UTEX Case Study: +15.2% Increase in Repeat Asset Purchase Conversion in Trading

Client
UTEX is an investment platform that combines trading U.S. stocks and cryptocurrencies within a single interface. It is designed for retail traders and operates for an international audience.

Platform & Channels
Platform: Maestra
Channels: Email, SMS, Telegram

Objectives

When UTEX approached us in April 2025, the brand’s CRM communications were practically non-existent. The team sent occasional mass emails with market updates.

At the same time:

• there were no behavioral triggers
• segmentation was not used
• CRM was not working with the customer lifecycle

Our task was to build a full-fledged CRM system that would:

• support users after registration
• encourage them to start trading
• bring customers back after churn
• increase the number of active traders

It is important to note that all communications had to be implemented in two languages — Russian and English — since the brand operates both in Russia and internationally across dozens of countries.

Project Specifics

CRM in investment products operates under different rules.

If in e-commerce a user simply postpones a purchase, in trading they may:

• lose money in a single trade
• become afraid of risk and leave
• withdraw funds after the first trade
• use the platform only for bonuses

At the same time, the English-speaking investment services market is already highly saturated. The role of CRM in this project was not just to send emails, but to maintain user activity and bring them back into trading.

Expert Commentary

What We Did

Our work consisted of several stages:

• identifying key churn points and segmenting customers
• technical integration to collect all user data into Maestra
• building a CRM strategy and implementing it across several channels: email, Telegram messenger, and SMS

Below is more detail on each stage.

Identifying Churn Points and Segmentation

As a first step, we analyzed user behavior, identified key churn points, and segmented customers using a customized RFM model adapted for the project.

The following parameters were used for RFM analysis:

• recency of the last trade
• frequency of ticker purchases
• frequency of account top-ups
• total deposit amount
• trading turnover volume
• account balance

We identified several critical moments in user behavior:

• registered but did not start trading
• made a first trade and withdrew funds
• experienced liquidation
• stopped trading after some time
• deposited funds but did not make a purchase
• traded with large volumes but then stopped

Based on this data, we built a CRM strategy around behavioral events. This allowed us to respond to user actions at the right moment and increase the likelihood of their return to trading.

Technical Integration with Maestra

Maestra was used as the CRM platform. We set up integration between CRM and the UTEX platform to receive data on user actions.

After integration, we had access to the following data for each customer:

• account top-ups
• asset purchases
• balance
• on-site activity
• viewed tickers, etc.

This enabled us to launch communications based on real user behavior. For example, emails started to include dynamic data — tickers that the user viewed during a session or most frequently.

OR – 39,1 %
CTOR – 6,9 %

Building the CRM Strategy and Its Implementation

Telegram as Part of the User Journey

Accessing the platform via the website requires a VPN. To simplify trading for users, the UTEX team implemented Telegram Mini Apps — a web application embedded in the messenger.

For CRM, this created an additional communication opportunity. As a result, Telegram became not just a communication channel, but part of the user journey.

We set up:

• Telegram pushes via user ID for authorized users
• Telegram pushes via Telegram ID for users who entered the bot but did not register or authorize
• integration of Telegram into trigger scenarios
• mass Telegram notifications about important updates

Results of Telegram Communications

Bulk Telegram pushes

CTR — 0.46%
Purchase conversion (24h) — 0.04%

Triggered Telegram push

CTR — 7,1%

International SMS Communications

UTEX’s audience is distributed across more than 60 countries. To reach the maximum number of users, we set up international SMS delivery via Infobip and Notificore. This channel required separate work:

• different countries have restrictions on message content
• some operators require sender name registration
• in certain countries, custom routing must be configured

Despite these limitations, SMS showed an average CTR of 5.2% over three months.

CTR — 10,9 % 

CTR —  5,4 %

Trigger-Based Communication System

Before the project, trigger-based communications were not used — only transactional emails were sent (e.g., deposit or purchase status). Now the system includes:

• 14 automated scenarios
• 11,000–12,000 triggered messages sent monthly

Key CRM Scenarios

Welcome Series

After registration, users enter a welcome scenario consisting of 12 emails sent over three weeks. These emails gradually introduce the platform to users who are not yet ready to deposit funds or purchase tickers. This is important in investment services: new users need time to understand the product and start trading. The goal of communication was:

• to provide value
• remind users about the platform
• bring them back

Direct influence on the purchase of securities is limited, as much depends on market conditions.

OR – 32,7 %
CTOR –  26,2 %
CR – 0,5 %

OR – 10,7 %
CTOR –  6,7 %

OR – 12,1 %
CTOR –  9,8 %
CR – 0,2 %

Abandoned View

If a user views a ticker but does not make a trade, it does not necessarily mean a loss of interest. In trading, this behavior is normal: users monitor the market, revisit assets, and take time before making decisions. Therefore, our task was not just to remind users about the viewed ticker, but to return them to the decision-making stage without creating noise.

What we considered:

1. Minimizing the risk of over-communication (We did not react to every view. Communication was triggered only if the user did not trade for more than 4 days).
2. Personalization by trading type (We adapted content depending on whether the user interacted with stocks or crypto).
3. Scenario-based logic instead of a single reminder. We built a sequence of 4 communications:

• reminder about the viewed ticker
• alternative instruments
• educational content for beginners
• new trading ideas

This approach allowed us to work not only with a specific asset but with overall motivation to trade. Conversion from delivered emails: 0.5% — a strong result for this niche.

OR – 39,1 %
CTOR – 6,9 %

Post-Liquidation Communications

Liquidation is one of the most stressful moments in trading. We created a dedicated scenario triggered when a user does not return after liquidation. The scenario:

• reduces anxiety
• explains what happened
• helps users return more consciously
• selectively offers a bonus

This helps retain trust after a negative experience.

Reactivation

Reactivation is one of the key priorities. Trigger: no trading activity for 14 days. The scenario includes:

• exploring additional products (if funds remain)
• tracking changes in frequently viewed tickers
• highlighting high-performing assets
• offering alternative strategies (e.g., dividend investing)
• providing a personalized bonus (for selected users)

Expert Commentary

Results

CRM communications evolved from isolated campaigns into a full interaction system across all lifecycle stages.

At the moment:

• 14 trigger scenarios implemented
• 11–12K automated messages monthly
• 3 channels: email, SMS, Telegram
• coverage across 60+ countries

Business impact:

• +15.2% repeat asset purchase conversion
• +10.7% repeat deposit conversion
• +5.3% first purchase conversion
• 88.2% of inactive users returned within 24 hours after opening an email
• 37.8% made a deposit within 24 hours

Growth Potential

Planned next steps:

• new scenarios for futures trading
• deeper segmentation by activity and trading strategies
• further development of personalized scenarios

Client Feedback