Angel One: Redefining customer experience with a conversational omnichannel strategy
10%
increase in message delivery rate with RCS
35%
open rate with WhatsApp Flows
CHALLENGE
Engaging with customers in real-time through multiple channels to support their decision-making journey
Angel One is one of India’s largest retail broking houses in terms of active clients on the National Stock Exchange of India (NSE). As a digital-first company, Angel One provides a digital platform for users to invest in the stock market. To further support customers on their investment journey, the company aimed to enhance its communication strategy by leveraging digital channels for real-time, personalized engagement.
We were always a digital-first company, encouraging users to download the app and trade by themselves. Even today, the majority of users trade via our app.
Prateek Kabra
Head – Traffic & Engagement, Angel One
Being a digital-first company, Angel One wanted to upgrade its existing communication system to resolve some key challenges:
- Low reachability: Traditional channels such as email and SMS were not enough to reach their customer base, which was growing exponentially.
- Lack of real-time interactions: Customers who dropped off during the onboarding process could not be followed up in real-time.
- Absence of two-way communication: Instant resolution of queries became difficult, resulting in poor customer experience.
To address these challenges, Angel One needed a digital communication solution that could:
- Make the onboarding and trading experience seamless for customers.
- Enhance their customer acquisition and remarketing strategies.
Without digitalization, we were unable to access most of our users since the users were growing in the last 3-4 years. So, it’s very important to reach them through channels such as WhatsApp, RCS, and other communication mediums. Because with the help of offline communication and SMS, the reachability was inadequate.
Prateek Kabra
Head – Traffic & Engagement, Angel One
SOLUTION
Attaining higher engagement and reach with a strategic omnichannel approach
Angle One was looking for a communications technology provider with experience in the financial services industry. After evaluating our platform capabilities in terms of flexibility, user-friendliness, and security, the company decided to partner with us to digitalize its communication process and enhance its customers’ journey.
We helped the company implement a robust omnichannel communication strategy by integrating RCS and WhatsApp on our customer engagement platform, Moments.
Our team helped them design a flow journey on RCS and WhatsApp on Moments. Given its extensive reach, WhatsApp was a natural choice, while the growing traction of RCS in India made it an ideal channel for maximizing engagement.
The company used both channels to assist in onboarding, proactive communication, and driving higher conversion. Managing and securing data was also a key concern for Angel One, so we helped them localize their customer data by integrating with Moments. In this way, we ensured that the data remained within the country.
RCS: A game changer for Angel One
Angel One leverages RCS to streamline customer engagement. Here are some of the use cases:
- Keeping new customers informed.
- During onboarding, customers are provided with access to online and downloadable content, such as quick guides on trading and research picks, to help them in their investment journey.
- Preventing customer loss.
- If a customer drops off during onboarding, follow-up messages are sent to RCS through our Moments platform to motivate them to complete the process.
- Providing transactional assistance.
- In case of payment failure or difficulty in adding funds during the trading process, real-time assistance is provided through the RCS messaging.
Angel One also uses RCS to nurture inactive users, promote new product features, and suggest investment opportunities such as news regarding any upcoming IPO. The conversational nature of RCS enables a two-way dialogue, allowing customers to ask questions and receive immediate answers, all within the same interface. Using Moments, the company could automate most of its communication seamlessly.
Prateek adds, “We are doing most of our campaigns via Moments. The unique capabilities of Moments have helped us attain better campaign performance. We can split the audience so that we can do AB testing in a single flow. Apart from that, we can do the real-time campaigns, and personalization can be done easily using Moments.“
Enhancing customer experience with WhatsApp
Angel One primarily uses WhatsApp to assist customers with onboarding. When customers sign up on the Angel One platform with their mobile number, an automated welcome message with rich media content is sent to guide them through onboarding.
“Primarily, we use WhatsApp to send out communication to our customers who have opened an account with us. When we say open an account, they have a client code generated, which we carry forward in all communications,” said Prateek Kabra.
To educate customers and help them in their investment journey, Angel One shared various online and downloadable assets via WhatsApp, such as instructions on adding funds, performing transactions, and more. Customers are also provided with personalized stock trading advice with quick action buttons.
We helped Angel One set up WhatsApp Flows to automate the customer journey and provide quick, real-time assistance. The company also implemented WhatsApp Flows for some of its campaigns, such as IPO applications for existing customers, where they can easily apply for any IPO via WhatsApp. With our AI agent, setting up WhatsApp Flows has been a seamless process.
Infobip’s AI Agent will be a game changer – it allows us to build WhatsApp Flows in minutes, heavily supporting our technical teams. The fact that Infobip’s platform components work so well together makes it easier for us to experiment, optimize, and quickly deploy new use cases. This level of cohesion and flexibility is exactly what we need to keep innovating in such a fast-paced digital environment.
Prateek Kabra
Head – Traffic & Engagement, Angel One
Maximizing reach with omnichannel communication
Angel One has been using WhatsApp and RCS as a holistic combination for omnichannel success. While WhatsApp was used as a primary channel, RCS acted as a failover for many use cases, such as onboarding, nurturing, and more. The main idea behind using both communication channels was to ensure no message goes unnoticed.
One thing that we are doing is the failover. So, that is the major part we are doing in the RCS. The flows are already defined in the Infobip Moments platform. If a WhatsApp message is not delivered, we send them an RCS message as a failover.
Prateek Kabra
Head – Traffic & Engagement, Angel One
RESULT
10% increase in message delivery rate with RCS messaging
By adopting an omnichannel communication strategy, Angel One was able to increase its reach and create a better customer experience. RCS proved to be a very effective channel for driving higher engagement due to its real-time communication capabilities and rich media features.
Customers are now getting better communication in the form of images and carousels, which attract their attention and lead to improved click rates. This channel is also interactive, which helped us launch a carousel campaign offering various services for our clients to choose from, based on their interests.
Prateek Kabra
Head – Traffic & Engagement, Angel One
Some impactful results using RCS include:
- 10% higher message delivery rate: Delivery rates improved from 35% to 45% after switching to RCS, showing a significant uplift in message reach.
- 5% click-through rate (CTR): Using personalized RCS messages with rich media helped Angel One achieve a 5% CTR, prompting users to engage with links and sign up for the application.
Prateek added, “A better response may be in terms of CTR on personalized campaigns because that drives users’ attention, and they are intrigued enough to open your message. We did see a better engagement rate there.”
WhatsApp, one of the key channels and part of the omnichannel communication strategy, has helped Angel One enhance its customers’ onboarding journey. Advanced WhatsApp features such as WhatsApp Flows have proved very effective in driving higher engagement.
Some impactful results using WhatsApp include:
- 35% open rate with WhatsApp Flows
- 90% of users engaged with Flows
- Over 50% of users progressed through Flows
Attaining exceptional results through a well-defined omnichannel strategy, Angel One looks forward to leveraging new features of channels such as RCS and WhatsApp as part of its innovation process.
Infobip has been very supportive and has helped us solve our queries quickly. They have always helped us explore new features & use them to achieve our metrics.
Prateek Kabra
Head – Traffic & Engagement, Angel One
Disclaimer: This is only for informational purposes. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.
COMPANY PROFILE
Established in 1996, Angel One Limited is a financial services company headquartered in Mumbai, India. The company provides broking and advisory services, margin funding, and financial products. Regarding active clients, it is now one of the largest listed retail broking houses in India.