Bamboo doubled conversion rates: The power of multi-channel messaging
Meet Bamboo, an investment platform from Lagos, Nigeria. Their mission? To make investing simple, affordable, and accessible to all. As a dynamic startup, Bamboo juggles multiple audiences, an ambitious growth plan, and a need for a messaging automation tool that can keep up. Enter Customer.io.
A data-first messaging platform
Bamboo had a problem. They needed a data-driven messaging platform that could segment their diverse audience of investors, taking into account factors like investing experience, portfolio size, trading volume, and local market. The goal was simple yet ambitious: increase conversions through targeted campaigns.
Thanks to Customer.io, Bamboo centralized their data, enabling their marketing team to use it at will. They can now test channels and messaging, run segmented campaigns, and optimize their communication with segments to message the right audience at the right time for maximum impact.
One of Bamboo’s recent victories was reducing abandoned deposits—an investor deposits into their Bamboo account but doesn’t convert by investing their money. By targeting this group with relevant multi-channel messaging, Bamboo achieved a 12% reduction in abandoned deposits, and more than doubled their goal of 5%!
“With Customer.io, we tailor our messaging to our audience. We don’t talk down to experienced investors, and we take time to explain complexities to newcomers. We’re maximizing impact.”
— Ugo Iwuchukwu, Head of Marketing & Partnerships, Bamboo
Driving conversions across channels
Knowing that a multi-channel approach was crucial for engaging audiences and driving conversion, Bamboo leveraged Customer.io to reach their customers beyond email.
Since 70% of Bamboo’s users are first-time investors, it’s critical to educate them about investing. By creating multi-channel campaigns that included in-app, SMS, and push, they sent more educational content to their key audience.
Bamboo found that new customers and even seasoned investors quickly dismissed push notifications. By adding in-app messages into the mix, Bamboo ensured their messaging reached their customers, boosting conversion rates.
Bamboo’s newly developed multi-channel strategy drove a year-over-year increase in conversion rates, from 15% in 2022 to over 30% in 2023.
“Messaging frequency is key for our strategy. We can’t email our customers daily, so increasing frequency with a multi-channel strategy is how we can scale message volume. The conversion rates prove that strategy is working.”
— Ugo Iwuchukwu, Head of Marketing & Partnerships, Bamboo
Strategic support along the way
Working with Customer.io, Bamboo found more than a service provider—they found a strategic partner. As a lean startup, Bamboo often needed guidance on best practices and troubleshooting. The Customer.io team became an extension of Bamboo’s team, supporting their messaging strategy and business growth.
When Bamboo faced deliverability issues with their campaigns, Customer.io’s world-class technical support team was there to help them, ensuring they could keep their messaging on point and their growth on track.
“The caliber of account managers is exceptional. They care about your business and are always there to help, even when it’s an issue that Bamboo created.”
— Ugo Iwuchukwu, Head of Marketing & Partnerships, Bamboo
Customer.io has enabled Bamboo to segment messages, diversify channels, and build a true partnership that is maximizing the impact of their marketing. Discover how Customer.io Journeys can transform your marketing with multi-channel messaging today.
Discover the power of Customer.io Journeys in your multi-channel marketing today.