BrainAThon:

Notifmaster Challenge
Team:
Vishal Kumar Jha College:
Aakriti Mendiratta Indian School of Business
E.Tharun Sai
 BlinkX wants to accelerate its growth with a
smart notification strategy

Product:
Online trading platform offering suite
Problem statement: Use push notifications to
North Star Metric: DAU
of financial services for both novice Boost Engagement (KPI: DAU - Daily Active Users) Level 1 : MAU, MTU
& experienced traders Nudge users to regularly open the app
Improve Retention (KPI: 1W Retention)
Level 2: Retention,
Aiming to be the nation's Reduce churn of users over time Reactivation
premier glitch-free trading app, Re-activate Dormant Users (KPI: Reactivation %, DAU) Check: NPS, Avg Rating
offering round-the-clock availability Reinstill interest among users who have become inactive
Driving higher conversion by educating users (KPI: MTU - Monthly Transacting Users)
Enhanced brand loyalty, increased user trust, and a more informed user base.
Unique Selling Point

0 AMC
(for lowering entry barrier) Company:
₹0 Brokerage
(maximising returns by minimizing costs) JM Financial is an integrated and diversified financial services group.
Financials:
AI & ML based insights Vision: To be the most trusted partner for every stakeholder in the financial
1M+ Clients
(for informed decision making) world.
88,000 Cr AUM
Reliable and Glitch-Free Performance Belief system: Earning trust is a process; Sharing trust creates great teams;
(reducing the risk of missed opportunities) 38,000 Cr Equity
Being trustworthy is the most efficient way of generating and retaining long-term
Avg. Daily Volume
business; Self–trust is the starting point of trusting others
Secondary Research Suggests that Millennials and GenZ
are Fueling India's Online Trading Boom
Growth of Neo Brokers in India Rise of online trading platforms in India
Total market size of $1.2B [1] 71% Indians Prefer Online trading platforms for Equity Investing [2]
Key Market Trends
Expected to grow at 3.75% CAGR All time high inflows of ₹34,697 Cr into equity mutual funds, up 83%
Average Revenue Per User $9 from ₹18,917 Cr [3]

By Age: By Investment Horizon: Expected Return:

>60 Intraday Not Clear 10-15%
16% 13% 22% 18%
18-30
39% More than 25%
Consumer Segments[6] 46-60 Long Term
4%
19% 48%
15-20%
Short Term 20-25% 32%
31-45 39% 24%
26%

GenZ and Millenials constitute >60% of Investors can be broadly classified into Investors are driven to
the Indian stock market Investors Short-term, Long-term and Intraday generate higher returns
 But a One-Size-Fits-All Approach Won't Work, as
reflected in Primary Research
Long term Investors Short term Investors intraday Investors

Long-term wealth creation

Seeking tax advantages Being able to liquidity quickly Being able to liquidity quickly
Building a retirement fund Emergency fund creation Emergency fund creation
Savings for children expenses Goal oriented investment (e.g., vacation) Goal oriented investment (e.g., vacation)
Diversification of portfolio Looking for high returns Looking for high returns
Stable growth over time Paying off debt Paying off debt
Protection against inflation

insights that were common across investors

Start Investing but can’t be consistent Time with high tendency to invest
Behaviours Want personalized financial advice New year Time for investment
Don’t want loss salary day
Seeking consistent/stable returns Near tax submission to get tax exemption
Want’s a hands off approach to investing After getting dividends from existing investments
New to investing want to learn investment basics Birthday
Don’t want to take huge risks Festive day
Want to avoid complex financial products Tax refunds after tax filing
 Meet our 3 key user personas based on diverse needs
and investment horizons

Rajesh, Akhila, Nithin,

34, Delhi 30, Mumbai 40, Hyderabad

New parent, just started Tech savy milenial, wants Passionate investor, loves
investing & earns (~5 to 10 L) early retirement (~ 15 to 20 L) risk & rewards ( ~ 30 to 50 L)

Products Mutual Funds Products Stocks (Long-term and Products Intra-day trades
Government Bonds swing trades) Futures & Options
Used: Used: Used:
Stocks (Ocassional) Active Mutual Funds Currencies

Needs Needs Needs

Critical Alerts - Upcoming SIP, Order Executed Critical Alerts - Orders Executed Reliable Platform - No Downtime and glitches
Market Updates - Dividend Payout, NFO Market Updates - Opening/Closing Bell Technical Analysis - Charts, Indicators
Guidance - Investment Tips, Recommendations Investment tools - Stock info, IPO launch Advance Instruments - F&O, Currency

