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Web3 Targeting Success: Polkadot’s Twitter Campaigns Thrive with Addressable
Using a $144K budget, Addressable outperformed Twitter Direct in cost-efficiency and user engagement for Polkadot's campaign.
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Tel-Aviv, Israel, May 29th, 2024, Chainwire – Addressable has released the results of a case study showing the efficacy of Web3 user acquisition on Twitter (X) as a part of a Polkadot marketing push. The data shows Addressable’s methodology to be significantly more accurate than Twitter’s native solution for reaching web3 users.
Developed to help web3 businesses attract and convert web3 users, Addressable provides optimized campaigns that allow crypto companies to grow their audience. Using a $144K advertising budget, Polkadot put these capabilities to the test with Addressable emerging as the clear winner in a head-to-head comparison with Twitter Direct.
The ad budget was split evenly between Addressable and Twitter to allow comprehensive A/B tests to be run using around 200 distinct audience segments. A total of 139 tweets were promoted, generating 161M impressions and engagement from 830,000 users. The results showed a significant decrease of 15-20% in CPM (Cost Per Mile), CPE (Cost Per Engagement), and CPC (Cost Per Click) when using Addressable.
Data to support the study was provided by web3 ecosystem agent Colorful Notion. Its results show that Addressable provides a better solution for targeting web3 users than that offered by Twitter Direct. The study unfolded in two phases, with the first running from late December 2023 to February, accounting for around $30K of total ad spend. The remainder of the budget was spent over the next eight weeks, running until April 15.
English-speaking crypto retail users were the primary target market of the campaign which aimed to increase awareness of Polkadot and its parachains. Five narratives were selected to achieve this including Memecoins, Polkadot 2.0, DeFi, and Decentralized Gaming. Various Polkadot-affiliated accounts took part in the initiative.
The study demonstrated conclusively that Addressable provides a best-in-class solution for web3 marketing, allowing for smarter budget allocation and more precise targeting. The success of the Polkadot case study follows similar initiatives that have slashed CPC for other web3-focused companies such as Lingo (reduced by 55%), Radix (49% increase in engagement) and Hype (3x increase in conversions).
The case study provides irrefutable evidence of the need for web3 companies to seek web3-oriented solutions that can effectively target crypto users and convert engagement into meaningful onchain metrics.
About Addressable
Founded in June 2022 by Tomer Sharoni, Tomer Shlomo, and Dr. Asaf Nadler, Addressable is the Web3 growth marketing industry leader. Addressable allows marketers across the space to target and market directly to Web3 audiences by associating blockchain and social data, analyzing on-chain and off-chain behavior, and using big data for precise performance tracking.
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