Razorpay improves its survey response rate by 257% by letting customers fill surveys inside the email

By letting customers fill surveys right inside the inbox, Razorpay is gathering approximately 3X the number of responses they were generating before Mailmodo

Razorpay is a full-stack financial solutions provider. Founded in 2014, it offers core financial products like payment methods, business banking solutions, vendor payouts, payroll, and fraud prevention software. Razorpay’s mission is to make transactions frictionless for SME and enterprise businesses.

The problem statement

Razorpay’s mission is to make transactions frictionless for SME and enterprise businesses.

As Razorpay’s product suite grew steadily, the team needed to understand their audience and their needs better. They wanted to build and bring new offerings to the market and get them into the hands of customers. They needed genuine feedback from their customers at different time intervals.

Normally, Razorpay usually collected customer feedback during their customer service call via a form on the Razorpay dashboard, or from the monthly feedback emails sent out by Razorpay.

The marketing team was inclined towards survey-based email campaigns as it was a well-performing and the most scalable way to get feedback. However, due to the multiple steps and redirections in their current emails, customers would often drop off before completing the survey process.

As is the case with a typical email survey, the numbers they saw were not impressive. They needed more, they needed a better approach.

The solution

The growth marketing team was looking for a way to improve the email experience for its receivers, which would in turn result in higher responses and fill rates. That’s when Subhash stumbled upon AMP.

Since the time I started researching it, AMP looked very promising to me and it just proved its worth after our first experiment ended. I am happy that we could leverage AMP to enhance our customers’ experience and improve our email performance. We plan to continue using AMP for our various email marketing campaigns and surveys.
- Subhash Dash, Growth Marketing, Razorpay

As the team sought to improve the response rate of their survey emails, they found out that an interactive format would allow them to design the entire survey flow inside the email itself. But implementing interactive emails was not an easy task for the marketing team.

That’s where Mailmodo came in. Mailmodo is currently the only email marketing platform that enables both creating and sending AMP emails which made it the obvious choice for Razorpay.

Razorpay chose to implement AMP emails through Mailmodo which enabled interactive surveys inside the mail body. This meant that a user could fill the form within the email, without going to a different window or clicking through multiple steps.

The results

We saw a massive 250% increase in responses to our NPS survey emails. Our merchants loved the email as it enabled them to share their thoughts with us without even getting redirected once.
* - Subhash Dash, Growth Marketing, Razorpay*

Unsurprisingly, the results were phenomenal!

The power of AMP to reduce redirections and provide a built-in survey led to a 257% increase in email performance for Razorpay.

On opening the AMP email, users were greeted with an interactive and dynamic questionnaire. This enabled the company to receive feedback from its customers quickly, which was incredibly enriching - both for the product team and the marketing team.

Going forward

The AMP journey for Razorpay did not end here. They started experimenting with AMP email campaigns for two different objectives.

Lead generation:

The existing email campaign required customers to click on the form, go to a new window, and fill out the required details. The additional steps led customers to drop off without completing the full process.

Razorpay, along with Mailmodo, designed an AMP framework for Razorpay Thirdwatch, an AI-driven solution that helps online sellers flag suspicious orders and prevent Return-To-Origin and Cash-On-Delivery fraud.

The team needed a way to collect customers’ interest in the product. With the new set of AMP emails in action, the Razorpay Thirdwatch team saw an 87% increase in lead generation which helped them convert more merchants to the platform.

Product awareness:

Razorpay Capital is a product that deals with cash flow challenges for businesses by financing their business growth with instant settlements, line of credit, corporate credit cards, and quick business loans.

The team needed emails that could help in educating and engaging their customers better. They chose to go the AMP route again to design visually appealing emails that used carousels to explain the benefits of Razorpay Working Capital Loans.

The AMP emails saw a 45% increase in the engagement rate for Razorpay Capital’s product awareness campaign.

With the excellent results that AMP delivered, the Razorpay team is now looking for more use cases with Mailmodo where this technology could help drive their business objectives.

250%

increase in survey response rate

78%

increase in lead conversion rate


Subhash_Dash.png

We saw a massive 250% increase in responses to our NPS survey emails. Our merchants loved the email as it enabled them to share their thoughts with us without even getting redirected once.

Subhash Dash

Growth Marketing

Razorpay