- Banking & Finance
CoinDCX Grow Weekly Active Users to 80% using User Path Analysis
Discover how CoinDCX used MoEngage Analytics & Segmentation to increase CTRs by 16%, leading to a 10% increase in KYC verification, 95% increase in bank verification, and 80% increase in WAUs.
CoinDCX is India’s biggest cryptocurrency exchange brand offering crypto-based financial services. The brand is the first in the crypto exchange segment to be ISO certified. Their bitcoin and cryptocurrency investment app CoinDCX GO has over 600K+ customers.
“MoEngage provides an easy way-out to create complex user-segments with so much ease for different campaigns which largely helps in driving high conversion rates and moving other important BAU numbers.”
The brand's current engagement approach lacked relevancy and personalization at a user-level. Due to which the brand was observing drop-offs during onboarding and later during reactivation stage.
CoinDCX’s marketing team was looking for a new engagement tool after observing no optimum outcome from its current platform. They employed MoEngage to analyze and understand customer behavior while engaging them on various channels.
To build an omnichannel engagement strategy, the CoinDCX team decided to use MoEngage to analyze and understand customer behavior. They analyzed their whole onboarding process and identified the highest touchpoints of all inactive and dropped-off customers.
• 80% increase in WAUs
• 10% boost in KYC verification rate
• 95% improvement in bank verification rate
• 18x improvement in TAT from 36 hrs to 2 hrs
The next step in the brand’s engagement strategy was to reactivate dormant customers and nudge them to continue their activities. To understand dormant customers’ behavior, they utilized a combination of MoEngage’s Analytics, consisting of Behaviour Trends, User Path Analysis, and Retention Cohorts.
The team also ran push notifications and email campaigns using MoEngage for active customers. The aim was to understand the customer pulse regarding their experience and various product features. These also helped identify the customer pulse on upcoming product features and new security updates.
How CoinDCX Optimized Weekly Active Users
Learn how the brand leveraged user path analysis to grow active users