Customer retention

How A Fintech Startup 5xed Its Customer Retention Rate In 90 days.

This article talks about Boost, a startup in Malaysia with a customer base of over 7 million users that 5xed their user retention rate in a 90-day period with automated messages.
Abimbola OlatokeAbimbola Olatoke
Nov 4, 2022.
2 mins readHow A Fintech Startup 5xed Its Customer Retention Rate In 90 days.

Let me talk to you about Boost, a startup in Malaysia with a customer base of over 7 million users that allows merchants and customers to make cashless transactions.

On their journey to getting to 7 million users, they grew by over 50% in a year, what does this mean in numbers? It means that they started the year with 3.5 million users and by the end of the year had 7 million users. Impressive right? Very.

But it came increasingly difficult for Boost to track customer behaviour and satisfy customers, and soon their customer retention rates began to decline. Thankfully, they caught this decline in time and found a tool that gave them insights into their customers’ historical data such as click, open, and conversion rates

With this data, they decided that the best course of action was to prioritize personalization in the app’s user experience and create relevant campaigns for specific user segments.

Paying attention to their customer’s behaviours and taking personalization seriously, especially with emails and in-app messages, did two things for them.

  • It doubled Boost’s monthly active users.
  • It 5xed their user retention rate in a 90-day period.

Now you are thinking to yourself, what tool was this and how I can lay my hands on it?

Well, we’ve got a tool that can help you do the exact same thing, and it’s called LUMEN

How Does It Work?

With Lumen, you can get insights into your customers’ behaviours and actions on your products, and with these insights create highly personalized messages that can be sent via text, email, and push notifications.

The best part is that you can automate these messages and schedule them so they are sent when any other customer carries out the same action.

How do you get started?

  • Visit uselumen.co
  • Click on get started and sign up


If you need further details on how Lumen can help you improve customer retention, kindly schedule a demo here https://calendly.com/lumen-demo/30min


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