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Client: Wombat
Regions: United Kingdom
Key Achievements:
Wombat, an innovative investment app that allows users to invest based on their personal preferences, sought the expertise of Favoured to establish a significant presence in the highly competitive investment app market. Their goal was not only to attract users but also to significantly increase the number of actively investing accounts.
Breaking into the competitive investment app space was the primary challenge confronted by Wombat. The objective was to drive not just downloads, but to convert those users into active investors – a critical factor for the company’s valuation and long-term success.
We devised a dual-phase, multi-channel strategy, integrating advertising with targeted nurturing tactics to increase app awareness, drive downloads, and convert users into active investors.
Multi-Channel Advertising Strategy: Initial user attraction was achieved through an aggressive multi-channel advertising strategy, targeting potential users across various digital platforms.
Targeted Nurturing Tactics: To convert these users into active investors, we complemented the advertising with targeted nurturing tactics. This included personalised engagement through email, push notifications, and in-app notifications.
Focus on Conversion Rate: The crux of the approach was to elevate the conversion rate, transforming mere users of the app into active investors – a critical factor for Wombat’s market standing and valuation.
Multi-Channel Marketing: Through a targeted multi-channel marketing campaign, we were able to drive over 140,000 investor accounts to Wombat. This not only demonstrates the effectiveness of the approach in a crowded market but also underscores the success of the conversion tactics employed.
Creating Active Investors: As a result of our marketing strategy and the increased user conversion achieved, Wombat secured a significant milestone, reaching a £25M valuation in its Series A funding round. This valuation was a tangible testament to the campaign’s success and strategic use of personalised engagement to convert users into active investors.
Our strategic multi-channel approach, coupled with targeted nurturing tactics, successfully helped Wombat break into the competitive investment app space. The significant increase in actively investing accounts and the subsequent milestone of a £25M valuation underscores the effectiveness of an integrated and personalised marketing approach in driving user conversion and business growth.
