Summary
The campaign took Stashfin to new heights with an impactful media campaign, boosting app installs to 10 million+ and tripling users. With the aim of getting more app installs, in-app actions, and brand recognition, the media team leveraged Google Ads and YouTube, tackling the challenge of reducing CPC while increasing conversions. The outcome? Astonishing results: 25% monthly increase in installs, a 20% boost in disbursements, and a conversion rate surge from 4% to 15%.
Challenge
Challenges The objective of this campaign was to : Drive maximum app installs and in-app actions. Increase brand awareness and recognition. The paid media team worked diligently to develop a comprehensive strategy to achieve their client's marketing objectives. They identified various channels that would be effective in driving maximum app installs and in-app actions, such as Google Ads, YouTube, and Discovery campaigns. By leveraging these channels, they could reach a broader audience and drive more traffic to the client's platform.
Objective
With the increasing availability of digital lending platforms, it is expected that the personal loan industry in India will continue to grow in the coming years. To achieve the strategic objective of driving maximum app installs and in-app actions while targeting the right audience. The team identified various channels that would be effective in driving maximum app installs and in-app actions, such as Google Ads, YouTube, and Discovery campaigns. The strategically devised campaigns with right budget and right targeting not only drove app installs but also raised brand awareness, leading to greater recognition and revenue for Stashfin. We achieved some remarkable results like an MAU of 2.5 MN and more.
Strategy
The challenge was to reduce the cost per click while increasing conversions. We implemented a single keyword ad group strategy with an exact match for the Dynamic Search Brand Campaign. This approach helped target who were more likely to convert, resulting in more app installs & in-app actions. For YouTube, we devised separate campaigns for each type of audience & used custom goals to optimize the campaign on in-app events. This approach enabled to deliver relevant ads to each audience segment & track their engagement to optimize the campaign. We targeted in-market & affinity audiences & retargeted app downloaders, ensuring that the brand reached the right people at the right time. Maintaining the CAC was a key challenge, particularly while scaling. It was crucial to ensure that the CAC remained stable or decreased despite expanding the reach & impact of marketing efforts. This required monitoring, optimization, & strategic allocation of resources to maximize efficiency & minimize the impact on the CAC as we scaled the campaigns. To drive app installs, we implemented universal app campaigns that leveraged various Google properties, including Discovery, Display, YouTube, & Search. This approach allowed to maximize visibility & reach across different channels, capturing the attention of potential users at various touchpoints. By utilizing Discovery, we could showcase the app to users while they were exploring personalized content. Display ads helped engage audiences across websites & apps. YouTube played a significant role in promoting the app through video ads, capturing user attention & fostering awareness. Search ads ensured that the app appeared prominently in relevant search results, increasing discoverability. We optimized our strategy by focusing on In-App Actions to meet the disbursals target. These strategies aligned our efforts with the desired outcome & driving positive results.
Data
One of the major insights for the campaign was the user behaviour. We planned and worked around the user behaviour which helped us achieve the results. Considering the nature of the product and audience behaviour, we deployed effective Media Mix. We used persuading ad copies that highlighted our product's USPs which focused on benefits like low interest rates, fast loan disbursals and approvals, flexible repayment options and suggestive application of the same. Within the App Campaigns, we A/B tested different creatives, call-to-action variations, we identified the most effective creative approaches in unison with targeting tactics. We got very good response from creatives of a Brand Collaboration done with a Movie ‘Tu Jhuti Mai Makkar' which garnered high CTRs and eventually helped us scale campaigns for disbursement during the release of the movie. We ran customized ad messages that addressed user's previous interactions and where they dropped off from the journey in the remarketing campaign.
Solution
Results
The campaigns not only drove app installs but also raised brand awareness, leading to greater recognition and revenue for Stashfin. With the strategic thinking and hard work of the team, Stashfin achieved its marketing objectives and became one of India's leading digital lending platforms. - MAU is 2.5 MN, last year it was 0.9 Million. - There was a 20% increment in disbursement month on month. - Conversion rate increased from 4%to 15% - Installs increased by 25% month on month.
