Engagement & Retention project | Groww

Know your users, what they value the most and define who is your active user.

Core Value Proposition

Investing made simple, accessible, and trustworthy for Indians through a mobile-first, paperless experience.

Groww’s core value lies in democratising financial investing by allowing users to invest in mutual funds, stocks, FDs, and more with zero paperwork, transparent data, and simple UI/UX. The standout elements are:

• Zero Account Creation & Maintenance Charges
• Zero-commission investing in direct mutual funds.
• Simplified onboarding: Fully digital KYC and bank linking.
• Powerful, yet minimal interface for stock trading with easy-to-understand charts and insights.
• Cross-product expansion into FDs, US stocks, SIPs, and Gold.

This is in stark contrast to traditional brokers which are either offline, complex, or intimidating to new investors.

📱 User Experience

Groww’s user experience is built around simplicity, trust, and clean design, which is critical in a low-trust category like finance.

• Clean, no-clutter interface to appeal to new and retail investors.
• Trust-building elements: secure login, KYC, SEBI registration, transparent info.
• Dynamic portfolios and tracking (Mutual Funds & Stocks in one place).
• Cross-promotion of investment types once user is active in one.

🔁 Natural Frequency

Key driver of frequency: stock price tracking, portfolio value monitoring, and investing nudges (e.g., SIP dates, IPO updates, Dividend payouts).

📊 Engagement Framework

Groww’s engagement is based on investment behavior and portfolio expansion.

1. Depth = Product Adoption

• No. of asset classes adopted: User starts with MF, then adds stocks, FDs, Options etc
• Avg. portfolio value held: Stickiness improves as ₹ invested grows.
• SIP count: No. of active SIPs is a strong retention lever.

2. Breadth = Feature Usage

• Use of features like watchlists, stock filters, SIP calculators, blog content, IPO tracking.
• Education tools and Groww Digest consumption.

3. Frequency = No of time user logs in

• SIP reminders
• Dividend updates
• Market alerts
• Order executions

For Groww the depth & frequency framework works the best for users to experience the fullest potential of the app and their value prop will increase as they increase the time & money spent on the app.

Primary Lever: Depth

• Directly correlates with revenue and LTV: More asset classes = more transactions = higher revenue per user.
• Signals user trust: Users won’t diversify financial holdings across your platform unless they trust it.
• Stronger predictor of stickiness: A user with a growing portfolio and multiple SIPs is less likely to churn, even if they log in less often.
• Long-term moats: Portfolio size and product adoption build inertia — moving becomes a pain.

Secondary Lever: Frequency

• Drives re-engagement loops: Timely reminders and alerts keep Groww top-of-mind.
• Feeds Depth: Higher frequency often leads to trying new asset classes or tools.
• Supports habit formation: Starts with curiosity for new users to build a financial habit.

🟢 Who is an Active User?

Any user who has completed onboarding, invested in at least one asset (MF or stock), and logs in at least once every 2 weeks to track, transact, or plan.

Alternate definitions by segment:

• Mutual Fund User: At least 1 SIP running, logged in in last 30 days.
• Stock User: Placed a trade in the last month or visited stock screen 5+ times.
• New User: Finished onboarding + viewed investment suggestions.

📌 Summary:

ICP based segmentation:

Engagement Based Segmentation:

Advanced Segmentation (based on RFM Model)

Engagement Campaigns:

🎯 Campaign 1: "SIP Hero" – Activation & Habit Building

• Segmentation: SIP-First Professionals with KYC done, no SIP started within 7 days
• Goal: Convert new users to initiate their first SIP
• Pitch/Content:
  “Your future self will thank you. Start your first SIP in just 2 minutes with Groww’s zero-commission platform.”
• Offer: ₹100 cashback on first SIP (min ₹500), or SIP badge milestone
• Frequency & Timing: Day 3, Day 5, Day 7 (if still inactive) – via email + push
• Success Metrics: SIP initiation rate, D7 retention, cost per SIP started

🎯 Campaign 2: "Portfolio Pulse" – Mid-Funnel Retention

• Segmentation: Active SIP users who haven’t logged in for 15+ days
• Goal: Re-engage passive SIP users to drive app usage and upsell
• Pitch/Content:
  “Your portfolio is growing — let’s check in. See how your SIPs performed this month and what’s trending now.”
• Offer: Portfolio milestone badge, invite to portfolio webinar
• Frequency & Timing: Once/month on SIP due date + 3 days later
• Success Metrics: Session reactivation rate, portfolio view rate, upsell to new products

🎯 Campaign 3: "Groww Nudge for Beginners"

• Segmentation: New-to-Market Millennials with no investment after 7 days
• Goal: Reduce first-week churn and drive first investment
• Pitch/Content:
  “Not sure where to begin? Start with a handpicked beginner SIP or use our ‘Safe Start’ feature to invest safely.”
• Offer: "Invest ₹500 & get ₹100 cashback", access to beginner learning course
• Frequency & Timing: Day 2, 5, 9 — push + in-app + WhatsApp (if opted)
• Success Metrics: % of users who invest within 10 days, Day 30 retention, click-through rate

🎯 Campaign 4: "Power Trader Tools Unlocked"

• Segmentation: DIY Power Traders using Stocks but not Options/Alerts
• Goal: Deepen engagement through feature adoption (alerts, smart orders)
• Pitch/Content:
  “Level up your trades — unlock Groww Alerts & Smart Orders to never miss a price point again.”
• Offer: Early access to advanced tools, leaderboard competition
• Frequency & Timing: Weekly (Tue & Fri), after 5 trades without alerts
• Success Metrics: Feature adoption rate, frequency of logins, product expansion

🎯 Campaign 5: "Regional Onboarding Assist"

• Segmentation: Aspiring Rural Investors who installed but dropped off during onboarding
• Goal: Reduce involuntary churn by improving onboarding completion
• Pitch/Content (vernacular or Hinglish):
  “Shuru karna hai aasaan. Aapke liye Groww app ab Hindi mein – KYC karaayein sirf 3 minutes mein.”
• Offer: Assisted onboarding via phone support or video call, ₹50 bonus post-KYC
• Frequency & Timing: Day 1 (drop-off), Day 3, Day 6 – SMS + Call + WhatsApp
• Success Metrics: KYC completion rate, Day 7 activation, CAC from rural cohort

Figure out the retention data for your product. If you don't have access to the same, begin by adjusting the industry standards. Plot down the data and bring to life your retention curve. Draw out observations and insights from the same.

