Competitive product analysis: accounting and financial management – why can easily remember to come out first

preface

According to the data of Cicada Master, Jijiroao leads with other accounting software, forming a stable competitive situation. In the first quarter of 2016, Conveniently recorded the largest number of active users by an absolute margin, reaching 14.151,700 in the second quarter of 2017. Once launched, it will rely on its professional financial management, by its differentiation characteristics, become the industry leader.

How do you do that? What can we learn from this product?

I. Product Overview

1. Product positioning

Conveniently record provides professional bookkeeping, financial management and other functions, and supports all-round management around personal property. Has over 100 million massive users.

As a financial tool, we provide financial services and investment education, so that users can get corresponding returns. The core value of the product is to provide users with various scenarios of personal property management.

Competitiveness:

• High degree of professionalism. High credibility. The promotion intensity is big, the number of users is large, the safety factor of property storage is improved accordingly.
• Have a variety of financial products. Conveniently note has its own risk control group, independent audit and post-investment management.
• Have rich background resources. Investment security factor is relatively high.
• Users have high activity, and they can easily write on various social platforms, such as post bar, forum, weibo and so on. Users interact on these platforms every day. So as to achieve publicity and pull new role.

2. Product iteration diagram

Take notes from 2012. From basic tools to a full range of expense management platform transformation, easy to remember the deep digging user needs. The initiative of template bookkeeping, citic credit card users automatic bookkeeping, greatly simplified the bookkeeping process. Then also launched the scene ledger, but also covers the user’s life of each subdivision of the scene, to meet the needs of users in different scenarios of accounting, become the industry competing to imitate the original function.

3. Product analysis

Unlike other companies that are still burning cash, they are highly profitable because they already have a monopoly in their field (hundreds of millions of users, tens of millions of monthly jobs). At present, the cost of acquiring customers for Internet financial products is very expensive, while Conveniently remember has over 100 million accurate user flow, which is very beneficial to expand value-added services in the future.

4. Advanced Business knowledge

Conveniently remember has more than 100 million users. Now the growth rate of acquiring new users is relatively moderate, and the operation of social platforms is doing relatively well. Users are more active in it. The product is popular. For manufacturers, the established market share is relatively saturated. In the future, the focus should be on cultivating old users, digging into the value of existing users and occupying users’ time for a long time. Improve the trust of existing users, obtain more information authorization, and then realize the platform strategic path of multi-account and full asset management for users. Providing more wealth management services will lead to higher user engagement.

5. Product function diagram

On the whole, easy to remember the structure is more complex, the bottom of the navigation bar for five entrances, users can change the navigation bar entrance according to their own needs. On the whole, the easy memory function is very comprehensive and professional, but for novice users, complicated operations will affect their operation efficiency.

Two, competitive product analysis

In this paper, the financial accounting industry is more mature and perfect pocket accounting and digging for example. Conduct competitive product analysis. There is some overlap and some differences between the three products in terms of users and functions.

According to the data of Cicada Master, Jijiroao leads with other accounting software, forming a stable competitive situation. With the first quarter of 2016 Q1 has taken an absolute advantage to occupy the first active users, in Q2 2017 reached 14.1517 million people, pocket accounting is a lightweight accounting tool, online time later than 2, but now is the top 3 accounting tools. Once as the largest competitor with the record – wacai, wacai is the earliest domestic platform for personal accounting and finance, and with the record is also one of the earliest involved in the field of accounting and finance, although a little later than wacai, but once released, it will rely on its professional financial management, by its differentiation characteristics, gradually become the industry leader.

Along with the mobile phone and mining operations strategy:

Conveniently remember to carry out activities regularly to promote activity, combine hot event marketing, launch various large-scale prize activities, take advantage of well-known brands to enhance corporate influence, and carry out joint marketing activities with large flow APP enterprises to obtain existing consumer groups of cooperative brands and expand brand influence. According to the data, the successful implementation of each operation activity will greatly increase the number of users and activity of the product.

The key is that each operation activity can be targeted at the target population, combined with events strongly related to bookkeeping and financial management, to enhance the sense of user participation and interaction. And wexai in the operation, the activity strength is small, no targeted, to promote the live did not play a great help.

Iii. Users, scenarios and requirements

For this analysis report, I collected and integrated real comments from users. More than 700 in all. Useless information is filtered and filtered. Select 100 representative comments. And analyze it in detail. These user feedbacks are classified into the following table:

Through the above analysis of the comments and the combination of the main business of the product, after considering the choice of some requirements. The summary will be listed later.

Jot down user profiles

There is little difference in the proportion of male and female users in the casual memory applications. The age distribution is mainly 24-35 years old, and the proportion of middle and high consumers is as high as 84%. Users generally have strong Internet adaptability and consumption power, and the consumption transformation potential is very high. Users are distributed in Beijing, Shanghai, Guangzhou and Shenzhen cities.

With 14,596,600 hours of usage, it ranks first among similar products, so high. On the one hand, it is due to the large scale of users, on the other hand, the high degree of user dependence.

For such a multi-user population. Conveniently remember to continuously launch professional products. Launch loan and wealth management services. Increased user engagement.

Iv. Suggestions for improvement

Based on the above analysis, the following suggestions are put forward, according to the following directions to divide latitude.

—————————— Main task efficiency:

The welcome page is too long. Some users reflect, click a stroke, the speed is very slow.

