Ajaib scaled iOS acquisition and tripled user registration rates with Moloco

About Ajaib

Founded in 2018, Ajaib is revolutionizing Indonesia's investment landscape as the country's first fully digital brokerage platform. With a mobile-first approach, the platform empowers users to invest in stocks, mutual funds, and cryptocurrencies. Backed by over $243 million in funding, Ajaib has become Southeast Asia's first fintech unicorn and one of the region's fastest-growing companies, serving over three million users.

Challenge: Sustainably scaling user acquisition outside of walled gardens

Ajaib initially found success by focusing on acquiring Android users but recognized untapped potential in reaching iOS users. However, efforts through other platforms had not delivered the desired results.

With a strong presence in Indonesia's competitive fintech market, Ajaib aimed to achieve sustainable growth by acquiring high-value users. Most of their user base had been acquired within the walled gardens of Meta and Google, but the team saw a significant opportunity to expand by advertising across mobile iOS apps. To achieve this, they needed to acquire engaged users at efficient costs while scaling effectively. Familiar with Moloco's machine learning capabilities for advertising outside walled gardens, Ajaib partnered with Moloco to take their strategy further.

Solution: Unlocking high-value users with optimized creative strategies through machine learning

Moloco worked closely with Ajaib to develop creative strategies that optimized ad performance. The team recommended dynamic product ads (DPA) featuring real-time market changes, creating more relevant and engaging ad experiences. Additionally, they tested iOS autostore creatives to enhance user experience and drive performance.

The teams collaborated to review Ajaib’s goals and identify user actions to target and measure. They compared installs versus in-app event campaigns, focusing on actions such as app installs, registrations, and verifications, to determine which behaviors led to the highest retention by day seven. By optimizing creatives and campaign strategies, the analysis revealed that high-value users were most likely to complete the verification process, informing future efforts.

"Moloco's consultative approach and willingness to experiment with different strategies helped us identify the most effective ways to reach and convert our target users. Once we identified the right strategic approach, Moloco's machine learning platform was able to optimize targeting and help us scale acquisition." — Ignasius Alvin, Performance Marketing Lead, Ajaib

Results: Increased registration rates by 3x and 2x improvement on CTR

Moloco’s machine learning technology and strategic optimizations delivered transformative results for Ajaib’s user acquisition efforts. The impact was evident across all key metrics:

• Increased registration rates by 3X within four months
• Improved install-to-verification conversion rates by more than 3X
• Achieved a 2x improvement in CTR and a 9% improvement in CPR with dynamic product ads (DPA)
• Accelerated campaign iteration significantly, supported by Moloco's responsive advising

"Our partnership with Moloco has fundamentally changed how we approach user acquisition. We're now expanding our efforts outside walled gardens like Facebook — and seeing tremendous value as a result." — Ignasius Alvin, Performance Marketing Lead, Ajaib

If you're interested in learning more about Moloco, reach out to us today.