Assignment Task:
Task:
BACKGROUND
The term Fintech (Financial Technology) refers to software and other modern technologies used by businesses that provide automated and improved financial services. Fast and innovative approaches such as Mobile Payments, changed the way we manage our financial activities. Techsavvy customers, especially millennials expect money transfers, lending, loan management and investing to be hassle-free, effortless, secure and scalable, preferably without the assistance of a person or visit to a bank.
Genie Super App was recently re-launched as a comprehensive financial marketplace which has end-to-end financial products and services ranging from contactless payments using QR code through any LankaQR merchant, open and manage savings accounts, invest in mutual funds, pay bills easily with the widest biller network in the country, avail device loans with easy pay, connect to ez cash wallet etc. The company has significant growth aspirations in their first year in terms of user acquisitions (Downloads and Registrations) and app usage.
In your role as the Digital Marketing Consultant of Genie, the management has requested you to prepare a digital marketing and Customer Lifecycle Management (CLM) strategy to understand market opportunities to expand the business.
The management has requested you to prepare a presentation which would include the following tasks;
You are expected to:
Submit a strategy document covering the three tasks comprehensively.
Use the SOSTAC methodology to appropriately present the aforementioned tasks. Prepare a PowerPoint presentation covering the key points discussed under each task.
TASK ONE
The management of Genie Super App needs to understand the micro and macro environment related to fintech industry in Sri Lanka.
Conduct a comprehensive analysis of the digital macro environment of Genie.
Conduct a situational analysis for Genie and identify insights related to its customers and competitors.
Guideline note 01
In this task, consider all relevant aspects of the macro environment by conducting a detailed
PESTEL analysis. In Task One b, candidates are expected to identify customer segments for Genie (considering the features and functionalities of the app) and identify its competition (direct and indirect) and conduct an analysis on the key competitors identified. Refer relevant sources to analyse the competitors Eg: Websites, Google Play Store/ Apple App Store, Social media channels etc. Based on your analysis identify key strengths and weaknesses of the brand.
TASK TWO
You need to complete the following two tasks in order to complete the overall digital marketing strategy for Genie Super App.
Define key goals to be achieved with digital marketing for Genie along the stages of RACE framework.
Formulate a fully-fledged digital strategy to drive acquisitions and increase app usage of Genie super app.
Guideline Note 02:
In this task, the candidate is expected to identify the key digital marketing goals for Genie throughout the stages of RACE framework and formulate a digital strategy defining how those goals will be achieved with the aid of digital channels in all stages of a consumer journey.
TASK THREE
Customer Lifecycle Management is one of the most important aspects for the businesses in the fintech industry. The management of Genie Super App requires you to complete the following tasks for the overall digital strategy.
Define how customer lifecycle management strategy can be managed for Genie to ensure increased usage of services through Genie app.
Define KPIs and a monitoring framework for Genie campaign to measure its effectiveness.
Guideline Note 03:
Customer Lifecycle Management is one of the key strategies for revenue maximization for any business as the acquisition of new customers can be costly. In this task, the candidate is expected to conduct a research using credible sources to explore ways in which customer lifecycle can be managed for Genie through the execution of strategies such as retargeting, customer segmentation and etc. to reduce customer churn, increase Average Revenue Per User (ARPU) and ultimately define the KPIs that needs to be monitored in order to gauge the effectiveness of the digital strategy deployed.
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