CHALLENGE

• We launched a new campaign for Socios.com, offering users €3 CHZ in credit when they sign up for the app. 
• The promotion itself aimed to build trust in the CHZ cryptocurrency and increase usage in the app by decreasing market scepticism. 
• The main challenge came in the way of also increasing awareness and consideration of Socios.com, a relatively new app to the market.
• Our main objective was to improve CPR by 80%. We also wanted to increase overall intent from existing targeting by improving our campaign conversion rate.

SOLUTION:

• META was the decided focal channel for this campaign. The budget was set at €68,000 for the initial campaign period. We ran in each Brazil, Spain, Italy, Turkey, Portugal, Argentina and Colombia.
• We used narrow audiences for the promotion itself; Football Interests, with geo-specific clubs, to ensure users targeted were relevant to the app and of high intent. And optimised towards lower funnel events who were likely to be most interested in Socios.com. 
• Then to ensure we were still maximising reach, we ran Automated App Ads (AAA). This utilised Facebook’s machine learning further to distribute our best creatives and copy to users in the right combination. Campaigns were still optimised towards lower funnel events to bring in high-intent users.
• We had a focus on the ‘consideration’ phase before and during the promotional offering. To tackle the lack of brand awareness, we produced short-form educational creatives, with a particular focus on carousels. 
• All creative content was centred around the Socios.com ambassador, Lionel Messi, which in turn helped increase brand trust. This style of creative was implemented in both our always-on and 3CHZ campaigns to strengthen users’ confidence within the app. This helped eliminate leakage as our prospecting customers were likely to be captured either within the broadly targeted audience or later in the narrow promotional campaign.
• After the promotional launch, we found users responded particularly well to static and Carousel creatives, due to their quick impact. Thus, we flexed quickly away from the video-focused content that we focused on in the ‘consideration’ phase of campaigns. We focused on creatives that had strong CTA and short phrases displaying the promo offer to push users towards the app. 

RESULTS:

• The 3CHZ campaign reported extremely strong performance. 
• We reported an 85.6% improvement in the CPR, which has far surpassed our target CPR for the 3CHZ campaign. 
• We have also seen a large increase in the number of high-intent users, with a Click to Install conversion rate of 23%, up from 8%. As well as this, the use of narrow targeting helped with user intent, and the Click to Registration rate improved from 4.34% to 13.66%.
• As a result of the success of this campaign, we have been able to increase monthly paid social budgets by 17%.

SUMMARY:

• Socios.com is a unique app with a complicated design that is often difficult to communicate within an especially challenging market. With this campaign, we were able to deliver strong performance within the crypto market around a time when macro factors were having an impact on user confidence. By increasing our numbers of educational creatives, we have seen performance not only improve but surpass our targets by impressive numbers. 
• Our campaign approach was unique as it was essentially a bottom-of-the-funnel, performance-driven campaign that was able to be tied back to awareness and brand reach. Therefore providing an argument to invest more in performance-driven campaigns without the big need for large brand budgets.