CASE STUDY | FINANCE APP
Liftoff Increases Account Activations by 13% for Clarity Money
App installs increase 18.6% for popular finance app
The ChallengeClarity Money is a finance app allowing users to take control of their financial lives by helping uncover wasteful accounts (and canceling them), lowering bills, providing free credit scores, finding deals on credit cards and other financial services, and more. Clarity Money approached Liftoff to help with their USA user acquisition efforts on iOS with a goal of increasing app installs and new account activations, all while staying within CPI and CPA targets.
The SolutionThe campaign kicked off with Clarity Money providing a clear understanding of the campaign goals and mapping out the user flow – from app install to app open, account creation to linking existing financial accounts. With linked financial accounts as the primary measure of success, Liftoff had a clear understanding of the campaign objective and what in-app event to optimize for.
Next, all relevant postback data was sent to Liftoff from AppsFlyer, a leading mobile app tracking & attribution analytics platform. With postback data and a series of ad creatives designed by Liftoff an initial exploration period began, driven by rapid testing and modeling using Liftoff’s machine learning (ML) platform. After a short period, the ML platform generated lookalike profiles of users most likely to install, register, and link financial accounts to the Clarity Money app — the key measure of success.
Liftoff started to bid on ads solely for this lookalike audience, optimizing for installs and ultimately, users who linked accounts. While this was occurring, Liftoff performed numerous A/B tests of ad creatives.
The ResultsThe Clarity Money campaign performed well from the start. Once the exploration phase ended, CPAs and CPIs remained within target, enabling Liftoff to focus on scaling the campaign by increasing installs amongst users most likely to link financial accounts within the app.
We also achieved large performance gains on the creative side. By using Dynamic Ads, Liftoff generated highly personalized ads that reflect a user’s OS, device size, and location, delivering a high quality ad experience. Dynamic Ads were also A/B tested, ensuring that the best-performing creatives are always used.
With Clarity Money ad creative, common knowledge of effective design was proven true: keeping it simple, highlighting the core benefit of the product, and using the highest resolution images works best. The biggest takeaway was how a simple chart graphic from within the app beat out all other ad variations – even up to a 381% CPI lift in one case.
With a strong ML platform running on all cylinders coupled with constant A/B testing of ad creative, the results are worth noting:
- App installs increased by 18.6%
- Post-install events (linked accounts) increased by 13%
- Average daily ad spend increased by 35.9%
The increase in average daily ad spend is a signal that the campaign performed well and Clarity Money wanted to scale the campaign with Liftoff as a trusted partner. Having seen tremendous growth by reaching 400,000 users in six months, the Clarity Money team plans to build on past success. From creative learnings so far, they look forward to testing more in-app imagery in their ads to really surface the app’s value proposition.