Viettel Money increased user registrations by 33% on the open internet with Moloco

About Viettel Money

Viettel Money is a digital finance app based in Vietnam that lets its users transfer funds, make deposits, withdraw funds, and make online purchases quickly and efficiently. As a 'smart money' app, people can use Viettel Money anywhere, on any device, without needing a bank account or internet connection, to help them live more comfortably and achieve their financial goals.

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Challenge

Viettel Money encountered significant challenges in acquiring new iOS users following the introduction of the SKAdNetwork (SKAN) privacy regulations in 2021. These regulations created hurdles in their strategy to become Vietnam's leading e-wallet app. In Vietnam's crowded mobile app market, with a population of nearly 100 million, the challenge extends beyond attracting new users; it's about efficiently targeting and acquiring the right users at scale. Viettel Money sought a partner with the expertise to effectively reach new users and drive growth for the app outside of Self-Attributed Networks (SANs).

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Solution

In a strategic move to overcome its iOS acquisition challenges, Viettel Money partnered with Moloco. Using Moloco's Machine Learning (ML) solution, Viettel Money could target high-quality traffic across the open internet, moving beyond Self-Attributed Networks (SANs). A key aspect of this strategy was the efficient use of Moloco's Cost Per Acquisition (CPA) model. It facilitated precise targeting of new high-value iOS users, ensuring they were reached at the right time for the right price.

The initial campaign focused on driving registrations in Vietnam to increase conversion rates, and it was a success. Moloco's ML-powered solution created lookalike audiences using first-party data from existing users engaging in high-value in-app actions. This approach enabled precise targeting and engagement of new high-value users most likely to convert. Within just a week, Viettel Money not only met but exceeded its campaign goals. By leveraging Moloco's machine learning to find high-value users on the open internet, it efficiently and effectively targeted and acquired the ideal users for Viettel Money. This campaign's success paved the way for Viettel Money to consistently expand its monthly new user acquisition, supporting its goal of becoming the premier e-wallet app in Vietnam.

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Results

Based on initial campaign success, Viettel Money and Moloco look forward to expanding their partnership through deeper funnel campaigns to drive acquisition based on in-app purchase conversions.

• Increased new user registration by 33% overall
• Achieved target CPA within the first week of launch

“Moloco is convenient and powerful, thanks to its accurate machine learning. The flexibility of the platform helps us create advertising campaigns with ease, optimize and shape our advertising strategy automatically and effectively. It is also good to mention the elegant user interface and timely assistance. Moloco is recommended to everyone looking for a quality and effective advertising solution.”
‍— Nguyen Khanh Duy, Head of Digital Channel Department, Viettel Money