This Saturday was particularly productive as I participated in the "RISE: Mastery in Retention" program by WebEngage. This cohort-based program delves into the nuances of retention marketing. It was an insightful session by Sankalp Rohatgi , Head of Growth at Groww. Here are some key takeaways from Session : Payback Period : This metric indicates how quickly a business recoups its investment in customer acquisition. A shorter payback period means faster recovery of the initial investment. Payback Period= Initial Investment/ Average Monthly revenue from a user. MECE Framework: The Mutually Exclusive, Collectively Exhaustive framework helps create tailored retention strategies by considering the unique needs and behaviors of different user segments, leading to better retention rates. Glue Frequency: It refers to a pattern where after 4 purchases, there is an 80% chance that a customer will remain loyal to the business for an extended period, thereby boosting revenue. Real-Life Case Studies on Retention : Groww: Prevented churn during market fluctuations through educational messaging and engaging users with products beyond the core value proposition. Domino's: Retained high-spending customers on the app through their Cheesy Rewards loyalty program. A huge thanks to Chirag Parmar Harshit Manocha, Shantanu Saha and WebEngage Team for organising this session. #SORMRise2024
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𝑬𝒗𝒆𝒓 𝒘𝒐𝒏𝒅𝒆𝒓𝒆𝒅 𝒉𝒐𝒘 𝑮𝒓𝒐𝒖𝒖 𝒃𝒐𝒐𝒔𝒕𝒆𝒅 𝒊𝒕𝒔 𝒖𝒔𝒆𝒓 𝒓𝒆𝒕𝒆𝒏𝒕𝒊𝒐𝒏 𝒃𝒚 17% 𝒘𝒊𝒕𝒉 𝑾𝒆𝒃𝑬𝒏𝒈𝒂𝒈𝒆? 𝑯𝒆𝒓𝒆’𝒔 𝒕𝒉𝒆𝒊𝒓 𝒔𝒖𝒄𝒄𝒆𝒔𝒔 𝒔𝒕𝒐𝒓𝒚! 🌟 Grouu , a gourmet baby food brand, set out to tackle challenges like high drop-offs and manual marketing inefficiencies. By partnering with WebEngage, they transformed their user engagement strategy and achieved remarkable results. 🚀 Key Wins: 🔹 33% Increase in Monthly Active Users 🔹 28% Boost in Added-to-Cart Conversions 🔹 57% Conversion Rate for Initiated Checkouts With WebEngage’s advanced automation, personalized campaigns, and on-site surveys, Grouu streamlined its processes, re-engaged customers, and scaled growth like never before. 💡 A heartfelt thank you to Natalia Imelda and the Grouu team for trusting us to be a part of your incredible growth journey! 🙌 Want to dive deeper? Download the #impactstory via the link in the comments. 👇 #RetentionSimplified🚀 #CustomerEngagement #UserRetention #GrowthMarketing #WebEngage
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🚀 Excited to Share a Milestone! I’m thrilled to announce that I’ve successfully completed the Fundamentals of Retention Marketing with WebEngage! 🎓 In today’s competitive landscape, retaining customers is as crucial as acquiring new ones. This course deepened my understanding of customer engagement, retention strategies, and lifecycle marketing using cutting-edge tools and insights from WebEngage. A huge thank you to the team at WebEngage for this well-structured and insightful program. This certification has equipped me with the skills to: ✔️ Design effective retention marketing strategies ✔️ Leverage data-driven insights to enhance customer experiences ✔️ Build long-term relationships with customers Looking forward to applying these learnings and driving meaningful impact in my future projects. #RetentionMarketing #CustomerEngagement #ContinuousLearning #WebEngage
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Absolutely thrilled to be part of the inaugural cohort of RiSE: Mastery in Retention by WebEngage! Key Takeaways: Payback Period: This metric is a great alternative to CLTV for tracking customer value. A shorter payback period ensures quicker recovery of marketing and CAC investments, creating a virtuous cycle for reinvesting in business growth. MECE framework to segment user cohorts (time-based, behavior-based, demographic) and define funnel stages (awareness, consideration, conversion, engagement, retention, churn) with distinct actions (onboarding, engagement, retention, re-engagement) for comprehensive OTT platform retention strategies. Personalized User Journeys Each user has a unique journey and must be treated accordingly. If they don’t respond to your strategies, it’s crucial to iterate and adjust your approach. A huge thank you to Sankalp Rohatgi for the invaluable insights and to Harshit Manocha, Shantanu Saha, Chirag Parmar, and the entire WebEngage team for organizing this. Excited for more sessions and to keep progressing with #SORMRise2024! #LearningJourney #CustomerRetention #WebEngage #BusinessGrowth #MarketingInsights
