Identify various user archetypes of a cash management platform
Objective
- A large fintech start up (cash management app) wanted to identify various customer segments, understand business processes, payment preferences and needs of each customer segments
Methodology
- Conducted in-depth conversations (N = 184) with enterprise owners of various MSME segments to understand business processes in 15 cities (metros, tier 1, 2, and below)
- Conducted a MSME owner survey (N = 1,000) to understand the current pain points / challenges faced by them while using cash management app
- Assessed business processes, business types, turnover of various merchants and deduced it to various user archetypes, using cash management platform for their daily ledger cum lending operations
- Mapped daily business journey of each user archetype and identified their usage of various digital payments and other fintech platforms
- Identified various opportunities for expansion (B2B payments, commerce, others) amongst MSMEs by various customer segments, prioritize opportunities
Impact / Outcome
- Identified 7 user archetypes, using client app and created a shortlist of pain points while using the cash management app
- Client launched different product offering / features catering the need of the current users and rolled the new offering to improve user experience