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Tuesday, 4 July 2023, 14:00 HKT/SGT
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Source: CleverTap
Only 42% of newly signed up travel app users transact in the first month: CleverTap Benchmark Report

<p class="MsoBodyText" style="margin-right: 5.1pt; line-height: 115%; text-align: justify;"><span style="font-size: 10pt;"><strong style="mso-bidi-font-weight: normal;"><span lang="EN-US">Mountain <span style="letter-spacing: -.2pt;">View, </span>Calif, & Mumbai, India, July 4, 2023 - (ACN Newswire) - </span></strong><span lang="EN-US"><a href="https://clevertap.com/%27"><span style="color: #1154cc; letter-spacing: -.2pt;">CleverTap</span></a><span style="color: #1c1b1c; letter-spacing: -.2pt;">, </span>the all-in-one engagement platform<span style="color: #1c1b1c;">, released its industry benchmark </span><a href="https://clevertap.com/travel-apps-industry-benchmark-report/?utm_source=google&utm_campaign=INDIA_EN_Brand-Search_LG&utm_medium=ppc&utm_term=clevertap"><span style="color: #1154cc;">report for travel apps</span></a><span style="color: #1c1b1c;">. In the rapidly evolving mobile apps landscape, staying ahead of the competition is crucial for marketers. Therefore, benchmarking performance has become imperative to stay ahead of competition. </span><span style="letter-spacing: -.15pt;">Travel </span>app marketers will be able to boost conversions and drive higher app activity through the report's insights.</span></span></p>
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<p class="MsoBodyText" style="margin-right: 5.1pt; line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 10pt;">While 80% of travel app users that sign up, do so within 31 seconds, only 42% make a transaction within the first month. This is markedly lower than fintech's 95% and foodtech's 65% signup to conversion rate. Studies have found that users do not see travel apps as being very different from interacting with travel agents. This means that while they may readily sign up for an app; the process of making a transaction may carry the same reservations as with old-school travel agents. Overcoming this challenge requires travel app marketers to place special emphasis on their retention strategies by going above and beyond in providing meaningful value to customers.</span></p>
<p class="MsoBodyText" style="margin: 0.15pt 0mm 0.0001pt; text-align: justify;"><span lang="EN-US" style="font-size: 10pt;"> </span></p>
<p class="MsoBodyText" style="margin-right: 4.95pt; line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 10pt;">CleverTap analyzed 17.9 billion push notifications, 3.8 billion emails, 919.1 million in-app messages, and a total of 64.17 million monthly active users (MAUs). The findings reflect data collected from Asia-Pacific, Europe, India, Latin America, Middle-East, and North America. These include:</span></p>
<p class="MsoBodyText" style="margin: 0.2pt 0mm 0.0001pt; text-align: justify;"><span lang="EN-US" style="font-size: 10pt;"> </span></p>
<p class="MsoListParagraph" style="margin-right: 5.1pt; line-height: 115%; text-align: justify;"><span style="font-size: 10pt;"><!-- [if !supportLists]--><span lang="EN-US" style="letter-spacing: -.85pt;"><span style="mso-list: Ignore;">?<span style="font-style: normal; font-variant: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';"> </span></span></span><!--[endif]--><strong style="mso-bidi-font-weight: normal;"><span lang="EN-US">Install to sign-up rate: </span></strong><span lang="EN-US">1 in 4 users that install travel apps (28%) end up signing up within the first<span style="letter-spacing: -.2pt;"> </span>week.</span></span></p>
<p class="MsoListParagraph" style="margin-right: 4.95pt; line-height: 115%; text-align: justify;"><span style="font-size: 10pt;"><!-- [if !supportLists]--><span lang="EN-US" style="letter-spacing: -.85pt;"><span style="mso-list: Ignore;">?<span style="font-style: normal; font-variant: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';"> </span></span></span><!--[endif]--><strong style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="letter-spacing: -.1pt;">Average </span><span lang="EN-US">time to sign-up: </span></strong><span lang="EN-US">80% of the users that sign-up, do so within 31 seconds of launching the app for the first<span style="letter-spacing: -.4pt;"> </span>time.</span></span></p>
