Vietnam boasts a vibrant startup ecosystem and is among the many high 3 most tasty funding locations in Southeast Asia. Fonos, a Vietnamese audio content material startup, is without doubt one of the outstanding gamers on this thrilling panorama, having fun with an accelerated progress momentum since 2020. With subscription companies masking 1500 items of authentic content material, 200+ podcast channels, and 1200+ copyrighted audiobooks, it’s the primary audiobook app on each Apple AppStore and Google Play Retailer in Vietnam.
The problem of streamlined advertising and marketing and ongoing personalisation to have interaction busy customers
Vietnamese customers have excessive expectations from their audio apps — from supporting their upskilling, private and religious progress, and to catching up on the information in numerous spheres and studying to their youngsters.
Fonos provides all of this however discovered that greater than two-thirds of its customers are busy folks. Whereas the customers come on to the app as a result of they recognise it will probably meet their wants, Nguyen Hong Nhung, Head of Development Advertising at Fonos and her workforce, noticed that the customers might keep longer and return extra typically. Fonos had the potential to turn into the go-to studying and content material companion for patrons around the clock. To attain this, the Fonos workforce determined to make use of a robust all-in-one answer that may assist tailor personalised retention methods and create new consumer behaviours.
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Due to its real-time Recency, Frequency, and Financial segmentation options that underpin omnichannel, lifecycle advertising and marketing, and automatic and personalised communication, Fonos sought CleverTap’s companies.
“Fonos, proper from its early days, understood the significance of focussing on consumer lifetime worth as a option to obtain its objective of being a ‘every day companion’ to its customers. CleverTap serves as a strong, unified engagement platform, empowering us to have interaction customers contextually in actual time and use automation for enhanced effectivity,” shared Nhung.
A basis for tailor-made, end-to-end lifecycle engagement
With CleverTap because the cornerstone, Nhung and her workforce got down to construct a data-driven technique to maximise buyer lifetime worth (CLTV). This might be carried out in two methods: Driving subscription gross sales all through the client lifecycle (set up, trial, renewal), whereas concurrently boosting buyer retention.
Nhung’s workforce kicked issues off by segmenting their consumer base. They used CleverTap’s reside unified buyer views up to date with real-time consumer interplay information, as the perfect place to begin to phase customers primarily based on consumer sort (Free/Subscription/Churn) and the class of the product (Audiobook/E-book/Podcast). For enabling lifecycle-based engagement, CleverTap’s refined Recency, Frequency, and Financial (RFM) behavioural segmentation algorithm was utilized. This creates segments of customers primarily based on how just lately and the way typically they have been energetic, in addition to the worth of their transactions.
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RFM segmentation provides a number of benefits. RFM takes all the viewers and maps them onto a recency and frequency grid, breaking them down into 10 distinct teams. It’s totally automated and takes care of complicated mathematical modelling with full accuracy. Thus, the Fonos workforce saves hours of effort which might be spent on computing which customers belong the place. In addition they have entry to the chance of a consumer transitioning from one phase to a different, which might occur at any time throughout the lifecycle.
Outfitted with this new, multidimensional, real-time overview of their customers’ lifecycle levels, the Fonos workforce leveraged extra of CleverTap to create laser-focused engagement.
Leveraging RFM-backed journeys and insights to personalise consumer experiences and maximise CLTV
From the second the purchasers discover and obtain the Fonos app, they interact with it in diversified methods. Towards this backdrop, Fonos’ predominant objective is to make personalised content material options in real-time, so prospects can rapidly uncover what they want and maximise their utilization of the app’s giant library. Allow us to have a look at how the workforce used CleverTap to attain this.
Within the case of customers who obtain the app and enroll, conversion-focused journeys auto-trigger campaigns to have interaction those that stay inactive post-sign-up with welcome onboarding emails. Equally, tailor-made journeys win again customers about to cancel their subscriptions by reminding them how a lot they may miss their most-used options. Customers who neglect or overlook spending their plentiful credit are alerted with personalised messages on their most well-liked channels earlier than the credit expire.
On this method, RFM segmentation ensures that alongside any tailor-made journey, the provides, and customised messaging attain the best consumer on the best channel, constantly enhancing the expertise. CleverTap additionally permits the workforce to determine the ‘golden time’ of the day to have interaction customers, additional boosting effectiveness. The Fonos workforce can also be in a position to streamline their efforts by tapping into deeper insights mined by CleverTap, similar to by not specializing in customers who use the app for lower than 10 minutes a day within the first week as they’re unlikely to show into loyal prospects.
With this built-in execution of tailor-made journeys and lifecycle messaging proper from the onboarding stage to offer seamless personalisation, Fonos is seeing concrete beneficial properties. There’s a important conversion uplift between 5%-10% and an considerable income increase of 10% for consumer teams the place CleverTap segmentation and instruments have been utilized.
“RFM segmentation has helped form a much more efficient technique, supercharging our return on funding by boosting retention charges and maximising consumer lifetime worth,” defined Nhung.
Nurturing buyer loyalty by RFM-powered personalisation
The Fonos workforce additionally leverages RFM segmentation and invaluable insights from CleverTap to have interaction loyal prospects and persuade them to make referrals. Loyal customers, as an illustration, are provided personalised content material in order that they really feel valued. One other method that’s presently working nicely is two-way conversations. Prospects within the extra loyal segments are requested for suggestions, assured it will likely be carried out, after which engaged once more to see if they’re glad. Excessive-value, at-risk prospects are satisfied to remain by providing them gainful, customised loyalty packages, whereas loyal prospects are incentivised to offer referrals.
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“By leveraging RFM segmentation and stellar consumer database administration, Fonos has remodeled consumer engagement, growing each app utilization time and month-to-month energetic customers. In in the present day’s distracting digital panorama, consumer loyalty is the heartbeat of a thriving subscription enterprise, fueling steady progress and unwavering engagement,” added Nhung.
A knowledge-driven success story
There’s clear proof that every thing Fonos has carried out thus far to extend consumer engagement is working. The e-mail open price of 20% is considerably larger than the business benchmark. At 10%, the In-app message open price can also be at an amazing stage. Crucially, since CleverTap, month-to-month energetic customers month-on-month progress has seen a 25% soar with absolutely the quantity growing 6-fold over six months. Fonos completed this by intelligently harnessing information to have interaction the busy consumer in the best method on the proper time.
“CleverTap’s CRM system, by offering personalised buyer experiences, advertising and marketing efficiency optimisation, and measurable metrics to gauge the success of our efforts in real-time, has tremendously aided our progress,” Nhung shared.
To study extra about how CleverTap may also help what you are promoting create a tailor-made technique for participating customers, go to them at https://clevertap.com/live-product-demo/.
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Photograph by Christina Morillo through Pexels
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This text is produced by the e27 workforce, sponsored by CleverTap
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