How to increase acquisition by 5x?

Ankur Saini
Nov 3 · 2 min read

Recently I came across this question on how to increase #acquisition by 5x for a start-up? This is the scenario for a stable start-up that has already established itself in a market and now looking for expansion. Let’s say someone like #TikTok, #Snapchat, #Whatsapp or Indian start-up #Cred. How can they increase their MAU/DAU? These are the numbers that matter for these companies a lot, as they directly impact the valuation of these companies.

Here are my 2 cents on this. I tried to explain it by taking an example of some companies but more or less the same will apply for other companies also.

a. Think about new customer segments: Companies like WhatsApp have always covered millennials. But elderly people still find it difficult to use Whatsapp. They need customized products as per their needs. A product that should be easier to operate and provide them suggestions/assistance while communicating with others.

b. Think about new services you can provide: New services which should be a strategic fit for the company can be launched to acquire new users. Cred is currently into credit card bill payment but they can tie up with banks to provide personal loans. Because they already have the credit score and bill payment history of customers, hence they can easily identify the most credible payers and pitch them personal loans. Or Cred can also tie-up with companies like #EarlySalary which can provide easy credits to Cred customers to avoid late payments.

c. Think about new markets you can expand: Next billion users are coming from developing countries like India, Indonesia, and the Philippines. Big brands like Google are focusing on these markets and making products suitable for their needs. For example, apps working on low internet bandwidth, consuming less battery, lite version of the app, etc.

d. Work with a partner: If you are a technology company, you can think about white labeling your solution for other partner companies. For example, a wallet company can provide white label wallet solutions to banks or other retail companies.

e. Go local: Vernacular is the way to go. People today want to use the app in their regional languages. Launching versions of your mobile app in local languages will help reach more users.

f. Think about new features you can add/improve: What else can you do to make your app viral? An attractive gamification module or referral program will help in building word of mouth. Improving the register, login and transaction journey will also help in attracting more users. For example, login can be made seamless using fingerprint login, sign up can be made easier by providing social sign up options, and the lesser number of steps are there in completing a transaction the better it is.

Let’s discuss in the comment section what other methods you can think of to acquire more users? What flaws do you see in the methods suggested by me? Your feedback is always welcome 😊

Ankur Saini

Written by

Mobile and growth product at Western Union. A payment enthusiast, makes domestic and international payments convenient and easy for customers.

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