<p class="MsoListParagraph" style="margin-right: 4.9pt; line-height: 115%; text-align: justify;"><span style="font-size: 10pt;"><!-- [if !supportLists]--><span lang="EN-US" style="letter-spacing: -.85pt;"><span style="mso-list: Ignore;">?<span style="font-style: normal; font-variant: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';"> </span></span></span><!--[endif]--><strong style="mso-bidi-font-weight: normal;"><span lang="EN-US">Sign-up to conversion rate: </span></strong><span lang="EN-US">42% of newly signed-up users make a transaction in the first<span style="letter-spacing: -.1pt;"> </span>month.</span></span></p>
<p class="MsoListParagraph" style="margin-right: 5pt; line-height: 115%; text-align: justify;"><span style="font-size: 10pt;"><!-- [if !supportLists]--><span lang="EN-US" style="letter-spacing: -.85pt;"><span style="mso-list: Ignore;">?<span style="font-style: normal; font-variant: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';"> </span></span></span><!--[endif]--><strong style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="letter-spacing: -.1pt;">Average </span><span lang="EN-US">time to to convert: </span></strong><span lang="EN-US">36% of newly signed-up users move from onboarding to deeper-in-the-funnel engagement within a week of<span style="letter-spacing: -.6pt;"> </span>onboarding.</span></span></p>
<p class="MsoListParagraph" style="margin-right: 5.6pt; line-height: 115%; text-align: justify;"><span style="font-size: 10pt;"><!-- [if !supportLists]--><span lang="EN-US" style="letter-spacing: -.05pt; mso-bidi-font-weight: bold;"><span style="mso-list: Ignore;">?<span style="font-style: normal; font-variant: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';"> </span></span></span><!--[endif]--><strong style="mso-bidi-font-weight: normal;"><span lang="EN-US">Session frequency: </span></strong><span lang="EN-US">On average, travel app users launch their app around 12 times a month.</span></span></p>
<p class="MsoListParagraph" style="margin-right: 5.5pt; line-height: 115%; text-align: justify;"><span style="font-size: 10pt;"><!-- [if !supportLists]--><span lang="EN-US" style="letter-spacing: -.05pt; mso-bidi-font-weight: bold;"><span style="mso-list: Ignore;">?<span style="font-style: normal; font-variant: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';"> </span></span></span><!--[endif]--><strong style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="letter-spacing: -.1pt;">Average </span><span lang="EN-US">week 1 retention rate: </span></strong><span lang="EN-US">13% of newly signed-up users make repeat transactions in the first<span style="letter-spacing: -.25pt;"> </span>week.</span></span></p>
<p class="MsoListParagraph" style="line-height: 115%; text-align: justify;"><span style="font-size: 10pt;"><!-- [if !supportLists]--><span lang="EN-US" style="letter-spacing: -.05pt; mso-bidi-font-weight: bold;"><span style="mso-list: Ignore;">?<span style="font-style: normal; font-variant: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';"> </span></span></span><!--[endif]--><strong style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="letter-spacing: -.1pt;">Average </span><span lang="EN-US">click through rate for push notifications: </span></strong><span lang="EN-US">On average, 5.29% of Android users and 3.97% of iOS users will click on and interact with push<span style="letter-spacing: -1.75pt;"> </span>notifications.</span></span></p>
<p class="MsoListParagraph" style="margin-right: 5.5pt; line-height: 115%; text-align: justify;"><span style="font-size: 10pt;"><!-- [if !supportLists]--><span lang="EN-US" style="letter-spacing: -.45pt;"><span style="mso-list: Ignore;">?<span style="font-style: normal; font-variant: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';"> </span></span></span><!--[endif]--><strong style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="letter-spacing: -.1pt;">Average </span><span lang="EN-US">click through rate for in-app notifications: </span></strong><span lang="EN-US">The click through rate for travel in-app notifications is<span style="letter-spacing: -.2pt;"> </span>22.8%.</span></span></p>
<p class="MsoListParagraph" style="margin-right: 0mm; text-align: justify;"><span style="font-size: 10pt;"><!-- [if !supportLists]--><span lang="EN-US" style="letter-spacing: -.45pt;"><span style="mso-list: Ignore;">?<span style="font-style: normal; font-variant: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';"> </span></span></span><!--[endif]--><strong style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="letter-spacing: -.1pt;">Average </span><span lang="EN-US">email open rate: </span></strong><span lang="EN-US">35.17% users open emails sent by travel app<span style="letter-spacing: -1.8pt;"> </span>companies</span></span></p>