Pain Points Pain Points Pain Points

Limited time to actively manage investments Inability to pick the right investments Missed Opportunities due to inactivity
Limited knowledge of investment opportunities ​ Inability to get the desired returns Inability to optimise returns

Conservative user Growth user Power user

Solution Approach
 Our strategy categorizes notifications based on the
needs they address and how they are crafted
Notification type Characteristics of Notifications
(based on user needs)

Transactional - Orders Executed, Money

Content
Deducted etc.
(text, images, data,
message copy,
Alerts - Market Open/Close, Major price
Sound)
movements etc.
Coverage Trigger
Updates - Market News, Dividends,
(For which What (Automated/
Quarterly Results etc.
user-types) event-based)
Who How
Informative/Educational - Expert
Recommendations, Learning videos etc.

Reinforcement - Showing performance to When Why

incentivise action, e.g. Portfolio appreciation Timing Outcomes
(Timeslot/exact (Impacted
Recommendation - Nudge to explore time, frequency) Metrics)
stocks/MFs. e.g. Buy/Sell from Analysts
We Start by Assessing BlinkX Today: Current Features &
Opportunities for Improvement

PN Centre PNs based on history Product Philosophy

Apart from transactional notifications, recent
Users can choose triggers for notifications S.P.A.R —
history is being used to push PNs
according to their needs Servicing, Pricing, Algorithms, and Research

Dismantle traditional financial barriers,

fostering a more inclusive, personalised, and
empowering financial ecosystem

Ongoing Innovation Playstore reviews

Users love
Google Cloud and BlinkX have announced a Google Play Store: Customer support
collaboration marking the inception of the 5L+ Downloads UI/UX
'ClienTech' era . NER, NLP along with a Hyper- 4.2K reviews
Personalized Nudge Engine are used to nudge Users had issues with
4.7 star avg. rating
users based on past behaviour. Glitches
 Based on the current state of Blinkx we propose a
4-step plan for Hyper-Personalized Notifications
Starting with a persona based personalisation and upgrading to hyper-personalisation (user level)
by using Blinkx’s existing features & invesments.

Persona based personalisation User level (Hyper personalisation)

Step 1 Creating a questionnaire in onboarding Preconfiguring PN centre

Step 3
process to segment & find user needs (current PN centre is all disabled)

Custom PNs based on Custom PNs based on

Step 2 Step 4
unique user needs in segments user history & preferences

Time Type Trigger Time Type Trigger

Based on Fomo, loss aversion, Based on Based on PN Center

History , Based on past
general trends reinforcement etc past opening time & past actions
Wishlist opening rate

Enough data & feedback is gathered

 Step 1: Leverage onboarding Questionnaire
for Initial Segmentation
Inputs from users would be used in segmenting (Personas) & also customising PNs (Content)

Motivational Find the right investments for you

Because you get what you want! Just one last step to goooo!
nudges by personalising in just 30 secsss!

Segmentation
Conservative user
Selects upto 2 ~ Mutual Fund & Stocks

What are your long term goals i What are your short term goals i
How would you like to invest ii

Growth user
Mutual Funds
Selects upto 3 ~ stocks, Mutual Funds, Options
Long-term wealth creation Growth wealth & with high liquidity

Seeking tax advantages Emergency fund creation Stocks

Building a retirement fund Saving for a short-term goal (e.g., vacation) options

Savings for children expenses Looking for high returns Futures

Diversification of portfolio Paying off debt Commodities Power user

Selects more than 4 investment types
Stable growth over time Bonds

Protection against inflation Others

Next Next
Next Next
Next

Answer later Answer later Answer later

Users can click on come back later, a PN will pushed after sometime to make them fill it
Step 2a: Personalised PNs for engaging conservative users
User needs Looking for a few Assurance and confidence to Encouragement to make additional investments
mutual funds/stocks make the first investment

2-3 Days < 1 week 1-2 Months 6 months +

More Advances to
Sign up Creates Watchlist First investment
Looking for a few investment(s)/ Growth user
Mutual funds/stocks larger SIP

Proposed PN Kickstart Nudge: Market Update Peformance Updates Personalised Education Watchlist Alert
search for MF/stock
Bought item
Watchlist Bought item Watchlist
Personalization Search history Name
Search history Name Search History
Element Screentime on a MF/Stock Search history
Name Screentime on a stock

CTA: Based on your recent Celebrate Progress: FOMO Pushes:

Invoke Hope and CTA: Curiosity Tease & Social Proof:
Push You're on a roll, [Name]! Your
activity, we think you'll love Your wishlisted [item] Discover what everyone’s raving Your selected stock is on
Notification exploring these MF/stocks! is on the rise! Click to
stock just went through the
roof!👏💰 Ready for your next
🌟
about, [Name]! Tap here to 🔥
fire, [Name]! Don’t
Start your search now. buy it now learn more miss out on the action
big win?

