As the cryptocurrency landscape continues to mature, new exchanges like the one belonging to our client need more effective ways to break into the market. One such way is social media advertising. However, finding ways around stringent advertising policies on Facebook now become the major challenge to achieving brand awareness.
Client Background
The client is a newly established cryptocurrency exchange headquartered in Europe, having over 50 cryptocurrencies on offer. The platform is building one of the fastest, most secure, and most reliable exchange systems that offer freedom and flexibility to users.
Before contacting us, the client solely depended on attracting users organically as they could not meet Facebook’s eligibility requirements for advertising cryptocurrency-related products and services.
Additionally, with so many competitors in the market, one of its major objectives was to increase its market share while meeting its users’ needs.
The Problem
Being a relatively new cryptocurrency exchange platform, the client’s major problem was finding new users and improving its brand awareness efforts.
Also because it’s a new platform in an industry with so many established competitors, caving out a personal niche wasn’t possible and marketing on social media using Facebook seemed to be another impediment.
The Challenge
For us, the challenge was finding ways to successfully run cryptocurrency-related ads on Facebook.
Even though the social media giant is expanding into the blockchain, Facebook and Instagram still do not entirely support ads that promote cryptocurrency.
Moderation bots that automatically check ad banners and texts usually restrict crypto-related ads so we needed to understand the platform’s advertising specifics for a successful ad launch.
The Solution
We developed an advertising strategy with precautionary measures to ensure increased brand awareness and a loyal audience community.
We aimed at generating leads using opt-in pages so that the client could follow them up with email marketing campaigns.
By using ad creatives that do not involve money we were able to comply with Facebook policies and publish the advert.
Also, getting users to sign up for a new exchange was difficult therefore using a one-click lead collection process allowed the client to build a database of users to market via other means.
Our Process
To increase awareness and acquire new users for the exchange, we employed our result-oriented work approach to meet the objective.
We used attractive video-first creatives to entice the target audience and also created laser-focused ad copy to compare the client’s exchange with other platforms and outlined the important benefits of using the platform for cryptocurrency exchange.
Furthermore, we incentivized users with free sign-up bonuses in the form of crypto tokens.
With the generated leads, the client could build warm traffic for retargeting and follow up the interested users with more information on how to buy and exchange cryptocurrency on the platform.
Results
Industry: Crypto
Regions targeted: Europe & Worldwide (separate ad sets)
Language: English
Total Spent: USD 978.05
Total Number of Signups: 1,759
Average Cost Per Conversion: $0.56
Conclusion
According to Facebook’s ad policy, ads promoting cryptocurrency and some types of products and services can not be published on their platforms.
However, through our knowledge and advertising expertise, we devised creative means to explore gaps in the ad policy and meet the eligibility requirements for advertising cryptocurrency products and services.
We successfully published Facebook ads for our client’s cryptocurrency exchange and helped them gain more users and brand awareness.
The Wealth Ideas team can achieve the same and even more outstanding results for you, no matter your business industry. Our Facebook advertising experts will help you achieve your advertising goals.
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