Product Case Study: Fampay

I recently applied for a growth intern at Fampay and got an interesting problem statement to solve. It is related to Fampay(A neo bank for teenagers).

FamPay recently launched a club section inside the app where we host different activities to drive engagement for the teenage community of users. Design 5 ideas to engage the community on the FamPay app

Overview of club section.

Target Audience👩🏻‍🤝‍🧑🏼.

• Age: 13 to 17 years old Teens.
• Current situation:
• School students

So, where to start?

As you can see many of the great ideas are already included club section

To design more ideas, I started researching about the company and conducted around 18–20 interviews with some of my younger brother’s friends.

Some of the basic questions asked were❓

• Do you know about Fampay?
• What skill do you want to learn?
• What’s your area of interest?
• Do you like reading? If yes, how frequently?
• Do you do something for personal growth?
• Would you love posting hobby videos on an app?
• Do you know anything about investing?

Basically, these questions are framed according to know how much teens of India are interested in their overall development, and framed according to what are things I wish I should have known in my teens!

After listening to their answers I got to know one thing that Gen-Z is much aware and smarter!😅

Conclusions✅

• Most of them were into reading books and articles.
• They are very much interested in investing but finds it complex.
• Around 12/20 of them want to learn a new language be it French, German, or any other!
• There is no such site/app for them which is specially curated for teens which will provide content of their area of interests( like Current Affairs, Business, History, Science and Tech., Psychology, General Knowledge, Cultural Lifestyle), The apps which are already in the market either have a shortage of content or the content present on them is too difficult to understand.

Now the Research is done, it’s time to design the ideas!

The most important thing- Always being thoughtful around the fact that these ideas are for a company for the youngest internet users out there aka Gen-Z

The Proposed Ideas

1. Book Shelf(Books Section) 📕

We all love books and I always thought in my teenage, from where I got to read books for free. Be it from older Bhaiya or any cousin or pdf from the internet, Most of the times, even the books from the internet are paid and books from cousins and friends are not in the condition to read and many times I had to buy it at last.

So to solve this we can make a bookshelf here, where one can unlock most of the popular books of different categories by burning coins, but this unlock will be for a certain period. This will cause a push to complete the book as soon as possible and improve reading skills. Once you have read the book, one can give a small quiz if he/she passed the quiz, can retrieve the coins back. This will encourage users to read consciously.

We can also give the users something like a readers tag(Level 1 Reader, Level 2 Reader or stars like coders have in code chef)

2. Digi Dumbledore😲

We can use in-app Inbound Marketing, Users can select some tags from different categories (Like Current Affairs, Business, History, Science and Tech., Psychology, General Knowledge, Cultural Lifestyle).

Now taking users interest we can do two things

1. We can show a series of curated infographics that explains insights about any topic which lies in their category of interests.

2. We can show small fun facts, tips, small but important news, or just a simple question or riddle to gain some coins.

Benefits

1. It helps in understanding complex concepts with the help of graphics and text.
2. Will cover a variety of topics.
3. Help users to stay updated with the latest advancement in the field of their interests
4. No distractions like we have in Insta, or YT
5. Will lead them towards a better future.

In my opinion, these two methods can give a better Engagement rate

-For a Better Idea of what I am up to →Refer to the Yoda App

3. Bahu Bhasi🤩

This is the section for teens who want to learn many languages, isn’t that cool to know many languages. So we can add a section where teens can learn different languages with help of short lessons that helps users practice speaking, reading, listening, and writing to improve their vocabulary.

If one completes the final assignment, the Fampay can provide a legit certificate to him/her.

This will also encourage them and they will surely show the certificate to their friends and this will lead to more word of mouth.

-For a Better Idea of what I am up to →Refer to the Duolingo app

3. Pocket Shifu🤠

This could be the wow moment of the app.

This section is for the personal growth of teens because that’s the most important thing for a successful and happy future.

In this section, users can select tags from the categories like Health, Problem Solving, Communication Skills, Leadership, Money, teamwork, Self Improvement, love, and relationships, etc.

We can provide users curated key Ideas from the articles and books in a very simplified and short manner which will save them time, this will also help those who don’t like to read many books. Even Users can also post their key ideas for which they will get coins, recognition and most importantly this will make them a better person.

-For a better idea of what I am up to →Refer to DeepStash App

4. Frame it 😎

Users can post their hobbies videos like dancing, singing, and performing arts or any other artwork or hobby video and we can show those videos and artwork in this section although this will make the app much bigger and can make the backend of the app more complex that’s another issue to solve.

This will surely help teens to be creative and keep doing the things they love because we all have that one hobby that most of us stop doing just because of academic loads and honestly speaking I think it’s because of no encouragement.

4. FamGroup👨‍👦‍👦

In this feature users can connect and form a sort of group with their friends, every group will have a suitcase/wallet in which every member of the group will contribute an equal amount of money/coins and this will remain untouched and can be used in 2 ways

1. When they are going out for a party together they can use the famgroup money so No worries about going dutch!

2. One more use is also there which is more interesting- If a user is in urgent need of money/coins, he/she can ask for money from the famgroup if majority accepts the request he/she can borrow the requested money from Famgroup’s Wallet. Fampay will give some amount of money/coins to remaining every group members for the goodwill, and every time the borrower earns any coins some amount of coins will be deducted and will be added to the account of famgroup members till the original amount is not recovered.

This will help teens to learn more about the idea of loans in a much more practical way and users will also ask and invite their friends to join the Fampay.

6. Hassle-Free🤯

We can connect to Fam payments to Spenny app or can run our own in-app feature like this, which is if the users want, on every payment this feature rounds up the amount to the nearest Rs.10s and invests it into diversified portfolio automatically, this will help the users to get the better idea of investing and this lead to very early investments that will cause huge compound effects in the future.

This will also make Fampay the wholesome app where users can save, spend and invest!

Although it included some more tasks also like, hunt for macro-influencers and 2 Min Sales Pitch, But these are some of my proposed ideas through which I got selected, would love if we can brainstorm some more and will be more than happy if you can give some feedback📃

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