Time 9 pm to 12 am 9 pm to 12 am 9 pm to 12 am 9 pm to 12 am Weekly: 9 pm to 12 am
(Prime time) (Prime time) (Prime time) (Prime time) (Prime time)
Deeplink Mutual fund / Stock list Stock Performance Page Porfolio page Blog/research page Watchlist

41 % 3x 190% 40 to 60%
increase in CTR for personalised increase in impressions for increase in retention using push notifications increase in open rate of PNs that
PNs used by a Indian Fintech [7] personalised PNs in a Fintech [8] within the first 90 days of using the app. [9] included CTA buttons [10]
 Step 2b: Engage Growth Users with Informative PNs
Learn about different Educational content to make Ongoing market updates and insights Tools to manage
User needs
investment options informed decisions to optimize portfolio investments

After sign - up 1-2 days 1-2 Weeks 1 Month 2 -3 Months 2-3 months + 1 year+

Sign up Watchlist Creation Increased First Second Investment and Increased Advances to
Looking for portfolio Engagement Investment Trading Activity Power User
diversification

Proposed
Proposed PN PN Personalised Tips Market Updates Watchlist Alert Personalised Performance Update Feature Highlight
Recommendations
Personalization User’s expressed Watchlist Watchlist Transaction History Transaction History Instruments with
interest during User’s expressed Search History Transaction Amount
Element largest share in the
onboarding interest Screentime on a stock Watchlist portfolio

Personal Coach: Stay FOMO Pushes: Foot in the Door: Celebrate Progress: Empowerment: Unlock your
Content
Push Ready to make waves,
🌊
[Name]? Check out these ahead of the curve. Your selected stock is on Level up, [Name]!🚀 🌟
Superstar alert! Your 🔓
potential, [Name]! Explore
Notification
hot stock tips tailored just 📈 Key movements 🔥
fire, [Name]! Don’t Time for your second portfolio is shining bright, advanced trading tools to
and trends to watch miss out on the action investment. Let's keep [Name]. Keep up the enhance your experience.
for you
that momentum going! fantastic work Learn more now!
Time
Time One time: Within 1 Daily, Real Time for Weekly: 9 pm to 12 am Weekly: 9 pm to 12 am Weekly: 9 pm to 12 am Weekly: 9 pm to 12 am
hour of sign-up alerts (Prime time) (Prime time) (Prime time) (Prime time)
Deeplink
Deeplink Watchlist Page Blog page Watchlist Home Page Porfolio page Settings/Feature Page

15% ~15%
70% 40% 85% 70%
MAU increase with of PNs used in
customers are more likely customers open app Increase in open rate customers more likely to
performance PNs ecommerce area on
to open personalised PNs [11] within 1 hour from PN [12] when using emojis [13] open personalised PNs [14]
(from Duolingo ) [15] feature highlight [16]
 Step 2c: Advanced, Time-Sensitive PNs for Power Users
Explore app’s full range of Advanced data analysis and
User needs Access to real-time market data and news
features for execution customization options

0-1 days 3-4 Days 1 -2 Weeks 2-3 months +

After sign - up

Sign up Watchlist and

Increased Trading Retention
Quick and efficient First Transaction Activity
execution of trades Alerts Creation

Proposed PN In-App Custom Transactional Personalised Re-enage Dormant Users

Market Alerts
Tutorial Alerts Recommendations
Personalization User’s expressed interest Watchlist Transaction History Transaction History Historical Login Data
Element during onboarding Opt-In Settings Alerts Setting Watchlist Days since last transaction
Opt-in Settings

