“We analyze data from 10 DeFi projects running campaigns on Blockchain-Ads platform and this is what we learned”
In recent years, the decentralized finance (DeFi) industry has exploded in popularity, with the total value locked in DeFi reaching over $300 billion in 2021. As more and more DeFi projects emerge, user acquisition has become a key focus for many in the industry. In this blog, we’ll take a look at some of the key learnings from our analysis of data from 10 campaigns for DeFi projects on BCA, a web3 advertising platform.
The purpose of the analysis:
Our goal in conducting this analysis was to understand the effectiveness of advertising on BCA for DeFi projects. To do this, we analyzed data from 10 campaigns run by DeFi projects on the platform. The data sources we used included campaign metrics (e.g., impressions, clicks, conversions) as well as surveys and interviews with campaign stakeholders.
Some of the key findings of our analysis included:
- DeFi projects that used clear and compelling messaging in their ads had higher conversion rates compared to those that used more technical or jargon-laden language.
- The use of targeted advertising, such as targeting specific Token holders or users who interact (use) specific chain that the Project is built on top of, was more effective in driving conversions compared to more broad-based campaigns.
- DeFi projects that offered incentives or bonuses to users who completed specific actions (e.g., signing up for an account, completing a transaction) saw higher conversion rates compared to those that did not offer such incentives.
Insights and recommendations:
Based on our analysis, we have several insights and recommendations for DeFi projects looking to advertise on BCA:
- Use clear and compelling messaging in your ads to attract and retain users.
- Use targeting web3 native users (users who have wallets installed in their browser)
- Consider targeting specific users (Audiences) based on their on-chain data, or on-chain behavior to increase the conversion rates..
- Offer incentives or bonuses to users to encourage them to take specific actions.
- Very clear conversion funnel. (keep it simple stupid)
In conclusion, our analysis of data from 10 campaigns for DeFi projects on BCA has provided valuable insights into the effectiveness of advertising on the platform. By focusing on clear and compelling messaging, targeted advertising using wallet and web3 audience targeting, and incentives, DeFi projects can increase their chances of success on BCA.
If you are interested in targeted advertising to grow your Web3 business, you can reach out to us at: https://t.me/the_blockchain_ads
For more info: https://blockchain-ads.com