Learn how TMRW by UOB propels new users' acquisition by 35% weekly and reduces cost per acquisition by more than 240% with an outcome-based model.
Faced with branch closures and rising customer acquisition costs (CAC) due to shifting consumer behavior during the pandemic, TMRW by UOB sought ADA's expertise in Fintech User Acquisition. The objective was clear – to drive lower funnel test conversions in the form of acquiring users who would be approved to transact. What really counted were the activities that took place after installation:
- App registration
- In-App online documents submission
- First app login after identity verification at TMRW by UOB offline kiosks
- App activation for approved credit card holders or loans with the following products offered in the app
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Strategy
ADA leveraged its extensive first-party data, tapping into 45 million mobile Identifiers for Advertisers (IFAs) in Thailand to gain valuable insights into app behaviors and offline locations. Target audiences were segmented based on product USPs, and a winning acquisition model was established, shifting media responsibility and risk away from TMRW by UOB.
Results
- A week-on-week growth of 35% on new users’ acquisition
- An improved success rate of end-to-end conversion of 71% ahead of the monthly average
- The overall customer journey waterfall (attrition) saw a vast improvement of 109% from April to July 2022
- Cost per acquisition decreased by more than 240%
Awards
- Silver in Excellence in Data-Driven Marketing & Consumer Insights category at Marketing Excellence Awards 2022
- Bronze in Excellence in Mobile Marketing category at Marketing Excellence Awards 2022
- Bronze in Excellence in Performance Marketing category at Marketing Excellence Awards 2022