What is causing your users to churn?

Go back to your user insights and figure out the number one reason of churn by listing down all the factors.

Retention Curve:

Estimated Retention Curves for Groww by ICP

Below is the full breakdown of how we arrived at each ICP’s retention curve:

Adjustments by ICP

Each ICP’s multiplier is the sum of these factor-level adjustments:

ICP Multipliers

📈 Resulting Retention Curves

The chart above shows each ICP’s estimated retention at key intervals (Day 0, 1, 7, 30) after applying their respective multipliers to the baseline fintech benchmarks.

Key Insights:

• DIY Power Traders have the highest early and mid-term retention (Day 1 ≈ 34.8%, Day 30 ≈ 13.3%), driven by daily usage and instant value.
• SIP-First Professionals stabilise nicely (Day 30 ≈ 12.8%), suggesting strong stickiness via goal-based SIP flows.
• New-to-Market Millennials see steep drop-offs (Day 1 ≈ 21.2%, Day 30 ≈ 8.1%), indicating a need for faster time-to-value and confidence-building.
• Aspiring Rural Investors similarly struggle early (Day 1 ≈ 22.7%, Day 30 ≈ 8.7%), highlighting friction in onboarding and lower product familiarity.

Top Reasons Why Users Churn on Groww:

Voluntary Churn

Users actively choose to stop engaging or uninstall the app.

 Involuntary Churn

Users face friction or technical issues, leading to unintended disengagement.

📊 Summary Table

**Most of the data points are based on secondary research as pointed out.

Negative Actions that we can look out for:

🧭 1. Behavioral Signals (In-App Activity)

💬 2. Sentiment Signals (Feedback & Ratings)

RESURRECTION CAMPAIGNS FOR GROWW

📬 Campaign 1: “We Miss You, Come Back to ₹500 Bonus SIP”

• 1. Segmentation: Users who completed KYC but didn’t make any investment within 30 days
• 2. Pitch/Content:
  "Let’s get you growing again. Start your first SIP in under 2 minutes and earn rewards while you invest."
• 3. Offer: ₹100–₹500 cashback on SIP (min ₹1000), Groww SIP milestone badge
• 4. Frequency & Timing:
• • Day 30, 35, 40
  • Email + Push + WhatsApp
• 5. Success Metrics:
• • SIP restart rate
  • Portfolio creation within 7 days of campaign
  • Cost per reactivated user

📬 Campaign 2: “Your Money is Waiting”

• 1. Segmentation: Users with SIPs paused or cancelled in the last 45 days
• 2. Pitch/Content:
  "Your investments deserve another chance. Let’s resume your SIP and grow consistently again."
• 3. Offer: Free goal planner + market outlook eBook download
• 4. Frequency & Timing:
• • Day 45, 50, 60
  • Email + In-app notification (if reinstalled)
• 5. Success Metrics:
• • SIP restart conversion rate
  • D7 retention post-restart
  • Engagement with planner tool

📬 Campaign 3: “Let’s Finish What You Started”

• 1. Segmentation: Users who dropped off during KYC or failed KYC verification
• 2. Pitch/Content:
  "You’re just one step away from unlocking powerful investing. Let us help you complete your KYC today."
• 3. Offer: Assisted onboarding call + ₹50 Groww bonus post-verification
• 4. Frequency & Timing:
• • Day 2, 4, 7, 14 (post-drop)
  • Vernacular WhatsApp + Call + SMS
• 5. Success Metrics:
• • KYC completion rate
  • Conversion to portfolio creation
  • Assisted onboarding adoption rate

📬 Campaign 4: “Did You Miss These Returns?”

• 1. Segmentation: Lapsed users with an empty portfolio but past usage of watchlists or IPO tracking
• 2. Pitch/Content:
  "Your tracked stocks have moved up X% — here’s what you could’ve gained. Start investing today."
• 3. Offer: No offer — FOMO-based psychological reactivation + curated insights
• 4. Frequency & Timing:
• • Weekly updates for 3 weeks
  • Email + push (if app reinstalled)
• 5. Success Metrics:
• • Watchlist clicks
  • First investment post re-engagement
  • App session time

📬 Campaign 5: “Your Account is Still Safe & Secure”

• 1. Segmentation: Users who uninstalled the app or have been inactive for 60+ days
• 2. Pitch/Content:
  "We’ve kept your portfolio secure and growing. Reinstall the app and check your progress."
• 3. Offer: 1-month access to Groww Digest Pro (premium content, market insights)
• 4. Frequency & Timing:
• • Day 60, 70, 90
  • SMS + Email retargeting (possibly via Meta, Google)
• 5. Success Metrics:
• • App reinstalls
  • First action (SIP/view) within 7 days of reinstall
  • Digest open rate

Each campaign addresses a different churn stage — early (onboarding), mid-funnel (SIPs), or late (fully inactive). They mix emotional levers (FOMO, reassurance) and tangible incentives (cashbacks, tools) to maximize reactivation.