Solved: Best Marketing Strategy for London Budgeting App Launch?

Hi there,

Thanks for reaching out. I'm happy to give you some initial thoughts and guidance on your app launch strategy. It sounds like you're in a bit of a bind, but don't worry, it's a pretty common situation for fintech startups. There's a lot of noise out there, so cutting through it is the main challenge. I'll try to make it a bit clearer what you should be focusing on right now.

We'll need to look at TikTok...

First off, TikTok. It's definitely got a lot of buzz, and for good reason. It can be great for reaching younger audiences. But you've got to be realistic. For a budgeting app, you're not just after views, you need conversions - downloads and, more importantly, active users. TikTok can deliver the awareness, but you'll need killer creative that really grabs attention. I'm talking stuff that's genuinely funny, useful, or both. Think about short, snappy videos showing how your app solves a specific budgeting problem, not just generic ads. Make sure to focus on UK specific tiktok trends, as well as sounds and music that do well in the UK.

I would'nt go all in straight away though. Start with a smaller budget and test different creatives and targeting options. See what resonates with your audience. If it works, great. If not, don't be afraid to pull the plug and try something else. I remember one software client whose first TikTok ads didn't perform as expected, highlighting the importance of testing and iterating on creative content.

I'd say you explore Facebook and Instagram...

Don't neglect Facebook and Instagram. They might not be as trendy as TikTok, but they're still massive, especially for your target demographic (25-45 year olds). The big advantage with these platforms is their targeting capabilities. You can really drill down and reach Londoners who are interested in personal finance, budgeting, investing, etc. I'd test a range of targeting options, including:

• Interest-based targeting: Target people who have expressed an interest in personal finance, budgeting, investing, saving money, etc.
• Behavioural targeting: Target people who have downloaded similar apps, visited personal finance websites, or engaged with related content.
• Demographic targeting: Target people in your desired age range, location (London), and income bracket.
• Lookalike audiences: Upload a list of your existing customers (if you have any) and create a lookalike audience of people who share similar characteristics. This can be a really effective way to find new customers who are likely to be interested in your app.

Again, the creative is crucial. Use high-quality images and videos that showcase the benefits of your app. Highlight how it can help Londoners save money, pay off debt, and achieve their financial goals.

You probably should think about partnerships...

Partnerships can be a great way to reach a wider audience and build credibility. Think about collaborating with:

• Personal finance influencers: Partner with influencers who have a strong following among your target audience. They can promote your app in their videos, blog posts, and social media updates. Make sure you do you're research first before settling on an influencer.
• Personal finance blogs: Reach out to blogs and offer to write a guest post or sponsor a review of your app.
• Other fintech companies: Consider cross-promoting your app with other fintech companies that offer complementary services.
• London-based businesses: Partner with local businesses that cater to your target audience. For example, you could offer a discount to their customers who download your app.

I remember working with several SaaS clients where user-generated content (UGC) videos proved to be very effective. User generated content is so powerful for building trust and driving conversions, and I'd seriously consider doing this for your app as well. It can be used across multiple ad platforms, including Tiktok, so you won't be limited in where you can post the content.

You'll need to consider your ad agency choice...

Finding the right ad agency is important, but don't get too hung up on finding one specifically based in London. Plenty of agencies outside the capital can run ads targeted at Londoners, and you might find better value. What's more important is finding an agency with proven experience in fintech and app launches. Ask them for case studies and testimonials. See if they have a track record of success in your niche. Agencies outside of London are also often cheaper due to lower costs of living. This is something to factor in when making a decision.

It's also worth considering whether you need a full-service agency or a specialist. A full-service agency can handle all aspects of your marketing, from strategy to creative to execution. A specialist agency, on the other hand, will focus on a specific area, such as paid advertising or social media marketing. For your needs, I would suggest you want someone who specialises in paid advertising and has experience in fintech or software, not just any marketing agency. Look at the campaigns they've ran in the past, and the case studies they have available. If they don't have experience with fintech/software, then they aren't going to be a good choice.

I've detailed my main recommendations for you below:

Launching a new app is a tough job, and I hope this has helped point you in the right direction. You may find that your time is better spent elsewhere, especially when it comes to the technical and specific knowledge needed for successful paid advertising campaigns. That's where we come in.

We've helped a number of software companies reach millions of users across the UK through paid ads on various platforms. For example, I remember one software client where we achieved 3,543 users at a cost of £0.96 per user using Google Ads. I also recall another software client for whom we drove 5082 software trials at a cost of $7 per trial using Meta Ads. We'd be more than happy to hop on a free consultation to discuss your specific needs and to see how we can help.

Regards,
Team @ Lukas Holschuh