BANKING & FINANCE | ENGAGEMENT
MoneyTap (a Freo brand) Records Industry High Open Rates of 30% and Optimizes Customer Engagement
30%
Average open rate for all campaigns compared to the average industry benchmark of 23%
5.4%
Average stickiness and conversions with total conversions of 31,000
The Problem
For an app-based credit line like MoneyTap, consistency in customer communication is very important. The clutter arose from multiple teams sending out various campaigns with different objectives. This was affecting the open rates and the retention rates.
MoEngage Solution
The teams at MoneyTap (a Freo Brand) started implementing Flows campaigns to resolve the challenge and reach out to customers across multiple channels with consistent messaging. They also leveraged Smart Trigger campaigns which performed substantially well, in fact, 9-10X better than general campaigns.
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