Enhancing retention for Otly!
A design strategy for Otly! that proposes strategic choices to improve their customer retention rate
N.I.M. Kostoulas (TU Delft - Industrial Design Engineering)
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Abstract
Otly! is an Amsterdam based startup that aims to remove difficulties around digital money for children. The company aims to accomplish this by providing a safe financial ecosystem for children as well as their parents. With a pocket money app for both parents and children, Otly strives to introduce the first banking experience for kids.
A design strategy is proposed to Otly! with strategic choices to improve their customer retention rate among parents. Customer retention is a company’s ability to: keep users returning, drive engagement, deliver value and generate revenue in a competitive context. The strategy provides insights in Otly’s current state of customer retention, if their retention data is of concern, what factors drive customer retention and what steps Otly is recommended to take to improve their customer retention.
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