Imagine signing up for a fintech app only to feel lost after registration. You’re left wondering how to add funds or why KYC is unnecessarily too long, and you strongly desire to drop off and get other things done. Such is the feeling when activation strategies aren’t implemented.
This uncertainty highlights why activation in marketing is essential. Activation refers to the moment users experience value from a product, transforming them into active participants. Unfortunately, many users drop off shortly after onboarding, missing out on the chance to become engaged, long-term customers.
Event-triggered marketing addresses this challenge. By automatically engaging users at pivotal points in their journey—such as registration or the first transaction—fintech companies can increase activation rates and build customer loyalty. Personalized, automated campaigns motivate users to take meaningful steps toward becoming active and loyal customers.
What is Event-Triggered Marketing?
Event-triggered marketing involves sending automated, personalized campaigns based on specific user actions or inactions. These campaigns nudge users toward key milestones—such as completing KYC, making their first deposit, or performing a transaction—helping activate them early in the customer journey.
Why Activation in Marketing Matters for Fintech Companies
In fintech, customer activation ensures that users experience the platform’s value early, reducing drop-off rates. Event-triggered marketing supports activation by encouraging users to engage meaningfully at the right time.
Examples of Event-Triggered Marketing in Fintech
1. Welcome Messages
- Triggered by: First login or registration.
- Purpose: Engage new users early and introduce the app’s core features.
Example:
When users register for apps like Cowrywise or PiggyVest, they receive automated welcome messages encouraging them to explore key features, such as setting savings goals or linking payment methods.
Sample Message:
“Welcome to PiggyVest! Start your journey by setting your first savings goal or exploring our investment plans.”
Example of an automated message
This warm engagement builds familiarity with the platform and encourages users to take the first step, such as setting goals or linking a bank account. These welcome messages often include tutorials or personalized next steps based on the user’s profile, reducing confusion and helping them explore relevant features immediately.
2. Deposit Reminders
- Triggered by: Adding a payment method but not making an initial deposit.
- Purpose: Encourage users to activate savings or investments by depositing funds.
Example:
If a PiggyVest user links a payment method but doesn’t deposit funds within a few days, they receive a reminder like:
“You’re one step away! Deposit any amount today to start earning interest.”
Fintechs may also personalize the timing of these reminders, such as sending messages when users are most active or suitable before salary payments. This ensures higher engagement and conversion.
3. Inactivity Campaigns
- Triggered by: User inactivity for a defined period.
- Purpose: To reactivate dormant users through incentives and new feature updates.
Example:
PiggyVest can reactivates users by sending personalized notifications saying:
“We’ve missed you! Here’s what’s new since your last visit.”
Inactivity campaigns sometimes include limited-time offers or incentives, such as small cashback rewards for completing a transaction within a set time. This approach works incredibly well to bring back users who initially showed interest but failed to maintain engagement.
These examples highlight how timely, personalized communication can move users along their customer journey, increasing the likelihood of activation and long-term retention. Whether welcoming users, nudging them to take essential actions, or reactivating dormant accounts, event-triggered campaigns foster stronger customer connections and encourage consistent engagement.
Building Effective Event-Triggered Campaigns for Customer Activation
Identifying critical touchpoints in a customer’s journey allows fintech firms to engage users more effectively. Here are essential events that serve as activation triggers:
1. First Login or Registration :
Purpose: To encourage users to explore features and take immediate action, such as setting up savings or investment goals.
Example: A fintech app may send a welcome email within minutes of the first login, introducing users to budgeting tools and goal-setting options.
2. Adding a Payment Method or Completing KYC
Purpose: Completing essential tasks, like adding payment information or passing identity verification, is crucial for user activation.
Example: Apps like Cowrywise send congratulatory messages and highlight new features unlocked once KYC is complete, reinforcing engagement at an early stage.
3. First Transaction or Money Transfer
Purpose: Celebrate the user’s first action, such as depositing, to reinforce positive behavior and encourage more frequent use.
Example: A cashback reward following the first transaction motivates users to continue engaging with the platform, driving habit formation.
How to Build Effective Event-Triggered Campaigns for customer activation
Designing successful event-triggered marketing campaigns requires a strategic approach focusing on personalization, timing, and seamless automation.
