Bibit is an Automatic Mutual Fund Investment app from Indonesia that helps young retail investors intelligently invest their money. Because not all retail investors are financially savvy, Bibit lowers the barrier to entry with a dynamic algorithm that adjusts investments based on the user’s personality, age, income, risk level and life goals.
Recognizing the increasing interest among Gen Z and Millennials in investing, Bibit knew that TikTok was not only the right platform for generating brand awareness and engagement, but more importantly for driving new installations and registration for the Bibit app in Indonesia at a lower cost and at scale.
Although larger brands gravitate toward TikTok’s massive reach, it isn’t just a platform for brand awareness campaigns. In fact, TikTok For Business not only has the potential to get your app in front of a large audience, but it can also drive down acquisition costs. With Bibit's ambition to become a leading brand in retail investment, the company started out with a Cost Per Install User Acquisition campaign on TikTok to test the platform’s performance and ensure that their budget was optimized. Following a month of testing a CPI optimization campaign, Bibit transitioned to run Registration Optimization ads that would allow them to scale up and further optimize their budget by decreasing the cost per registration.
Throughout the duration of the three-month campaign, not only did Bibit manage to scale up and increase its budget by 460% to reach a wider audience, the number of registrations for Bibit's app also increased by 414% when they transitioned to using Registration Optimization ads. At the same time, Bibit decreased its cost per registration by 10.51%.