Circle Pay saw a 50% lower cost per first transaction on Snapchat
Lower cost per first transaction vs. target
Higher sign up rate vs. other platforms
Higher activation rate vs. other platforms
For its Snap Ads, Circle Pay used playful, eye-catching creative to introduce the ease of using the Circle Pay app. With an emphasis on creating ads that felt native to the platform, the company focused on a single, strong CTA to download the app. Goal-based bidding helped Circle Pay optimize the campaign for its goal of driving app installs, lifting the swipe-to-install rate by 10%. To ensure the ads reached the right audience, Circle Pay used Snapchat’s predefined audiences like students and techies. Lookalike audiences also let Circle Pay use its loyal customers as a model for finding similar Snapchatters interested in the app.
Circle Pay had its eye on cost per first transaction as its primary measure of success. When Snap ads delivered a cost per first transaction 50% below Circle Pay’s target, the company knew it had found an exciting new channel for acquiring customers. Snapchatters also proved to be higher quality users than what Circle Pay found on other platforms, with a 33% higher sign up rate and 20% higher activation rate. On the heels of this success, Circle Pay has continued to grow with Snapchat, expanding into new markets and testing new creative concepts.