Story Highlights
- Richer customer insights increase product adoption by 18%: With easy-to-access data in Snowflake, Sharesies now better understands customers, which has helped increase adoption of its auto-invest capability by 18%.
- Optimized marketing campaigns yield 21% cost savings: By using Snowflake to tweak the timing of its KiwiSaver marketing campaign, Sharesies brought in the same amount of traffic while cutting costs by one-fifth.
- Cortex AI unlocks game-changing AI/ML functionality: Thanks to Snowflake Cortex AI’s embedded AI/ML features, Sharesies can add cutting-edge capabilities to its platform to fuel innovation today and tomorrow.
Video Transcript
Sharesies was founded back in 2017 with the purpose of creating financial empowerment for anyone, and that means if you've got five dollars or five million dollars giving you the same money opportunities. Sharesies has got around 150 employees, and we have 670,000 investors across New Zealand and Australia.
We really believed in this problem that it was way too hard to invest. We felt like it's something that technology could change and that we could also design a way where people would feel at home in this world and a brand that they could relate to.
Everyone at Sharesies has access to our data. Our executive leadership team relies on that data to make informed decisions.
Our marketing teams use it to better target campaigns. We initially went with Snowflake because it's just so easy to use, self managed, and we get to spend the time developing stuff that actually matters to the business instead of just managing infrastructure.
We have so much data that we capture now with Sharesies, but really it's about surfacing the right data, the most valuable data, and it's about surfacing it in a way that actually provides genuine value. Having access to real time data across the business helps us as a business unit make good decisions around how our customers are responding to different things and being agile in the way that we are evolving the products and services that we're offering.
As we continue to roll out new different products, we stay really close to our customers and understand through our data how they're responding to those, if there's any barriers for them to getting started.
We look at all of that structured data through Snowflake, we've been able to make that really accessible and easy to access.
Many of our customers are dollar cost averaging, investing every single payday in Snowflake, we were able to increase adoption of auto invest by 18%.
Sharesies started off in that B2B space as a platform for retail shareholders, and now we have evolved to have two sides to the business, the B2C side, the retail side, and also the B2B, the business side, both valuable to our customers, in this case, companies, as well as being valuable to Sharesies, ensuring that we can deliver on our purpose profitably.
Sharesies Open is a product that we built so that companies can connect directly with Sharesies’ retail investor base. We've now been in the market for six months, and we have one fifth of NZX listed companies using that product.
We're seeing quite a few improvements across the business because of the Snowflake AI Data Cloud.
We've seen a month on month increase of about 56% since we launched that. So we're increasing revenue at Sharesies with our data because of the Snowflake AI Data Cloud.
Recently on our KiwiSaver marketing campaign, so that's a superannuation product here in New Zealand. We were able to tweak the timing of that campaign to see a 21% increase in efficiency over, 21% less cost to get the same amount of traffic effectively. So Snowflake's just constantly bringing out new features, it's just it's always improving. In particular, I'm really looking forward to Snowflake Cortex. We have such a strong data foundation at the moment. Being able to have embedded machine learning and AI functions within our Snowflake environment, it's just gonna be a game changer. It really is.
If I describe the experience with Snowflake, so far for me, it's that it is a technology that just works. It's what I believe to be most valuable. I look at what our team puts out, the pace of what they put out, the quality they put out, so clearly it works for them as well.
Our experience with Snowflake has been really positive. They've been a true partner to us as we've grown as an organization and as our data capabilities have grown too.
I just highly recommend Snowflake. It’s such a good asset to this company.
