This is an article that I wanted to write a few months ago. Unfortunately, on the one hand last year there were too many things and I couldn't make time for it. On the b2c email list other hand, I always had the obsession of a "perfect article" in my heart, so I didn't write it for a long time.
This is a common thinking trap. We often dare not take the first step to get 10 or 100, but in fact 0 and 1 are fundamentally different .
So this is still a rough article, but instead of 0, it is better to have 1 finished product.
01 Insurance also needs [growth hacking]
AARRR (Acquisition-Activation-Retention-Payment-Viral) is a well-known user growth model for Internet products.
Internet insurance has also explored the application of this model. The biggest one is the 15-year-old Ping An, the “four markets, two clouds, and one door” around the needs of “medical, food, housing, transportation, and play” . strategy.
Today, major applications in this strategy, such as Ping An Haofang, Ping An Hao Car, and Ping An Hao Car Owner, have all died down.
The practice of building a movie theater to sell popcorn has proven to be unworkable.
However, the insurance model of 1 yuan in the first month turns insurance products into a model similar to Internet products. The b2c email list low threshold of 1 yuan in the first month carries the function of [acquiring customers-activation] , and a large number of users with low threshold join, how to get the follow-up user retention. , Repurchase has become a problem that major Internet insurance players have to pay attention to.
This is when the theory of growth hacking finds its best use in insurance.
02 Make a hypothesis
This point I shared a little in the article "How to Make Good Hypotheses in User Growth".
Last year, when solving the problem of customer retention in an important channel for the first month of the first month, I first delineated the boundary of version 1.0: that is, to improve the renewal rate (deduction success rate) of M2 (the next month after purchase).
There are two types of churn:
Turn off withholding for third-party payments
Before doing any substantive analysis, I put forward the first hypothesis: the distribution of churn nodes should conform to the 28 principle.
So I asked the data students b2c email list to do an analysis, and it was found that the closing withholding and surrender on the day of purchase accounted for more than 80% of the lost users.
At the same time, I put forward a second hypothesis: either there is a swipe, or there is a serious cognitive inconsistency before and after the sale.
I communicated with the channel BD, and first ruled out the possibility of brushing.
Then I experienced the product sales process of the channel in the whole process, and found that the sales page is relatively weak for the premium payable in the next month, and the payment success page is very clear and informs the user that the premium payable in the next month.
Then I put forward the third hypothesis: before the loss of users, they thought that the insurance was 1 yuan per month. After purchasing, they saw that the actual premium payable in the next month was much higher than the first month, so they lost it immediately.
Combining the assumptions, we negotiated with the channel to remove the premium payable for the next month on the successful payment page, and made a series of matching strategies.
The experimental results finally showed that M2 churn users decreased by 50%.
03 Compounding effect
There is a basic statement in the theory of [growth hacking], that is, any strategy must have its positive effects and negative effects.
A good strategy should be positive effect > negative effect
What it reveals is the huge gap between the right strategy and the wrong strategy repeated many times.
In the traditional insurance telemarketing, there is a strategy that has been verified and experienced, that is, the telephone return visit the next day after insurance sales, which can strike while the iron is hot to make users feel warm, which is helpful for subsequent retention and repurchase.
So this strategy was applied to the retention of 1 yuan insurance in the first month.
Initially, this strategy did not design an experimental group or a control group. After extracting some recordings of telephone interviews, it was surprising to find that due to impulsive consumption in the delivery mode, many users did not realize what products they were buying. It became the fuse of [question-emotional rupture] .
After redesigning the experiment of the experimental group (with return visit and call) and the control group (without making a call) , after running for two weeks, it can be clearly found that the next month retention of the control group is much higher than that of the experimental group .
At the same time, students from another business department are still happily applying this strategy...