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June. 23, 23
Owning the FASTag category in India one recharge at a time, Growing Acquisitions by 5x with 30% reduced CAC
About the Client
Park+, a super app for car owners, is a leading consumer app brand started with an on-the-go parking service and later diversified to include services like FasTag recharge, car wash, challan and other car related services, in alignment with its mission of ‘simplifying the process of owning a car.’
Fintech (For car owners)
Google-UAC, Facebook AAA
Ad Automation, Daily Reporting Dashboards
The objective for Park+, a superapp for car owners, was clear: To acquire new users who are looking to avail FASTag recharge services and thereby also keeping an eye on the repeat transactions.
We broke down the approach into a few parts to deliver exactly what was needed for the brand:
-Right event signals: Integrating the correct event to drive unique acquisitions for the “Recharge Event.” This gave us a correct visibility of the exact numbers of conversions happening on the app and helped the campaigns with the right learning signals and thus, reducing the CAC for unique recharges.
-Full Funnel Optimisation:
From the very beginning, we were clear that considering the category & the
space that the brand was operating in, it was imperative to keep an eye on a
few KPIs. So, we chased three individual KPIs, each requiring a different
strategy to be achieved.
The three KPIs were:
Unique Recharge: Customer Acquisition Repeat Recharge: Repeat Purchase Installs: Installs to drive the top of the funnel Post arriving at the three individual KPIs, we needed to ensure that these KPIs are achieved in order to truly drive the full funnel optimisation. Hence, we identified and mapped different platforms to a particular KPI, after analyzing the performance and nature of that platform
-Mapping KPI to the most suitable platform: We identified and mapped different platforms to a particular KPI, after analyzing the performance and nature of that platform. One key insight that the team unearthed was that since Google (UAC) is an intent based platform, it performed well in driving acquisitions for the brand. While at the same time, META as a platform was utilized to scale up repeat transactions. Similarly, separate campaigns were deployed only to drive installs and increase the influx of users into the top funnel.
-Inducing the right audience signals: It was imperative to reach an audience that reflected a higher propensity towards FASTag recharge. The same was achieved by going beyond the regular offer creatives and inducing the right signals by creative experimentation through various BAU (Business As Usual) creatives. Creatives with easy and smooth recharge, festive, long weekends/holidays, and other related Line of Communications (LOCs) that hinted towards traveling and by extension the use of FASTag services helped the performance engine learn and deliver for the brand. Moreover, including high intent keywords in text helped the campaigns to identify the right audiences in UAC campaigns.
-Strategic Scaling: This lever played an important role in the overall success of the brand in its quest to gain a substantial market share. Dynamic scaling meticulously mapped with specific travel occasions to optimizing a variety of campaigns at a funnel level helped the brand to not only acquire the right consumers at scale but also helped increase its repeat transactions i.e, Repeat FASTag recharges. One highlight of dynamic scaling was the need of the brand to maintain its contribution to search campaigns in UAC. The team wanted to make a significant contribution to search campaigns and hence only scaled the budgets when there was category demand.
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