Client:
Bithonor is a digital financial services platform designed for migrants and global nomads. The platform currently offers financial services (sending and receiving money) in Venezuela, Colombia, Spain, Peru, the Dominican Republic, Chile, Argentina, and Brazil. Bithonor is a fintech company with a B2C digital product (web application).

Background:
Bithonor was already our client SEO services. We had developed their SEO strategy.

Initial Challenge:
The client approached us for a consultation on digital advertising, specifically for Facebook, Instagram, and TikTok. They had previously worked with another agency, but that agency was not highly experienced in digital advertising, leading them to seek our expertise.

As a marketing agency, we requested:

1. A meeting with the client to understand their needs and objectives.
2. A meeting with the external agency to review their proposed strategy.

Context:

Bithonor was in a growth phase and preparing for a funding round, requiring validated data to present to investors. Their primary validation goals were:

1. Assessing interest in the B2C product through registrations and transactions on the platform.
2. Evaluating demand for a white-label B2B platform pilot.
3. Understanding informal remittance agents’ interest in the B2B product and gathering insights on their challenges, tools, customer base, and willingness to formalize their business.
4. Validating the social impact component of the B2B project, which aimed to generate employment and income opportunities for Venezuelan migrants in Colombia.

External Marketing Agency’s Proposal:

• A focus group in Medellín.
• Social media advertising.
• Street flyer distribution.

Our Approach (IM Digital Factory):
After reviewing the client’s needs and the proposed action plan from the external agency, we conducted an analysis of the Venezuelan migrant population in Colombia. Our findings indicated that a reliable sample would require representation from multiple cities, making the proposed budget insufficient.

We provided feedback based on our experience and data, explaining that the initial plan was unlikely to achieve the intended objectives reliably. Consequently, we chose to stay out of the project unless significant adjustments were made.

The client then requested a revised proposal incorporating our recommendations. However, this new approach resulted in a significantly higher budget. After reviewing costs, the client asked for an alternative solution that met their needs within their maximum budget.

Proposed Strategy:

1. Validating Interest in the B2C Product:
   • We proposed a social media advertising strategy (Instagram, Facebook, TikTok) with a budget designed to increase key KPIs for the funding round presentation.
2. Validating B2B Demand:
   • We built a database of informal remittance agents and conducted a phone survey to gather insights on their challenges, technological tools, customer base, and willingness to formalize their business. This method provided broader geographical coverage at a lower cost than in-person focus groups.
   • To validate the social impact, we organized a virtual event targeting Venezuelan migrants nationwide through NGOs, digital ads, and Facebook groups.

Execution:

In-Person Event
We partnered with an NGO supporting Venezuelan migrants, which allowed us to organize an on-the-spot in-person event. We used Eventbrite to collect attendee data and recommended creating a WhatsApp community for close engagement.

Key actions:

• Captured demographic data before the event.
• Developed a presentation aligned with the brand’s objectives.
• Conducted follow-ups through email, SMS, and WhatsApp.
• After the event, we distributed a survey via multiple channels to assess participants’ interest in the B2B platform.

Virtual Event

• Created events on Eventbrite and Facebook, testing different titles to target both Venezuelan migrants and a general audience interested in earning income through the B2B platform.
• Used Zoom for hosting.
• Implemented organic and paid strategies, leveraging Facebook groups and event promotions.
• Used tracking links to measure participant sources.
• Sent surveys and session recordings to non-attendees.
• Used interactive tools like live polls to validate attendees’ geographic diversity.

Interviews

• Compiled a database of 100+ remittance agents in Colombia.
• Conducted phone interviews, recording testimonials and identifying challenges, communication channels, and interest in the B2B product.

Digital Advertising

• Ran Facebook and Instagram ads with six campaigns targeting:
  • Platform registrations
  • Platform transactions
  • WhatsApp transactions
  • Brand awareness
  • Social media traffic
  • Increased reach and engagement

Results:

• Achieved all validation objectives with only 20% of the originally estimated budget by adopting a different approach.
• Collected crucial data for the client, including:
  • Demographic insights
  • Interest validation
  • Lead databases
  • Active community engagement
  • Retargeting lists from social media ads
  • Testimonials from remittance agents
• Provided the client with essential information for investor presentations.
• Equipped the client with tools and insights to launch the B2B product.
• Significantly enhanced the brand’s digital presence through targeted actions.

This project showcases our ability to provide strategic, data-driven solutions while maximizing impact within budget constraints.