Building User Retention Promo Feature
Company
Akseleran
Project Type
Feature Development
Duration
12 Months
Related Teams
Data Team
Engineering
Role
CMO – Project Owner
Before 2019, the dominant startup mantra was “growth at all costs”, fueled by investor demands for hypergrowth, cheap capital (low interest rates), and winner-takes-all market dynamics. However, the collapse of Theranos and WeWork marked a turning point.
By 2020, the Covid-19 pandemic accelerated the wake-up call, forcing startups to prioritize cost efficiency and sustainable metrics over unchecked expansion.
Since 2019, Akseleran has aligned with this shift, focusing on long-term resilience rather than short-term blitzscaling. A key pillar of this strategy? Improving user retention, not just acquisition, in the lifecycle marketing.
While we’ve historically used promo codes to attract new users (e.g., starter funds for first-time investors), we lacked a dedicated promo engine for retaining existing users.
How might we design a retention-focused promo engine to deepen engagement and lifetime value?
Solution
As sustainable growth has been the strategy of our company, it supported my business case in suggesting a new promo engine for retention promo in our lifecycle marketing. With the retention promo, we can entice “Soft Churn” and “Hard Churn” users to be reactivated again.
I discussed this with other related C-Levels, especially CEO and CTO, and they agreed to the idea. The only issue was the timeline as the IT Team was swamped by other projects. It required some compromises with other departments as well to utilize IT Team’s bandwidth.
I discussed the business requirements to the IT Team, discussed and iterated it for a couple of months until the first version was finally deployed. Combined with targeted existing user segments from our BI tools, this promo engine gave an entirely new capability of retaining our existing users as the promo can make them reconsider in churning.
Next iteration
After the first version was deployed, we found out that we needed a mission-based promo. By using a mission-based structure, where users must meet a minimum transaction value to qualify for the promo voucher, we can control the return on promotion spending (ROPS) for better profitability.
We submitted the additional requirements to the IT Team, but unfortunately this time it took significantly longer to implement this feature due to lack of IT team bandwith. I kept following up our IT Team for almost a year until this feature is finally deployed.

Benefit / Result
We implemented this retention promotions using RFM-based lifecycle segmentation to deliver personalized incentives, especially for at-risk users. Some of the capabilities that the new retention promo gave for improving user retention in the lifecycle marketing:
• Engaged new users to do at least 4 transactions in their early stage of becoming Akseleran Users. Data shown that users that did 4 or more transactions had a lower churn rate.
• Engaged “soft-churn” users, which are users that weren’t doing transactions in a certain period of time.
• Reactivated “hard-churn” users, which are users that were already not using the app longer than “soft-churn” users.
• Increased average transaction value by giving a “minimum investment amount” mission with the promo voucher as the reward.
Key Results
✔ Reduced churn by 63% Y-o-Y
✔ Increased average transaction value by 82% Y-o-Y
✔ Increase in Month-1 Retention Rate by 14%