Voi – Weathering the storm: Securing startup profitability in a recession
We saw a 20% YoY increase in first rides from paid channels (search & social).
We witnessed a conversion rate increase from users installing the app to completing their first rides by 23% YoY.
We maintained the same customer acquisition costs YoY throughout, despite the economic climate.
When we found Precis, we knew we had found our one-stop shop for our needs. Together with Precis, we managed to drive digital growth and built a digital marketing setup that enabled our in-house team to make well-informed strategic decisions.
Why we’re succesful
1. Enhanced KPI mapping and measurement setup
Mapped out comprehensive KPIs for channels and key initiatives to understand not just the quantity but also the type of users acquired. By focusing on blended KPIs, we provided a more accurate representation of performance and an understanding of incrementality. Our tech stack allowed us to run advanced analyses of the effectiveness of our marketing activities and adjust the strategy accordingly.
2. Efficient media buying
Developed a full-funnel media plan, focusing on acquiring the most valuable customers both short and long term. We also used tailored bidding models developed specifically for Voi (e.g., for Apple Search Ads) to ensure optimisation to the right metric in real-time. Continuous testing (e.g., of new channels) and evaluating incrementality (e.g., through assessing cannibalisation) were key for us to continue evolving the strategy.
3. Securing holistic brand experience
Aligned messaging and brand presence across owned, earned, and paid media, as well as optimised creative strategy and messaging. This integrated approach helped us maximise the impact of media investment both short- and long-term.