Improving the customer acquisition rate using personalised targeted promotions
Yuu
We designed a solution to deliver personalised targeted promotions at scale which improved customer acquisition rates.
Referrals converted into new customers
To achieve personalised offers once a campaign launches using a scalable experimentation framework.
Average increase in new customer acquisition rate compared with historical campaign.
Background
yuu Rewards Club Singapore is a platform created by minden.ai, a tech venture founded and backed by Temasek. It allows consumers to earn loyalty currency through various promotional offers across different stores and brands. They wanted to scale the number of personalised promotions they could offer to their 1m+ customer base without having to run inefficient A/B tests for every category.
Solution
To effectively scale promotional campaigns and target the right audience with the right offers, we developed a solution built on a, widely-used personalisation framework. Compared to A/B testing, it runs trials and targeting simultaneously to reduce result delivery time and campaign opportunity cost. The team can now tailor promotions by adapting to business objectives at scale (e.g. boosting user spend over acquiring new users). And with the built-in autonomy, this solution is less resource-intensive making it more maintainable.
Impact
Since adopting this solution, Minden.ai has increased their ROI on personalised offers by an impressive 2.5 to 3.75 times, and boosted customer acquisition rates by up to 40-54%. They can launch personalised customer acquisition campaigns faster through their yuu app, with an improved performance for their partner brands. Minden.ai is now exploring how to adapt the solution to meet other business objectives such as sales uplift for their brands.
“Faculty were crucial in helping create a scalable solution to personalised promotions that brings more value to our partner brands and differentiates us from our competition.”