Increased Spend within Target Cost Per Deposit
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Lightyear
How we rapidly scaled the leading investing app with paid media.
Lightyear; an investing app with an edge
The Situation
The world of investing is vast, often expensive and difficult to navigate. Lightyear is a relatively new investment app aiming to break these barriers and create a simple and approachable way to invest your money globally.
The core value proposition is allowing investors of all types to invest securely in over 3,000 global stocks without any of the traditional markups or hidden costs associated with investment platforms. This makes them the most cost effective platform available, and coupled with a range of educational features, enables them to deliver on their mission of granting everyone access to the tools they need to help develop their financial skills with confidence.
Following successful funding rounds and big plans for expansion, Lightyear understood that they needed an edge across paid search and paid social, and to significantly improve their creative in order to acquire customers efficiently. So they partnered with BARK to launch their performance marketing across Europe.
The Brief
In Q4 2022, Lightyear saw a gap in its performance marketing that was stunting its growth. They had some success in acquiring new users through Meta ads, but they were unable to get their customers to onboard and deposit, the mark of a valuable new user.
BARK identified two key jobs to be done: first, fix their tracking setup so that the valuable events were being passed back into the platform and second, use a best-in-class creative strategy to raise awareness of the brand, tackle objections and attract new customers at scale.
The Approach
First, we ran a full audit of their app event setup to identify opportunities to improve measurement further down the funnel. Installing the Meta conversion tracking correctly enabled Lightyear to drive high quality users to the app and measure the ROI of their campaigns more accurately, and optimising towards in-app actions rather than app installs significantly improved the efficiency of their customer acquisition.
As we implemented a strategy of targeting broader audiences due to the impact of iOS14.5, we focussed on ensuring the creative strategy was designed to appeal to Lightyear’s customer personas with a focus on engaging and informative video content to attract high quality users, build brand and deliver an efficient cost per deposit – the KPI.
By implementing an effective creative testing process on Meta, cycling through high volumes of diverse ad content, we were able to quickly identify the type of creative and messaging that performed best in each market, enabling us to rapidly improve cost per deposit and scale spend.
The Results
112%
63%
Scaled Spend on Apple Search
77%
Reduced CPA