Douugh’s strong growth continues across key metrics with target market expanded to accelerate growth
Following the completion of a broad market research study commissioned we've reprioritized the feature roadmap and adjusted its marketing strategy to more accurately service and target the needs of the ~160 million Americans (47% of the population), who are in desperate need of help to better budget and manage their money.
Our research shows that this mass-market segment struggles to afford a $4001 emergency expense without going into debt. They are living paycheck to paycheck and need assistance to budget & save their money.
January platform metrics
Following on from the strong growth delivered in Q2, the Company continued to see steady growth in January across key platform KPIs following a pullback in marketing spend, as many new customers entered the free trial period and started to familiarise themselves and use the service, with Douugh’s in-app member-get-member service continuing to be the highest performing distribution channel. Douugh is putting more focus into this to expand the offering to better incentivize the right platform behaviors in order to maximize its revenue opportunity (increase deposits and card spend).
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