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With Addressable+, Polkadot effectively reached Web3 wallet owners through precise targeting, utilizing a $144K Ad budget on Twitter (X). The Polkadot team divided this budget, allocating the first portion to Twitter (X) Direct and the second to leverage Addressable+'s technology. Our team then set up approximately 200 distinct audience segments for Polkadot, enabling them to run comprehensive A/B tests. 
This case study was made possible thanks to the insightful data from Colorfulnotion in their OpenGov Transparency Report, powered by the Polkadot community.
103%

higher click rate (CTR)

with Addressable+ optimization

55%

decrease in CPC

with Addressable+ optimization

7,652

page visits  > 30 seconds

during campaign period

These tests not only compared the effectiveness of our tech targeting against Twitter (X) Direct but also demonstrated a significant decrease of between 15% and 20% in CPM (Cost Per Mille), CPE (Cost Per Engagement), and CPC (Cost Per Click) when using Addressable which underscored the heightened efficiency and impact of our advanced targeting capabilities.
In response to the question, "Is working with Addressable better than Twitter Direct?" the feedback is overwhelmingly positive:
"Yes, Addressable is an excellent partner" stated by Colorfulnotion in their OpenGov #324 Twitter Ads Promotion campaign report.

Background & Challenge

In the ultra-competitive Web3 industry, Polkadot, a decentralized blockchain platform ranked among the top 15 projects in the crypto industry by CoinGecko, was on a mission to amp up its Twitter (X) game and get people talking about its unique narratives. The team aimed to do more than just splash their ads across feeds; they wanted to spark real conversations and connect on a deeper level with users who dig their innovative tech and parachains. It was all about standing out in a crowded space and building those authentic, meaningful connections that go way beyond just counting likes and retweets.

Strategic Solution

Polkadot kicked off its ad Twitter (X) campaign with a keen eye on nailing the details and maximizing efficiency. Polkadot initiated its Twitter (X) Ad campaign with a clear focus on detail and efficiency. The team strategically employed two distinct approaches: they launched a broad-reaching campaign using Twitter (X) Direct and a precision-focused campaign using Addressable’s data-smart targeting capabilities.

Initially, they invested $30.5K, approximately 21% of the total budget over six weeks between December 25, 2023, to February 9, 2024. The rest, $113.5K, was distributed over the next eight weeks, through April 15, 2024, at a pace of $14K per week or $1,750 daily.

The campaign primarily targeted English-speaking crypto retail users, dedicating 85% of their focus to Polkadot and its Parachains, with the remaining 15% exploring other related themes. The plan? Increase awareness and figure out which platform could deliver the best engagement and optimize their investment.

Campaign Execution

Polkadot launched their campaign with a series of messages, each highlighting their tech prowess and ecosystem benefits, focusing on their top five narratives: Memecoin, Polkadot 2.0, DeFi, Decentralized Gaming, and more. These campaigns were launched from a variety of Polkadot-affiliated Twitter (X) accounts including @polkadot, @bifrost, @hydra_dx, @moonbeamnetwork, @centrifuge, @colorfulnotion and more. 

Our ops team set up approximately 200 unique audience segments specifically for rigorous A/B testing, allowing Polkadot to compare the effectiveness of our tech precision targeting against the broader approach of Twitter (X) Direct. This strategy enabled them to adjust their messaging based on real-time feedback, ensuring optimal relevance and impact of each campaign element.

Results

Choosing our targeting tools really paid off, significantly outperforming Twitter Direct. Polkadot didn't just boost brand awareness; they also saw a 15% to 20% drop in crucial metrics like eCPE, eCPC, and CPM. The insights from the leads were invaluable as they linked directly to active wallet owners, providing deep strategic insights.

Our focused targeting allowed for smarter budget allocation, targeting those truly interested over the less precise broad-spread approach of Twitter Direct. This approach not only sharpened Polkadot’s awareness but also showcased how Addressable+ enhances long-term campaign efficiency and outcomes. Our tools are suited for launching and optimizing long-term campaigns and managing targeted ads, while Twitter (X) Direct may be better for short-term, broad-reaching campaigns.

Following up on the effectiveness of our tech compared to Twitter (X) Direct, the clear consensus reinforces their value:

"Bottom line Conclusion: Addressable is a super valuable partner for Twitter Ads in most Polkadot campaigns. Additionally, they served as a crucial liaison with Twitter Ad ops. Throughout, they were not only extremely helpful and patient but also easy to collaborate with" stated by Colorfulnotion in their OpenGov #324 Twitter Ads Promotion campaign report.

Success Beyond Polkadot: A Showcase of Results Across Industries

The Polkadot case study is just one example of our customer success stories. We have many other clients who have agreed to share their impressive results with our audience. For instance, Lingo slashed their Cost Per Click (CPC) by 55%, Radix saw a 49% boost in engagement, Hype achieved more than a threefold increase in conversions, and MatchBox dramatically cut their research time by 90%.

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