Here is my take on the problem statements which were of particular interest to me. For ease of scanning, these have been structured as follows:
Metrics
Approach
Recommendations
Artefacts
Improving user experience and retention metrics for Slice, an Indian app-based credit card platform
Metrics
Increase in Daily Transactions through Slice App
Increase in the number of new merchants who received the payment through Slice
Improvement in customer feedback(by analyzing sentiment and ratings on playstore)
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Approach
I interviewed college students currently using Slice in order to understand the behaviour of Slice’s TG. I analysed ratings and feedback on play store to gauge user sentiment.
In case of Slice, onboarding experience can get overwhelming for users, especially first-time users, who may feel that they have been forcefully sent Slice cards as it automatically gets dispatched as soon as the user registers on the platform. The user has no choice in this matter.
Users demand an increased number of offline touchpoints to use Slice card as they can only swipe it for offline payments at merchant stores. Small and medium merchants in India do not own card machines limiting usage in an offline scenario. Where as the competitors like FlexPay and Unicard are offering scan and pay later services.
Recommendations
Increasing the number of touchpoints for offline payments
Introducing scan & pay using credit line which will help users in paying merchants who do not facilitate card payments
Users have an option of getting emergency cash for Slice app in their bank account, but to spend that cash they use third party UPI apps. Therefore, UPI payments should be introduced to decrease multihoming to other apps
Recommendations
Improving user experience on the platform
Giving the user an option to change profiles from Student to Salaried or Freelancers.
Giving the user an option to opt-in or opt-out for the Slice card.
Categorization in the Top Offers section.
Bridging opportunity gaps
Launching an Ecommerce store which will allow the users to buy items directly from the app thereby increasing retention and revenue
Introducing a feature to manage & settle shared expenses within friends
Improving shopping experience for customers and decreasing high RTO orders for Meesho
Metrics
Decrease in monthly return to origin orders per seller placed on Meesho Platform
Increase in repurchase rate for buyers and resellers per seller per month
Improvement in buyers and sellers trust on Meesho
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Approach
Meesho is a three-sided platform for buyers, sellers and resellers. To understand the experience for all the three stakeholders, I conducted primary research to understand their respective pain points with the platform. Currently, Meesho is struggling with increased RTO (Return to origin) orders which is a common pain point shared by all stakeholders. For customers, this acts as a force to decrease their trust in the platform, and for sellers, it is reducing their profits as they have to pay the logistics for every RTO order. This is diminishing the seller motivation to be on the platform. The product description page in the app does not show enough information about the product one wants to buy, and thus, the expectations are not matched when the product is delivered. I have also added a few solutions based on buyer pain points like being unable to buy products from multiple sellers at once and more.
Recommendations
Improved Product feedback
The product feedback feature will allow the user to give additional information about various aspects of the product and review the product
Encouraging users to pay online and not through COD
Users are less likely to return the order if they have already paid for it.
Cost unbundling: Giving discounts to the users for making an online transaction.
Showing users benefits of making online transactions.
How Myntra is bridging the divide between offline and online shopping amidst strong competition from e-commerce fashion apps.
Myntra introduced a “Style exchange” feature where customers can exchange products against any other product they like. Earlier, customers could only exchange a product for a different size or colour but they had to wait for a refund to repurchase another item. Myntra has graciously solved this pain point enabling the feature in 80% pin codes as of now.
Myntra has added the 360-degree view of the product not just on the product description page, but also on the gridwall when the user stops at any product. This reduced the clicks user has to make to see the details of the product.
By adding radio buttons on cart level items, Myntra has reduced the hassle users have to do in order to shift between cart and wishlist. Now users can select few items kept in the cart and proceed with them while rest of the items will still be available in the cart.
How Big Basket is standing out in the red ocean created by grocery delivery apps like Grofers, Swiggy, JioMart and more
Big Basket has leveraged AI & Deep Learning capabilities to develop an unmanned smart vending machine ‘BB Instant’ which they have placed in apartments and corporates.
With this product, they can now cater to a larger customer base and come in direct competition with Kirana stores. (solving the pain point of customers wanting instant products like ice cream, beverages, fruits etc.)
With the product being placed in corporates/apartments, the risk of unmanned vending machines is reduced to a high degree also BB Instant ensures 24*7 availability of products through Big Basket.
How Bharatpe became a hit even after being a late entrant to the fintech landscape
Bharatpe empowers shop owners to accept payments from any payment app for FREE. It makes receiving payments seamless for merchants by aggregating all payment app into one QR code.
Created a single interoperable QR that works with all the competitors QRs such as PayTm, PhonePe, GPay etc.
Aggressive onboarding of offline merchants to create an ecosystem and build trust among the merchants.
With merchants trust and zero fees, they built a simple/ decluttered app and expanded it into FinServ.
When all competitors were focusing on a customer-first approach, they looked at the other side of the coin and developed “Merchant First” solutions.
How Cred solved a real user pain point and increased engagement and adoption of their app at the same time
Cred is an Indian startup with the core use case of simplifying credit card payments
Cred created an exclusive environment with a ‘members only’ app. This intrigued the users and added a premium feel to the app.
Their reinforcement mechanics involved a solid referral system which they gamified with coins and gems. Cred app offered interesting rewards in return for coins and gems which attracted users to use the app frequently.
The UI/UX of the platform is extremely decluttered and seamless which further adds to the luxurious feel attracts its target customers.
