Beyond Batch and Blast: Maximize Revenue and Retention Through User Behavior and Segmentation
Personalization has long been a hot topic in the app world, especially given its significant impact on customer retention and revenue.
In our latest fireside chat, Said Aliansyah Ramadika Idroes, the Brand Executive at OVO, a financial tech company that consolidates financial products such as investments, insurance, and payments into a single app, gives us a glimpse into how OVO develops personalized experiences for users and how this has impacted business.
While ‘batch and blast’ methods of messaging can help apps bring in more brand awareness, this typically doesn’t lead to increased revenue. To create personalized campaigns and content, OVO uses behavioral patterns, A/B testing, data, and technology to drive retention and revenue to yield gains of over 10%.
Behavior-based personalized experiences
For OVO, it’s of the utmost importance to engage their customers throughout their lifecycle journey and provide the greatest value.
By personalizing three critical aspects of the user experience, targeted messaging, rewards, and segmentation, OVO has seen 10-15% increases in conversion and revenue.
With no two users alike, and each customer requiring different things from their product, OVO relies on a more advanced form of personalization that goes beyond segmentation by static elements and, instead, uses the customer’s behavioral interaction within the app.
By personalizing the user experience to their level of interaction with your app, you avoid a few common pitfalls. Your customers won’t get an inbox cluttered with too many irrelevant notifications, and idle and active users never get the same content.
Leveraging your data and tech stack
To achieve this level of customization, having the right tools, technology, and integrations is integral to ensuring you push messages to the right user segment. So, your customers only see the most helpful content at the right time.
The first step to curating the best content for your users is to understand them and their needs thoroughly. The ability to combine front and back-end data gives you just that kind of deep insight.
Mobile marketing platforms can produce events parameters and other front-end data. Combining this with back-end data, including user behavior, preferences, and transaction history, helps identify the most loyal users and which aspects your app users enjoy the most.
You want to get data into your platform to process and send back in real-time. However, this is easier said than done. Because you’re getting data from multiple sources, the challenge lies in finding a way to remove the data silos and align the different systems so that they can speak to one another.
The solution: developing vertical integrations that are scalable. This includes running variable A/B tests and different campaign customizations, such as app inbox images and banners. This way, you can pair the users with the right rewards and products and send communication just when they need it — and before they churn.
Future-proof your app’s success with personalized experiences
Building awareness is easy, but retaining users is key to long-term success.
To maximize customer retention, app businesses must prioritize personalization and segmentation.
Streamline your data engines, consolidate and remove any data silos, and integrate your systems so that you can personalize messaging and segmentation throughout the different user journeys, differentiating your power users from those who may need more nudges.
The ability to send the right messages at the right time through personalized content boosts campaign engagement and conversion rates, retention, and, ultimately, revenue to help your business scale and grow well into the future.
Excited to learn more? We’ve got you covered.
- Get more insights into how OVO uses their tech stack, including Leanplum, for personalizing the app experience in the complete fireside chat recording.
- Learn more about the personalization journey and ways to apply it to your app with The Impact of Personalization Within App Experiences.
- Explore data-based insights into personalized messaging using our Subscription App Data Science Report.
- Get an inside peek at how you can leverage the Leanplum platform to personalize your app messaging and experiences by taking our Product Tour.
- See Leanplum in action with a complimentary personalized Product Demo.
For app-first companies, Leanplum is the only solution that helps personalize and optimize all customer touchpoints, both inside and outside the app. Leanplum combines multi-channel Lifecycle Marketing with the ability to A/B test the Product Experience for complete, end-to-end personalization of the mobile journey. Break down organizational silos and eliminate point solutions to enable rapid growth.