MyWish Case Study
MyWish is a platform for creating smart contracts without programming skills. The platform supports all major blockchains – including Bitcoin, Ethereum, NEO, and now EOS. The company successfully raised the hard cap in November 2017. We contributed to the team success by providing advertising services. After the ICO finished successfully, the team asked us to prepare a new ad campaign to promote their services.
Preparation and strategy
We started working on the ad campaign strategy in February 2018. Basing on our statistics and the results of the ICO, we decided that the main traffic source should be Google Ads. The company’s two most widely-used services are the crowdsale and token contracts. Considering that, we created a separate search network campaign for each contract type. In addition, we launched various display network campaigns to identify the best targeting setups and get more traffic. Much time was spent to set up project analytics, conversion goals and provide recommendations for website improvement.
Results of Google Ads campaign
In the beginning, the results were mixed. Contract sales were low, but we continued to work on and polish our campaigns. Through the campaign, we regularly tested new ideas and strategies to find ways to increase the campaign efficiency. While testing, we used search network, display network, Gmail and Youtube campaigns. By far, the most effective campaign type was search network. Despite the high cost per click which could reach 3$, the conversion rate was much higher than in other campaigns. For display network campaign, we were using a mix of targeting methods which included keywords, the list of manually selected placements and custom audiences. As you can see on the graph below, the campaign efficiency increased significantly over time. The main reasons behind such results are the ad campaign optimization, improvement of the product, additional marketing coverage of the project and changes in pricing.
The problems we met on the way
Since June 2018, Google started banning most crypto-related ads. To overcome strict moderation, we thoroughly researched new ad rules and started testing ad texts, URLs and creatives. This negatively affected the ad relevance as we had to change texts to a more neutral description of company services, but it almost did not affect the campaign results. Eventually, most of our ads successfully went through moderation, but we are still facing sporadic bans and have to update our ads.
Other ad campaigns
Along with Google Ads, we also tested Twitter, Linkedin, and Facebook campaigns. Most of them were not as effective. Now we are using Facebook for remarketing purposes. Facebook custom events are used to segment website audience and to show them customized ads. For example, we remind website visitors that they didn’t finish contract deployment. As the campaign progresses and we get more data, remarketing campaign will play a more substantial role in our ad strategy.
Communication with the team
The integral part of campaign success is effective communication with the client. We are constantly in touch with the team to discuss all the matters concerning ad campaign performance. All our recommendations regarding ad strategy, budgets, website improvements are taken into account by the team. We have weekly calls with MyWish CEO and the marketing manager to discuss the achieved results and make a list of tasks for the next week.
Conducting a successful advertising campaign in the crypto industry is never easy. Getting good results often takes much time to identify the best traffic sources, ads setups, targeting, etc. Crypto ad ban on Google Ads and other platforms is not helping either. However, this case proves that even in these hard times it is possible to achieve success.