About Scripbox

Scripbox is India’s leading digital wealth manager. Founded in 2012, it is recognized for creating simple and elegant user experiences in a complex domain. Scripbox uses proprietary algorithms to deliver a full-stack of wealth management solutions.

Scripbox is led by Atul Shinghal, Founder and CEO, and Sanjiv Singhal, Founder, and Chief Product Officer. Scripbox has been recognized as the 2nd most influential financial services brand globally by LinkedIn and has received the Financial Express’ Best Bank Award.

What makes Scripbox stand out from the crowd?
Users can:

• Consolidate and track their wealth in one place
• Review and modify their investments to ensure that their wealth grows
• Explore multiple investment options to choose and invest well

Scripbox’s Objective

• Leveraging automated workflows to drive engagement and retention
• Leveraging contextual and personalized communication strategy to deliver value-driven content
• Using communications as a viable acquisition strategy while making sure no customer is spammed with notifications

Scripbox’s Challenges

• Advanced campaign management requirements using multiple channels to cater to the audience
• Lack of an advanced and real-time action-driven user segmentation
• Unable to optimize marketing attributes to boost acquisition and retention efforts
• Lack of an automation mechanism to deliver personalized content

Why did Scripbox pick WebEngage as its marketing automation platform?

The most fundamental problem that WebEngage solved for Scripbox was attribution.
Understanding and mapping which customer was converting against which event, getting more clarity about the customer, and seeing what channels they were engaging with was something they hoped to understand with WebEngage.

Scripbox also wanted to ensure that no communication was spamming the customer. And this is where WebEngage stepped in to help Scripbox attain its business goals.

Solution

Having used WebEngage’s services before, Scripbox wasted no time onboarding u1s and beginning their user engagement journey. Using Journey Designer, they automated their omnichannel services and engagement tactics to achieve the best results. WebEngage further acted as an analytics platform giving direct insights into the audience’s properties and behaviors.

Initially, Scripbox began with their segmentation based on user demographic like age groups, however, they didn’t get the desired results.
Later they built user segments based on domestic and NRI residents, which was a successful campaign and produced significant results.

Bifurcating customers into segments allowed the brand to capture their traits and actions separately, which gave Scripbox a jump toward solving its user segmentation woes. Moreover, the dashboard features like ‘Send Intelligently,’ ‘A/B testing,’ and personalization opportunities contributed to leveraging communication channels more effectively, enabling the brand to communicate the right message to the right users without any hassle. It also helped the brand measure and compare the campaign performance to optimize the best-performing ones.

Furthermore, Scripbox engaged its users with enriching marketing campaigns using rich media and personalization elements, thereby avoiding the risk of spamming users with non-contextual messages.

Key Results

With the help of WebEngage’s Retention Marketing Platform, Scripbox saw:

• A 3X rise in user engagement – leading to more retention and conversion in the 2nd quarter
• Less user spamming – sending users more relevant pieces of content
• 25-30% growth in email open rates
• Detailed insights about the users and their behavior
• Frequency capping in the campaigns leading to a reduction in the unsubscribe rate by 25% in Q1 2022