Success Stories

Unlocking incremental User Acquisition with TikTok ads

A transaction is worth a thousand installs

This is a story of how a crypto app activated users with a full funnel strategy in TikTok.

The Challenge

Transactions drive growth. Every marketer in a Fintech company knows that. However, many times we, marketers, tend to focus more on getting user installs at the lowest cost possible, rather than maximizing user transactions and LTV. To really achieve growth, efforts put on acquiring users should be complemented with initiatives to activate and retain them. Here is a crypto app that did just that.

Ripio is one of the biggest crypto app in LATAM. Being one of the main players in Argentina, it had embarked on the ambitious challenge to grow in Brazil. However, with crypto advertising being limited in some social platforms, it needed to find a channel that would provide a big audience and incremental users. TikTok looked like a promising candidate.

So far Ripio’s campaigns aimed to upper funnel stages, looking to increase its awareness and installs. However, in order to drive real growth, Ripio knew they had to bring active users. That meant to run campaigns that would increase the amount of First Trades in the app. As with many Fintech apps, achieving full funnel conversion in a new channel would be nothing short of a big challenge for Ripio. But not for long.

+3.2x Increase in Installs
-70% Reduction in CPA
+3.9x Increase in Transactions

“We needed to maximize our campaigns’ efficiency. We choose Winclap as our Growth Partner because they count with a team of specialists in performance, creativity and technology. We obtained excellent results with our TikTok campaigns, reducing 70% our acquisition costs.”

Agustin Saldis
Paid Media Analyst Ssr – Ripio

The Solution

Working with Winclap’s Growth and Creative Teams, Ripio deployed a full funnel strategy combining awareness, acquisition and retargeting campaigns with deep user segmentation and creator-based ads strategy.

A full funnel approach

Multiple campaigns were ran and optimized towards different stages along the user app journey.

Install campaigns were run in Pangle, TikTok’s DSPs. These campaigns brought installs with very low CPI levels. However, the Installs/First Trade conversion rate of these users was relatively low. To complement this, the team ran retargeting campaigns to reengage users who had installed but weren’t active yet, thus reducing overall CPAs.

Finding the right Persona

Not all users behave the same, especially when it comes to crypto. In order to achieve full funnel conversion, Ripio and Winclap Growth Teams needed to find the audience with the highest probability of trading in the app. To get to the right persona, the team tested multiple age ranges, ran suppression lists and tested look alike audiences. They discovered an important insight: age could be a significant variable driving first transactions. Thus, to optimize campaign performance they targeted only the ages with low CPAs.

These optimizations allowed to obtain a CPA 70% lower than the ones from the other Self Attributed Networks where they were advertising.

A Bullish Creative Strategy:

When addressing to multiple audiences, you have to speak multiple languages. Trying to attract a first time investor using messages with strong crypto technicalities can get too…cryptic. While trying to reengage a crypto enthusiast only with a basic educational message may not be enough. Thus, the creative strategy in TikTok needed to adapt to each campaign objectives (i.e acquisition and retargeting).
Winclap’s Creative Studio designed and produced creator based ads following best practices for each strategy. It went fully DYOR (do your own research) mode to find and select the best trends and creators aligned with Ripio’s message:

  • Making TikTok including informative tips worked well for their UA campaigns.
  • Leveraging strongy on TikTok trends, proved more efficient to retarget inactive users.
  • Testing multiple creators varying gender and ages for brand awareness and user activation.

Creative Strategy

All along the team tested multiple creators that would empathize with Ripio’s audience. Some themes worked better for attracting new users while others were more efficient for activating users and driving transactions.

The Results

Ripio’s ads were amongst the better converting videos in TikTok. During the campaign duration, 6 out of the 10 Top Ranked Fintech Ads in TikTok were the ones made by Winclap Creative Studio for Ripio.

Ads’ high conversion rate brought strong results in both acquisition and retargeting initiatives. Ripio increased its Installs by 3.2x, while augmenting its First Transactions by 3.9x over the last 3 months!

  • 3,2x Increase in Installs
  • 3,9x Increase in First Trades
  • 70%- Reduction in CPA

Ripio unlocked an incremental channel to scale. But it also discovered a powerful content practice to use in other trending social channels. (after all, the FOMO was too great to run creator-based ads only in TikTok, but that is a story for another day.)

With clear goals, a full funnel strategy and creator based ads, Ripio has activated a new way to grow.

That is what growth transformation is about.

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