OK Cashbag is South Korea's largest integrated mileage service, with over 50,000 partner merchants and approximately 24 million members. It offers users a versatile mileage service that can be earned and used at various brand-affiliated merchants, while providing partner companies with differentiated marketing services.
Syrup is a wealth management platform with 15 million users in South Korea, offering a wide range of experiences, including membership benefits, coupon services, and accrual benefits through partnerships with over 600 brands.
They wanted to build a robust monetization strategy and improve their users’ experience for their rewards app OK Cashbag, so the Unity team designed a comprehensive ad monetization strategy for them.
The OK Cashbag and Syrup team uses Unity across their entire portfolio - OK Cashbag, Syrup, and O!Lock. They explain how implementing rewarded video ads into OK Cashbag boosted their quarterly revenue 63%. Then, by broadening their monetization strategy with the Tapjoy offerwall, they boosted their revenue another 225% - and their eCPM 270%.
Building a comprehensive monetization strategy with multiple Unity products
We had two goals for our app OK Cashbag: building a more comprehensive monetization strategy while maintaining, and even improving, our users’ experience. Based on their robust monetization toolset, we decided to work with the Unity team - first to implement rewarded video ads, and later to monetize with the offerwall.
Implementing rewarded video ads
We’ve been using Unity LevelPlay mediation for a few years now, building a monetization strategy focused on display ads. We wanted to expand our ad placement strategy, so the team recommended we try rewarded video ads. According to the Unity team, not only would rewarded video ads help boost our revenue, but - because rewarded videos help users progress in the app - they would even improve our UX.
We decided to test out a rewarded video placement, and, soon, we saw our revenue double - confirming the team’s prediction and assuring us that rewarded videos were positively impacting our users’ experience. From there, we decided to maximize our impact and add more bidding networks - encouraging more competition and higher bids.
By optimizing our monetization strategy, we’ve seen our revenue continually increase quarter by quarter. Since implementing our first rewarded video placement, our quarterly revenue has jumped over 63%. And thanks to this success, we’ve started implementing rewarded videos in our other apps as well.
Multiplying our revenue with the offerwall
After seeing success with our rewarded video ads, we wanted to broaden OK Cashbag’s monetization strategy even further - so we set our sights on the Tapjoy offerwall. We had our own local offerwall, but revenue was limited because we could only advertise with local advertisers serving campaigns with low bids.
As we explored several offerwall options, the Tapjoy offerwall was a natural choice - it delivers high quality offers with high bids, meaning better and more exciting rewards for our users. We got access to global traffic, so we knew it could help us reach high bids and help us grow our eCPM.
Using the Tapjoy offerwall, we weren’t just limited to CPA or CPS campaigns - we could utilize a multi-reward CPE campaign, where users can collect multiple rewards within one offer. Since players are motivated to spend more time completing offers, multi-reward CPE campaigns ensure advertisers can maximize engagement, and developers can boost eCPMs.
To our surprise, once we set up the offerwall, we immediately noticed our revenue and eCPM jump. As it turned out, these rewarding offers were incredibly appealing to our users - particularly the midcore and hardcore game offers - and advertisers were happy to pay extra for those high-quality users because after completing an offer, they were highly engaged in the promoted game.
Since implementing the offerwall, our overall eCPM has grown 270% and revenue 225%. In fact, we’re excited to see how the Tapjoy offerwall performs in our other applications - Syrup, and O!Lock.
*Performance drop in February due to seasonal decrease in engagement
Thanks to the support from the Unity experts, our revenue and optimization capabilities have reached new heights. Now, we’re fully armed with the tools to keep growing our marketing platform revenue and even improving our user experience.
We look forward to continuing to explore other ways to scale up our growth - in fact, thanks to the success from using rewarded videos, we are considering expanding our monetization even further with additional ad units.