The world of Fintech is teeming with fierce competition, but ET Money has carved a niche for itself by focusing on the only thing that truly matters: the user.

This article explores how they attract and retain users and reveals the secret insights they have gained about personalized financial guidance.

Imagine a platform that offers investment options, understands your unique monetary personality, and tailors its advice accordingly in real time, taking into account each market twist and turn.

ET Money’s strategy empowers and enables individuals to make informed, confident financial decisions.

From psychographic investing to ET Money Genius, ET Money’s Chief Operating Officer, Santosh Navlani, takes us through all his strategies for user retention and engagement in the podcast. 

Let’s hear some of his main insights that you’ll find useful in your own retention strategy.

The Upsell Dynamics: Exploring the Journey from Trial to Genius Subscription

Retention is a key focus for us. 

We ensure users stay engaged with the platform by delivering great investing outcomes.

During the initial trial period, our users can explore ET Money Genius at a reduced cost of just Rs. 49 per month for the first three months.

A lower price point allows them to see the benefits of the service without significant financial commitment.

We wanted users to experience the value of personalized financial advice without feeling pressured by cost.

Throughout this trial, we also focus on their financial education. They get access to a wealth of resources to help them understand how to invest, manage their portfolios, and plan their finances.

This, in turn, helps build trust and demonstrates first-hand the platform’s value.

Our Genius service provides continuous advice and helps users stay on track with their investment goals.

Personalization is also key in converting hesitant users to subscribers during their trial period.

By assessing users on factors like financial knowledge, loss aversion, and decision-making behavior, ET Money delivers tailored, relevant advice for each user and their unique needs.

Once users see the benefits of such guided advice, they are more likely to get a full subscription.

The journey from a trial to a Genius subscription is seamless, with users often upgrading after experiencing the benefits of personalized advice.

Understanding ET Money’s Advisory vs. Operational Capabilities

In fintech, the differentiation between advisory and operational capabilities is crucial.

ET Money balances these two aspects to deliver a seamless user experience by offering a comprehensive portfolio management service that includes regular reviews and actionable advice. 

As a result, one can quickly and easily implement the advice from buying, selling, or rebalancing their portfolios.

Their processes are designed to reduce friction with investing, from seamless onboarding and KYC verification to real-time UPI payments.

Our pricing model for Genius is flat, regardless of the investment amount. This approach ensures that our advice remains unbiased, and we can recommend selling assets when necessary without affecting our revenue.

Aspirations and Challenges in Tailoring Content for Individual Investor Needs

Providing personalized financial education at scale is not easy. But ET Money’s content strategy is made up of more than just that.

I must emphasize that evergreen content is a far better strategy because it remains relevant over time.

Such content pieces, which include fundamental monetary concepts and tried-and-tested investment strategies, provide lasting value to users, regardless of market fluctuations.

Coming back to personalizing at scale, ET Money faces significant challenges because of the sheer size and diversity of our audience.

Our users come from various backgrounds with different levels of financial literacy and unique financial goals.

Additionally, financial markets bring in further complexity with their fast pace and sudden changes.

To tackle this, we employ a dedicated team and a combination of automated systems that help them rapidly respond to market developments and update their content pieces accordingly.

While personalized content is highly effective, it can be resource-intensive to produce. 

We then deliver content to its users via multiple channels in their app, including blogs, videos, social media, and internally.

Some users prefer watching YouTube videos, while others rely on Google searches or social media for information.

With such different channels, ET Money can engage users where they are most comfortable, making their overall user experience more pleasurable.

Finally, we measure the success of our content experiments in terms of user engagement and satisfaction and continuously fine-tune our future content strategy.

Recognizing the Role of Timing in Customer Conversions

Timing is critical in converting customers in the fintech space since market conditions impact investor sentiment and decision-making.

During bull markets, investors are usually more hopeful and less risk-averse, leading to higher customer conversions.

Conversely, investors become more cautious during bear markets, and conversion rates can decline.

We align our content and campaigns with current market conditions to ensure relevance and resonance.

Additionally, engaging users at the right time in their financial journey is essential for conversions.

For example, young professionals might be interested in simply beginning to invest, while middle-aged individuals might want to focus on retirement planning.

We can pinpoint the optimal times to engage with users by analyzing user data.

At ET Money, we also factor in seasonal trends to convert customers. We see a surge in financial activity at certain times of the year, such as tax season or the end of the financial year.

During such times, users look for financial and investing advice. To capitalize on this, we run targeted campaigns with relevant content.

82% Form Fill Rate: A User Engagement Miracle

Brands usually see low user engagement when it comes to mundane but complex tasks like filling out forms.

Yet, at ET Money, we achieved an astonishing 82% fill rate for a 19-question survey designed to assess users’ financial personalities.

Forms are typically seen as tedious and time-consuming. Getting users to complete a long form is a significant challenge, especially in the fast-paced world of mobile apps.

The average attention span of mobile users is short, and any friction in the user experience can lead to them swiping up and exiting the app.

The key to success lies in personalization and highlighting the benefits a user will experience if they complete the form.

ET Money positively nudges its users to invest their time in it by making them realize that the more information they provide, the better the recommendations they will receive.

It also makes them feel more valued.

Another factor contributing to their high form-fill rate is the form’s design, which makes each question straightforward and visually appealing.

We also use progress indicators to show users how far they’ve come and how much is left.

This technique helps maintain momentum and motivates users to not give up on submitting the form completely.

Wrapping Up

There are many more insights, tips, and innovative strategies ET Money employs to empower users and enhance their experience with their app.

As Santosh highlights in this edition of the State of Retention podcast, their continuous efforts to adapt based on user feedback ensures they remain a leader in the fintech space.

By focusing on personalization, education, and user-centric design, ET Money has successfully created a platform that not only attracts users but keeps them engaged and invested in their financial future.

We invite you to check out the full podcast here to gain a deeper understanding of how they map investor journeys and invest in psychographic investing.

And if you’re looking for more retention strategies and advice from leading brands and apps, explore our full catalog of podcasts here!