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WeMoney’s breakthrough moment

20 March, 2024
WeMoney’s breakthrough moment | News | Pause Awards
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Ann Nounce
20 March, 2024
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Meet WeMoney, founded by Dan Jovevski, the Pause Awards 2023 winner in ‘Wildfire’ category and the first Diamond, the best-in-show!

WeMoney is the award-winning leader in the personal finance space with over 500,000+ downloads that helps Gen Z and millennials manage their money and helps them pay their debts faster—making everyone live their best financial lives.

At Pause Awards, we unite to spotlight transformative innovation and exceptional business achievements. Our independent and rigorous judging process focuses on creativity, championing not only the success but the breakthroughs to inspire a community of pioneers and change-makers.

WeMoney, what’s your breakthrough moment?

One breakthrough moment was when we identified that the onboarding process held the key not only to improving user experience but also to achieving a profound impact on user growth and results into the reduction of the cost per acquisition and boosting customer lifetime value.

Users were abandoning the onboarding process for various reasons – from perceived complexity and confusion to a lack of understanding of the app’s value proposition. This churn point was not just a hurdle but a financial drain as well. We were allocating marketing resources to acquire users who did not complete the onboarding process, leading to inefficiency and wasted acquisition costs.

In response, we initiated a strategic shift in the onboarding stage, overhauling our UX/UI to simplify onboarding and enhance the user experience. We introduced various simplified onboarding sequences. To ensure ongoing improvement, we established a robust feedback loop during onboarding.

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