Groww

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Groww

Groww is a simplified finance app

What is the core value prop of your product?

Groww aims to make investing easy for everyone by providing a user-friendly platform, educational resources, diverse investment options, and low fees.

How do users experience the core value prop of the product?

Users engage with Groww's core value by utilizing a user-friendly interface to invest in a variety of diverse investment options.

Define the action that makes a user an active user?

Any user investing in any of the investment Mutual Funds or Stock

This is the process of experiencing the core value prop:

⬇️ Logs in to the Groww app – inactive user ⏳

⬇️ Start KYC – inactive user ⏳

⬇️ Search suitable MF or Stocks to invest – inactive user ⏳

⬇️ Invest in Mutual Funds or Stocks –active user ⏳

What is the best engagement framework for your product?

Engagement Framework	Key Tracking Metric	Selected	Rationale
Frequency	Number of times the user accesses the Groww platform for investment-related activities.	NA	Users may prefer one SIP in month vs Weekly. Of can invest for long term in one go the number of times someone uses the product doesn’t help them experience more of the core value prop
Depth	Total money spends	Primary	The more money they spend, the more they exp the core value prop. the more money they spend, the better return or benefit of investment
Breadth	The number of sub products Like MF, Equity, IPO etc. being experienced by the user	Secondary	Could be a good engagement framework -products they experience – Equity, IPO, and Mutual Funds

Depth = {Frequency X Money Spent}

· Frequency and Breadth, for Groww, ultimately lead to Depth.

· Depth is the best engagement framework for Groww

· Breadth followed by Frequency are secondary frameworks.

What is the natural frequency of the product?

Product	Natural Frequency	Engagement Frequency	Engagement Framework
Mutual Funds	Monthly	Medium	Depth, Frequency
Stocks	Weekly	High	Depth, Frequency
IPO	Monthly	Low	Depth, Frequency
Pay	Weekly	High	Frequency, Breadth

Applicable for Core/Power Users

User segmentation

	ICP 1	ICP 2	ICP 3
Age	22-45 years	22-35 years	28-45 years
Salary	5-40 LPA	7-30 LPA	15-65 LPA
Savings Rate	30-40% of income	50% of their income	30-40% of their income
Risk Appetite	Moderate-High	Low-Moderate	Low-Moderate
Major Expenditure	Household expenses, EMI (Car and House Loans), Upskilling, Conferences, Travel and Entertainment	Household expenses, Entertainment, Travel, Loans/EMIs (Car and House), Children’s education, Upskilling, Conferences	Household expenses, Entertainment, Travel, Loans/EMIs (Car and House), Children’s education, Food and Restaurants, Wellness
Invest In	Stocks, MF, Gold, Bond, Crypto, IPO	ELSS, Gold, FD	FD, Mutual Funds, Gold, Stocks
Cities	Tier 1 and Tier 2	Tier 1 and Tier 2, 3	Tier 1, 2
Marital Status and Family	Single/Married, have kids too	Single/Married	Single/Married, some have kids too
Where they consume news?	Online platforms: Inshorts, Twitter, IG Newspapers: The Hindu, ET, Financial Express, MoneyControl, Google News Regularly read blogs on how to save and make money	Newspapers or Online Platforms: The Hindu, The Economic Times, Financial Express, Moneycontrol, Twitter, Google News, Inshorts	Newspapers or Online Platforms: The Hindu, The Economic Times, Financial Express, Moneycontrol, Twitter, Google News, Inshorts,
Personal Finance Applications	CRED, Gpay, PhonePe, Cheq, Banking Application, MFs/Investing Application	Banking Apps, CRED, Splitwise, Google Pay, Slice, UniCards, LazyPay,	Banking Apps, CRED, Splitwise, Google Pay, PayTM, Broker apps, multiple MF apps, P2P apps, Save Now Buy Later Apps (Hubbl, Tortoise)
Social Media	Instagram, Twitter, WhatsApp	Instagram, Twitter, WhatsApp	Instagram, Twitter, WhatsApp, Reddit (personal finance communities), Telegram Channels (personal finance), Slack Communities, FB groups
Other apps they regularly use	Spotify, Swiggy, Urban Company, Zepto/Blinkit, Uber, Dunzo, Rapido, Fitness Tracking Apps, Makemytrip, Skyscanner, Netflix and other OTTs	Spotify, Swiggy, Urban Company, Zepto/Blinkit, Uber, Dunzo, Rapido, Fitness Tracking Apps, Makemytrip, Skyscanner, OTTs,	Spotify, Swiggy, Urban Company, Zepto/Blinkit, Uber, Dunzo, Rapido, Fitness Tracking Apps, Makemytrip, Skyscanner, OTTs,
Features/Sub Products they use in Groww	Mutual Funds, Stocks, IPO	Mutual Funds	Mutual Funds Stocks
What do they look for in Groww?	Return	Simple Investment App, Less Charges, Return	Less Charges, Easy to Use, Return
Products (Breadth)
Mutual Funds	YES	YES	YES
Stocks	YES	NO	YES
IPO	YES	NO	NO
Frequency	High	Low	Medium
Depth	High	Low	Medium

