Vimvest Was A Savings App Founded In 2016 In The Boom Of Fintech, And They Held Fast To Their Three Pillars: Invest, Save, Give.

But in those first 5 years as a start-up, Vimvest’s existing product was drastically outpaced in the time that it took to get it to market. And—the existing product didn’t have market fit, only retaining about 1,000 active monthly users.

Vimvest would need to rethink its approach to become a successful business.

Going Back To Square One

Vimvest had many hurdles to overcome—

• The brand was a bit out of touch, not focusing on customer pain points which meant converting prospects into users cost them a pretty penny.
• Because customer acquisition cost for the product was so high, Vimvest couldn’t scale the business.
• No team existed to execute the massive workload needed to bring the brand back to life and to help the company regain it’s footing in the market.
• No marketing technology stack was in place to enable customer data or customer interaction efforts.They needed someone to right the ship.
  

They needed someone to right the ship.

Vimvest needed someone who could build. And build quickly.

Building With Business Sense

Justin True was hired as CMO. With his strong understanding of business and marketing, Justin had the framework ready to point the CEO in the right direction.

And They Tap Into A Fresh Market

Marketing Leader

Justin built, grew, trained, and led the marketing team. He also worked with the CTO to build a product that would entice and delight users. He led company-wide meetings to bring transparency to a shifting product and the roadmap for development ahead.

Rebranding

Vimvest became Monorail, a modern fintech brand with the graphic style necessary to capture our audience’s interest.

Repositioning

Vimvest identified a true customer pain point in a cross-section of the savings app and shopping app markets. And they built the powered wishlist as the app’s main feature.

So, Vimvest became Monorail, a shopping app that helped you save for the things you want without overspending or using buy now, pay later companies to make purchases.

At last, it was the right messaging at the right time.

Marketing Strategy

Justin created a business plan and a marketing strategy that would help Monorail go to market, scale, and sell.

The marketing team developed pre-launch, launch, acquisition, engagement, departure, and channel strategies which included everything from ads, influencers, content, social media, and email to the website and the app store.

Marketing Tech Stack

We identified all the tech stack needs to fulfill the business plan, negotiated contracts, and managed implementation— all to create a state-of-the-art marketing tech stack that would help the business scale easily.

Monorail was set for success.

Now, There’s A Steady Rate Of New Users. And They Don’t Leave.In the first two months after launch, Monorail gained about 2,000 active monthly users with a waitlist of 7,500 people interested in the product. And 30-day customer retention rate was at 38%, a high for the industry.

We tested paid social ads where an average of 1-2% engagement rate is expected. When we showed ads to our primary target audience, we saw an engagement rate of almost 5%

And CAC decreased by 97%. Yes, you read that right.

The road to decreasing CAC was not simple but proved to be totally worth it, both for the business andthe customers who needed Monorail at that time in their lives.