bunq Raises Paid Subscription Rates by 13% with Braze, Mixpanel, and Segment
When bunq needed a new customer engagement platform that could better personalize messaging across different touchpoints in the user journey and allow them to scale their customer engagement program, they turned to Braze and Braze Alloys technology partners Mixpanel and Segment, driving a 22% increase in click-through rates.
bunq is a fully mobile bank that gives consumers more power over their money. Since receiving their banking license from the Dutch Central Bank in 2014, they’ve made banking easier for users in 30 European countries. And because they’re paperless and entirely mobile, they do so with sustainability in mind.
As bunq expanded, they sought to optimize their user lifecycle journeys and adopt an engagement platform that could scale easily with their growing team. That’s when they switched to Braze.
Platform Limitations Led to Engagement Limitations
Prior to integrating Braze, the team at bunq found it difficult to implement campaigns with extensive, personalized user journeys. They often found it necessary to create workarounds in order to accomplish the results they wanted, which added an additional layer of difficulty when training new team members to use their previous customer engagement platform. bunq was also previously limited to messaging via email and push notifications and wanted a solution that would allow them to easily add new channels to their messaging strategy as their user base grew. Finally, bunq’s previous customer engagement platform required them to manually create different campaigns for each of the seven languages available in their app, which made it challenging to scalably personalize messaging based on where a user was in their unique journey.
Leveraging Data to Provide Personalized Experiences
In order to put their customer engagement efforts on a stronger foundation, bunq implemented both Braze and Segment, a customer data platform (CDP) and Braze Alloys technology partner, which unifies customer information and routes it to other tools in a brand’s tech stack. Segment receives engagement data from Braze via Braze Currents, a tool in the Braze platform that allows brands to automatically move data between Braze and other layers of their stack. That data and other user data collected in Segment is also seamlessly routed to Braze Alloys technology partner Mixpanel, a first-party data analytics tool, which allows bunq to analyze that data and better segment, target, and engage their users. Those analyzed results are then automatically sent back to Braze for a holistic view of their campaigns.
But the updates didn’t stop with data management. bunq also used Braze to add in-app messages (IAMs) to their messaging mix, making it possible to guide users more effectively within their mobile app and to deepen their engagement. In addition, the brand began leveraging Liquid personalization from Braze, which populates personalized data in customer-facing communications. Making use of this tool meant that bunq could create a single campaign that included variants for each of the languages they support in their app—supporting more scalable messaging—and further personalize their outreach based on user behavior.
What does that look like in practice? For example, when a user first installs and opens the bunq app, they receive onboarding communications and reminders via in-app messages, making them less likely to drop off without creating an account. Verified users are given a trial experience, which allows them to explore the app and gives them recommendations for how and where to navigate, while paying users are served messages and reminders to keep them engaged with the app.
“Braze really makes my life easier as a marketer because I can automate and standardize so much of the groundwork. By creating a library of Content Blocks our team can build campaigns like LEGO blocks instead of wasting time coding similar things over and over. In addition, the ability to include personalization and Liquid code means that we can send the same campaign to multiple cohorts of users, as each can receive a personalized message. Beyond this, I’ve really enjoyed building Canvases that can send our users down a personalized journey based on their behavior. Plus, with the Braze platform’s ability to have multiple variants and a control group, we are constantly testing and learning how to improve our campaigns.”
bunq’s Results: Higher Paid Subscription Rates
Since adopting Braze as their customer engagement platform, bunq’s click-through rate has increased by 22%. In addition, the email campaigns designed by bunq to confirm app activity have paid significant dividends, reducing the chances that a user opens a support ticket by 17% and improving paid subscription rates by 13%.
By upleveling their customer engagement technology stack and embracing in-app messages and Liquid personalization to make their user messaging more scalable, tailored, and impactful, bunq was able to provide a better customer experience while also seeing strong results. For more on how leading brands are embracing personalization to get more out of their customer engagement programs, check out our Overstock case study.