Rahul Negi On Mobile Marketing
What are your thoughts about increasing customer LTV?
In the fintech industry, trust is the most important factor. Obviously, the customer is always looking for driving their secure profit. As we help the customer compare and choose different financial solutions, we ensure that the comparisons are not limited to money. We add a number of factors that can add trust to their decision making. In our marketing, we try to deliver timely and relevant information to the customers to help them in their financial journey. This is pretty much the core of increasing customer LTV.
How do you stay ahead of changes in mobile marketing?
It is tough, to be honest. In this generation, great minds are innovating so fast that it’s near to impossible to ahead of the changes. So, we try to keep up with the changes. We adapt to the convenience of the customer. That’s the fundamental. So, keep a close eye on what our customer love and how we can do more for them. Personally, I try to analyze data tirelessly to understand the trends in the mobile market. While relying on AI and ML to a good extent, we regularly arrange brainstorming sessions on those data points to make sure that human capabilities are well utilized.
Tell us about the most exciting part of being a marketer for you.
My favorite part of marketing is playing an important role in almost every innovation in the organization. From proposing new features to the product team relying on the market research to announcing a new launch among the customers, marketing is irreplaceable. I love being a part of all this. Though I am handling responsibilities that go beyond marketing, I like to identify myself as a marketer. It has been some years in the industry as a marketer and I don’t see myself doing anything else. Probably I was meant for it.
Why is it important to connect with users across multiple touchpoints?
There a couple of reasons. Different touchpoints have a different impact on the customer. While video ad can give a great boost to the brand value and driving installs, a social media banner ads can trigger action. Another reason why multiple touchpoint strategy is essential is because of the number of distractions that users have. As a marketer, we are not only competing with businesses in our vertical but also with every other app that is trying to reach our customers. So, we have reach customers across touchpoints and platform to guide them to later stages of the sales funnel.
What strategies work best to get quality installs?
It’s a series of different processes done right. Quality installs mean not just any user but a high-value user. So, we need to identify the right set of quality audiences. Then identify the right touchpoints. User has short attention spans and when it comes to the fintech industry, they are skeptical of sharing their details. So, our brand messaging has to be right - setting realistic expectations. So, if we are checking all these boxes right, we are on the right track. We consistently monitor our quality of installs based on different KPIs, including average transaction, the number of days for 1st action, Daily Active Users (DAUs), and Monthly Active Users (MAUs).