BANKING & FINANCE | CONVERSION
Samco Securities Ltd. Uplifts Revenue by 10% Via Contextual Engagement
4
Martech Systems Replaced with MoEngage
10%
Uplift in Overall Revenue
10X
Jump in Overall Conversions
About Samco Securities
Samco Securities is a technology-led discount stock broker registered with India’s leading stock and commodity exchanges, such as BSE, NSE, MCX, MCX-SX, and NCDEX. The brand has built a simplified trading and investment platform that enables stock market participants to analyze their actual stock market performance easily.
Business Objectives
The short-term goals of the brand were to unify customer data under one roof to analyze and engage customers in real time. Doing so would also ensure that the Samco team could create seamless omnichannel customer experiences.
The long-term business goals were to efficiently handle engagement at scale, improve conversions, and maximize ROI through actionable insights.
Our business objective was apparent - how do we get our target audience to come to us and stay for a long time? To facilitate this, we wanted a one-stop, integrated platform that could take care of everything from customer acquisition to engagement and long-term retention.
Ajay Dusane
Chief Growth Officer at Samco Securities Ltd.
In the BFSI category, this is by far the fastest integration we’ve seen with a MarTech platform. We onboarded the platform within seven days of signing the contract and went live with our first use case in the next 13 days. In today’s competitive landscape, this kind of agility is paramount for success, and having such an engagement partner by your side makes it all the more efficient.
Nilesh Sharma
ED and President at Samco Securities Ltd.
MoEngage Solution
The lack of real-time customer profile analysis, precise segmentation capabilities, and much more was holding the brand back. Enter, MoEngage.
While the Samco team evaluated many platforms, they finalized MoEngage due to its superior suite of features and functionalities, like A/B testing capabilities, AI/ML capabilities, and Intelligent Path Optimizer, to name a few. A noteworthy aspect of the MoEngage platform was the ease of use. The campaign go-live time has reduced to 1/10th of what it used to be before, with the help of the drag-and-drop editors MoEngage provides.
Before using MoEngage, the customer journey orchestration was completely tech-dependent and usually took anywhere between 1 week to 1 month. With MoEngage, Samco Securities is able to design and finalize journeys in under an hour and taking them live within 2-3 days.
Replacing bloated martech stack with integrated platform led to a 100% uplift in revenue
Early on, the brand observed a missing link between the value it provided to its end customers and the supplementary communications and customer engagement. The lack of real-time customer profile analysis, precise segmentation capabilities, and much more, held the brand back.
After onboarding the platform, MoEngage replaced over four systems that Samco Securities had to facilitate customer engagement. These systems included the brand’s email provider, i.e., in-house campaign management system, push notification provider, SMS channel provider, and WhatsApp channel provider.
Using MoEngage, the entire customer engagement efforts have improved remarkably. The impact of this resonant across the revenue rates too, where the brand has seen a 10% uplift, along with a 20% increase in active user base (on the app).
Products Used
Customer Insights & Analytics
Create omnichannel, personalized experiences using AI-powered insights and analytics.
Customer Journey Orchestration
Create unique, seamless experiences at every stage of your customer’s journey.
Segmentation
Personalize experiences by creating nuanced segments based on behavior and action
The Result
Using MoEngage, Samco Securities Ltd. was able to:
- Replace over 4 martech systems (i.e., channel providers and internal engagement setup) with MoEngage
- Uplift overall revenue by over 10%
- Increase the overall conversions by 10X
Read More Case Studies From Banking & Finance