<p class="MsoListParagraph" style="margin-top: 1.9pt; line-height: 115%; text-align: justify;"><span style="font-size: 10pt;"><!-- [if !supportLists]--><span lang="EN-US" style="letter-spacing: -.9pt; mso-bidi-font-weight: bold;"><span style="mso-list: Ignore;">?<span style="font-style: normal; font-variant: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';"> </span></span></span><!--[endif]--><strong style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="letter-spacing: -.1pt;">Average </span><span lang="EN-US">Stickiness Quotient: </span></strong><span lang="EN-US" style="letter-spacing: -.15pt;">Travel </span><span lang="EN-US">apps have a stickiness quotient of 18%, that indicates less than one-fifth of monthly active users (MAUs) consistently return to the app.</span></span></p>
<p class="MsoListParagraph" style="margin-top: 1.9pt; line-height: 115%; text-align: justify;"><span style="font-size: 10pt;">"With more than a billion travel app users today, brands must emphasize retention more than ever. Sometimes a slight nudge here, a small reminder there may be enough to get users to complete unfulfilled transactions or re-engage with the app. But to maximize customer lifetime value in the long term, marketers need to be agile and identify weak spots within the app's metrics proactively." said Jacob Joseph, VP � Data Science, CleverTap. "Our benchmark report spans billions of data points including push notifications, emails and in-app notifications � giving marketers a holistic view of the industry. Coupled with our world leading platform which spans the entire lifetime of a customer, we are confident this will equip marketers with the right tools to raise the bar even higher."</span></p>
<p class="MsoListParagraph" style="margin-top: 1.9pt; line-height: 115%; text-align: justify;"><strong><span lang="EN-US" style="font-size: 10pt;">About CleverTap</span></strong></p>
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<p class="MsoBodyText" style="margin: .35pt 0mm .0001pt 0mm;"><span style="font-size: 10pt;"><strong style="mso-bidi-font-weight: normal;"> </strong></span></p>
<p class="MsoBodyText" style="margin-right: 4.4pt; line-height: 115%;"><span lang="EN-US" style="font-size: 10pt;">CleverTap is the all-in-one customer engagement platform that helps brands personalize and optimize all consumer touch points to improve user engagement, retention, and lifetime value. It's the only solution built to address the needs of retention and growth teams, with audience analytics, deep-segmentation, multi-channel engagement, product recommendations, and automation in one unified product.</span></p>
<p class="MsoBodyText" style="margin: .15pt 0mm .0001pt 0mm;"><span lang="EN-US" style="font-size: 10pt;"> </span></p>
<p class="MsoBodyText" style="margin-right: 30.0pt; line-height: 115%;"><span lang="EN-US" style="font-size: 10pt;">The platform is powered by TesseractDB� � the world's first purpose-built database for customer engagement, offering both speed and economies of scale.</span></p>
<p class="MsoBodyText" style="margin: .2pt 0mm .0001pt 0mm;"><span lang="EN-US" style="font-size: 10pt;"> </span></p>
<p class="MsoBodyText" style="margin-right: 1.4pt; line-height: 115%;"><span lang="EN-US" style="font-size: 10pt;">CleverTap is trusted by 2000 customers, including Electronic Arts, TiltingPoint, Gamebasics, Big Fish, MobilityWare, TED, English Premier League, TD Bank, Carousell, AirAsia, Papa John's, and Tesco.</span></p>
<p class="MsoBodyText" style="margin: .15pt 0mm .0001pt 0mm;"><span lang="EN-US" style="font-size: 10pt;"> </span></p>
<p class="MsoBodyText" style="line-height: 115%;"><span lang="EN-US" style="font-size: 10pt;">Backed by leading investors such as Peak XV Partners, Tiger Global, Accel, and CDPQ the company is headquartered in Mountain View, California, with presence in San Francisco, New York, S�o Paulo, Bogota, London, Amsterdam, Sofia, Dubai, Mumbai, Singapore, and Jakarta.</span></p>
<p class="MsoBodyText" style="margin: .15pt 0mm .0001pt 0mm;"><span lang="EN-US" style="font-size: 10pt;"> </span></p>
<p class="MsoBodyText" style="margin-top: .05pt;"><span style="font-size: 10pt;"><!-- [if gte vml 1]><v:line id="_x0000_s1026"
style='position:absolute;left:0;text-align:left;z-index:15728640;
