Speedi Witnesses a 6X Increase in Retention Rate Using Segmentation and Personalization
Discover how Saudi Arabia's leading E-commerce brand, Speedi uses RFM segmentation and personalization to enhance its retention rate by 6X.
Speedi is a leading E-commerce brand 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.
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.
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.
Using the RFM feature of MoEngage, Speedi was able to create different customer segments and based on their behavior, tailor their communication strategy. The E-commerce brand also used personalization to reduce cart abandonment.
Speedi Uses RFM Segmentation to Increase Conversion Rates
Upon running custom segmentation using RFM, the brand was able to witness a higher conversion rate and click-through rates.
One campaign the brand ran using RFM segmentation was around the ‘LOST USERS’. To reactivate these customers, Speedi.sa used push notifications to give a discount of 10%.
As a result of this, the brand was able to garner close to 2K+ impressions and a CTR of 0.40%.
Personalized Messages to Reduce Cart Abandonment
One campaign that Speedi 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”
As a result of this, between June 5th, 2022, and June 27th, 2022, the E-commerce brand was able to garner a CTR of 19.8% and a CVR of 32.73%.
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
Drive Better Engagement using MoEngage
Download Speedi's detailed success story below 👇