Shulou(Shulou.com)06/03 Report--

Bob, head of Wealth Management Product Department of Yixin Technology Center, shared the design of personalized recommended product functions and the function planning method of B-end products.

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Reporter: Hello Bob, first of all, please briefly introduce the products you are currently responsible for, what are the users and core values of these products?

Bob: I am in the Wealth Management Products Department of Yixin Technology Center, mainly responsible for providing online technology capabilities and products for customers and financial planners of our wealth business. The main products are Yixin Wealth APP and Yixin Financial Planner APP.

Yixin Wealth APP provides one-stop online wealth management services for wealth customers, including personalized recommendation of "pre-investment," online multi-mode investment education, etc.; pure online signing, transaction and payment of "investment"; asset analysis, net worth synchronization and reporting of "post-investment," etc.

Yixin Financial Planner APP provides financial planners with a series of online tools including customer management, online marketing, communication and interaction, etc. to empower them with science and technology, so as to help them better acquire customers, gain insight into customers, serve customers and finally achieve sales performance.

Reporter: As you mentioned just now, our products provide personalized recommendation function in the pre-investment link. In recent years, with the rise of big data and AI, intelligent personalized recommendation has become a mainstream trend of product functions. So as far as personalized strategy design is concerned, what methods and principles are there in the front-end function design and user experience of the product, and in the matching of back-end user portrait data with the product? What technologies are used?

Bob: First of all, on the initial financial product selection, we will automatically screen from macro market prediction, asset allocation of large categories, historical performance of products and other dimensions based on big data model, so as to quickly include the best products in the market and the products that best meet customers 'needs into the selection pool, and regularly update the selection pool.

Secondly, through intelligent identification of static and dynamic KYC of users, each customer is profiled, their financial needs are observed from multiple dimensions such as investable asset scale and objective risk tolerance, and clustered and stratified according to different needs of customers.

Finally, machine learning establishes intelligent strategies to connect the most suitable financial products with the right customers and push them to customers through the front-end interface.

Reporter: Design product functions and user experience from user needs, involving algorithms, big data and other technologies, which takes a long time to realize the ideal state of the product. How can product managers coordinate the rhythm of version planning and technology realization?

Bob: The Roman Empire wasn't built in a day, and markets are constantly changing, which requires product iterations to be better able to cope with change.

We introduced agile project management ideas within the team, dismantling the requirements of large product plans, and first releasing an MVP(Minimum Viable Product) at the fastest speed to quickly get market testing and user feedback. Next, according to these feedback data, constantly adjust the product strategy, small steps, fast iteration, so that the product gradually close to the market and users.

At present, the version iteration of Yixin Wealth APP and Yixin Financial Planner APP takes one month as the cycle. The release of each monthly version is called a "release train." Each "train" will "load" which product characteristics and meet which user needs. It will be collected more than one month before the release, and then enter the product design and development stage, which is equivalent to the "pre-sale ticket" of the train. Mini programs, H5, and marketing campaigns have shorter iteration cycles, down to a week or half a month.

Reporter: In the process of product acceptance, how to evaluate and verify the recommendation accuracy of intelligent recommended products?

Bob: Take intelligent recommendation products as an example. The core metric that product managers focus on is the conversion rate from recommending products to completing transactions. From pushing product recommendations to users, to users browsing, completing risk assessment questionnaires, and then completing subscription and payment, we will observe and evaluate whether the conversion rate at each step meets expectations, so as to formulate targeted product improvement plans.

Reporter: It is reported that the products you are responsible for are both for C-end users (wealth business users) and B-end users (corporate financial planners). What is the core difference between the two? How do you define a product as a B-end product or a C-end product?

Bob: There's a line in the book Scenario Revolution that says,"To B and to C are essentially no different because they're both for people." I agree with this statement very much. Whether it is "B" or "C," they are all users and want to use satisfactory products.

If we must say the difference, it may be that the customer base of B-end products is relatively fixed, and they are better at actively putting forward requirements. Product managers need to mine requirements and customize products according to specific customers. For C-end products, it is more necessary for product managers to have a macro grasp of user groups, and be good at using data tools to gain insight into customer portraits and find out the common scenarios and needs of mainstream customer groups.

Reporter: What is the design idea of Yixin B-end products? What user needs are specifically addressed, and from what point of view are the functional settings considered?

Bob: The B-end customers of Yixin Wealth Service are our own financial planners. They are all employees of our company and are relatively fixed. Our overall idea is to improve the overall performance of Yixin Fortune by providing online tools to help everyone improve work efficiency, reduce enterprise costs and ultimately achieve sales performance. Specifically, it includes the following aspects:

In terms of customer acquisition, we provide Mini programs that allow financial planners to quickly share activities, articles, products, etc. without meeting customers, so as to guide them to quickly register, real name and insight.

On the customer insight side, we provide AI-KYC tools to help financial planners quickly gain insight into customer financial needs and preferences in seconds.

In terms of customer management, we provide online customer relationship management tools to help financial planners better manage relevant information, including customer profiles, life cycles, behavior data, etc., so that financial planners can serve customers in real time and truly understand customer needs.

In terms of customer interaction, we provide a series of online marketing tools to help financial planners provide online services to users more conveniently and professionally, including invitation management of marketing activities, asset analysis, etc.

In terms of financial planner management, we provide a series of digital management tools to help financial planners and their managers more conveniently conduct sales management, including activity management, KPI performance management, etc., which greatly improves their work efficiency.

Reporter: Some time ago, there was a very interesting topic in the product manager circle: after 5 years, the product manager will disappear. Of course, some alarmist, but the anxiety of the product circle does exist, how do you think about this problem? The rise of new technologies such as artificial intelligence is also driving changes in product functionality. As a product manager, how do you think you can keep yourself sensitive to new technologies and apply them to our products? What do you think are the possibilities for future product managers?

Bob: I think an industry may grow and fall with the times, but the position of product manager will only grow in importance in the future.

First of all, no matter which industry or company thrives, there is no doubt that the elements of its success are inseparable from user-centered, to meet the needs of good users as the goal, to make users satisfied as the mission, and the position of product manager is user-centered.

Second, product manager is not a labor-intensive position. The core value of this position is to design amazing products through the product manager's own insight into the industry and users. There is insight into user emotions, perceptual understanding of product design, and a keen prediction of the future, which cannot be replaced by machines.

How do you keep a product manager competitive?

1) It is suggested that product managers consciously cultivate their sensitivity to the market in their daily work and life, whether it is recent news, a chat with friends, or trivia encountered in life, consciously discover market opportunities, which is a continuous process.

2) Multi-experience new products appearing on the market, which is an effective way to get new inspiration and master the latest developments in the industry. Fresh products here do not refer to cliché mass products, but to explore more fresh and interesting products and services, always curious.

3) Silicon Valley is still the innovation center of the world Internet. It is recommended to read more original English information from Silicon Valley Internet media. After all, many new technologies and product models still come from Silicon Valley and can be used for reference and inspiration.

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