FINNIX

The Objective

Launching an app install campaign in Thailand

In Thailand, many people are underbanked and face challenges when trying to access legal funds from traditional banks due to the lack of required financial documents such as payslips, or income not meeting the minimum requirements for bank loans. Often, people turn to loan sharks with illegal, absurdly high interest rates, for cash. MONIX, a FinTech start-up company, wants to help them break free from such a vicious cycle with its FINNIX application, a digital lending app that provides legal micro-credit and personal loans.

FINNIX app allows users to get a loan approved within just five minutes, without any financial documents or collateral required. The company wanted to drive app installs among new audience segments, while also interacting with and educating potential new users on financial literacy. Knowing its target audience are street vendors, gig economy workers, and workers just entering the workforce, the FinTech start-up saw that TikTok was a good match to reach this group of audience. And so, FINNIX launched an App Install campaign on the platform.

The Solution

Driving efficiency by targeting new users and tracking view-throughs

FINNIX wanted to engage potential users by approaching them authentically. As TikTok is all about content, FINNIX knew that teaming up with the creator community via Spark Ads would result in highly creative user interaction. With In-Feed Ads format as the way that creatives were delivered to users, it gave the Spark Ads an even more native and trusted feel. But FINNIX didn't want to reach every individual in the country, as there would be considerable overlap with existing users. The FinTech company instead set its sights on targeting new users as efficiently as possible. To do so, it took advantage of additional TikTok features to drive app installs by new users, and to track results from ad views through to app installs.

One such feature was Mobile Measurement Partners (MMP) Tracking. MMP are select third parties that monitor conversions. Without it, FINNIX would only know how much traffic was headed from TikTok to the app store and the trail would end there. Through MMP, TikTok has been working with several third-party tracking platforms to deliver clear, additional data. The feature also allowed FINNIX to exclude existing app users from its campaign to ensure the campaign's efficiency.

To expand from only tracking click-throughs, FINNIX added a second feature: View-through Attribution (VTA). VTA can be combined with the Click-Through Attribution model to gain valuable insights into a campaign. VTA can see if TikTok users saw FINNIX's ad but then instead of clicking the link, downloaded the app through an app store, for example. Finally, to narrow down to the target users that FINNIX wanted to see its ads, the brand selected the App Installs campaign objective. This sets the algorithm to target the TikTok users most likely to hit the download button.

The Results

Lowering cost per install through efficient ad delivery

For FINNIX and other brands pursuing conversions such as app installs, every cent of the campaign budget counts. That's why the cost per install (CPI) averages are important benchmarks. By leveraging TikTok's proven ad solutions, FINNIX's campaign CPI was nearly 82% lower than the average for Android users. And for iOS 14+ users, CPI was down by 92%. These results indicate the high efficiency offered by TikTok's ad targeting features, as well as the engaging nature of the native creative style.

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