Flutterwave – Send.
As a new entrant to the market, Flutterwave came to Digital Ethos for support in gaining significant market share of the remittance sector. Learn more.
The Client.
Founded in 2016, Flutterwave is Africa’s largest fintech company that specialises in providing payment infrastructure for global merchants and payment service providers. Since then, they have seen stable and consistent growth to now be valued at over $3bn. At the end of 2021, Flutterwave expanded their offering and launched Send, a specialised remittance payment gateway to support users around the world with a fast, secure, convenient and cost-effective payment solution. Flutterwave needed to scale their campaigns across the US, UK and EU
The Challenge.
The remittance market is dominated by well established and popular brands, including Western Union, MoneyGram and WorldRemit. As a new entrant to the market, Flutterwave were looking for a digital marketing partner that would support them to rapidly gain a significant market share of the remittance payment sector.
The objectives of our research was to
- Understand their brand and mission
- Develop an expertise in the global remittance market
- Demonstrate expertise in audience analysis to reach their target audiences.
- Execute a multi-channel strategy across the UK, US and EU
- Build a positive reputation and credibility with new users
- Support them in generating revenue.
The Approach.
We firstly undertook an indepth look at the market, to understand where the opportunities & difficulties would lie. We explored areas including the potential of growth in the UK, demographics, audience interest, average remittance fees, value of remittances by country and an audit of competitor activity.
With this information we were then able to recommend the channels that would deliver the biggest impact. These were
Google Ads
Discovery
Delivering highly visual, inspiring personalised ad experiences to people who are ready to discover remittence offerings and are ready to engage with Flutterwave Send.
YouTube
By using Google’s data, YouTube ads can focus on Flutterwave Send’s audience niche, adding an additional touch point. The research also indicated this to be a particular popular and relevant platform for the target audience
Search
Through the use of targeted keywords and semantic analysis, our aim is to ensure that Flutterwave’s Send services are at the top of relevant searches with high transactional intent.
With the channels defined, our specialists began the processes of in depth keyword research and asset auditing to create the best possible campaigns.
When looking at visual assets, we started with the ‘Why’ or the purpose behind using the service rather than the ‘How’. For Send we felt this could be found in its African heritage and so we wanted our display assets to reflect this. The ‘How’ or product features could then be utilised through the website or ads that were focused on users further down the funnel.
For our keyword research, we focused on words that combined three areas, Search Volume, Difficulty and Intent. Through a delicate balance of these areas, we are able to pull together a campaign to drive relevant, converting traffic to the website and keep the KPI of revenue at its heart.
Ultimately we wanted a campaign that would deliver ROI, scale quickly and disrupt the market.
Paid Social
Facebook & Instagram
Our approach to Paid Social is holistic. Through more traditional methods such as behavioural & educational targeting we are able to create bespoke messages to directly connect with our target audience.
We also wanted to utilise remarketing campaigns, to recapture those who had visited the website but not made the purchase. This would also allow us to gain a better understanding of our audience which in turn would allow us to better refine our traditional campaigns.
Similar to our Google activity our goal was to ensure strong, quick ROI throughout the campaign.
The results.
Since our Paid campaigns started in July we have seen in Ad Revenue grow by 700% and an Average ROAS of 1143%
From our Paid Social activity we have seen an average increase of 71.5% month on month in transactions over the same time period. Across October 2022, Meta recorded 1,771 transactions (+330% MOM), with an average CPA of $39.21 (-63% MOM)
As a result of the success of our campaigns so far we have also now increased our markets beyond the UK and USA to include Ireland, Germany and France.