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

According to a report by eMarketer, the number of people using Fintech Apps in the United States will reach 116.3 million by the end of 2021. This growth in usage highlights the importance of increasing DAU/MAU to remain competitive in the industry.

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.

* click the "Promote Now" above to maximize your app traffic with our app growth solutions.

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 focused on increasing the number of users who installed and activated the app. To do this, we ran targeted ads on social media platforms and partnered with popular financial blogs and websites to promote the app.

Any financial technology expert will tell you that a company's stickiness score represents its ability to add value to each visit. Every app has its own appeal, and increasing engagement begins with determining what active users are looking for. Simplify the account setup process to improve user onboarding. Never underestimate the value of convenience. Too many barriers between users and the features they seek will cause less motivated individuals to abandon the project.

Analyze user behavior to gain a better understanding of it. Every fintech expert knows the value of data. Your users are telling you what interests them and what they want to see more of.

User Retention

We found that a significant number of users were abandoning the app after the first few uses. To address this, we created personalized onboarding experiences for new users and sent targeted push notifications to remind users of the app's key features.

Personalize to meet the needs of each individual user. Personalize messaging, offerings, and services to speak to the customer's specific needs. Once you've gathered user data, tailor your app to their specific interests.

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.

Send push notifications, emails, or social media messages to re-engage lost users. Many former users may return if the right messaging is used.

⚡Related reading: Retargeting Strategies: How to Hack Your User Engagement with Creative UA Solutions?

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.

Maybe it's still too troublesome for you, let's learn more about how ASO World helped users' fintech app grow rapidly.

App Store Optimization

We optimized the app's metadata, including its title, description, keywords, and screenshots, to improve its visibility in the app stores. We also encouraged users to rate and review the app, which helped to increase its ranking.

Use app store optimization tools like Appranking to analyze and optimize the app's store listing for better visibility, conversion, and engagement. These tools can help track keyword ranking, download and revenue estimates, and competitor analysis.

Click "Learn More" to drive your apps & games business with ASO World app promotion service now.

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.