CASE STUDY | FINANCE APP
Stash Invest Increases Linked Bank Accounts by 134% with Liftoff
App installs nearly double for Android finance app
The ChallengeStash is an investing platform that makes it easy for anyone to start investing with as little as $5, while providing guidance and helping new investors learn the basics. Stash approached Liftoff for help growing their Android user base in the US, with a focus on acquiring new investors who would both install the app and connect a bank account to the service.
The SolutionPrior to launching the campaign, Stash provided Liftoff with postback data from past campaigns including installs, registrations and linked account data. Liftoff received this data from AppsFlyer, a leading mobile app tracking & attribution analytics platform.
With the postback data, Liftoff’s machine learning (ML) platform ran rapid testing and modeling to identify key characteristics of Stash users that activated their account. The ML platform then created lookalike profiles of users most likely to complete the funnel from app install to linking bank accounts.
Next, Liftoff’s creative team ran a series of ad creative A/B test, testing multiple ad formats, sizes and creative elements. Creative tests included copy in banner ads, interstitial videos with different narratives and visuals, and static native ads.
Liftoff then bid on ads targeted to the lookalike audience. Ads were served to potential Stash investors and optimized for those most likely to install the app and link their bank accounts. Creative A/B testing was ongoing to ensure the most effective creatives were delivered and iterated on to increase campaign performance.
ConclusionWithin just a month of launching, the Stash campaign exceeded expectations. A large part of the campaign’s success was due to extensive A/B creative testing. Liftoff performed banner copy tests as well as static native copy and image tests. Static native tests proved that simply showing the core benefit of the app yields the best results.
The largest performance gains were achieved with video ads. App demo videos outperform lifestyle spot advertising with actors and made up narratives. One such test revealed a 17% increase in installs for the app demo video over the commercial style ad. The attention-grabbing motion of videos, in particular showing demos of the app, results in the highest conversion rates.
The success of the campaign viewed through performance results:
- App installs increased by 99%
- Click-through rate increased by 6.2%
- Install to activation (linked bank accounts) increased 17.4%
- Post-install events (linked bank accounts) increased by 134%
With strong performance in such a short amount of time, Stash scaled the campaign by increasing the average daily spend by 96.3% with plans to optimize further for lifetime value (LTV).