BANKING & FINANCE | PERSONALIZATION

How Beem Experienced a Swift Migration with MoEngage and a 38% Uplift in SMS Click-through Rates

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50 Days

To Complete End-to-end Migration

38%

Uplift in SMS CTRs

Beem

Beem is a San Francisco-based AI fintech startup aiming to make life more affordable. Using AI, Beem helps 100 million US households save $2000 annually by reducing financial losses from personal and financial mistakes. The mobile app offers subscription bundles starting at 99¢ per month, offering services such as early access to verified deposits, job loss protection, supplemental health insurance, car insurance, personal loans, high-yield savings accounts, tax filing, life insurance, and so much more. Beem’s comprehensive offerings help customers manage their finances more effectively.

The Challenge

The Beem team initially managed all customer communications internally, through their backend systems. Eventually, they transitioned to a third-party martech tool and adopted multiple points solutions for their communication channels such as email, SMS, push notifications, and in-app notifications. However, this setup wasn’t favorable for the needs of a rapidly growing fintech startup, like Beem.

Why did Beem need a platform like MoEngage?

The previous customer engagement tech stack did not provide the comprehensive capabilities the Beem team needed, such as unified customer profiles and advanced analytics.
Using the previous martech stack, Beem faced limitations in sending highly personalized communication at scale to different customer cohorts.
Having multiple channel providers led to fragmented data, and Beem couldn’t get a 360-degree view of its customers or provide seamless communication.
Beem’s martech stack became too complex, making managing and optimizing marketing efforts difficult.
Beem needed to revamp and modernize their workflows to provide better customer experiences and stay competitive.

The migration to MoEngage was incredibly smooth with zero ambiguity. The process was well-managed with clear task assignments and timelines for each SPOC. MoEngage's capabilities met our expectations, especially Sherpa’s dynamic communication feature, which has been a game changer. I also appreciate how we can leverage MoEngage as a product analytics tool. Overall, the experience has been highly positive, and I would recommend MoEngage to anyone looking for a robust martech solution.

Rishabh Kumar

Associate Product Manager, Beem

The MoEngage Solution: Swift Migration & Customer Support

MoEngage helped Beem address these challenges effectively and provided additional features and customer support that helped their team execute engagement campaigns efficiently.

Beem experienced a seamless integration process with MoEngage that took just 50 days. MoEngage’s Professional Services team offered transparency in terms of timelines provided, a clear POC, using project management tools, and thorough product training. This was in contrast to their previous engagement solution, on which it took Beem more than three months to migrate, and that too with limited customer support.

Features & Capabilities

Unified Customer Profiles: With MoEngage, Beem could unify customer data from various touchpoints (such as app usage, website visits, and email clicks) into a single system, giving them a 360° view of its customers' behaviors and preferences. This helped to drive better decision-making based on actionable insights and an enhanced customer engagement experience.
Cross-channel Messaging: Beem used MoEngage to execute well-integrated omnichannel marketing campaigns such as sending Everdraft withdrawal campaigns to eligible customers across email, SMS, and push notifications.
Personalization at Scale: MoEngage's robust infrastructure enabled Beem to deliver personalized messages to customers based on their behavior, preferences, and lifecycle stage, resulting in stronger relationships and increased customer loyalty.
AI: Using Sherpa, MoEngage’s AI engine, Beem could reach the right customers with the right messaging on the right channel and at the right time.
Automation: The migration to MoEngage simplified, modernized, and automated workflows, accelerating the engagement process and reducing the time from ideation to campaign execution. This reduced the marketing team’s dependency on the tech team and also freed them to focus on more strategic initiatives.
Real-Time Analytics & A/B Testing: By integrating MoEngage, Beem gained access to real-time analytics and capabilities such as A/B testing, which allowed them to course correct in a proactive manner and send marketing and transactional messages accurately.
Data Security and Privacy Compliance: MoEngage's platform is engineered with a rigorous focus on high data security standards and compliance with GDPR and CCPA regulations, providing Beem with the required security and compliance framework.