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When I started my career, learning about Customer Retention was a challenging journey. There were few resources, mentors, or peer groups to discuss challenges and share experiences. It's truly heartening to see organisations like WebEngage leading the way in educating marketers on core concepts of Retention, Customer Engagement, Experimentation, and Strategy through their Rise Cohort Program. This weekend’s session, the latest in an 8-session series, was incredibly insightful, especially in an era where businesses are increasingly focused on unit economics, CAC, ROAS, profitability, and repeat revenue. Retainin g customers is key to improving all these metrics. 📌 Here’s how I'm applying the learnings: 👥 MECE Segments & Funnels: Expanding journey flows from 5 basic ones to 40 comprehensive flows to cover the entire user journey on our platform. This includes separate flows for different product lines to personalise campaigns and content based on user motivation. ♟️ Personalised User Journeys: Developing a custom trait model to better segment users, personalize campaigns, and tailor product recommendations. ⏳ Universal Control Group: Implementing a 2% Universal Control Group to track overall retention efforts and link them to achievable outcomes. The opening cohort of 200+ members also engaged in a collective brainstorming session. The energy was infectious! A big thanks to Sankalp Rohatgi for delivering a comprehensive overview of retention strategies, key metrics, financial insights, and practical applications for driving sustainable growth through customer retention. The quality of the session was truly on par with Reforge’s Retention and Engagement program. Shoutout to Chirag Parmar, Harshit Manocha ✨, Shantanu Saha, Ankur Gattani, Ankita Shinde and the entire WebEngage team. Looking forward to the upcoming sessions! #SORMRisE2024 #RetentionSimplified
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I didn’t realize cohorts were this simple to understand and implement until Suraj Shetty brought this to light during the 3rd session of the RisE program by WebEngage. 🌟 He explained how customers within the same segment of behavioral and demographic characteristics can be very different people with different intentions for using your product. That’s where cohorts come into play. 🔍 Cohorts are basically groups of users who perform the same or similar actions or experience (segments) during any particular time period. 🕒 Cohorts = Segment + Time period Cohort analysis is a method to study the behavior and performance of a specific group of users over time. 📈 Key data points needed for the analysis include: Segments 🔄 Time Periods 📆 Metrics (KPIs) 📊 With cohort analysis, you can determine acquisition channels, user retention, and revenue retention month-over-month (MoM). Using segments, you can identify which groups of customers are the most profitable and align well with the company. 💡💰 Suraj Shetty also emphasized the importance of understanding the voice of the customer and how beneficial it can be for the brand, leading to higher retention. 🎤❤️ Interesting and excited to see what the rest of the program holds for me to learn. 🚀 #SORMRise2024
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Going for gold 🥇when it comes to optimizing customer experience? That’s what FNP did when they onboarded MoEngage in order to : 🖥️Personalize Website for their customers at scale. 🔊In addition to sending communication on Email, WhatsApp and SMS, onboard channels like On-site Messaging and Web Push Notifications. 🛣️Personalize customer journeys to reduce cart abandonments. 🏬Seamlessly merge online and offline engagement. Waiting for them at the finish line 🏁were shining results like: 🏆4.18% CVR for cross-category banners using Website Personalization. 🏆2-3% increase in conversions using MoEngage Flows vs. previous journeys. 🏆12.86% CVR for lead gen pop-ups using OSM. Read the gifting brand’s complete story to personalization success: https://lnkd.in/gbNS7KxZ
