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A Mexican bank currently offers discounts on life, car, motorcycle, and home insurance through a variety of channels, including assisted sales, phone calls, and promotional codes generated on-site. These promotions are also integrated into credit card processes and the Benefits program, where users can access discounts based on their credit score.
However, despite these efforts, there is an opportunity to streamline and expand the discount model, leveraging the bank's app to enhance digital sales and reach a broader audience.
Currently, there is no streamlined incentive model for customers and executives to effectively drive digital sales
Tracking and identification of guided sales on-site are complicated, opening opportunities for inefficiencies and misuse
The current incentive scheme operates independently of the executives, limiting their influence on sales outcomes
Develop a global model to offer special promotions within financial product contracting flows through coupons, incentivizing digital sales and achieving annual objectives.
-18K semi-annual personal loans
-14K monthly time deposits
-Mobile app
-Branch network
Bank customers and personal segment with access to the bank app
.
-Identify and generate specific incentive schemes for each product
-Create an intuitive system for both customers and executives to detect and promote end-to-end (E2E) an assisted sales on-site
-Back-end development
-Front-end development
Generate a global model to provide a special offer within the contracting flows of financial products through coupons, in order to incentivize digital sales and achieve the annual objectives.
-The model should be manageable by both business and finance teams.
-The model can be managed by the different sales squads.
-Provide coupon traceability to avoid data contamination.
-Generate a proper reporting: origin, management, use.
-Coupon use should be exclusive for each client (ideal scenario).
-The use of the coupon should be scalable to different products (multi-product).
-Parameterization should incorporate the product and sales models already existing or in progress.
-Coupon configuration should be flexible and modifiable according to business needs
Redesign the global couponing model within the app and create necessary versions to apply special offers in contracting flows, contributing to digital sales KPIs.
-The model should be scalable to various products and clearly communicate the benefits and conditions of each special offer.
-User knows the status of the coupon at all times.
-The model should accommodate multiple access points.
-Consider assisted sales or E2E scenarios.
-Incorporate insights from previous campaigns and product launches.
-Document all customer touchpoints, as well as interactions with the bank's internal stakeholders.
Different coupon models can coexist within the same
experience. The main types include:
-Custom offers
-Mass Offers (generic)
-Partnerships
-Referrals
Coupons can be received via push notification, email, or both. Referrals can share the coupon through preferred messaging apps or social media, and there’s also an option to access the coupon directly within the app
Users can interact with coupons by typing a code, following a link, or activating the offer directly. In some cases, coupons are already redeemed by default within the app. Terms and conditions may display directly on the coupon or link to another page. Once redeemed, users typically see the final price reflecting the discount
Coupons can appear as descriptive elements within the offer or alongside the client's name. In some cases, they lack a description, making them difficult to identify. Coupon lengths vary from 6 to 12 characters, often following a pattern where the first characters are letters and the remainder are numbers. Sometimes there’s a logical sequence, but other times characters are randomly assigned
Basic validation checks include whether the coupon is valid or not. Secondary checks cover details such as accurate format, expiration date, and specific requirements. However, these requirements often don’t clarify the exact issue when a coupon fails to redeem
Redemption usually occurs during checkout. Finding specific or available coupons could involve a dedicated section where they’re stored for easy access
Most apps require a subscription from the start, often without offering partial access.
Physical products, by contrast, generally involve a one-time payment since the customer owns them upon purchase.
Only one example was found of a product offering both subscription and one-time payment options