Casual - Core- Power

Mutual Fund	Casual	Core	Power
Frequency	Yearly/Monthly	Monthly	Weekly/Monthly
Investment in MF	Low	Medium	High
Invested in MF	Yes	Yes	Yes
Investment in Multiple MF	No	Yes	Yes
Investment in Stocks	No	Medium	High
Invested in Stocks	NA	Yes	Yes
Frequency to Invest/Check Stocks	NA	Once in Week	Daily
Investment in IPO	No	No	Actively
Invested in IPO	NA	NA	Yes
Frequency to Invest/Check IPO	NA	NA	Monthly
Intraday	Not Using	Not Using	Using
F&O	Not Using	Not Using	Using
Pay	Not Using	Not Using	Occasionally

Engagement –

ICP 3 (Low Risk Appetite)-

Engagement framework – Depth, Breadth

Casual ➡️ Core | Campaign for Casual User - Hibernating or In Sleep

Problem statement:

· Knowledge gap for investing in Stocks.

· Low risk appetite so can’t invest in stocks.

· No benefit found in investing Stocks or More Mutual Funds

· Not sure if Mutual funds will give a return or not so investing much.

· Less saving to invest.

· Don’t have time to invest.

	Campaign 1	Campaign 2
Goal	The user set the first SIP for	User invest in at least one stock
Target Segment	Hibernating User	In Sleep User
Offer	Free Investment consultant session with a free credit of 500 in the wallet to set monthly SIP of 2000+	Free 100 Rs in the wallet to buy stocks & experiment
Campaign Pitch/Content	Consider this: What if our expert guides you in tailoring mutual funds to suit your specific needs and throws in your first SIP for free?	Imagine this: you invest, and if there's a loss, we cover it. But if you make a profit, it's all yours. Intrigued? We've already deposited 100 Rs into your wallet. The experimental game is underway – seize the opportunity and invest now!"
Channel	Push Notification, Email, WhatsApp	Push Notification, Email, WhatsApp
Frequency	Twice a week	Twice a week
Time	Start Friday evening Rotate the pitch/content mid-week evening	Tuesday to Friday when market is open ( 9:15 to 3pm)
Success Metric	Increase in SIP of Users. MOM % decrease in churn of users.	% of users adding their first stock in their portfolio is increasing.

ICP 2 ( Low – Medium Risk Appetite)-

Engagement framework – Depth, Breadth

Core ➡️ Power | Campaign for Core Users - Potential Loyalists and Loyalists

Problem statement:

· Don’t have time to invest.

· No benefit found in investing Stocks or More Mutual Funds

· Not sure which Mutual funds or stocks will give the return.

