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Overview
Meet Skydo: A cross-border payments platform helping Indian SMEs and freelancers receive international business payments. Skydo makes global payments seamless, efficient, and cost-effective by setting up international bank accounts for its customers, offering zero FX margins and flat transaction fees. Founded in 2022 by Movin Jain and Srivatsan Sridhar, Skydo is the trusted global payments partner of 4000+ businesses across India. Skydo partnered with Draftt to beef up their content building capacities and to streamline their entire customer engagement funnel end-to-end.
The opportunity
Skydo has strong ToFU user acquisition in place backed by efficient sales and revenue management teams. Movin and Srivatsan, however, wanted to optimise the existing customer engagement processes even further - from making acquisition more efficient to improving customer activation and then retention. They wanted to address drop-offs across different stages in the user journey, with activation being a top priority as that was critical for customer success and revenue realisation.
Our approach
Responding to these needs identified, we collaborated with the Skydo team to unpack the problem statements in the product activation path. Our strategy involved understanding customer hesitations or roadblocks at each step and then designing content levers to overcome the same. Here’s how we did it:
- Needs assessment: We conducted detailed research, including interviews with existing customers, to identify challenges and opportunities within the activation process.
- Mapping user flows: We undertook a comprehensive mapping of the customer’s journey to better plan for content levers at each activation step.
- Product education and trust building: We redesigned existing email drip campaigns to more effectively guide users through the activation process, with timely nudges focusing on next steps involved. Additionally, we embedded educational content and video tutorials in these emails to highlight the ease and benefits of using Skydo.
- Feature highlights: We placed additional emphasis on encouraging users to try out custom features like 'invoice creation' to enhance their understanding and trust in the platform.
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- WhatsApp nudges: We introduced WhatsApp messages into the mix to experiment with an additional channel, providing real-time help.
- Intent confirmation: We launched a robust intent confirmation survey to continuously capture and analyse user feedback. This also helped us identify users who may no longer be interested in proceeding and why, allowing us to effectively allocate resources to assist those who need further guidance.
- Measurement and iterations: We set up all new communication campaigns on WebEngage to closely track and report on their performance. This helped us identify what was working and what wasn't, and to quickly iterate on the same.
The results
With these content levers in place, we not only helped Skydo achieve a significant increase in product activations but also enhanced user engagement and satisfaction.
Big wins for Skydo:
- Business outcomes
- 20% increase in overall customer activations
- 25% inactive users re-engaged
- Operating metrics
- 18% jump in open rates and CTRs for new email campaigns
- 14% improvement in time taken to complete activation steps
- 85% reduction in video and content production lead times
- Capability building
- Robust documentation of content production with clear SOPs
- Live dashboards for tracking performance metrics week-on-week
- Strong project management with weekly sprints and content calendars
These results underscore the significant strides Skydo has made in improving user engagement and operational efficiency with Draftt's support. And we're excited to keep the momentum going, reinforcing Skydo's position as a preferred platform for cross-border payments!