Explore how Tokocrypto leverages predictive analysis to drive efficiency by lowering their customer acquisition cost and acquire high-value customers
As the crypto industry experienced a global boom in late 2021, Tokocrypto, an Indonesian-based crypto trading app, faced the challenge of sustaining growth amid increased market volatility in early 2022. To tackle our goals, we focused on the following:
- Not just the number of new users but also those who successfully completed registration and nurtured them to KYC completion, i.e., CRO (Conversion Rate Optimisation) tactics
- Not just the number of trading users but also the number of users completing registration and KYC steps in the journey, i.e., cross-sellability
- Not just cost per download but also driving down the Customer Acquisitions Cost (CAC)
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Strategy
The strategy began with targeting a broad audience and refining actions based on gathered insights. Additional factors like offline and online behavior were considered, focusing on a mid to high affluence demographic in Jakarta and Java. Customized creatives were produced to align with specific audience segments, and programmatic affiliate channels were utilized to build look-a-like audiences. Predictive analysis models, behavior-based targeting, and device-based targeting were employed for optimization.
Results
- Over 43% of the users who completed the KYC immediately started trading
- More than 200% reduction in CAC against the benchmark, and 50% lower than the set target
- Optimisation of funnel conversion rates resulted in over 148% growth
- 'Install to Registration’ conversion rate was maintained at 14%
- The conversion rate of ‘registration to users’ completing KYC grew to 55%
- Over 31% growth in Monthly Active Users
Awards
- Silver in Excellence in Data-Driven Marketing & Consumer Insights category at Marketing Excellence Awards 2022
- Gold in Excellence in Mobile Marketing category at Marketing Excellence Awards 2022
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