Case Study

How Movii Reduced Churn During Onboarding by 36%

4xHigher CTR with ab testing
36%Reduction in new user churn
63%Inactive users re-engaged via omnichanel campaigns
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Movii

The Movii Story

Until 2017, 97% of daily purchases in Colombia were made in cash, and electronic payments were avoided due to associated taxes and fees. Now declining data costs and a younger, more tech-savvy working population is driving innovation in fintech.Founded in 2019, Movii is the first Colombian business specializing in electronic payments, offering digital debit cards through their mobile app. Movii users can make purchases through the app without paying additional handling fees. From paying bills to sending money to other users, the app helps the next generation of Colombians become financially flexible.

Challenges

  • User Data Reducing drop-offs
  • Segmentation Personalizing engagement
  • Targeted Engagement Maximizing transactions

Movii’s first challenge was overcoming a traditional preference for cash payments and convincing users of the benefits of going digital. Besides this, communicating with new app users without pushing them away was also an obstacle.

A metric they wanted to maximize was the number of transactions happening on the app. Even after signing up for the Movii debit card, the number or transactions were lower than what the team was aiming for. It seemed, users were not confident about taking the next steps in the app and were not understanding the importance of paying digital.

Solution

Guaranteeing to help people build confidence in digital payment and ensuring a seamless onboarding experience, Movii decided to partner with CleverTap.
CleverTap helps Movii with user engagement and retention along with providing necessary insights into what new users were doing in the app as well as the tools to engage these new users effectively and guide them through the app.

With Funnels, they get real-time insights into friction points in their app and precisely where new users are dropping off in the onboarding flow. This helps them better understand why users did or did not complete a certain key action: completing the onboarding process, activating a debit card, recharging a card, etc.

Journeys

With these friction points identified, Movii creates omnichannel Journey campaigns to educate and engage users throughout the onboarding process. After sending a push campaign to inactive new users, 63% of users who didn’t finish the onboarding came back to complete it.

Personalized Campaigns

Movii now sends engagement campaigns tailored to a user’s in-app activities. These triggered campaigns are A/B tested with different notifications and CTAs to ensure high personalization and campaign ROI.

Automated Segmentation

Movii’s users are automatically segmented in real time based on their psychographics, demographics, referral codes, and more. It gives them granular insights into who their users are and helps them understand which engagement campaigns to send. With RFM Analysis, they can also monitor the health of their users to see how many new users are going dormant or becoming regular customers.

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“I loved CleverTap from the moment I started using it. It’s not just a mobile engagement tool, but a tool that is helping apps continue to grow and achieve their objectives.” Natalia Garcia Ocampo Marketing & Growth Director at Movii

What’s next?

With CleverTap’s mobile marketing platform in place, along with other technologies and partnerships, Movii aims to reach its first million users. They strongly believe it’s time to push conversion metrics with a data-driven approach and tap into users who are more likely to abandon the app and engage them effectively. Movii’s data-driven decisions drastically improved app stickiness and new user conversion rates. The team continues to refine their strategies and increase the number of people using digital for financial transactions in Columbia.