· Knowledge Gap

	Campaign 3	Campaign 4
Goal	Increase the Depth ( Users to increase the SIP or buy another SIP)	Increase the stocks in portfolio
Target Segment	Potential Loyalist	Loyalists
Offer	Complimentary personalized recommendations grounded in your financial history, along with an extra 500 Rs in your wallet for your second SIP. Don't miss out on this exclusive offer!	Unlock high-return stock recommendations without any fees, and enjoy the added benefit of zero fees when adding more stocks within the week. Seize the opportunity for a lucrative investment!
Campaign Pitch/Content	Unlock the best returns with these top-performing mutual funds. Diversify your investments today and enjoy a head start – we've added 500 Rs to kickstart your next mutual fund SIP. Don't miss out!	Discover the finest stock recommendations tailored just for you, and here's the kicker – zero fees for investing in these stocks! Seize the opportunity, invest now!
Channel	Push Notification, Email, WhatsApp	Push Notification, Email, WhatsApp
Frequency	Twice a Week	3 times in week
Time	First Week of the month	Morning when market open
Success Metric	Increase in % of users buying second SIP	Increase in % of users who had one stock earlier added more stocks

Campaign for Power Users - Champions & Loyalists

Campaign 5:

Segment - Users have only invested in Mutual Fund and stocks but depth is low.

Goal - To increase the depth.

Pitch -

You too can get 12%+ Return, learn how Shyam got 12-18% return for free

Offer – Free investment session and Investment Consultant support for the month

Frequency – Once in a week

Channel - Email, WhatsApp, Push notifications

Success metric – Investment amount increased, and portfolio diversified to stocks and mutual funds both.

Retention and Campaigns

Bird’s Eye View - Retention Rate

There is no publicly available data on Groww's retention rate.

Going by the survey :

👉🏼 87.3% of respondents are active and current users of Groww.

👉🏼 22.7% are dormant or past users of Groww*

Observation: The retention rate in the Investment app is higher due to the long onboarding cycle and long-term investment done in app.

The total number of Users of Groww is 6.63 which is the highest in all the brocking apps sub-products.

Microscopic View:

Which ICPs drive the best retention?

ICP 1, 2 – High to medium risk appetite, once they have adopted the product and invested for long term & do not go through any major pain point, they would stick to the product for the sake of convenience and

What channels drive the best retention?

Organic
Referral

What sub-features or sub-products drive the best retention?

- Intraday

- F&O

What sub-features or sub-products drive the worst retention?

- Pay

Define

Top reasons for churn-

Voluntary -

Using a competitor
Do not trust the security of the app.
Bad customer experience
Multiple transaction failures

Involuntary -

One-time use case – Opened account once to apply for trending IPO
Not tech savvy - stuck at a specific step.
Internet not available
Death

Negative actions -

SIP stopped.
Started to sell portfolio shares.
Not opened and checked portfolio for a long
Taking the issue to social media.
Negative reviews of the app.
Payment failure reasons
lower CSATs

Resurrection campaigns -

For Voluntary reasons of churn below are the listed Campaigns:

Campaign	Campaign 1	Campaign 2
Context	User has been churned and moved to Competitor App for better discounts and low charges	Hibernating User whose order frequency is low and has low activity.
Goal	Re-engage user with Groww	Re-gain users
Offer	Free 200 Rs added to your wallet to add stocks	Personalize recommendations based on risk appetite
Content/Pitch	Get started with investing! Receive a complimentary 200 Rs added to your wallet when you add stocks. Don't miss out on this free boost for your portfolio!	Tailor your investment journey with personalized recommendations crafted to match your unique risk appetite. Take control and invest wisely!
Channel	Mail & WhatsApp	Push notification & WhatsApp
Frequency	Twice in a week	Twice in a week
Timing	End of Month	Mid-week
Success Metrics	Increase in % of inactive users adding stock in portfolio	Engagement & frequency increases