Product Engagement Strategy

  • Behaviour 1: Spending money (e.g. paying monthly rent using current account)
  • Behaviour 2: Saving money (e.g. getting daily interest accrual in a savings account)
  • Behaviour 3: Borrowing money (e.g. credit card with reward points or personal loan)
  • Why? Because I want to check my bank account for daily interest accrual.
  • Why? Because I want to review progress and see how much interest has been accumulated.
  • Why? Because I double if able to save enough money and reach the financial goal to buy specific items.
  • Why? Because I fear not having enough money to afford the wedding.
  • Why? Because of uncertainty in the future and feel more security with money in case of emergency.
  • Characteristic: Alex is a 34-year-old working professional in Singapore
  • Value: Enjoy life, love coffee, cars and cooking.
  • Need: Pay for Wedding, Purchase a car, Repay loan, Buy coffee machine
  • Constraint: Inflation is high. No savings and spend all monthly salary.
  1. Salary paid: Money — paying monthly rent and repaying the loan.
  2. Set aside 10% for savings: Money — delay gratification and not able to spend the money now.
  3. Log in to the bank account: Physical Effort — open the app and click.
  4. Transfer money to the savings account: Physical Effort — open the app and click.
  5. Transfer money to the savings account: Physical Effort — open the app and click.
  6. Wait for the next day: Time — it takes a long time to see significant interest accumulation.
  7. See daily interest accrual: Cognitive load — calculate if the amount is correct or not.
  8. Resist the temptation: Non-Routine — there are many excuses to now withdraw and spend the saved money.
  • Trigger: Salary Pay with push notification reminder to set aside money for savings. Simulate the accounts after a year and project the balance if the user starts savings
  • Action: Schedule the transfer of money to a savings pot. See all the progress daily with interest accrual.
  • Variable Rewards: After saving more money and getting closer to financial goals, the user has a strong sense of achievement. Share content to users for tips and tricks to save money and reduce daily expenses. Earn cash back, get notified of discounts and share coupons via the banking platform.
  • Investment: Refer friends to open a savings account with the bank and get a higher interest rate. Unlock new incentives to reduce expenses and save more money.
  • Rewards of the Tribe — Refer friends to open a savings account and earn a higher interest rate.
  • Rewards of the Hunt — Establish a sense of accomplishment by getting closer to a savings goal.
  • Rewards of the self — Create a sense of control when saving money and visualize the progress.
  • Count the number of reminder notifications sent
  • Monitor the number of savings accounts opened with referral
  • Measure the total amount of interest paid to the savings accounts to the customer.
  1. Began money-saving habituation through triggers.
  2. In the action phase, customers perform the behaviour my product intends to habituate.
  3. In the reward phase, customers get the relief they came for.
  4. In the investment phase, the goal is to bring customers back into and through another Hook cycle, further cementing a habit.

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I’m a keen traveler to see every country in the world, passionate about cutting edge technologies.

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Victor Leung

Victor Leung

I’m a keen traveler to see every country in the world, passionate about cutting edge technologies.

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