Latest data shows only one in every five users who download fintech apps sign up within the first week. Something is wrong if only 21% of those who download a fintech app sign up within the first week. While speed, ease, and convenience are all motivators for downloading fintech apps, it appears that the onboarding process must also be contextually relevant in order for consumers to sign up. Most users want an easy button to help them solve their problems and are less interested in lengthy registration processes.

But there is some good news. 70% of those who sign up do so within 75 seconds of opening the app. It demonstrates that many users are eager to begin their fintech journey.

During the first month, 95% of new fintech app users make at least one financial transaction. 76% of users progress from onboarding to deeper-in-the-funnel engagement in a week, and the average user launches their app 11 times per month. During the first week, however, only 15% of new users complete more than one transaction. As a result, marketers must continue to tailor user engagement strategies to increase retention after download.

In this blog, we will show you how we help a fintech app boost its user engagement and win +200% app downloads with our personality and creative ASO strategy.

App store optimization(ASO) result

What results did we get after the ASO optimization?

After our app store optimization process, the app's monthly new app downloads doubled, and the app rating went from 3.5 to 4.8 in two months.

• +68% search downloads on App Store
• +184% Top 1 keywords for which app ranks organically in App Store
• +200% keywords in Top 1 for which app ranks organically in Google Play

In short, we got very good results. Let's have a look at them more in details.


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App Story

Our client is an online money tracker mobile app. It discovers the insight you need to get the most out of your money, see the big picture, and see all of your financial accounts on one screen. Or zoom in on details of your cash flow, expenses, credit score and net worth.

App store optimization challenge

Fintech apps face several unique challenges when it comes to App Store Optimization (ASO). Here are some of the key challenges that fintech apps may face:

1. Compliance with regulatory requirements: Fintech apps often have to comply with strict regulatory requirements, such as Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. These requirements may impact the way that the app is designed, marketed, and described in the app store, which in turn can affect ASO efforts.

2. High competition: The fintech app market is highly competitive, with many established players and new entrants vying for users' attention. This means that Fintech apps need to be optimized for ASO to stand out from the competition and attract users.

3. Complexity of financial products: Financial products and services can be complex, and it can be challenging to describe them in a way that is both accurate and easy for users to understand. This can make it difficult to optimize app store listings for relevant keywords and to convey the value proposition of the app.

4. Security concerns: Security is a top concern for users of fintech apps, and any perceived security issues can quickly erode trust in the app. This means that Fintech apps need to be optimized for ASO to convey their commitment to security and to reassure users that their data is safe.

5. User education: Many fintech apps offer innovative financial products or services that users may not be familiar with. This means that the app's ASO strategy should focus on educating users about the benefits of the app and how it works.

To overcome these challenges, fintech apps should prioritize ASO as a critical component of their overall marketing strategy. This means optimizing app store listings for relevant keywords, creating compelling descriptions that highlight the app's unique value proposition, and ensuring that the app is easy to use and navigate.

To achieve the goal, of increasing user engagement, the founder team of the app entrusts a professional ASO team - ASO World to produce results through a paid user acquisition strategy.

App store optimization solution

App Store Optimization (ASO) is a set of techniques that can be used to optimize an app's visibility in the app store and attract more users. ASO can be used by fintech apps to improve user engagement and retention.

Here are some potential solutions for App Store Optimization (ASO):

• Conduct thorough keyword research
• Leverage customer reviews
• User retention and user experience

keyword research

Keyword research is a critical component of ASO. For Fintech apps, it's essential to identify the keywords that users are searching for when looking for financial products or services. This can help optimize app store listings to rank higher for relevant searches and attract more users. Appranking will show you them all for free.

We searched for a "fintech" to identify a list of competitors of our customer's app with Appranking.

Then we started to analyze the keywords lists of competitors, then we can determine the keywords list of our customer's app and start to rank the keywords.

You can choose keywords from any range based on your criteria. In general, the keyword search volume should be between 2000 and 8000, and the keyword data of the competing App should be analyzed using the keywords.

When working on App Store Optimization Services, it is important to carefully review this list of keywords to help you choose the best App Store keywords in Google Play or Apple App Store. Do you know how to find the best keywords for your app now?

App ratings & reviews optimization

Customer reviews can have a significant impact on ASO, as they influence the app's rating and visibility in the app store. Fintech apps should encourage users to leave reviews and respond to them promptly, addressing any concerns or issues that users may have

Appranking interface can monitor app ratings and comments in real time.

Users can be encouraged to leave feedback through in-app messages, push notifications, and email reminders. Users are more likely to leave feedback when they have a positive experience or encounter a problem. Remember to respond to user feedback, both positive and negative, in a timely and professional manner. This shows users that their opinion is valued and helps build trust and loyalty.

At the same time, user feedback can be used to identify areas where the app can be improved. This can help improve user engagement and retention by addressing user needs and preferences. Regularly monitoring your app's reviews and addressing negative reviews promptly can help turn dissatisfied users into loyal ones and improve your app's overall ratings and engagement.

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User retention and user experience

Many fintech apps offer innovative financial products or services that users may not be familiar with. To overcome this, providing user education and support is crucial to improving user retention in fintech apps.

What you can do to offer user education and support in fintech app:

• In-app tutorials: Offer in-app tutorials to guide users through the app's features and functionality. This can help users understand how to use the app effectively and improve their overall experience.
• Help center: Create a help center within the app that provides answers to frequently asked questions and troubleshooting tips. This can help users resolve issues quickly and reduce frustration.
• Live chat support: Offer live chat support within the app to help users with any issues they may encounter. This can provide users with immediate assistance and improve their experience.
• Video tutorials: Create video tutorials that demonstrate how to use the app's features and functionality. This can be particularly helpful for visual learners and can provide users with a more engaging learning experience.

Summary

The great results clearly illustrate how ASO optimization can help a mobile app get its success, and how our app promotion works can expand your app's traffic acquisition.

It's very important to get a helpful ASO tool for keyword research and strategically deploying value keywords in your app product page: it enables the app store to understand how you want to position yourself.

Thanks to the optimizations we made, our users' fintech app managed to increase its app's visibility in search (keywords working in metadata fields get more and better positions). This innovative, personalized ASO strategy resulted in more organic downloads for the app.

If you want to level up your app business and need support, we're always here.