KOHO Financial

The Objective

Gaining new users with an always-on acquisition approach

KOHO empowers Canadians to spend more mindfully and effectively by design: it's a free-spending and savings account, with a reloadable prepaid card, that gives you cash back on every purchase—along with lots of other benefits! Focusing on consumers early in their financial journey, KOHO looks to TikTok to use an always-on acquisition strategy to reach its core audience and drive app installs and account registrations.

The Solution

Using creator-led content to authentically reach new audiences

The benefits of financial wellness are plenty, and with KOHO's digital-first free spending and savings account, including budgeting tips in app, cardholders can start off on the right foot. To reach and engage new customers, the Fintech company partnered with actual KOHO users on TikTok to authentically demonstrate the real-life benefits of having a KOHO card.

Creators like @queerd.co, @moneywithmark, and @millennialmoneycanada, talked about their personal experiences with the KOHO card account and why they love having an account. KOHO then used In-Feed Spark Ads to extend the reach of the creators' TikTok videos where they spoke about how the card and app are changing their budgeting game, keeping them out of debt, allowing them to earn cash back, and even allowing them to build credit history with KOHO's Credit Building feature.

TikTok has a massive audience of twenty and thirty-somethings, and the finance ads featuring the creators' content was accessible and relatable for this audience. But personal finance—and let's be honest, financial challenges—are a part of everyday life for many. So to reach as many users as possible, KOHO targeted various segments for its finance ads to reflect the diversity of their audience with one singular goal in mind: getting users to start their personal finance wellness journey by putting money in a new KOHO account.

The Results

A solid bang for its buck

Cha-ching! The TikTok community showed KOHO the money with an impressive 33% increase in new accounts registered and a 26% increase in app installs during the campaign's flight period. By optimizing towards installs and account registrations, KOHO's In-Feed Spark Ads featuring organic-style content from real users helped accomplish its goals of app installs while also garnering 52 million video views and 4.4 million reach with a 0.6% click-through-rate. And the approach gave KOHO a solid bang for its buck—the finance ads saw a 31% decrease in cost per acquisition. So when it comes to KOHO's always-on acquisition approach, the TikTok community is engaged and ready to sign up at the drop of a dime.