Pumpkin Relies on FollowAnalytics to Activate User Base Through Improved Engagement
Pumpkin is a mobile-first financial services startup offering peer-to-peer payments to a largely millennial target market. Their growth has been explosive over the past twenty-four months, and due to the viral nature of the product, acquisition has been 80% organic. In order to send a payment, both sender and receiver must have accounts, so users naturally share with their friends –often up to ten or more.
But just because new users are acquired quickly, it doesn’t mean they are easily retained. The onboarding process is critical. Pumpkin’s team has found that a whopping ninety percent of users who perform two transactions are retained long-term. In fact, getting the user to the second transaction reduces churn by sixty-five percent. For that reason, onboarding and retention strategies are a top priority.
Pumpkin chose FollowAnalytics because they needed a solution that allows them the ability to easily create and test onboarding and contextual messages, without having to involve their dev team every time they make a change. The drag-and-drop campaign builder allows the marketing team to make on-the-fly changes based on real-time learnings.
Understanding their users was another critical requirement. Pumpkin needed a tool that let them analyze various use cases, and the needs and challenges of each.
FollowAnalytics’ ability to track segments, then target messaging accordingly allows Pumpkin to transform one time users into loyal customers.
Finally, Pumpkin required a platform that could scale to meet their exponential growth without a hiccup. FollowAnalytics’ customer base of global worldwide financial services giants such as Wells Fargo, BnP Paribas, Allianz and Axa ensured that Pumpkin would be in good hands.
“Optimizing retention is critical to our growth. We need to understand our users–who they are, what they want, what’s their usage–and segment accordingly. We need to test messaging without involving our dev team every time we make a change. FollowAnalytics gives us the tools we need to really activate our existing user base to engage more and more.” —Hugo Sallé de Chou, Founder, Pumpkin