Welcome to BlinkX, [Name]! 🎉 Urgency: [Name], ⚠️ Motivation: Good morning, 🌞 Golden Cross Alert! The Nostalgia and FOMO: Where Have
Push
Notification
Ready to master advanced [Stock] is showing a Here's your daily summary 50-day MA has crossed You Been, [Name]? 🤔
trading? Start by exploring our sharp movement. Seize from yesterday. Review your above the 200-day MA for The market's been buzzing without
in-app tutorial!📘 the opportunity now! 📉 activity and strategize your [stock]. This could you! Discover what you’ve missed
📈 next big moves! 📈💼 indicate a bullish trend. and get back in the game.
Time 📈 Check it out
After Sign-up Real-time (during Daily: Morning, Real
Dailly, Real-Time 5-7 days since last transaction
market hours) Time
Deeplink Tutorial Watchlist Portfolio Porfolio page Blog page

2x 40% 70% ~All 76%

users who opted in to PNs are customers open app customers are more likely of leading neobrokerage customers expect their apps to
retained than those who don’t [17] within 1 hour from PN [18] to open personalised PNs [19] firms have custom transaction alerts give personalised content [20]
Step 3: Pre-Configure and Adjust PN Center that
can be recognifigured by user
Current Notification Centre is completely switched off,
Users may take a lot of time to configure it & they may either overuse it or underuse it , resulting in bad user experience.

Current Conservative
Growth
User
User

Personalised Tips off on

Kickstart Nudge off on

Watchlist Alert off on

Personalised Education off on Personalised off on

Market Updates off on Recommendations off on

Performance Updates off on Performance Update off on

Feature Highlight off on

Power
User

Market Update

In-App Tutorial off on

Market Alerts off on

Custom Transactional Alerts off on

Personalised Recommendations off on

Personalised Education off on

We plan to pre-configure it based on user segmentation (from onboarding data) this would help save time & also provide the best experience !
 Step 4: Hyperpersonalisation from
user behaviours

User level personalised PNs by finding the right PN type, content, time using past data & any user settings in the app
by using predictive analysis & hyper personalisation engine

Status - Off
Past A/B testing results,
User’s CTR, engagement rate

Find best fit Find content What time in Take Feedback

is enough data Predict the Check status of Use LLMs to
out of 6 PNs specific to user the past has (Check KPIs, use
Start collected for Yes current need of
for the user
this type of PN in Status on
(Ex - Fomo, user clicked on create content feedback PNs)
analytics ? the user PN centre for the PN
given the need Foot in door, etc) PNs

Test on a sample group

or the whole user base
No

Use persona
User level data
based PNs

Real Time
User data
Finish from app
 Finally, adhering to some guardrails can ensure that
we Hook yet do not Spam

First Impressions Avoid Overwhelming Message Length Go Beyond Basics Deeplinking for Relevance
Matter Users Optimization Move beyond simple PNs and Ensure push notifications
Limit push notifications to a
Ensure users receive one or use personalization with user direct users to the relevant
maximum of five per day to Curtail the length of the
more push notifications within elements for engagment page rather than a generic
avoid user fatigue and potential message to 100 characters
the first 90 days landing page
app deletions

95% Churn 30% Delete Apps 55 Characters 4x engagement <8 seconds

if users don’t receive any if users receive excessive is the ideal message length through hyperpersonalization (average internet user attention span)
notifications at all within the advertisements and for the BFSI sector [23] whereas simple perzonalisation has to drive engagement [25]
first 90 days [21] notifications [22]
less than 1% impact [24]
 Prioritise Low Effort PNs for Quick wins,
Test Faster & Scale
Impact
PN Conservative Intermediate Power Total Total
Description Effort
Type (n= 48%) (n=39%) (n=13%) Impact Score

P1 Transactional 2 4 5 3.2 2 5.2 Recommendation

Reinforcement
p2 Alerts 1 3 5 2.3 2 4.3
Updates
Transactional
p3 Updates 2 4 3 3 3 6.0

Informative/ Alerts
p4 1 3 2 1.9 3 4.9
Educational
Informative/
Educational
p5 Reinforcement 3 5 1 3.5 2 5.5

P6 Recommendation 4 5 3 4.3 2 6.3

Ease of Implementation

Impact Increase ->

1 5 Decision Rule: Basis Prioritisation, we first pick the notification Prioritised:
types with Lowest Effort and Highest Impact in First Phase, Reinforcement
post which we can pick the High Impact & HIgh Effort Types Recommendation
1 Effort Decrease -> 3
Updates
Implementation strategy: plan to deliver targeted &
personalised notifications
Optimising before personalisation Implementing Personalisation Post Implementation

