Nays is a multifunctional app offering significant earnings and micro-credit opportunities through discounts and gift money benefits on your purchases, including gamification. It also provides quick access to cash when needed and allows you to manage your daily financial transactions, including 24/7 money transfers. For the purpose of meeting changing customer needs and experiences, Nays started using the digital analysis and customer interaction platform Dataroid and thus achieved higher conversions with the power of data.
One of the challenges is to improve the user journey from account creation to the first money transfer in the financial sector. Achieving a successful first money transfer is vital for several reasons. It serves as a critical onboarding step, allowing users to become familiar with the app’s features and functionalities. It also offers them an opportunity to engage with users and maintain their interest in the platform. Furthermore, this initial transfer introduces users to the top-up process. Their overarching goal is to significantly increase the rate of first-time money transfers on the account creation date.
Their “Invite to App” function is a special feature that enables users to invite friends, family, and colleagues to join the platform, with the added incentive of earning rewards. However, they’ve encountered a challenge in keeping users engaged with this feature. While users initially embraced it, they noticed a decline in its usage. They must find a solution to reignite their interest and encourage more users to leverage this feature, where they can earn up to 200 TL for inviting up to 10 people.
They offer a micro loan function that allows verified users to access credit, which they recently expanded to 20,000 TL. These users focus on simple money top-ups, gaining promotional rewards, and transferring funds to their bank accounts or other e-money applications. Their challenge is to transition these customers towards utilizing the micro loan feature, ensuring they leverage the full spectrum of financial services offered. They aim to demonstrate the success their customers can achieve by using them as a digital analytics and customer engagement platform, where the content flows seamlessly from problem identification to solution implementation.
“Dataroid has elevated our customer engagement strategies using real-time analytics and behavioral data. These insights help us tailor seamless digital experiences to user preferences. More than data analysis, Dataroid enables us to craft experiences that keep our DAU and MAU rates above 20%. We are dedicated to creating solutions that resonate on all digital platforms, surpassing user expectations.”
Nays has partnered with Dataroid to enhance their customer experience journey. Dataroid provides Nays with real-time insights into users’ interactions with its applications, enabling valuable data to be collected and analyzed seamlessly. With Dataroid, Nays efficiently optimizes conversion funnels, identifies areas for improvement, and enhances the overall app experience for its customers.
The primary objective is to increase the rate of initial money transfers at the time of account creation. Analysis from both Nays and Dataroid’s advance analytic outcome App Engagement revealed that users who loaded money exhibited higher coefficients, indicating that they were more likely to become bank customers.
Leveraging the insights users were guided to initiate their first money transfer upon registration, facilitating their immediate transition into bank customers (MOI). Throughout this user journey, Advanced Analytics data from Dataroid was employed on the second and third days, assisting customers in the process and incentivizing them with the Win Now reward. This approach aligns with the App Engagement matrix, which indicates how different user groups with varying features perform target events over time and how frequently they do so. By utilizing this matrix, you can compare the behaviors of segmented audiences with different parameters within the application.
Nays’s invite function to the app allows users to invite their loved ones, colleagues, etc. One of the special features that allows them to invite. As a result of the App Engagement analysis made thanks to Dataroid, it was discovered that Nays’ daily push notifications were not sufficient, and people stopped using this function. For this reason, Dataroid’s Action Based Push feature was used to improve Nays’ communication with its users and increase the use of this function. After users successfully used the financial functions, push notifications were sent to invite them to the app function.
Nays aims to encourage its customers to engage in actions beyond basic financial transactions like loading, earning, and transferring money. To achieve this goal, they conducted a cohort analysis using Dataroid to optimize the utilization of initial credits provided to verified users. Through the analysis, they identified a specific group termed “promo-seekers,” who primarily used the app to play “Win Now.” Nays used Dataroid to reach this audience, guiding them toward shopping activities using push notifications and in-app messages.
The downward trend of the first Money transfer at the account creation date was broken and the daily average first Money transfer increased by 16.2%
Daily average of people using the app invite function increased by 16.8%, CR increased by 7%
Generally, 1% of Nays users were inviting daily push notifications to the application function, now an average conversion rate of 8% is achieved with action-based push
The number of people with the potential to borrow money from Nays increased to 12%, and the top-up rate increased to 13%
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