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380K+ Cards Issued in 7 Months: How to Make a New Neobank a Star

Fintech & Banking
client

Leobank

industry
No items found.
services
No items found.
tools

Google Ads

UACFacebook

AdsASOmobile

client

Leobank

industry
No items found.
services
No items found.
tools

Google Ads

UACFacebook

AdsASOmobile

content

Client

Leobank is a mobile bank that is a project of Fintech Farm and Unibank, available to users in Azerbaijan. Leobank clients have all the advantages of a Visa card, including credit limit, payments, transfers, cashback, etc

Challenge

Issue 100K credit cards in 8 months using Mobile app marketing tools.

Initial Data

Leobank is designed according to the mobile only principle, which means a bank without branches.

To issue a Leobank card, a user just needs to install the mobile application and go through a quick registration procedure. Clients can pick up the card themselves from Unibank branches or order delivery.

The brand had been on the market for 5 months, before the promotion of the mobile application. Thanks to the 
pre-order campaigns that led to Leobank s landing page, they attracted more than 15K customers even before 
the release of the application.

The Promodo Mobile marketing team joined the project in November 2021 and continues to work on improving all 
performance indicators by now (November 2022). In this case, we will review the work and results of cooperation with the brand for 7 months (November 2021-
May 2022).

Using paid promotion channels, the cost of one installation of the application should not exceed $2.

Spoiler

During the period, we not only fulfilled the plan regarding the number of cards issued, but also exceeded it many times over.

We managed to reduce the cost of installing and activating the card significantly: it did not exceed $1 on average in all channels.

During 7 months working within the App Store and Google Play for this project, 380K+ cards were issued as a result.

Solution

The new neobank brand entered the Azerbaijani market in three stages:

Two of our teams worked on the project

Mobile marketing team

  • Promotion of the Leobank landing
 page using performance campaigns 
at the Pre order stage.

Media marketing team

  • ASO strategy development
  • implementation of the content 
and visual component of the 
application pages in stores
  • further optimization planning.

Pre-Order → Performance Campaigns

Before starting work with Mobile Marketing, we involved performance campaigns to promote the brand s landing page
before the release of the application.

The main goals of the campaigns:

  • Attract as many new customers to the landing page as possible to fill out the form for pre-ordering the card.
  • Increase brand awareness.

Before starting work with Mobile Marketing, we involved performance campaigns to promote the brand's landing page 
before the release of the application. Facebook and Instagram have become optimal tools for placing advertisements to reach the client s goals.

Before launching the ad, we performed all the standard settings, namely implemented Google Tag Manager on the landing page and set up Google Analytics to track the correct results of future campaigns. In addition, we also developed and provided the brand with technical descriptions for the ad creatives.

From our experience, we knew that Google Ads was not supported in Azerbaijan. Therefore, we have chosen an alternative tool for advertising in this region.

Facebook and Instagram have become optimal tools for placing advertisements to reach the client s goals

Examples of creatives for Facebook and Instagram

Results of performance campaigns: Instagram Stories turned 
out to be the most effective promotion tool

In two months, the conversion rate of performance campaigns was approximately 20% (from the moment the customer goes to the site until the completed form is sent).

In four months after the launch of the landing page, we fulfilled the KPI set by the client regarding the number of attracted customers. The release of the application in the App Store and Play Market was for the audience that completed the 
Pre Order form.

Release → Mobile Marketing

A high-quality fintech product is not enough for customers to want to download an application from the App Store and Google Play Market. Its page within these stores needs to be attractive, optimized, and at the same time, promoted among the target audience.

An ASO Strategy Development for the Application Promotion

The top positions of the application page within app stores are as important as the website s position in Google. So we started with creating an ASO strategy.

First, we analyzed the customer s niche and collected key information about the product (for example, customer's onboarding, roadmap, etc). Based on the received data, we identified strategic growth points and selected digital marketing tools in accordance with the brand s goals.

In this case study, we review the Mobile Marketing stages, starting with the ASO strategy and ending with the evaluation of the results of the application promotion.

Text Content for Application Pages in Stores

At the fintech product development stage, we assembled a semantic core for the application pages in stores, taking into account the demand for relevant keywords.

Since Azerbaijan does not have its own localization for promotion in the App Store, we used the en UK localization that is eligible in the country.

However, based on the hypothesis that a certain number of devices in Azerbaijan may have RU localization, we also added the content in this language as well. This made it possible to reach up to 20% of the additional product s target audience.

Localization of the application is the translation of the page content, which takes into account the peculiarities of the region (linguistic, cultural, etc). Localization allows you to increase the number of installations of the application in one or more languages in different regions.

For Google Play, we have collected a semantic core in the Azerbaijani and Russian languages.

Examples of keywords of the semantic core

*Frequency is a predictive value that may change.

Taking into account the collected semantic core and the fact that this is the first neobank in Azerbaijan, we developed metadata and wrote the texts of the full description of the application in two languages, which were published with the release.

An example of the text part of the content of the application page

The results of A/B testing became the basis for determining the optimal metadata template, which we used on all platforms.

An example of metadata use

The pages of the application in the stores reached the TOP-1-TOP-5 positions in the search in 1.5 months, according to the majority of relevant and traffic key queries.  

Additionally, we've added branded high-frequency queries to the App Store metadata. This enabled the application to rank higher than competitors' brand queries and get additional traffic.

Visual Content for Application Pages in Stores

Attractive page design in the App Store and Google Play can increase conversions to installs by 17-24%. We created a technical task with references and recommendations for the client to use basic USPs and placing them on images. We also participated in the development of texts for screenshots.

The first option of the visual content

The first option of the visual content

We added both variants of visual content to A/B testing to determine the most effective template. Currently, the app pages in the stores use the updated second option.

Support Paid Promotion Channels

Due to the promotion of the landing page through performance campaigns, the brand has already reached some success with users and received a sufficient number of pre-orders. Therefore, we started working with paid promotion channels directly in stores at the Support stage.

We promoted the application using the AIDA model (AWARENESS-INTEREST-DESIRE-ACTION), which involves the gradual acquaintance of the target audience with the brand.

We worked on brand awareness, interest growth, and strengthening customers' desire to get a new product.

PPC Strategy

Client’s requirement of paid promotion channels: the cost of one installation should not exceed $2.

Leobank's Promotional strategy includes campaigns in various placements but with the same goals

Google UAC (Universal App Campaigns) is a universal advertising campaign for mobile applications (advertising is broadcast on Google, YouTube, Google Play and other Google services).

The launch of Google Ads UAC and Facebook Ads campaigns consisted of two stages

Targeting in Facebook Ads

  • by interests: finance, banking, loans;
  • by profession: management, IT, government employees;
  • by customer bases provided by Leobank;
  • remarketing targeted at customers who visited the brand's landing page;
  • remarketing based on in-app activity.

Results

For 7 months of work on Mobile Marketing, we proved to the client the effectiveness of the proposed coherent approach to the promotion of the neobank in the Azerbaijan market and achieved high-performance indicators.

At the beginning of work, the brand limited the cost of attracting customers with further activation of the card to $2. Our strategy made it possible not only to stay within the limit but also to reduce the cost of installation by 1.5 times compare to the desired one.

*With the exception of SKaD Network conversions

What’s Next?

In the future, the brand plans to expand its presence in Azerbaijan and cover the entire territory of the country. Together with the client, we consider other promotion strategies and plan a number of test launches of additional tools (for example, Re-engagement campaigns).

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