A comparative study of performance marketing on customer acquisition costs: Evidence from a fintech firm in Kano, Nigeria
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Background of the study
Performance marketing is increasingly being adopted by fintech firms as a strategic approach to minimize customer acquisition costs (CAC) while maximizing the efficiency of digital campaigns. In Kano, Nigeria, fintech companies are leveraging performance-based models that emphasize measurable outcomes such as clicks, sign-ups, and conversions, allowing for more precise budget allocation and improved cost-effectiveness (Ibrahim, 2023). Comparative studies reveal that when performance marketing is implemented effectively, it can substantially reduce CAC compared to traditional marketing methods by focusing on high-conversion channels and real-time optimization (Adeniyi, 2024). However, variations in market dynamics, competition, and consumer behavior necessitate a comparative analysis of different performance marketing strategies to determine their relative impact on CAC. This study aims to explore these dynamics by evaluating the effectiveness of performance marketing campaigns in reducing customer acquisition costs for a fintech firm in Kano. By analyzing quantitative data such as conversion rates, cost-per-acquisition, and campaign ROI, the study will offer insights into best practices and highlight the key drivers that contribute to cost-efficient customer acquisition (Okeke, 2025).
Statement of the problem
Fintech firms in Kano face challenges in managing and reducing customer acquisition costs amid intense competition and rapidly evolving digital marketing landscapes. Despite the adoption of performance marketing strategies, inconsistencies in campaign performance and fluctuating consumer response lead to variable acquisition costs (Chukwu, 2023). The lack of a standardized methodology to compare the cost efficiency of different performance marketing tactics complicates budget allocation decisions. Without clear evidence on which strategies yield the lowest CAC, fintech companies may not fully optimize their marketing investments, resulting in higher operational costs and reduced profitability. This study seeks to address these challenges by providing a comparative analysis of performance marketing strategies and their impact on customer acquisition costs, thereby guiding fintech firms toward more cost-effective marketing practices (Afolabi, 2024).
Objectives of the Study:
To compare the impact of different performance marketing strategies on customer acquisition costs.
To evaluate the cost efficiency of performance-based marketing channels in a fintech context.
To identify key factors that contribute to reduced customer acquisition costs.
Research Questions:
How do different performance marketing strategies affect customer acquisition costs in a fintech firm?
Which digital marketing channels provide the most cost-effective customer acquisition?
What factors drive lower customer acquisition costs in performance marketing campaigns?
Significance of the study:
This study is significant as it provides a comparative analysis of performance marketing strategies in relation to customer acquisition costs. The findings will help fintech firms in Kano optimize their marketing budgets, reduce acquisition costs, and improve overall profitability through data-driven insights.
Scope and Limitations of the Study:
This study is limited to examining performance marketing strategies and their effect on customer acquisition costs for a fintech firm in Kano. It does not extend to other industries or regions, and findings are subject to the specific market conditions of Kano.
Definitions of Terms:
Performance Marketing: A marketing strategy where payments are based on measurable outcomes such as conversions.
Customer Acquisition Costs (CAC): The total cost incurred to acquire a new customer.
Fintech Firm: A company that uses technology to provide financial services and solutions.
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