Success Stories
Mercado Pago: Unlocking new channels to scale growth
How the leading fintech company in Latin America expanded in Brasil Mexico and Argentina scaling user acquisition campaigns in programmatic channels.
Intro
Mercado Pago is the largest payments and collections ecosystem in Latin America, processing +110 billion U.S. dollars and holding more than 50+ million users in more than 18 countries, being the biggest fintech holding. Its mission is nothing short of democratizing access to financial services across the globe. So it couldn’t stop there, it was time to continue expanding.
The Challenge
To take their expansion to the next level, they needed to scale their growth in Argentina, Mexico and Brazil. This involved not only growing in terms of new users, but to drive app engagement and Monthly Active Users (MAU) to increase transactions in the app.
The Solution
Mercado Pago partnered with Winclap’s Paid Media team to diversify and scale its UA campaigns across multiple paid media channels, activating new programmatic channel.
Diversifying paid media means investing in new channels that would find relevant additional users to show the ads. Thus, these new platforms can bring higher marginal returns on investment (ROI). In simpler terms, it will bring more users for every dollar spent. This makes media buying more efficient.
(To know more about diversifying channels, visit this article)
A channel-specific creative strategy:
Mercado Pago and Winclap’s worked together to align a creative strategy that followed each best practices for every programmatic channels. This meant diversifying ad creatives to exploit every ad placement in these app network, involving Image, Video, and banners with clear CTAs that would attract and convert new users.
The Results
More places, more users, less costs:
With its User Acquisition campaigns in programmatic channels, Mercado Pago grew its user base 30% in 12 months, while decreasing the cost per acquisition 40%. This was mainly due to its ability to show more compelling creatives (2x improvement in CTR) in more places to more users.
