13 Avoidable Mistakes Founders Make While Choosing A Crypto Ad Network
Launching a new crypto project is an exciting yet challenging endeavor. As a founder, you want to spread the word about your project and attract investors and users. One of the most effective ways to do this is through advertising on crypto ad networks.
However, not all ad networks are created equal. Choosing the wrong network can waste your marketing budget and fail to deliver results.
Here are some of the biggest mistakes founders make when selecting a crypto ad network and how to avoid them:
Not Doing Enough Research
Many founders rush into ad campaigns without thoroughly researching potential networks. They may choose the first network they find or the one with the lowest costs per click/impression. This is a mistake.
Each crypto ad network has its own audience, minimum spend requirements, targeting options, and reporting capabilities. Before committing, you need to dig into the details of how the network operates and whether it aligns with your campaign goals and budget.
Ask for case studies, testimonials, and performance benchmarks from networks you are considering. Check for red flags like lack of transparency or an inability to provide detailed targeting and analytics.
Further Reading: Advertising in web3: A beginner’s guide
Overlooking Audience Quality
Many ad networks will promise massive reach at low costs. But a huge potential audience means nothing if those users are not likely to be interested in your offering.
Rather than focus solely on audience size, drill down into audience quality. Crypto ad networks access user data and should provide details on audience demographics, interests, income levels, propensity to invest in crypto, and more.
Match this to your ideal user profile. A network with a smaller but more targeted audience aligned to your project may offer better results than a mass network blasting ads across the internet. Refine your target audience first, then identify networks that can help you reach them.
Neglecting Brand Safety
The crypto space still battles plenty of scams, fake news, and outright fraud. You do not want your ads showing up on shady sites or next to inappropriate content. This can damage your brand reputation.
Thoroughly vet the websites, apps, influencers, and other ad inventory available through a network. Ask how they monitor for and avoid unsavory placements. Select networks that proactively filter out potentially dangerous or brand-damaging ad placements.
Also, check if networks allow you to block specific sites/apps you do not want your ads appearing on. This added layer of brand safety control is crucial.
Overlooking Cross-Device Capabilities
User activity flows across devices. Someone may research a new crypto project on their laptop, then purchase tokens via a mobile wallet on their smartphone.
Make sure any ad network you select provides cross-device tracking and optimization. This ensures your ads reach users across all the devices they use, with coordinated messaging.
Networks with device graph capabilities can track an anonymous user ID across devices and customize messaging for whichever screen they are engaging with. Cross-device support also allows retargeting users who expressed interest on one device but did not convert there.
Lacking Post-Click Tracking
Many networks will show ads for a low CPC/CPM but then fail to provide data on post-click activity. This leaves you clueless as to what happens after clicking your ad.
Choose a network that tracks post-click metrics like time on site, pages visited, and conversions. This allows you to calculate your true return on ad spend and optimize campaigns based on performance.
Make sure the network also connects clicks to downstream conversions, even if those happen later via a different device. This provides a clear picture of how your ads impact signups, purchases, and other desired actions.
Overlooking Optimization Options
Set-it-and-forget-it ad campaigns are destined to fail. You need a network providing ongoing optimization to adjust bids, targets, creatives, and placements based on performance.
Automatic A/B testing of different ad variations is also key - this helps identify what messaging, headlines, visuals, etc. resonate best with your audience.
Ask potential networks about built-in optimization capabilities. The right network will continuously tune campaigns for you to maximize results within your budget.
No Quick Optimization Available
Closely related to optimization - you need the ability to tweak campaigns and see results quickly. Some networks have long turnaround times for making changes or learning how updates impact performance.
Seek out networks allowing for fast optimization changes and reporting. For example, being able to pause poorly performing sites or adjust bidding in near real-time.
You do not want to get stuck running a clearly ineffective campaign for days waiting on a network to implement updates. Quick campaign iteration is crucial for cost-effective crypto ad campaigns.
Ignoring Available Targeting Options
Your ideal audience likely has some specialized characteristics beyond basic demographics. Take advantage of ad targeting capabilities to zone in on users truly aligned with your project.
For example, target based on cryptocurrency ownership such as Bitcoin or Ethereum holders. Crypto investor profiles like frequency of transactions can also help identify active users more likely to engage your project.
Consider niche targeting criteria like ownership of non-fungible tokens, use of specific crypto wallets, subscribers to crypto publications, etc. The right network provides myriad options to fine-tune your audience.
Avoid any network offering only broadly defined, cookie-cutter targeting parameters. Ask potential partners about their full range of audience segmentation abilities.
See how Blockchain-Ads amplifies your audience targeting options
No Support for Less Common Cryptocurrencies
If you are promoting a newer or more obscure cryptocurrency, you want to ensure potential ad partners can accommodate it. Many networks only accept payments in major coins like Bitcoin and Ethereum.
Ask networks about their payment policies.
- Can they bill your account and allow payments in the cryptocurrency you are promoting?
- What currency exchange rates do they apply?
The right network will handle all the back-end payment processing and currency exchange so you can seamlessly run campaigns promoting any coin.
Lackluster Creative Resources
You need stellar creative assets like display ads, videos, social content, and more to convey the value of your offering. If an ad network does not provide quality templates and design resources, you will waste time piecing together mediocre creative on your own.
Ask networks if they maintain a creative team to produce materials tailored to crypto clients.
- Can they help craft visually compelling, brand-appropriate assets with on-target messaging?
- Do they keep up with current trends and best practices for each ad format?
Great creative drives engagement and conversions. Invest in a network that can handle this critical component for you.
No Crypto Ad Expertise
This niche comes with unique challenges like regulatory shifts, price volatility, influencer scandals, and more. Work with a network experienced in navigating the crypto ad landscape.
Ask about the team’s history and performance, specifically for blockchain projects.
- Do they keep tabs on trends to inform campaign approach?
- Can they reference long-term crypto clients?
You want experts who stay on top of this rapidly evolving space and understand how to effectively engage its users. A generic digital ad agency lacks the nuanced perspective to make your campaigns succeed.
Limited Ad Format Options
Crypto ad campaigns require a multi-channel, multi-format approach. Be wary of networks offering just a single ad option like site display ads or social promotions alone.
Make sure potential partners provide a robust, diversified mix like:
- Display ads (site banners, native content)
- Video pre/mid/post-rolls
- Social media ads
- Influencer marketing
- SMS marketing
- Push notifications
This allows tailoring campaigns with the right formats across stages like awareness, consideration, and conversion. Mixing channels also helps control costs and diversifies risk.
Inability to Support Long-Term Needs
A network may excel at pumping out a short-term burst of ads. But what happens when you need to scale campaigns over months or years as your project matures?
Choose a network capable of supporting your long-term growth. As your budgets and needs expand, they should provide high-ceiling capabilities to grow with you.
Ask about minimum/maximum spend requirements.
- Do they work with individual influencers or just agencies?
- How many campaigns can they manage simultaneously?
- What are their reporting capabilities for large multi-faceted campaigns?
The right partner will offer strong foundational features plus enterprise-level options as you grow your project over time.
Choosing the right crypto ad network takes research, planning, and asking the right questions. Avoid these mistakes by thoroughly vetting potential partners against your campaign goals and target audience. Take time to make the best choice—the returns from an optimized ad program will be well worth it.
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