Client ModulTrade
Goal Registration and Contributions
Ad Channels Google Adwords, Microsoft Bing, Facebook, LinkedIn, Twitter, Instagram, E-mail and etc
Ad campaign duration 3 months
Total Campaign Budget $64 000
ICO Contribuitions 10 000+ ETH

About the client

ModulTrade is a decentralized blockchain-based platform for B2B trade. The main difference in the platform from others is the provision of letters of credit on blockchain without the participation of banks.

ModulTrade has successfully reached soft cap in the middle of the crowdsale and ultimately collected more than 10000 ETH. Let see how TargeAd helped to achieve such impressive results.


We started the ad campaign in November. The initial goal has been to test campaigns setups, identify the active audience and collect traffic for remarketing campaigns. During the test period we gathered statistics to figure out the best campaign setups, the best geo-targeting, the most effective types of campaigns. Let’s go through the main ad traffic sources one by one.

Google AdWords

Adwords is considered an effective traffic source for ICO projects despite increased competition and strict ad moderation. We started with two types of campaign – search network campaign and display network campaign with keywords targeting. Next, we continuously updated campaign settings using Google Analytics data to enhance campaign effectiveness. After we got first results, we launched other campaigns, namely Gmail campaign, YouTube, Display network campaign based on users interests and intentions, and remarketing campaigns. We mixed various targeting types to increase campaign effectiveness. As expected, we had some problems with Google Adwords moderation,  so we used multiple accounts to bring stable traffic to the website.

For the display network and remarketing campaigns we regularly tested different banner packs to find the best performing creatives. In the final stage of token sale we focused on remarketing and search network campaigns as they brought the most conversions.

Below you can see the weekly dynamic for two major goals – subscriptions and contributions.


During our work with ModulTrade we used various campaign types and placements provided by Facebook.  During the Pre-ICO stage we focused on generating the most reliable traffic, found by audience interests targeting, using advanced interest targeting with intersections and exceptions of non-related topics. We carefully collected and segmented this audience, used advanced “look alike” options to find new people, who may be interested in the investment in this ICO.

When the crowdsale began, we added conversion-aimed campaigns that were optimised to registrations and generating investments by the newly registered users. At this stage we already had a large audience for retargeting, so we ran the remarketing campaigns.

At the end of the crowdsale stage, Facebook unexpectedly started blocking our campaigns, that had been working stably for over two months. This was due to the restrictions on any crypto-related ads on Facebook  Thus we were forced to find other ways to advertise on Facebook. We decided to shift our focus to the company platform, and started to promote the posts from its page, promoting also additional brand-awareness.

We also added email-generating campaigns as they were not restricted by Facebook, and allowed us to collect email base for subscription to our email chains, generating additional investor traffic.


Twitter is a great source of cheap traffic, but one should definitely be aware that its quality is not always reliable. As the ICO started, we created campaigns to generate more traffic to the crowdsale page and to compile a retargeting base for further activities. We have used several types of targeting: keywords, interests and readers of the carefully collected accounts, related to the crypto-celebrities and companies. The most trustworthy and effective traffic had been generated by the subscribers of accounts we selected.

Reddit, Telegram and Bitcointalk

To spread the word about the crowdsale we used hidden marketing tools. We used 3 social platforms: Reddit, Telegram, and Bitcointalk. We created new threads, supported users engagement, shared information about the project. It helped to raise awareness of the project and increase traffic to the website.

E-mail Campaign

During the crowdsale ModulTrade regularly sent email newsletters to its subscribers updating information on sale progress, discussing new platform features and announcing partnership agreements. It was a powerful marketing instrument that brought multiple conversions. In the final stage of the crowdsale we additionally launched email campaign using the user base that participated in various ICO projects. It was not the best performing campaign of this ICO, but we got enough new leads and contributions.

Summary and Additional Statistics

These are not all the traffic channel that we used, but they brought the most traffic. The best performing traffic channels based on number of contributions were E-mail campaigns,Google Adwords and referral traffic from ICOBench listing.  Together they made about 59% of total contributions. However all traffic sources contributed to good crowdsale result as it’s always important to regularly remind users about your company. It sometimes takes to 10 or 20 interactions with company ads or web-site for user to make a conversion. Thus, it is mandatory to test various traffic sources to attract more customers. Also it’s worth noting that one of the important factors that contributed to the crowdsale success was mutual trust and support between TargeAd and the client during the campaign. All issues have been resolved quickly and all our recommendations were taken into account.

As a bonus you can see some additional statistics based on the Google Analytics data.

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