—————————— Efficiency part of high-frequency operation:

1. Switch to another app while billing and come back. There’s no record of the bookkeeping.

2. The backup procedure is too complicated

3. Plan monthly consumption, the item exceeding the budget, there is a reminder function

4. The back key in the upper left corner of the ios terminal has a small operation hotspot

5. Realize different bookkeeping applications and data translation. Give continuity to the user’s ledger

6. I hope I can bind wechat and Alipay to automatic bookkeeping. Users often use virtual accounts. Offline payments are made via wechat or Alipay

—————————— Error rate:

1. Unbinding of mobile phone number:

When the phone number is unbound, the original number is no longer available. The verification code cannot be received

2. Data loss, according to the user’s message, list the situation they encountered:

1) Data are lost after a long time of use.

2) Remote upgrade, all previous records are erased.

3) Registered cloud backup, and all the bill data recorded disappeared

4) The previous records were synced, and nothing was lost when I changed my phone.

—————————— Stability:

1. Switch to another app when billing, and come back. There’s no record of the bookkeeping

—————————— Operating speed:

1. The account logout is running too slowly

2. Logging in to your account is also slow

3. The welcome page takes too long

4. Some users reflect that the speed is very slow when they click to write down a stroke

—————————— triggers more links

1. There is an activity to send money, but users dare not tie the card. Pop-ups that give new users monetary benefits are a good way to do it. However, in the process of interaction, you can not bind the bank card after clicking to collect, because this way will trigger the user’s feelings of doubt.

Analysis of main process of bookkeeping:

Bookkeeping Details Page – Category:

• In classification, there are too many categories in the drop-down menu. In a narrow space, it is difficult to select the required category. Users need to drag around in a small space to see through the categories.
• After clicking the search button, the filtering efficiency does not improve, although there is a quick alphabetical list search, but for the novice, it is not known what the name of the product definition of the behavior is.
• Search in the search box. Fuzzy search is not supported, for example, when users enter cosmetics. And the name of the product definition is beauty makeup skin care. But if you type in a makeup word, a related word will appear. But you can’t find it by typing two words

• Remarks Voice input is available to improve accounting efficiency.

Analysis of community Process

Posting path:

The Posting path is more covert. Many of the entries that need to be posted are not.

Posting path: financial management – discovery – net loan investment – Posting

• Earn points list, click to share community post after. Should be the post entry.

Conversion rates will be higher.

• Like community essence here should put the post button, in order to inspire users to edit power
• Posts are not sorted in chronological order.
• A lot of information is out of the user’s control. Posts can not be screened, should be added to the screening conditions, such as: sorting by update, heat sorting, type screening
• Articles can be edited on selected articles, what is the condition, the user does not know.

Financial path:

• Advantages: The financial life community and financial information module have been established with easy memory. The content is life-oriented and provides various real life cases, which is really easy to increase the sense of involvement and trust of users.
• Disadvantages: The content of easy notes is more life-oriented, and the professional basic financial knowledge is scattered and difficult to find, there is no separate module.

Interactive analysis:

• When users use financial management, the middle process will be a little confused, at this time need targeted help. The app has a help channel. But without a search function, users can’t quickly find a solution.
• One of the more worrying aspects of user feedback is this. During system maintenance. No prompt is displayed. The user is in the stranded state. This makes users anxious. There should be a warm reminder in a conspicuous place to avoid causing panic among the masses.
• Conveniently note in Baidu stick bar, micro-blog and so on the place, the operation is quite good. User heat is high, novice users may not know there is such an entrance. You can guide entry points in the app. Mobilize the available resources.

• In this entry, the holo bar can be switched between billing types. Select a template that has a default template that is used more frequently. Also according to the user’s preference, can edit the repeated template, save the accounting time. Very nice thing is that the default template type will be changed according to different ledger types. Greatly improve the user utilization rate.

It is recommended to add the accounting summary function

• Can add a ledger summary function, you can copy data from other ledger into the general ledger, perfect to solve the needs of one ledger to manage personal finance. Encounter travel, decoration, marriage and other scenes, a new scene ledger bookkeeping. After the end of things directly copy the scene ledger data to the general ledger, that is, to enjoy the scene ledger more intimate income and expenditure classification, but also a ledger management financial. This feature can be placed in the ledger customization Settings.

Suggest adding features

• Share their books
• This feature is a feature of the product, but the entry is hidden deeply, you have to click on the picture in more tabs to share the account book, you can extract this function and put it in my account Settings. Users can share the ledger more directly.

Main interface visual analysis

• The bottom TAB bar of the home page. The meaning of the two ICONS is unclear. One is the return button. Its own function is my ledger management. Another icon is more button, the page content is account management. Two ICONS, text meaning is unclear, affecting user understanding.
• On the bottom TAB, there are more ICONS, which are used to manage accounts and so on. It would be appropriate to replace the copy in the navigation bar with mine.

V. Summary:

Write down several sections, each module is doing its own content, not well integrated together, with a clear logic. At the same time, the UI visual style is not uniform. The reason is probably that the number of users is increasing and the main path of the product is blurred by seeking customer diversion channels. As the team is getting bigger and bigger, we should unify and integrate all contents of the product. Rather than each module acting as a separate function. It’s easier for old users to keep accounts, but it’s still a bit of a cognitive load for new users.

In terms of product strategy, I keep in mind to constantly collect user feedback for optimization, and regularly carry out activity operation, combine hot event marketing, launch various large-scale prize-winning activities, take advantage of well-known brands to enhance enterprise influence, and carry out joint marketing activities with large flow APP enterprises, etc.

In terms of user structure, it is easy to remember that although some modules have redundant content and chaotic structure, the product is comprehensive and professional.

In terms of the product’s user needs, conveniently notes can focus on the needs of bookkeeping, and constantly improve the core functions, deepen its service and experience; In the user core process, easy to remember the scene entrance is extremely rich, multi-faceted guide users, using the path is short, user accounting efficiency is high;