On November 30, MartechTalk07 - Webinar: Optimizing Fintech mobile user growth strategy was successfully held with the participation of experts from Omega Martech, Omega Media, Airbridge, CleverTap and Cho Tot on the problem of implementing user growth strategy, especially for Fintech businesses.
Omega Martech would like to thank host Quang Huy and speakers Roi Nam, Mai Vo, Minh Bui and An Dang as well as media partners Advertising Vietnam and Brands VietNam for helping make the webinar a great success.
The program includes the following main topics:
- How is Fintech app user growth strategy changing?
- What is the plan for app user growth of Fintech businesses?
- The problem of implementing and optimizing user growth strategies.
Fintech Market in Vietnam
According to Mr. An Dang, Vietnam is a young Fintech market but has shown strong growth in recent years. According to some studies, Singapore, Indonesia and Vietnam are the three leading drivers of growth for the Southeast Asian Fintech market. In 2022, the number of Fintech companies in Vietnam has reached over 200.
The main segments in the Fintech industry in Vietnam include:
- Digital Payment – this is the main segment, accounting for the highest percentage of all segments.
- Personal Finance (Digital Asset Management, Money Transfer/International Remittance)
- Insurtech
- B2C financial services market (Banking and credit, Insurance), etc.
How has Fintech changed in Vietnam?
Mr. Minh Bui said that the current trend of Fintech applications is to invest in developing into a Platform. In the business context, Platform is understood as a place to coordinate businesses, allowing them to provide their products/services on this platform, and the Platform itself does not own any specific product. This is a place to facilitate dealing between businesses/suppliers and buyers, with a commitment to certain services, while minimizing gaps/friction to optimize user experience.
Developing into a Super App will make the user experience more seamless and convenient. However, Fintech businesses still need to focus on developing Unique Selling Points among the countless features of the Super App to bring the best experience to users.
What role does MMP play in user growth strategy?
Mr. Roi Nam, representative of Airbridge, shared that the problem of a business when running a marketing campaign is the budget limitation. It is necessary to measure the effectiveness of the indicators to be able to allocate the budget reasonably. This is also the role of a Mobile Measurement Partner.
The question is, while many Fintech companies have a very strong tech team to effectively measure advertising channels, why are there still Mobile Measurement Partners (MMPs) on the market? The reason is because:
- User data comes from multiple devices, MMP will connect multiple channels, multiple devices, multiple sources so that the data is no longer fragmented.
- MMP can access large data warehouses, which helps to review and prevent fraudulent data, thereby allowing businesses to save budget by allocating budgets to more suitable channels.
- Finally, MMP strictly adheres to international standards for data security, with certifications such as GDPR and CCPA.
Therefore, in order to build an objective and effective user development strategy, Fintech businesses should still cooperate with a 3rd-party on measurement.
Retain users with Marketing Automation platform
According to Ms. Mai Vo, representative of CleverTap, after getting users to download the app, interacting and retaining them also faces many obstacles. This is when a Marketing Automation platform begins to play its role. Analyzing user behavior data helps businesses build a specific and intuitive customer journey. From here, businesses can visualize each user touchpoint more clearly, knowing what they need and want. These analyses allow businesses to make action decisions to retain users more quickly and effectively.
User growth is increasingly becoming one of the important strategies of every business in the digital age. The Fintech market in the current strong development stage in Vietnam is both an opportunity and a challenge for Fintech businesses. Businesses need to have a comprehensive and objective view, at the same time specific and clear about the development trends of the market to be able to develop sustainably.
Send email to marketingteam@omegamartech.com if you want to review the entire program content.
