The Challenge
Stori noticed that some processes were complicated for its customers, such as updating their profile or accessing account information.
The Strategy
With the help of Braze, Stori simplified the customer experience by allowing users to update their address with just one click in a WhatsApp message. They also launched a campaign that made it easier to access crucial account information, such as balance and payment dates.
The Results
By implementing a personalized, multichannel communication strategy, Stori not only strengthened customer relationships but also solidified its position as a leader in financial inclusion in Latin America. They significantly increased conversion rates while optimizing operations.
Stori, a pioneer in the Latin American fintech space, provides digital financial solutions for those underserved by traditional banking. With a mission to empower people, the company is committed to breaking conventional banking barriers, boasting a 99% credit approval rate and a 15% return on deposit accounts.
Stori’s success is driven by its customer-first approach, designing products alongside its users. This strategy is key to their customer engagement efforts, focusing on listening to users, understanding their needs, and solving their problems. This commitment ensures their position as the leading fintech company in Latin America.
With its WhatsApp campaigns, Stori tripled engagement and achieved a 26% increase in conversion rates.
Driving Financial Inclusion with Innovative Engagement
To enhance its customer engagement program, Stori evaluated multiple solutions before choosing Braze for its comprehensive channel support and no-code tools, which allow them to set up complex flows without technical assistance. They initially started with email, SMS, in-app messaging, and push notifications before expanding to WhatsApp, a highly popular channel among their Latin American customers.
Before Braze, Stori used other WhatsApp providers that were unreliable for large-scale campaigns and lacked orchestration tools. They chose Braze for its multichannel capabilities, reliability, and orchestration features.
Additionally, Stori leverages Amplitude, a Braze Alloy technology partner, to monitor analytics, enabling a data-driven approach to continuously optimize campaign performance.
Enhancing Customer Experience with WhatsApp
Stori engages with customers across all stages of the lifecycle, currently focusing on acquisition and retention. For their initial WhatsApp campaigns with Braze, they identified two key touchpoints:
- An address update campaign for credit card replacements
- A chatbot that turned payment reminders into an interactive experience
In the first campaign, Stori segmented its audience, identifying users who needed to update their address for credit card replacements. They then sent a WhatsApp message prompting them to update their profile information, leading to high conversion rates and improved customer service.
In the second campaign, Stori transformed a challenging communication into an opportunity to engage customers. Using Braze Canvas, webhooks, and Liquid logic, they passed customer data to their chatbot, facilitating an interactive WhatsApp chat. This turned payment reminders into personalized, engaging messages. They conducted A/B testing on content and timing to maximize engagement and response rates while ensuring the right messaging tone.
With Braze, Stori quickly set up both campaigns from ideation to iteration, requiring technical resources only for the chatbot. They are excited to expand these approaches and deepen their commitment to customer success.
Significant Progress in Conversion and Customer Satisfaction
Stori’s targeted campaign delivered impressive results, highlighting the effectiveness of its customer-centric approach. The WhatsApp address update campaign significantly boosted conversion rates, while the innovative chatbot transformed a challenging message into an engaging, interactive conversation. This led to an improved customer experience, higher retention rates, optimized operations, and increased efficiency.
Key Takeaways
✅ Adopt a customer-first approach: Stori’s success comes from putting customers at the center. By understanding their needs and focusing on problem-solving, they improve engagement and build long-term relationships.
✅ Better doesn’t mean harder: With Braze, Stori easily designed, launched, and tested campaigns, addressing challenges successfully without heavy technical resources.
✅ Turn interactions into conversations: With WhatsApp, Stori transformed a potentially negative interaction into an engaging experience through two-way messaging.
Source: Braze
