Fintech Case Study: Bloom Money
Bloom Money is a convenient, ethical money club for every community.
Background
Bloom Money is transforming the traditional pooling model by offering an app that enables users to form rotating money clubs. This innovative approach empowers individuals to leverage their communities to achieve financial goals collaboratively, addressing the unique challenges faced by underserved populations with limited access to traditional banking services.
Positioned within the growing FinTech sector, Bloom Money simplifies the pooling process, making it accessible and engaging. The company aims to build a strong user base while increasing their revenue per user. To achieve these goals, Bloom Money emphasised clear and impactful messaging that effectively communicated its key selling points to diverse audiences. This approach not only resonated with potential users but also played a crucial role in enhancing its brand presence within the competitive UK market.
Business goals
Increase app user volume
Bloom Money aimed to boost app user volume through targeted marketing strategies, engaging potential users via social media and online advertising to convert them into loyal users.
Enhance users profitability
To establish a strong market presence, Bloom focused on increasing brand awareness through public relations, influencer partnerships, and social media marketing, differentiating itself from competitors.
Increase brand awareness
To establish a strong market presence, Bloom focused on increasing brand awareness through public relations, influencer partnerships, and social media marketing, differentiating itself from competitors.
Build a strong community
Cultivating a vibrant community was crucial for both user acquisition and retention. By developing an effective social media strategy, we aimed to engage users and empower them to become advocates for the brand, fuelling further growth.
strategy
Implementation
At Bloom Money, I played a pivotal role in accelerating growth by developing and implementing a performance marketing strategy that delivered remarkable results. By reducing the cost per user acquisition by over 60%, I enabled Bloom to expand its customer base without increasing the marketing budget.
Additionally, I helped launch key new features, such as Community Circles, which solidified Bloom Money’s presence in the competitive UK FinTech landscape.
I designed and implemented effective strategies specifically aimed at user acquisition. This involved in-depth market research to identify target demographics, followed by tailored messaging that resonated with potential users. By leveraging insights from user behavior and preferences, we crafted campaigns that effectively communicated the value of Bloom Money, resulting in higher conversion rates and a growing user base.
I oversaw a multi-channel campaign management approach that encompassed Paid search and Paid social. By coordinating efforts across these platforms, we ensured a cohesive brand message and maximized our outreach. Each campaign was meticulously crafted to target specific user segments, employing A/B testing to refine messaging and optimize performance. This proactive management not only drove immediate results but also laid the groundwork for future campaigns.
To measure the success of our initiatives, I implemented robust tracking and analytics tools that provided real-time performance data. This allowed us to monitor user interactions and campaign effectiveness across all channels. By analyzing this data, we could make informed decisions, adjusting strategies in real time to capitalize on successful tactics and pivot away from underperforming ones. The insights gained from these analytics became integral to our overall marketing strategy, enabling us to continuously enhance our approach.
Key Results
Reduction
1
%
in cost per customer acquisition
Increase
1
%
in monthly recurring revenue (MRR) month-over-month
Aida is a pure joy to work with. She is one of those people who you can trust to get the job done. I never have to ask her for the status of any task as she is very clear in her communication and gives me updates proactively. She thinks strategically, but also has an attention to detail that I find many marketers lack. I find this particularly valuable when it comes to her attention to detail in reporting – whether it is tracking the CAC or ad spend and how it’s growing or decreasing overtime or even taking insights from how our branding is being perceived.