From 8,000 to 80,000 users, and a $100M Series C valuation.
Indonesian SMEs used spreadsheets. Search demand was near zero. Last-click made awareness channels look wasteful. We rewrote the attribution model, and 10x'd the user base.
No demand. No attribution. No competitive moat.
Jurnal. Mekari's cloud accounting product. Faced a market where Indonesian SMEs were using spreadsheets, not software. Search demand for "cloud accounting Indonesia" was negligible. The category had to be created, not captured.
Last-click attribution made YouTube and Display look like budget waste, they got the impression, branded search got the credit. Meanwhile, better-funded overseas competitors were entering Indonesia, and Mekari was approaching its Series C raise.
The growth narrative needed proof, and the existing attribution was hiding it.
Position-based attribution. Single Purpose Campaigns. YouTube ad sequencing.
We rebuilt the measurement layer first, then deployed demand creation across the funnel. The attribution change is what unlocked the strategy.
Replaced with position-based attribution (40% first-touch, 40% last-touch, 20% middle). Suddenly YouTube and Display were credited for the demand they were creating, the budget shifted accordingly.
Restructured the entire account into Single Purpose Campaigns. One campaign per intent signal, one campaign per audience segment. Granular optimisation became possible for the first time.
Deployed YouTube Ad Sequencing using the Tease/Amplify/Echo framework. Tease creative built awareness. Amplify deepened consideration. Echo closed the demand loop with branded recall.
Repositioned YouTube and Display from "support channels" to "demand creation channels". Measured them on assisted conversions and brand search lift, not last-click sales.
10x users. 4x efficiency. 50x valuation lift.
From 8,000 to 80,000 paying users in the engagement window. Demand was created where there was none.
Compounded over the campaign. Strongest leading indicator that the awareness investment was working.
Same total spend, four times the qualified pipeline. Attribution change unlocked it.
