4 min read
Stori improves the customer experience with interactive WhatsApp messaging
Stori identified that a few of its processes were difficult for their customers to navigate, such as making changes to user profile or access account information.
With Braze, Stori was able to improve the experiences for customers, allowing them to update their address in one click within a WhatsApp message. They also launched a WhatsApp campaign that gave customers easy access to important account information, like balance and payment due dates.
By employing a targeted, personalized communication strategy across multiple channels, Stori not only improved its customer relationships, but also reinforced its position as a leader in financial inclusion in Latin America. They were able to achieve a significant uplift in conversion rates while streamlining operations.
INDUSTRY
PRODUCTS USED
BY THE METRICS
3X
More engagement with WhatsApp vs push notification. (Response rate)
26%
Higher conversion vs in-app process (Users that update their address)
Stori, a trailblazer in the Latin American Fintech space, offers digital financial solutions to those underserved by traditional banking. With a mission to empower people in Latin America, Stori is committed to breaking the conventional boundaries of banking, with their 99% credit acceptance rate and a 15% yield on deposit accounts.
Stori's success is in its customer-centric approach, designing products hand-in-hand with its users. This approach has been instrumental in shaping their customer engagement strategy, which is focused on listening to user feedback, understanding their needs, and solving their pain points. It's this commitment to its customers that Stori believes will cement its position as the leading fintech company in Latin America.
Driving Financial Inclusion with Innovative Engagement
When looking to improve their customer engagement program, Stori evaluated several solutions before choosing Braze for its comprehensive channel support and no-code tools that allow them to configuren complex flows without technical assistance. They initially started with email, SMS, in-app messages, and push notifications, before expanding to WhatsApp, which is very popular with customers in Latin America. Prior to Braze, Stori was using other WhatsApp providers, but they weren’t reliable when sending campaigns to large audiences and lacked journey orchestrated tools. Stori switched to Braze for its cross-channel capabilities, reliability, and orchestration features.
Additionally, Stori uses Braze Alloy tech partner Amplitude to monitor analytics, enabling a data-driven approach to continously optimize campaign performance.
Improving the Customer Experience With WhatsApp
While Stori speaks to customers at all stages of the lifecycle, for their current goals, their current focus is on acquisition and retention. For their initial WhatsApp campaigns with Braze, they identified two pivotal points in the customer journey: An address update campaign for credit card replacements and a chatbot designed to turn a potentially frustrating payment reminder into a fun and entertaining messaging experience.
For the first campaign, Stori segmented its audience by identifying users who needed to update their address information for upcoming credit card replacements. From there, they were able to send a simple WhatsApp message to ask for the information and get the user profile updated. By using WhatsApp, a more personal and high touch channel, Stori achieved high conversion rates and can better serve customers.
For the second campaign, Stori was focused on how to transform a challenging communication into an opportunity to connect with their customers. The campaign's success hinged on a thoughtful execution strategy, which was orchestrated using Braze Canvas, our no code journey builder. Using webhooks and Liquid logic, Stori passed customer data and quick reply responses from Braze to their chatbot tool to facilitate an interactive chat within WhatsApp. This allowed them to create a payment reminder that also provided personalized greetings and fun facts. They A/B tested content and timing to maximize engagement and response rates, as well as ensure the messaging hit the right tone.
With Braze, Stori was able to quickly and easily set up both campaigns from ideation to iteration with technical resources only needed for the chatbot. They’re excited to expand both approaches and continue to deepen their commitment to their customers’ success with their customer engagement strategy.
Braze has been key to offering our customers creative communication experiences with the right strategy to the right audience. The Braze team has helped us to devise these experiences and take our engagement to the next level.
Significant Strides in Conversion and Customer Satisfaction
Stori's targeted campaign delivered impressive outcomes that underscored the effectiveness of their customer-centric approach. The address update campaign sent with WhatsApp significantly improved conversion rates, while the innovative payment reminder chatbot transformed a challenging message into an engaging, interactive conversation. Ultimately, they were able to achieve a better customer experience that increased retention rates—all while streamlining operations and improving the overall efficiency of their efforts.
Key Takeaways
Take a customer-centric approach: Stori's success lies in putting its customers first. By understanding their customers' needs and focusing on solving their pain points, Stori is able to improve engagement and build long-term relationships.
Better doesn’t mean harder: With Braze, Stori was able to easily ideate, launch, and test campaigns to ensure they were meeting their challenges successfully—without technical resources.Look for opportunities to have a conversation: With WhatsApp, Stori was able to turn a potentially negative customer interaction into an engaging one by using two-way messaging.
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