BANKING & FINANCE | RETENTION
How Empiricus Increased Customer Retention by 135% with Automated and Personalised Journeys
135%
increase in new customer retention
1
New Product Launched
About Empiricus
Empiricus is Brazil’s largest financial publisher, with +450K subscribers and +1M monthly readers. They provide investment advice to their clients and offer finance content via subscription, and publish new suggestions or updated investment reports weekly.
New user retention is the first true litmus test for any SaaS company. MoEngage’s full suite of customer engagement tools helped us exceed industry benchmarks for new customer retention. It enabled us to keep track of our new users by designing engagement flows that were laser-focused on our main goals of increasing engagement and retention.
Vinicius Bazan
Head of Product - Empiricus
Business Need
Improve free new app customers’ engagement and retention
Empiricus provides free content to help new customers decide whether to subscribe to their investment reports. These materials include free beginner courses, financial market analysis, news, and tools such as a real-time stock market index. However, new customers found it challenging to extract value from this journey, leading to app uninstallation. The growth team at Empiricus knew they needed to devise a strategy to address this issue and increase their chances of converting these free customers and keeping them engaged with the app for extended periods.
MoEngage Solution
Intuitive customer engagement platform for real-time cross-channel communication
Empiricus launched a campaign called ‘The 7-Day Challenge’. A new onboarding strategy to encourage new customers to discover in-app features through gamification. Customers who completed the five-mission challenge in 7 days or less received free access to Empiricus' monthly Essential Investment report series. Among the missions were registration in the app, reading free reports, watching one of the courses, and accessing the stock index section.
Empiricus enabled MoEngage's smart journey orchestration called Flows to ensure the success of this new initiative. This provided visibility into each customer's performance and automatically delivered cross-channel communications (push and in-app notifications) on daily missions. The team also personalised messages to encourage engagement and gave prizes to those who completed the mission.
Implementing a new onboarding strategy using MoEngage's Flows gave Empiricus a new product idea, which was launched as a result of this initiative.
Products Used
Customer Journey Orchestration
Create unique, seamless experiences at every stage of your customer’s journey.
In-app Messaging
Elevate mobile experience with contextually relevant in-app messaging
Push Amplification +
Deliver push notifications to more customers with proprietary Push Amplification™ Plus technology
The Result
- 135% Increase in new customer retention
- 1 New product launched
Empiricus enabled MoEngage’s smart journey orchestration called Flows to ensure the success of this new initiative. This provided visibility into each customer’s performance and automatically delivered cross-channel communications (push and in-app notifications) on daily missions.
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