The challenge
In the fast-paced world of digital payments, selecting the right market is crucial. This challenge was especially pressing for Paysafe as they aimed to pinpoint the best brand investment segments for their product, Skrill: a digital wallet that allows users to send and receive money, pay online, and more.
The initiative carried its risks. If executed well, it promised significant gains; however, missing the mark could result in considerable losses. So, to make the right call, they got in touch with us to help them gain a deeper understanding of market dynamics and consumer behaviour.
Our strategic shift in Paysafe’s market investment transformed their approach from risk to reward, enabling them to maximise growth opportunities.
The solution
At first, Paysafe looked at investing in a specific U.S. state before expanding further. To help them make this decision, we used a tailored modelling approach that combined their data with our unique insights on how brand spending fuels growth.
This process involved benchmarking against industry standards and running a custom audience survey to gauge current and potential demand for Skrill. In the end, our analysis showed that investing in the chosen state would lead to a negative ROI, falling significantly below 1, which prompted a shift in strategy.
The impact
Thanks to our insights, Paysafe sidestepped the risk of wasting millions on a market that wouldn’t deliver returns. Instead, they broadened their modelling efforts to explore five other prospects.
Further analysis uncovered three key markets with ROIs ranging from 3 to 5, resulting in an impressive tenfold boost in marketing returns. This strategic shift not only maximised their investment but also paved the way for sustained growth and a more resilient future in the competitive digital payments landscape.
Paysafe | Chirag Patel, CEO
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