Today we are providing you with an inspirational look at our client Satispay’s success story (thanks to Incrementality). Piece of context: Satispay is a mobile app with more than 2.5 million users and the goal of simplifying their payments and their lives. As if being their Performance Marketing Agency weren’t good enough, we also won the chance to join their journey towards collecting in-app registrations across a completely new audience in the Italian market. And – icing on the cake – we even got TikTok as our shipmate!
TikTok’s the perfect mate
We ran an awareness and conversion campaign with the aim of introducing Satispay as a brand and strengthening its B2C presence across the country. On this journey, TikTok turned out to be the perfect mate for two main reasons:
- thanks to its creative tools for video editing, we used in-feed ads to deliver a cheerful native-feel video which allowed us to engage with the new audience in a personal and authentic way;
- thanks to its App Event Optimization, we were able to encourage specific audience behaviours such as app downloads, in-app events, purchases, or form completions.
Ok, now that you know the waters we navigated, we bet you would like to discover where we docked. However, let us first tell you that the destination was not unknown to us.
Incrementality testing
How could we be so confident about the outcome even before getting to it? Simple, we had planned our route extremely well. How? Elementary, My Dear Watson! Through incrementality testing.
Well, maybe not so elementary but the fact is that we’ve been sharpening our skills for it so much that it has now become easier than apple pie.
Keen to know more about this? There you go with another piece of context: measuring is becoming more and more tough and players unable to do it will likely allocate capital inefficiently. Of course, we don’t want such a thing to happen to our clients, therefore we run incrementality testing: a statistical approach that aims at estimating the causal impact of market intervention on a specific metric of interest, like sales.
The causal impact of a treatment is the difference between the observed value of the response for the treated units and the unobserved value of the response that would have been obtained under no treatment for the same treated units. Long story short: it proves that something has happened or is happening because of something else. This unobserved value is called potential outcome or counterfactual.
As our dear Dr Cooper would put it: “It’s a game we invented, it’s called “Counterfactuals”. We postulate an alternate world that differs from ours in one key aspect and then pose questions to each other. It’s fun from ages 8 to 80, join us!”
(Video to better explain the reference: https://www.youtube.com/watch?v=0lpY0Kt4bn8&t=66s)
In this specific case, we had fun measuring the impact of a new advertising platform – i.e. TikTok, of course – on Satispay’s in-app registrations in the Italian B2C market, attributing specific conversions to the channel with the precision of a fine Swiss watch.
What we need to stress here is that elementary – just kidding – measurement comes with a great variety of needs and limitations. Just to name a few: data availability, ad targeting restrictions, wide-ranging measurement objectives, budget availability and time constraints. That’s why we run geo experiments, using non-overlapping locations that are randomly, or systematically, assigned to a control or treatment condition and capable of meeting a large range of these measurement needs. For our Satispay test, for istance, we took a list of Italian cities as our treatment group and the whole of Luxembourg as the control group.
A destination (un)known
Earlier, we told you our destination wasn’t unknown but to be honest it did manage to surprise us. Our campaign proved that TikTok was able to generate 434 incremental app registrations for Satispay, exceeding our expectations with a 56% lower cost per click and a 50% lower CPA compared to previous campaigns on other platforms, while also winning a massive 347% more impressions and 123% more clicks.
We can guarantee that it felt like docking on a Caribbean island full of coconuts and free from snakes.
