How Freo Reports Industry Best Open Rate by Analyzing Best Time to Send Communication

In this video, Ashwin Pavery, Marketing Lead at Freo mentions how MoEngage has helped them understand the best time to send messages, thereby improving open rates to industry-best levels.

About Freo

Freo is a neo-bank for millennial Indians that offers saving accounts, credit lines, credit cards, mobile apps, and financial utilities.

Identifying the Challenge

Drop-offs during the customer journey seem to be one of the most common challenges that Fintech brands face. With the complex set of steps that customers need to complete like KYC registrations, etc, customer retention is also a major problem that Freo was facing along with customer drop-offs.

The Solution: Journeys and Flows

Using the Best Time to Send (BTS) feature, Freo was able to reach out to its most active customers on the app via Emails, Push Notifications, and SMS’.

The Results

By setting up specific Flows and Journey campaigns by MoEngage, Freo was able to touch over 24% conversion rates!

Further Reading

• Dive Further into How Freo Drives Higher Conversions Using MoEngage Flows
• Learn how Ujjivan Small Finance Bank Drives Digital Adoption Among Unserved Customer Segments Uplifting Conversions From 2% to 18% 
• MoneyTap (a Freo brand) Records Industry High Open Rates of 30% and Optimizes Customer Engagement