Case Study

Case Study

How Welcome Tomorrow drove incremental acquisitions with 40% less budget

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User registrations

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KYC3 conversion rates

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Customer journey conversion rates

Cost effective customer acquisition and engagement

marketing and business objectives

Cost effective customer acquisition and engagement

Kuda is the money app for Africans. Founded in 2018, it has grown steadily to reach 7M users in 2024. The fintech startup provides fully digital banking services like free debit cards, savings, spending accounts, plus the ability to send and receive money.

Kuda’s mission is to offer accessible world-class banking to Nigerians, targeting the underbanked and unbanked population.

Kuda’s main objective is to drive qualified customer acquisition and increase user retention to get more services adopted.

 

The Challenge

The Challenge

Kuda is a prominent brand already having a high brand awareness in Nigeria. They have been able to successfully build a strong brand presence and attracted a sizeable user base, primarily leveraging paid media channels and influencer marketing.

Despite their initial success in customer acquisition, Kuda faced a challenge in their growth trajectory. Their media investment strategy needed an overhaul to drive down the cost of acquiring new customers, while getting new customers to pass higher KYC levels.

Recognising the need to shift their strategy towards more sustainable growth, Kuda started an engagement with Welcome Tomorrow to refine and optimise their online growth strategy.

Services Provided

  • Media Strategy & Planning
  • Google Ads, Meta
  • Creative Strategy
  • Creative A/B testing
  • App Store Optimisation
  • CRM & User Retention
  • Mobile Attribution (MMP)
  • Product Analytics (Mixpanel)
Since the beginning of our relationship, Welcome Tomorrow has been able to adapt to our changing business needs and delivered substantial business results with a stellar speed of execution. We consider them our trusted growth partner.

Since the beginning of our relationship, Welcome Tomorrow has been able to adapt to our changing business needs and delivered substantial business results with a stellar speed of execution. We consider them our trusted growth partner.

Bradley Want

Group VP, Growth

The Results

Kuda partnered with Welcome Tomorrow to comprehensively revamp their customer acquisition, retention, and engagement strategy.

The partnership encompassed the following key areas:

  • Customer Engagement Strategy: Welcome Tomorrow optimised Kuda’s communication flows and messaging strategy to deliver highly personalised, contextual communication with users, fostering user stickiness while improving retention rates
  • User Acquisition: we have spearheaded Kuda’s user acquisition efforts by implementing powerfil media buying strategies on Google Ads and Meta, including advanced remarketing orchestration to maximise onboarding funnel efficiency.
  • App Store Optimisation (ASO): Through metadata optimisation and continuous A/B testing, Welcome Tomorrow was able to improve organic installs and boost store conversion rates. This led to Kuda being on the “Featured” section on the Apple App Store for 2 days in a row.
  • Creative Strategy: Shortly after starting to work with Kuda, we designed over 100 creatives in one week to A/B test different creative angles across all active paid media channels. We found best performing angles in a few weeks to constantly refine Kuda’s messaging strategy.

Through this comprehensive partnership, Kuda has adopted a sustainable marketing strategy to acquire qualified new users while driving feature adoption with user re-engagement strategies.

0% ↑

user registrations

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increase in KYC3 completion (highest level of KYC)

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Increase in Customer Journey Conversion Rates

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Organic installs

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Welcome Tomorrow’s team of experts shows flexibility and transparency. They take time to understand our business, our market and our team, and bring a sense of structure. Since the beginning, this is not a business transaction, it is a partnership.

Enhancing overall online presence for Betika

The collaboration with Welcome Tomorrow has helped us drive success across our online activities. Their depth of expertise on advanced digital solutions has been a game changer for us and enabled our company to build many efficiencies. We are excited to keep collaborating with them.