Speedi Witnesses a 6X Increase in Retention Rate Using Segmentation and Personalization
Speedi is a leading E-commerce application established to give the customer the easiest shopping experience by offering a wide variety of products with the best offers.
Based in Riyadh, Saudi Arabia, Speedi ’s goal is to improve the quality of shopping by using the latest technology and provide its customers with groceries and favorite products at the best prices and deliver them straight to their doorstep at a preferred time slot. In terms of reach, Speedi is currently present in Riyadh with plans to expand its operations to 7 different regions within Saudi Arabia.
Considering the competitive space Speedi is in, the brand wanted to form a habit loop and improve retention. But, there were certain challenges that the brand faced in terms of offline and online data integration and enhancing its basket size. Additionally, Speedi also wanted to increase its retention rate, decrease cart abandonment rate and personalize campaigns.
One of our biggest challenges was the integration of offline and online data. We understand that to have a truly effective omnichannel experience, we need to stitch the offline and online data and build a holistic customer view. This is where MoEngage’s insights-led customer engagement platform has helped us. Using MoEngage’s platform, we have been able to integrate our PoS data with our CRM. As a result, understanding customer behavior in terms of purchases or browsing has been more effective.
The E-commerce brand utilized the segmentation feature of MoEngage to understand customer behavior and send them messages via push notifications and in-app. Upon running custom segmentation using RFM, the brand was able to witness a higher conversion rate and click-through rates. One of the campaign example that the brand ran using RFM segmentation was for “LOST USERS”. To reactivate these customers, Speedi used their push channel to communicate curated offerings (discount of 10%) and nudge customers to complete action.
The brand noticed that many customers were dropping off at the last moment. To overcome this complication, the brand used personalized in-app messages to nudge customers to complete the purchase action. One such campaign that Speedi.sa ran was providing a 50% discount to customers who had dropped off before completing their purchase. The action to prompt this in-app message was “Has Executed Add To Cart At least Once”. Ultimately Speedi reduced its cart abandonment and increased its basket size per order.
Using MoEngage, Speedi was able to:
- Increase its active users by 3X
- Increase conversion rate by 28%
- Using personalization and segmentation, the brand was able to increase the retention rate by 6X