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</v:line><![endif]--><!-- [if !vml]--><span style="mso-ignore: vglayout; position: absolute; z-index: 15728640; left: 0px; margin-left: 338px; margin-top: 130px; width: 122px; height: 3px;"><img src="file:///C:/Users/bk202/AppData/Local/Temp/msohtmlclip1/01/clip_image001.gif" alt="" width="98" height="2"></span><!--[endif]--><span lang="EN-US">For more information, visit <a href="http://clevertap.com/"><span style="color: #1154cc; text-decoration: none; text-underline: none;">clevertap.com</span></a> or follow on <a href="https://www.linkedin.com/company/clevertap/"><span style="color: #1154cc;">LinkedIn</span></a> and <a href="https://twitter.com/CleverTap"><span style="color: #1154cc;"> Twitter</span></a>.</span></span></p>
<p class="MsoBodyText" style="margin-top: .05pt;"><strong><span style="font-size: 10pt;">Forward-Looking Statements</span></strong></p>
<p class="MsoBodyText" style="margin: .35pt 0mm .0001pt 0mm;"><strong><span style="font-size: 10pt;"> </span></strong></p>
<p class="MsoBodyText" style="margin-right: 4.95pt; text-align: justify; text-justify: inter-ideograph; line-height: 115%;"><span lang="EN-US" style="font-size: 10pt;">Some of the statements in this press release may represent <span style="letter-spacing: -.2pt;">CleverTap's </span>belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. <span style="letter-spacing: -.2pt;">CleverTap </span>cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press<span style="letter-spacing: -2.0pt;"> </span>release.</span></p>
<p class="MsoBodyText" style="margin: .2pt 0mm .0001pt 0mm;"><span lang="EN-US" style="font-size: 10pt;"> </span></p>
<p class="MsoBodyText" style="margin-right: 5.0pt; text-align: justify; text-justify: inter-ideograph; line-height: 115%;"><span lang="EN-US" style="font-size: 10pt;">Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts,<span style="letter-spacing: 2.7pt;"> </span>unusual<span style="letter-spacing: 2.7pt;"> </span>catastrophic loss events, <span style="letter-spacing: -.2pt;">war, </span>political <span style="letter-spacing: -.15pt;">instability, </span>changes in government </span><span lang="EN-US" style="font-size: 10pt;">policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. <span style="letter-spacing: -.2pt;">CleverTap</span><span style="letter-spacing: 2.65pt;"> </span>does not make any representation or <span style="letter-spacing: -.15pt;">warranty, </span>express or implied, as to the <span style="letter-spacing: -.15pt;">accuracy, </span>completeness or updated or revised status of such statements. Therefore, in no case whatsoever will <span style="letter-spacing: -.2pt;">CleverTap </span>and its affiliate companies be liable to anyone for any decision made or action taken in conjunction.</span></p>
<p class="MsoBodyText" style="margin-right: 5.0pt; text-align: justify; text-justify: inter-ideograph; line-height: 115%;"><strong><span style="font-size: 10pt;">For more information:</span></strong></p>
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<p class="MsoBodyText" style="margin: 0.35pt 0mm 0.0001pt; text-align: justify;"><strong><span style="font-size: 10pt;"> </span></strong></p>
<p class="MsoBodyText" style="text-align: justify;"><span lang="EN-US" style="font-size: 10pt;">SONY SHETTY</span><br><span lang="EN-US" style="font-size: 10pt;">Director, Public Relations, CleverTap</span><br><span lang="FR" style="font-size: 10pt;">+91 9820900036</span><br><span lang="EN-US" style="font-size: 10pt;"><a href="mailto:sony@clevertap.com"><span lang="FR" style="color: windowtext; mso-ansi-language: FR; text-decoration: none; text-underline: none;">sony@clevertap.com</span></a></span></p>
<p class="MsoBodyText" style="margin: 0.3pt 0mm 0.0001pt; text-align: justify;"><span lang="FR" style="font-size: 10pt;"> </span></p>
<p class="MsoBodyText" style="margin-top: 0.05pt; text-align: justify;"><span lang="FR" style="font-size: 10pt;">IPSHITA BALU</span><br><span lang="FR" style="font-size: 10pt;">Consultant<br>Archetype</span><br><span lang="EN-US" style="font-size: 10pt;">+91 95901 11798</span><br><span lang="EN-US" style="font-size: 10pt;"><a href="mailto:ipshita.balu@archetype.co"><span style="color: windowtext; text-decoration: none; text-underline: none;">ipshita.balu@archetype.co</span></a></span></p>

Topic: Press release summary
Source: CleverTap

Sectors: Media & Marketing, Retail & eCommerce, Travel & Tourism, Wireless, Apps, Advertising, Digitalization, Artificial Intel [AI]
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