OVERVIEW

2020 was a banner year for FinTech as investment reached $44 billion in 2020 — with the U.S. leading the way and driving $22 billion of that investment. With explosive growth and new entrants to the marketplace comes more competition for user acquisition, requiring marketers to think outside the duopoly and look elsewhere for new users. For example, a major fintech app that provides free banking accounts to mobile users has aggressive targets for growth in the U.S. To achieve these goals, the company’s internal team turned to FeedMob to find new sources of inventory outside their regular channels.

APPROACH

FeedMob has spent years cultivating partnerships with traffic sources that would be difficult — if not impossible — for an app’s internal UA team to find. We identified direct media buyers that have a proven track record of driving quality users. Our small, European-based partners would likely have flown under the radar of a UA team looking to drive growth among U.S.-based users. Our long history with these teams allowed us to leverage this partnership to drive impressive growth for our clients.

Our client had a conversion goal of 5% — a conversion being a user who connects a direct payroll deposit to their account. To achieve this goal, our team ran test campaigns with various supply partners in addition to the media buying partners we believed could drive scale in order to test our assumptions. We started with our media partner making up 15% of the total registrations in January and expanded to 38%, leveraging our analytics to mitigate fraud, deliver make-goods, and drive insights on how to scale in our client’s target market. Through this, we were able to compare our media partner performance with trends and insights from other supply partners.

CONCLUSION

At the end of July, our media buying partner drove an 8.25% conversion rate from January through July and outperformed our initial goal as well as the app’s organic users. Usually, paid conversions that transcend organic users might signal fraud. However, we have not witnessed red flags that would signal increased fraud, and the unfakeable conversion action instills confidence in the results. Working with FeedMob allows this fast-growing FinTech app to scale worry-free.