On June 27, 2024, Atichat Laovisettanakarn, a Digital Marketing Specialist at MONIX, participated as a panelist in a session titled “Skyrocket Marketing Funnel Success in 2024,” organized by AppsFlyer. The session, which included industry leaders from Agoda, focused on transforming mobile business strategies. Together, they explored innovative ways to optimize revenue streams, enhance user engagement, and elevate the app monetization to new heights.
The Thai government actively supports the nano loan business, aiming to provide legal and accessible financial services to Thai citizens. This initiative has attracted numerous companies, including banks, financial institutions, and other licensed industry players, who are eager to participate in this growing market. However, they face significant competition from illegal loan providers, who have also developed apps to rival these legitimate businesses, intensifying the competition among app marketers.
"MONIX provided the digital lending application ‘FINNIX,’ which has the vision of creating opportunities for Thai people to prosper and enjoy life. Our primary KPI for FINNIX is based on the CPS (Cost Per Sale) model, where a sale is considered successful once a loan is approved. This deep funnel approach requires us to consider the initial criteria of each borrower and whether they align with our business. The process starts with the app install, as acquiring the right users from the beginning ensures that the CPS model is cost-effective," explained Atichat. "Given the significant amount of fraud we encounter in finance-triggered data, it is crucial that the data we select is genuinely clean."
For marketers, precision in data selection is key. AppsFlyer plays a crucial role by helping us identify important dimensions, whether activity-based or lifetime value-based, which align with the loan business's customer lifecycle. These insights allow for the rapid optimization of ad media strategies. Additionally, MONIX uses a data locker that sends information to the backend database, where the data team analyzes it. Due to the numerous stages and in-app activities associated with loan apps, a significant amount of daily data is generated. This data is then optimized for in-app experiences in collaboration with the product team. The seamless use of shared data across marketing, product operations, and data teams ensures a unified approach.
Privacy concerns, particularly regarding iOS’s App Tracking Transparency (ATT) prompt, which asks users to allow apps to track website activity, are expected to impact the marketing industry significantly. "Initially, the MONIX team was concerned about not being able to access certain iOS data. However, we ultimately found a solution that enables us to accurately attribute models and measure results, regardless of the method we use," Atichat concluded.
The session provided valuable insights into the rapidly evolving digital marketing landscape, particularly within the competitive nano loan market. Through their collaboration with AppsFlyer, MONIX demonstrated how precise data selection, innovative strategies, and adaptability to privacy changes are crucial for optimizing user engagement and ensuring successful app monetization. Attendees left with a deeper understanding of the challenges and opportunities in the industry, armed with actionable strategies to enhance their own marketing funnels.