70% Delivery rate for fintech in India- Start with 3rd party apps with FCM for Track opt outs
Only 7 out of 10 notifications reach Quick implementation Ensure email promos have
customers. Improving that is required Find features that give maximum benefit nudges to opt in
Ex - Solve for FCM, OEM, Network issues Connect with WhatsApp, email, SMS for a 360 experience
Feedback mechanism
Data Models for hyper-personalisation Track the notifications that
40% to 55% opt outs
Predictive analytics , Hyper personalisation engine are used by a user for more
Mention that we won’t spam you to reduce
Next best action analytics for recommendations personalised notifications in
opt out percentage
A/B testing or multivariate testing to find the highest CTR future (Ex - if a user clicks
more on PNs with
~15% of web users opt for push notifications Inhouse systems educational content, focus
Include Omnichannel experience as a For custom use cases & cost optimisation on that over CTA)
significant number of web users opt for PNs
Feedback PN
Ask how users are feeling
about the app

Blinkx’s partnership with google cloud would enable complex analytics like predictive & Next Best action resulting in hyper-personalisation
for users & a competitive advantage (Found inspiration from headspace [26])
 We can start with one Notification Type and basic
features to test the response, and scale-up progressively

MVP Phase 1 Phase 2

Basis A/B Experiment results

Along with Hyper personalisation,

Subject to re-prioritisation
Objective Cover the basic characteristics of Scale up all the features that
add the features for remaining PNs
the notifications for the top-cases show positive uptick on the NSM
to improve experience further

PN Types Updates Reinforcement Transaction

Recommendation Informative

Characteristics Heurestics based scheduling Dynamic scheduling

Content Copy + Dynamic Copy using

Data connections Generative AI

Onboarding questionnaire Hyper personalisation

for User Segmentation
Using the power of Emotions to choose the right
notifications

Using FOMO to Using Delight to Using contexual nudges

drive action boost engagement to drive engagement
 We are up for queries
References
[1] - Statista - Market Insights - Neobrokers
[2] - Statista - India Equity Investments by Broker Type
[3] - Business Today Article
[4] - Statista - Market Insights
[5] - Statista - Market Insights
[6] - AJMC 2022
[7] - Moengage - 7 Push Notification Campaigns Optimized with AI and Multivariate Testing
[8] -Moengage - 7 Push Notification Campaigns Optimized with AI and Multivariate Testing
[9]-Moengage - 21 Critical Push Notification Statistics for 2023
[10]-Moengage - 21 Critical Push Notification Statistics for 2023
[11]-The value of getting personalization right—or wrong—is multiplying
[12]-The Power of Push Notifications: Engaging and Retaining Mobile App Users
[13]-12 Surprising Push Notifications Stats
[14]-The value of getting personalization right—or wrong—is multiplying
[15]-Duolingo’s ‘streak’ feature drives record 17 million DAUs
[16]-21 Critical Push Notification Statistics for 2023
[17]-Mobile App Push Notifications Impact – Statistics and Trends
[18]- The Power of Push Notifications: Engaging and Retaining Mobile App Users
[19]-The value of getting personalization right—or wrong—is multiplying
[20]-The value of getting personalization right—or wrong—is multiplying
[21]-21 Critical Push Notification Statistics for 2023
[22]-21 Critical Push Notification Statistics for 2023
[23]-41 Web Push Notifications Stats That Marketers Need To Know
[24]-21 Critical Push Notification Statistics for 2023
[25]-What Are Push Notifications? [And the 5 Ways They Can Help You in 2024]
[26]-Real-Time Machine Learning at Headspace
Appendix
Our solution makes certain hypothesis which has to be
tested using A/B tests before launching at full scale
Alternate Approach
Hypothesis Check Condition
(If Not True)

Conversion rate improves Conduct detailed RCA and update

Customised PNs lead to higher conversions
significantly strategy

Users will be willing to take time to fill the onboarding Sign-up rate (not droppping
Move questionnaire to a later stage
questionnaire significantly)

Conversion of event based Check for which user type it is not

Even based triggers give higher conversions
PNs > General PNs working, disable for them

Conversion of certain type of PNs (Hope, FOMO, etc.) leads to Conversion rate for certain Check for other content type
higher conversion emotion is higher (conduct a user research to confirm)

Compare conversion of
Certain time slots work better for certain type of PNs Try a different time slot
different time slots