Acorns engages Snapchat to efficiently scale growth
Lower Cost per Action vs. Acorns historical benchmark
Increase in YoY investment
Acorns is the country’s leading financial wellness system, with more than 8 million customers. In one easy app, customers can invest for their future, save for retirement, spend smarter, earn more money, grow their financial knowledge and now, invest for kids they love. To efficiently scale growth and engage with a broader audience, Acorns partnered with Snapchat.
Acorns used Snap Ads and Story Ads to maximize reach and saw breakthrough performance when leveraging Snap Ad campaigns, optimizing for in-app customer registration. The financial wellness app saw further efficiencies by leveraging a multi-product approach, and from these combined efforts, noted an immediate 12% decreasein Cost per Action1compared to Acorns' historical benchmark.
Creative and messaging were also key components to success. By highlighting their Round-Ups feature, where customers can automatically invest their spare change, Acorns found an engaged audience in Snapchatters.
By activating a multi-product approach with Snap Ad and Story Ad campaigns and bidding towards in-app user registrations, Acorns has continued to efficiently attract new customers 10% below their target CPA goal1. With a 178% increase in investment year over year1, Acorns has made Snapchat an integral component of their customer acquisition strategy.
"Snapchat has helped us reach a broader audience at scale, while exceeding our goals and driving awareness of new products in our financial wellness system."