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Turning Downloads into Purchases: How Cashea Achieved a 27.46% Conversion Rate
Cashea, a Venezuelan financial platform, enables customers to make purchases and pay in interest-free installments, offering an innovative solution for those seeking greater financial flexibility. With over 1.5 million app users in the “Ready to Buy” segment, Cashea partnered with AMZ Ad Firm to optimize its digital marketing strategy. The goal was to increase first-time purchases, improve conversion rates, and drive long-term customer retention.
Pain Points
- High Drop-Off Rates: While Cashea had a significant “Ready to Buy” user base, conversion rates to first purchases were below expectations, limiting the app's profitability.
- Tracking and Data Issues: Challenges in tracking events on platforms like Meta and Google led to inconsistent reporting, affecting campaign optimization.
- Audience Saturation: Overinvestment in the MOFU (Middle of Funnel) stage led to audience fatigue, increasing costs and reducing campaign effectiveness.
- Limited Engagement with Key Demographics: Despite substantial app downloads, there was insufficient targeting of new and returning users with tailored messages.
Challenges
Improving Conversion Rates
Designing campaigns to encourage “Ready to Buy” users to make their first purchase.
Optimizing Funnel Performance
Ensuring a healthy balance of investment across TOFU, MOFU, and BOFU stages to sustain conversions.
Enhancing Data Accuracy
Resolving tracking issues to provide reliable data for campaign optimization.
Creating Effective Creative Assets
Developing dynamic and engaging ads to capture user attention and improve performance metrics.
Results
Boosted Conversion Rates
Conversion rates for first purchases improved significantly, with the MOFU stage achieving a ROAS of 16.37x, up 187% from the previous month. TOFU campaigns delivered a 27.46% conversion rate from app downloads to purchases, demonstrating a strong customer acquisition strategy.
Optimized Ad Spend
By redistributing budget from MOFU to TOFU, campaigns achieved a more balanced funnel performance, reducing audience saturation while maintaining a steady flow of new users. Cost per conversion at the BOFU stage was as low as $0.03, highlighting efficiency in retargeting efforts.
Improved Data Tracking
Implementation of new tracking solutions resolved discrepancies between Meta and Google Analytics data, enabling more accurate reporting and effective optimization.
Engaging Creatives and Targeting
Short-form videos and testimonial-style ads demonstrated high engagement, with some achieving a CTR of 14.02%. The inclusion of popular partners in ads improved audience trust and interaction. Segmentation by demographic and purchase behavior enabled tailored messaging, increasing retention and repeat purchases.
AMZ Ad Firm successfully transformed Cashea’s digital marketing efforts by addressing core pain points and optimizing campaign strategies. Improved tracking, creative innovations, and strategic budget allocation resulted in enhanced conversion rates, efficient ad spend, and higher ROI.
