals
An affiliate-led financial products distribution platform
Mukesh
Introducing our founding user: "Mukesh"
Let's see the initial journey of "Mukesh"
Open app
Choose category (Credit card, Loans etc,.)
Choose product (Discover, Amex, Kotak etc,.)
Select customer for application
Share referral link
Track lead 🤯
Earn for successful application
Tracking each lead will take 4-7 days and Mukesh had many questions with the system
Process in the background:
User completes the sale
Organization finds the lead
Reports to the bank
Bank verify and approves
User will be incentivized
Day-1
Day-2
Day-3
Day-4
Day-5
Day-6
Day-7
User (Mukesh) questions:
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Where to find my customer information and leads?
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Who will help if my customer has pending items in application?
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How to manage my customers and search quickly to access leads?
What's the challenge with the previous interface?
Multiple notifications for a single lead
The previous system used only static notifications, keeping users uninformed about their customers' application status.
Customer/lead details are barely visible on the card.
Users had to follow up with ZET customer care to complete each pending lead 🤯 🤯 🤯
Gaining insights into the underlying issues from stakeholders
It's challenging for the customer service team to handle all pending leads and calls while coordinating with the operations team.
It's a hassle for the operations team to communicate with banks about pending leads and support the customer service team.
Despite the continuous growth of the user base, the product team is concerned about the 12% churn rate.
The business team stated that losing 1 user results in an average loss of $2,500 in annual revenue.
Forming positive relationships with " Mukesh" and other users helped me build empathy.
Call & chat support analytics review
Playstore analytics review
User logs & Event tracking
Think-aloud sessions
Focus groups & field interview analytics review
Dairy studies (Learning about their daily activities)
Aligning goals prior to designing the feature
To reduce the load on our teams, we went live with "lead progress" feature first
Before
After
Moved profile section to the header
New addition: Users need to add customer details before making referrals to help the operations team track them easily in the backend.
Static notifications were replaced with the 'Lead Progress' feature, empowering users to make informed decisions.
Additionally, a chatbot was implemented to relay lead-specific queries to the customer service team.
"Managing a network of 3500+ customers is a challenge," said Mukesh during user testing.
He’s our founding user, with a network of over 3500 customers as of 2021. He maintained a daily journal to record his regular activities on the app, which helped me realize the need for a CRM system during our design testing.
Name: Mukesh Mehta
His journey: https://www.youtube.com/watch?v=cb6vJGdRApI
Mukesh
I made Mukesh's life easier integrating CRM feature, allowing him to efficiently manage his leads and network at the same place.
Merged customers feature in leads tab and in home screen where users can quickly access
Create new customer
Manage customer profile
Quick search of customers
Now, let's see Mukesh's journey again
User completes the sale
Organization finds the lead
Reports to the bank
Bank verify and approves
User will be incentivized
Day-1
Day-2
Day-3
Day-4
Day-5
Day-6
Day-7
Users can quickly search for their customers and remind them of "pending leads." They will be navigated to the target location using a link, and the user (Mukesh) will be notified until the lead is completely fulfilled.
How it performed: Few impactful metrics that I'm always proud of
12%
8%
Churn rate
122K
90K
Active user base in 5 months
0.59Mn
0.35Mn
Total user base in 3 months
Lessons learned that I can apply for a lifetime...
1. Ship fast, ship often.
2. Focus on the user, and everything else will follow.
3. Navigating through one-day sprints.
4. Embracing the challenges of catering to a non-tech-savvy user base.
5. Design decisions may not be immediately effective, but understanding grows with maturity.
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