Audience Segmentation for Finance App Marketers | AppsFlyer
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Audience Segmentation for Finance App Marketers

Jillian Gogel Jillian Gogel Sep 15, 2019

Whether you’re working with a small mobile-first startup or an established global bank, ignoring the demand from app users for highly personalized, contextually-relevant mobile experiences can make or break the success of your finance app. Among other necessary setup, mobile marketers need to use attribution providers and other third-party tools to map out and measure granular activity parameters based on their target user groups.

What happens next? After gathering data about your users’ pre- and post-install activity, it is important to move from insight to action and prepare specific audience segments that will, first, define your most valuable users and, then, serve as a basis for future acquisition. As detailed in our comprehensive guide, Mobile Attribution and Marketing Analytics for Finance Apps, audiences can and should be used for many purposes; for example, as a finance app, you might: 

  • Drive users from owned media to specific funnel touchpoints. Leverage owned media channels outside of the app by targeting users who began conversion on the website, email, or other channels to complete conversion within the app. This is most relevant for banks since mobile-first companies don’t always have non-app channels available.
finance app email marketing
finance app suite
  • Identify high value users for engagement with multiple app functions. Create segments of users who are registered for and/or engaged with multiple products in the same family of apps (e.g. an investment, retirement, and banking app with the same company) to identify and acquire other high value users likely to engage similarly.
  • Build lookalike audiences. Improve your user acquisition by targeting prospects who “look” like your best users – those that completed account registration, linked their bank account, set up auto or scheduled payments, etc. These audiences focus on building high engagement habits in users.
finance app audience segmentation
finance app onboarding
  • Encourage information-rich engagement via in-app guidance systems. Harness an in-app guidance or “coaching” system to encourage engagement, then build a new audience segment around this group for prospects who may be more likely to provide more information and have higher long term retention.  
  • Segment based on exclusion parameters. Remove users that you are targeting on Network A, and would not like to target on Network B. Or create an audience segment of problematic users (e.g. those whose loan applications are constantly rejected) and exclude them from your re-engagement campaigns.
finance app loans segmentation

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Another important use of audience segmentation is the creation of split audiences for determining the incremental performance and growth of each media source, as well as performing A/B testing and pushing product or service features. For the purposes of incremental and A/B testing, these split audiences can be based on the following factors, among others:

  • Action: Users who installed the app but did not yet make a purchase or convert 
  • Exposure: Users who clicked an ad but did not install
  • Geographical distribution: Users located in a specific country


With incrementality and A/B testing, you can create two groups of users, a test and control, across different networks and see which network, campaign, ad, and/or creative results in a more positive business impact. Likewise, incrementality testing informs whether or not adding a new network to your existing portfolio has a true incremental impact. 



As in acquisition, your granular in-app event user data can be directly applied to create audience segmentations for re-engaging users. Push notifications, emails, and other owned media are most often used first in re-engagement campaigns given their low costs and ability to reach users more easily than paid methods. 

Below are some examples of audience segments for re-engagement: 

Drive users to funnel completion. As users move through the conversion funnel, it is inevitable that they will drop off at various stages along this journey. Create segments for each of the actions users should complete in order to find those that aren’t progressing and drive them along your funnel to conversion.

Recover or deprioritize uninstalled users. Target users who completed a certain number of lower funnel actions but who recently uninstalled your app with custom creative to drive re-installs. Conversely, you might choose to lower the priority of retargeting campaigns focused on these users and invest in audiences who are more likely to guarantee a higher value. 

Bottom Line

Particularly true in the finance vertical, with both acquisition and retargeting efforts, it is important to both gather data about and target users based on different stages along the conversion funnel. That is, a single user’s journey should be measured holistically across all platforms, devices, and channels, but marketing engagement with them should be customized and personal, differing by how much they have already engaged with your app. 

Don’t just take our word for it, though. As a closing thought, here is a best practice tip from Gazprombank, one of Russia’s leading banks: 

“To reach potential clients, we picked out existing users who are inclined to make deposits and used them as a basis for lookalike audience segments, as well as remarketing campaigns for those who successfully registered and showed intent towards any of the deposits. Additionally, we used special creatives for separate user groups based on their preferences, age, gender, and other factors.” – Elisey Zakharov, Digital Marketing Executive Director, Gazprombank


Happy segmenting and best of luck!