1. Map Key Moments in the Customer Journey
Identify the most critical touchpoints where user actions—or inactions—can influence long-term engagement. These may include milestones such as first login, KYC completion, or repeated transactions. Mapping these moments ensures that campaigns align with user behavior.
2. Craft Personalized Messages for Each Event
Personalization is critical to driving engagement. Use customer data to tailor messages based on individual behaviors. For example:
Welcome Messages: “Hi [First Name], welcome to [App Name]! Set your first savings goal today and take control of your finances.”
Abandonment Reminders: “We noticed you started adding a payment method but didn’t finish. Let’s complete that step so you can start saving!”
3. Use Automation Tools and Platforms
Implementing automation platforms ensures the timely delivery of event-triggered campaigns. Popular tools include:
HubSpot: Automate email workflows and customer journeys.
Braze: Offers personalized in-app messaging and push notifications.
Intercom: Provides real-time messaging based on user activity within apps.
These platforms allow fintech firms to scale their campaigns efficiently, ensuring every user receives relevant communication immediately.
Measuring Success of Event-Triggered Marketing Campaigns for customer activation
Fintech companies must establish specific metrics to evaluate the effectiveness of their event-triggered marketing campaigns. Typical metrics include activation rates, engagement levels, conversion rates, and retention statistics. Tracking these indicators can reveal how many users complete desired actions after receiving triggered communications and whether those users remain active over time.
Additionally, metrics like customer lifetime value (CLV) and return on investment (ROI) can help assess the long-term impact of these marketing efforts. A more nuanced approach might involve A/B testing different campaign strategies to identify which messages resonate best with users, providing insights into refining future initiatives.
Personalization for Different User Segments
Effective personalization is vital to maximizing the impact of event-triggered marketing. Fintech firms can segment users based on demographics, behaviors, and preferences. Understanding these segments allows companies to tailor messages that resonate more deeply with specific user groups. For example, first-time savers might receive different guidance compared to seasoned investors. Data-driven insights like user interaction history and engagement patterns help craft personalized nudges. However, achieving this level of personalization requires robust data management and analysis capabilities and an understanding of user needs and pain points.
Challenges in Implementing Event-Triggered Marketing Strategies
While event-triggered marketing holds significant promise, fintech companies face several challenges during implementation. One major hurdle is data privacy and compliance, particularly with regulations like GDPR or CCPA, which dictate how user data can be collected and utilized.
Ensuring campaigns comply with these regulations while still being practical can be complex. Additionally, integrating automated marketing platforms with existing systems may pose logistical challenges, requiring investment in technology and resources. Finally, creating a seamless customer experience where messages feel helpful rather than intrusive remains a delicate balancing act that necessitates ongoing adjustments based on user feedback and engagement trends.
Addressing these gaps will enable fintech firms to leverage event-triggered marketing more effectively, driving higher activation and long-term user engagement. If you feel lost or unsure whether to add funds, complete your KYC, or explore features, this uncertainty is a common reason why customer activation—when users derive value from the product—becomes a significant hurdle for fintech companies. Many users drop off shortly after onboarding, leaving the potential for long-term engagement untapped.
Event-triggered marketing offers a solution. Fintech firms can increase activation rates by automatically engaging users at pivotal points in their journey—such as after registration or their first transaction. These personalized, automated campaigns encourage users to take the next step toward becoming engaged, loyal customers.
Case Study: Successful Activation Campaigns in Fintech
PiggyVest’s approach to event-triggered marketing highlights the power of automation and personalization. The platform sends timely reminders encouraging users to complete tasks such as adding funds to their accounts or locking savings in the Safelock feature.
If a user links a payment method but doesn’t make an immediate deposit, PiggyVest sends a gentle nudge via email or app notification, suggesting the benefits of starting with even a tiny amount. These personalized prompts help maintain user momentum during the critical onboarding, leading to higher activation rates.
As a result, PiggyVest has grown from 53,000 users in 2018 to over 4.5 million active users in 2023, with event-triggered campaigns playing a vital role in this growth.
Conclusion and Key Takeaways
Event-triggered marketing offers a powerful way for fintech companies to activate users by engaging them at pivotal moments. By leveraging automation and personalization, fintech firms can ensure users receive timely, relevant communication that encourages further engagement. Want to build personalized, automated activation campaigns for your fintech platform? Partner with us today to design event-triggered flows that drive user activation and long-term engagement.