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I had an incredible learning session today as part of the inaugural cohort of RiSE: Mastery in Retention. Today was the first day of the journey of this program organized by WebEngage. Here are some key insights I gained from the session: 1. Customer Retention - Retaining just 10% more of your customer base can drive sustained growth over time. This retention-first approach significantly increases the likelihood of doubling or tripling revenue within the first year, all while reducing marketing spend and CAC. 2. Payback Period - Besides CLTV, the payback period is another crucial metric to assess customer value. A shorter payback period ensures quicker recovery of investments in marketing, CAC, and other expenses, creating a virtuous cycle where faster cost recovery enables reinvestment in business growth. 3. Personalized User Journeys - Each user is on a unique path and should be treated accordingly. If current strategies or offerings aren’t working, it’s crucial to iterate and adapt. Thank you to Sankalp Rohatgi for the insightful session and to Harshit Manocha ✨, Shantanu Saha, Chirag Parmar, and the entire WebEngage team for organizing it. #Retention #SOMRise2024 #WebEngage #Marketing #Growth #CustomerRetention
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🚀 Excited to share a #Implementation case study that showcases the transformative impact of MoEngage's customer engagement platform on "the ENTERTAINER". 🎯 The success story of the ENTERTAINER is a testament to how strategic, data-driven marketing can significantly boost user engagement and stimulate revenue growth. 🔗 Check out the full case study for an in-depth look at how MoEngage revolutionized The Entertainer's approach to customer engagement. #MoEngage #TheEntertainer #CustomerEngagement #UserRetention #RevenueGrowth #MarketingStrategy #CaseStudy #Personalization #MarketingTools
the ENTERTAINER seamlessly transitioned from its old customer engagement platform to MoEngage, migrating 45+ apps within the first 10 weeks. Hear it from Penny McNamara, the Head of Marketing at the ENTERTAINER: “By leveraging MoEngage’s pre-built templates and functionalities, we’ve been able to streamline our multi-channel engagement campaigns, allowing us to deliver targeted messaging across various channels with greater efficiency. The Customer Engagement Platform’s web pop-ups with countdown timers (On-site Messaging) and In-app user surveys have already played a major role in enhancing campaign engagement.” The MoEngage Professional Services team enabled this smooth transition. A huge shoutout to superstars like the Implementation Manager, Sanjeev Chaurasia and Jackeline Conroy, Richard Quipp, and Muhammad Bilal from the ENTERTAINER, whose commitment to driving the migration seamlessly resulted in such a fast and efficient transition. Read the full story here: https://okt.to/QHXkEp Saloni Jain | Shivani Naveen | Sweta Duseja | Haroon Riaz | Kunal Badiani
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MoEngage is recognized as a "Contender" in The Forrester Wave™: Real-Time Interaction Management, Q1 2024, with high scores in digital marketing and experience personalization. 🎉 You can access a complimentary copy of the report here: https://bit.ly/43fEoVw What's in the report? ✅ An overview of the real-time interaction management market and providers. ✅ MoEngage's digital marketing and experience personalization capabilities. ✅ MoEngage's strong support team and easy integration with customers' existing martech ecosystems.
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📊 Case Study - needed for all growth, marketers, and data in the #FoodANDBeverage industry 🍔🥤- Happy reading, Happy learning! Foodhub Increases Basket Conversion to 86% Using Customer Insights! 🛒 Foodhub's Customer-First Approach Driving Strong Results 🙌 🌍 It's a UK's third-largest online food delivery service on a mission to connect people with food. To achieve this, they turned to MoEngage in 2022. After implementing MoEngage, their company metrics skyrocketed! 📈 Numbers Language? ✨ ✅ 25% Increase in new user activation 👥 ✅ 86% Increase in basket conversion 🛒 ✅ 10% Increase in average order value 💰 ✅ 38% Decrease in basket abandonment ❌🛒 - The Story? 📖 Foodhub was in search of a Customer Engagement Platform that allows effective customer segmentation based on habits and provides advanced analytics to make informed decisions. This resulted in increased cart conversions, new user activations, order value, and overall growth. 📊 What happened next? 🔍 MoEngage's RFM capability came to the rescue by identifying different customer segments and sending relevant communications across channels like SMS and In-app. 📱 This enhanced engagement with inactive customers, reduced churn and encouraged basket abandoners to complete their purchases. 💪 Time is no longer an issue with MoEngage, thanks to quick and efficient onboarding in just 4 weeks! ⏰🚀 Share your thoughts below for more insightful case studies! 💡💬
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Glad you enjoyed it! 💙