Canadian fintech company, Koho, was looking for a new performance marketing approach to attract high-value customers while keeping acquisition costs manageable – a challenge many in the industry face. They found their solve with Google’s AI-powered solutions. By reshaping their strategy, they delivered impressive results including a 17% increase in actively funded accounts, a 12% boost in power users (those using multiple Koho products) and a 14% reduction in cost per high-value customer.
To achieve this, Koho implemented a strategy that helped them shift focus from simply acquiring users to identifying and nurturing high-value customers. They focused on two things, including developing a new predictive model to identify the high-value opportunities, and implementing the Google Analytics 4 (GA4) measurement protocol to ensure ad spend was going to the right places across online and offline media. Their success in these efforts landed them the Gold in the Measurement & Analytics category for mid-sized organizations at the 2024 Google Search Honours Awards.
Koho began by identifying high-value customers that were most likely to engage with multiple products, such as direct deposit and cash back. They partnered with Google and data software company Switch growth, combining their expertise to develop a predictive model that helped determine expected revenue from new customers. This unlocked valuable insights that enabled them to identify current and future high value opportunities. They then leveraged AI-powered value-based bidding strategies to achieve a target return on ad spend (tROAs), which helped them acquire these priority customers most efficiently and prioritize long-term value over short-term volume.
Next, Koho adopted the Google Analytics 4 (GA4) measurement protocol to track user milestones and unify their online and offline data, ensuring that the predictive model had a full view of customer behaviour. The team continuously refined its bidding strategy, testing and iterating to improve predictions. Instead of relying on past performance, Koho’s model could anticipate future customer value, allowing the company to optimize ad spend more efficiently.
Koho’s ability to attract high value customers drove a 17% increase in actively funded accounts – users who didn’t just sign up but followed through with deposits. The number of power users, those engaging with multiple financial products, grew by 12%, demonstrating the success of targeting higher-value customers. At the same time, acquisition costs dropped by 14%, proving that their marketing efforts were more efficient and sustainable.
Koho’s willingness to embrace AI and predictive modeling didn’t just improve marketing efficiency, it gave the company a competitive advantage in an evolving fintech landscape. “What we’ve created in terms of adtech with the predictive model is truly impressive and positions us well in a competitive market,” says Yassine Bakri, performance marketing director at Koho.
“It’s truly impressive what Koho has accomplished, implementing AI technology, a collaborative approach, and data-driven experimental practices,” says Bruce Tang, account executive at Google. “They’re setting an inspiring example for fellow performance marketers.”
By shifting its focus to high-value customers, Koho built a smarter, more efficient marketing engine. Its success highlights how a resourceful, data-driven team can achieve breakthrough results by embracing AI, innovation, and continuous testing.
For more best-in-class work from top Canadian brands, read more stories from the Google Search Honours Awards on Media in Canada here and Strategy here.
