Tangerine: Retaining Referred Users Post-Onboarding through Personalised Engagement
Introduction:
Tangerine is an electronic money startup that offers Africans living abroad a seamless way to send and manage international money transfers with zero fees. The company experienced strong initial growth, particularly through its referral scheme, which rewards both the referrer and the referee with £50 when certain conditions are met. However, while the referral programme successfully drives sign-ups, Tangerine notices a significant drop in user engagement after onboarding, particularly among referred users.
Task:
Many users will complete their first transfer to claim their reward, but then fail to make any further transactions. The task is to re-engage these referred users and convert them into long-term, active customers who regularly use Tangerine to send and manage international money transfers.
Approach:
1. User Segmentation and Behavioural Analysis:
The first step is to segment users based on how they joined the platform (e.g., referred vs. organic) and their post-boarding activity (e.g., users who complete only one transaction vs. those who continue to transact). Particular attention is paid to referred users who drop off after their first transaction. Followed by a detailed behavioural analysis identifies key drop-off points and patterns to understand when and why these users lose interest.
2. Personalised re-engagement campaigns:
Welcome series for referred users:
Day 1: A personalised welcome email thanking them for joining Tangerine through the referral programme and highlighting the zero fee advantage on every transfer.
Day 3: An educational email explaining the long-term benefits of using Tangerine, including significant cost savings compared to traditional money transfer services.
Day 7: Success stories from loyal customers who regularly use Tangerine demonstrate the emotional and financial benefits of hassle-free, zero-fee international money transfers.
Dormant User Re-engagement Series:
Week 2: A promotional email offering a limited-time incentive, such as bonus points for completing multiple transfers.
Week 3: A reminder email provides a quick, step-by-step guide to initiating a transfer, highlighting the platform's ease of use for international transfers.
Week 4: An exclusive re-engagement offer, e.g. we'll give you [X% off] or bonus credits on your next transaction. Simply use the code WELCOME BACK at checkout!
3. Automated email workflows:
Trigger-based emails:
Automated workflows send timely emails to users who have not made a second transaction within 14 days of their first. These emails highlight the bonus point or discount incentive and remind users of the zero fee benefit, e.g. Enjoy zero fees before it's too late or get £X off your next transfer.
Referred users receive a special follow-up email seven days after they receive their referral bonus, encouraging them to refer more friends and explaining how they can earn more rewards, e.g. ..."we noticed that you haven't made a transaction since your first one! Here's a reminder of how much you can earn when you refer a friend to Tangerine.
Behavioural triggers:
AI-driven behavioural triggers predict when users are likely to churn. Personalised emails are sent at critical moments before churn, offering incentives to keep users active and engaged on the platform, e.g. Don't miss out - Special offer just for you fname!
4. Incentives and loyalty programme:
A loyalty programme is introduced to encourage repeat usage. Users earn points for each transfer which can be redeemed for rewards such as increased transfer limits, additional referral bonuses or other exclusive benefits e.g. Earn Rewards with Every Transfer!
Gamification is added by introducing milestones that allow users to unlock achievements based on their activity. This gamified approach motivates users to share their progress on social media and refer even more friends, e.g. Congratulations! You've unlocked a new milestone!
Possible Outcomes:
1. Improved retention rates:
Through personalised re-engagement campaigns and targeted incentives, Tangerine retains a higher percentage of referred users. Instead of dropping off after their first transaction, these users are motivated to make additional transfers, resulting in improved long-term retention.
2. Increased Lifetime Value (LTV):
By consistently encouraging repeat usage through loyalty programmes and regular communication, the lifetime value of referred users increases. Users are converted from one-time participants to long-term customers, increasing overall transaction volume and revenue per user.
3. Higher engagement metrics:
Triggered and behavioural emails generate higher open and click-through rates as referred users respond positively to personalised content. This leads to increased user activity on the platform and greater engagement with Tangerine's services.
4. Improved insights for future campaigns:
The data gathered from user behaviour provides valuable insights that enable Tangerine to continually refine its customer engagement strategies. These insights not only help retain referred users, but also inform future marketing initiatives, resulting in more effective campaigns across the board.
Conclusion:
This case study is a fictional example of the kind of approach I would take to address similar challenges faced by companies like Tangerine. Through personalised re-engagement campaigns, automated email workflows and loyalty-driven incentives, I would work with clients to address user drop-offs and increase long-term engagement.
Using behavioural analytics and AI-driven triggers, Tangerine's referred users receive timely, relevant content that drives higher retention and lifetime value. These strategies, which can be customised for any business, are designed to convert one-time users into loyal, long-term customers. If your business is facing retention or engagement challenges, I can help you implement tailored strategies that deliver real results. Let's chat and create a tailored approach that works for your business.
