RappiPay Generates 179% Uplift in Conversion Rates by Trusting AI to Deliver Faster, Better Messages
Persado, the leading AI content generation and decisioning platform, announced the initial results of its work with digital banking company RappiPay. The collaboration drove triple-digit conversion rates for RappiPay by leveraging the Persado AI content generation and decisioning capabilities to deliver the most effective messages to RappiPay’s growing customer base.
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“RappiCard offers great rewards and customer service 24/7, without charging an annual fee. But great product features are not enough. RappiCard speaks to customers in their own language and Persado has helped us quickly find the best ways to do this.”
Listed as one of Fast Company’s most innovative companies and valued at a market cap of $5.25 billion USD, the superapp Rappi is an on-demand delivery mobile app that allows users in 9 countries in Latin America to shop for groceries and other goods, as well as make cash withdrawals in certain cities. With the formation of RappiPay, the leadership team is applying the same technical prowess to revolutionize digital banking services that made Rappi such a success.
Latin America is home to 650+ million people, nearly half of whom are unbanked. RappiPay delivers financial services digitally, offering a better customer experience and fostering financial inclusion. The company’s credit card, RappiCard, was launched in January 2021 and has taken Mexico by storm, on target to meet its ambitious goal of reaching 400k customers this year.
The tech-savvy marketing team at RappiPay has significant goals for new customer acquisition to support RappiCard and enable additional offerings to come to market. RappiPay knew their new product would need to cut through a noisy market. They needed to find the right messages to inspire engagement. Being a customer-centric company led by data and technology, RappiPay seized on the opportunity to leverage AI and uncover the content that would most resonate with customers. Persado was the logical choice.
“Rappi rocketed to unicorn status in record time. Of course it built amazing technology, but mostly, Rappi listened to customers. We are doing the same thing with RappiCard,” said Juan Guerra, CEO RappiPay MX. “RappiCard offers great rewards and customer service 24/7, without charging an annual fee. But great product features are not enough. RappiCard speaks to customers in their own language and Persado has helped us quickly find the best ways to do this.”
Working closely with the team at RappiPay, Persado created multiple message variations that were tested through email, push notifications, in-app notifications, and Facebook ads. The initial goals were pushing people to the RappiCard waiting list, then when the card became available, the team pivoted to campaigns supporting customer acquisitions. The AI-generated content from Persado delivered a 179% uplift in conversion, catapulting the team ahead of its goals.
“Words are fundamental to marketing,” said Alex Vratskides, CEO of Persado, “With forward-thinking, innovative companies like RappiPay, Persado is on a mission to personalize language like never before, for on-brand messaging that inspires customers to action. We enable the world’s most innovative marketers, like RappiPay, to leverage AI and machine learning to harness the full power of better words. We have seen the same results with hundreds of campaigns: AI-generated content works.”
The Persado AI-content generation not only allowed the team to scale their content variables, but also took human bias out of the content creation process – allowing the focus to be on the best-performing content. In the initial findings, the Persado and RappiPay teams also identified differences in the content that performed best for distinct customer segments, laying a strong foundation for AI-driven language personalization in future campaigns.
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