How We Help A Fintech App Win +30% User Acquisition by Improving DAU & MAU?

Metrics such as revenue are frequently used to measure growth, but retention is an essential key indicator as well. Our Fintech App Engagement Benchmark Report found an average stickiness quotient of 22% for fintech apps - which outperforms other app categories and signifies fintech's staying power.

But how do you measure stickiness? Calculate the average number of active users per day and month, then divide the daily active users (DAU) by the monthly active users (MAU) to determine user engagement. To calculate your percentage, multiply the total by 100.

Consistently high scores indicate the app's ability to retain users, which has a significant impact on a company's projected and actual growth. Low stickiness, on the other hand, can indicate a misalignment between a fintech app and its users, which could lead to future losses. Fortunately, a company can increase stickiness by implementing tried-and-true strategies.

You'll dive into the following topics:

• Why it is important for a fintech app to improve its Daily and Monthly Active Users
• Case study: How we help a fintechapp boost its Daily and Monthly Active Users

 

Why it is important for a fintech app to improve its daily and monthly active users

Improving daily and monthly active users (DAU/MAU) is critical for the success of a Fintech App. Here are some industry data and trends to help app marketers to get to know it deeply:

• Fintech app usage is growing
• User acquisition is getting harder
• Personalization is key
• Mobile is king
• Security is critical

Fintech app usage is growing

In 2023, the worldwide market size for financial technology (fintech) was valued at nearly $226.71billion.Forecastsindicatethatfrom2024to2032,themarketis\; expectedto\; expandatacompoundannualgrowthrate(CAGR)of16.8,\; reaching$917.17 billion by the year 2032.

User acquisition is getting harder

As the Fintech industry becomes more crowded, user acquisition is becoming increasingly challenging. Fintech Apps need to focus on retaining their existing users and improving engagement to remain competitive.

Personalization is key

Fintech Apps that provide personalized experiences for their users are more likely to see higher DAU/MAU figures. Users expect tailored experiences that meet their specific financial needs, and Fintech Apps that can deliver on this expectation will likely see higher user engagement.

Mobile is king

Mobile usage is on the rise, and Fintech Apps need to ensure their apps are optimized for mobile devices. Fintech Apps that offer a seamless mobile experience will likely see higher DAU/MAU figures.

Security is critical

With the increasing number of cyber threats, security is crucial for Fintech Apps. Users expect their financial data to be secure, and Fintech Apps that can deliver on this expectation are more likely to retain their users and attract new ones.

Case study: how we help a fintech app boost its DAU & MAU

Improving app's daily and monthly active users is the dream of many app owners. It's hard and relies on a effective strategy. We'll kick off the topic by sharing the story of how we quickly Improving app's DAU & MAU for a user's fintech app.

Results:

Our efforts to boost user acquisition, retention, and engagement resulted in a significant increase in daily and monthly active users. Here are the results:

• User Acquisition: We saw a 30% increasein the number of new users who installed and activated the app.
• User Retention: We reduced the number of users who abandoned the app after the first few uses by 25%.
• User Engagement: We increased the average time spent on the app by 40%, and the number of transactions made on the app increased by 35%.

App story:

Our client is a Fintech App that offers financial services to individuals and small businesses. The app had been on the market for a year and had seen some success, but its user base was not growing at the desired pace. Our task was to boost the app's daily and monthly active users.

App store optimization(ASO) solution:

After conducting market research and analyzing the app's user data, we identified 3 key areas for improvement:

User Acquisition

We started by utilizing ASO tools to conduct extensive keyword research, identifying high-traffic, low-competition keywords that are most relevant to the FinTech sector. By analyzing competitor keyword strategies, we found gaps and opportunities to capture a wider audience.


ASOWorld App Intelligent Diagnostic service review and revamp the app's title, description, and other metadata elements to ensure they are fully optimized for the selected keywords. This will not only improve search visibility but also enhance the likelihood of conversions from views to installs.


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To give an immediate boost to the app's ranking for specific keywords, our client employed keywords install. The service has drived targeted traffic to the app and improved its ranking for those keywords, leading to organic growth in user acquisition.



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User Retention

Optimized Onboarding Experience: The app refined the onboarding process to make it as smooth as possible. Using insights from ASOWorld, our client can understand where users may be dropping off and make necessary adjustments.

Push Notifications & Re-engagement Campaigns: Implementing personalized push notifications and re-engagement campaigns can remind users of the app's value and prompt them to return. This strategy is based on user behavior data to target users with relevant and timely content.

Ratings and Reviews Strategy: With ASOWorld's ratings and reviews service, the app can boost the social proof and trustworthiness, which is critical for retaining users. Encouraging positive reviews and promptly addressing any concerns will contribute to a better user experience and higher retention rates.

💡 Expert Tips: Reviews that naturally include keywords related to the FinTech app can help improve the app's search visibility within the app stores.

User Engagement

We aimed to increase user engagement by adding new features that would appeal to our target audience. We added budgeting tools, investment advice, and a rewards program to incentivize users to use the app regularly.

Gamification can be used to increase engagement. Rewarding users for specific actions fosters a sense of accomplishment and results in a positive emotional connection to the brand. As a result, users will be drawn to your competitions, levels, or rewards.

Our ongoing ASO services will ensure that the app's store presence remains fresh and relevant. Regular updates to keywords, screenshots, and feature listings can keep the app appealing to new and existing users alike.

By focusing on user acquisition, retention, and engagement, we were able to help our client's Fintech App increase its daily and monthly active users. Our targeted advertising campaigns, personalized onboarding experiences, and new features resulted in a significant increase in user engagement and usage of the app.

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Conclusion:

In conclusion, the Fintech industry is growing, but user acquisition is getting harder. Fintech Apps need to focus on retaining their existing users and providing personalized experiences to remain competitive. Mobile optimization and security are also critical factors for improving DAU/MAU figures.