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Product Management Improvement Question: Enhancing user engagement for a savings goals tool in fintech
Image of author vinay

Vinay

Updated Dec 5, 2024

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What features could make Jenius' savings goals tool more engaging for users?

Product Improvement Medium Member-only
Feature Prioritization User Segmentation Engagement Strategy FinTech Personal Finance Banking
User Engagement Product Improvement FinTech Gamification Behavioral Economics

Introduction

To make Jenius' savings goals tool more engaging for users, we need to analyze the current user experience, identify pain points, and develop innovative solutions that align with user needs and business objectives. I'll approach this challenge systematically, focusing on user segmentation, pain point analysis, solution generation, and evaluation.

Step 1

Clarifying Questions (5 mins)

  • Looking at the product context, I'm thinking Jenius might be targeting a broad range of users with varying financial literacy levels. Could you help me understand the primary user demographics and their typical financial goals?

Why it matters: Determines the complexity and focus of our engagement features Expected answer: Primarily millennials and young professionals, saving for short to medium-term goals Impact on approach: Would tailor features to match the financial literacy and preferences of this demographic

  • Considering user behavior, I'm curious about the current engagement patterns. What's the average frequency of user interactions with the savings goals tool, and how long do users typically stick to their goals?

Why it matters: Helps identify engagement drop-off points and potential areas for improvement Expected answer: Users interact weekly, but often abandon goals after 2-3 months Impact on approach: Would focus on features that encourage long-term engagement and goal persistence

  • Regarding product lifecycle, I'm wondering where the savings goals tool stands in terms of maturity and user adoption. Could you share some insights on the tool's current market penetration and growth rate?

Why it matters: Influences whether we should focus on acquisition or retention strategies Expected answer: Tool has been live for 18 months with steady growth, but retention could be improved Impact on approach: Would prioritize features that enhance user stickiness and long-term value

  • Considering company alignment, I'm interested in understanding how this tool fits into Jenius' broader strategy. What are the key business metrics you're looking to improve through enhanced engagement with the savings goals tool?

Why it matters: Ensures our solutions align with overall business objectives Expected answer: Aiming to increase average user lifetime value and cross-sell opportunities Impact on approach: Would explore features that encourage users to engage with other Jenius products

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