The Ultimate Guide to Crypto Ad Networks
Ads related to cryptocurrencies have been banned on Google and (partially on) Facebook, meaning that marketing an ICO now requires going after more targeted traffic. Crypto advertising networks puts you directly in front of crypto-enthusiasts, who are more likely to become involved with your ICO or cryptocurrency business.
There are many cryptocurrency networks that can offer you valuable traffic, and it’s important to research their pros and cons in order to determine which is right for you. While this does not represent an exhaustive list, these are some of the most common crypto advertising networks, each with experience dealing with the unique challenges of the industry:
CPC vs. CPM Rates
Depending on the specific ad network you’re working with, you may have the option of paying either a CPC or CPM rate. CPC represents cost per click, meaning that you pay based on the number of people who click through to your website. By contrast, CPM is cost per thousand impressions, meaning that you pay for visibility, regardless of whether that leads to any action.
Both CPC and CPM can be valuable in the right situations, as each has its own advantages and drawbacks. CPC, for example, gives you an easy way to measure ROI, and is dedicated to bringing traffic to your website.
CPM, on the other hand, is focused on promoting brand awareness and, if you achieve a high click-through rate, it can be significantly cheaper than paying per click. Therefore, a low CPM isn’t always better – if it’s leading to a high rate of conversions, you’re actually getting a good value even with a high CPM.
Just because you’re paying for a click, doesn’t generally mean the quality of traffic from your CPC campaign are comparable. However the same can be said CPM traffic. Most crypto ad networks focus on CPM.
Paying for clicks vs. impressions largely depends on your position and what you hope to gain from your advertising campaign. If your goal is to increase brand awareness and run an aggressive ad campaign, impressions are likely the more important metric. By contrast, if you’re looking for a direct response to your ads, you should be more focused on clicks.
Most crypto ad networks offer a variety of metrics to help you determine the level of success your campaign is achieving, and what can be improved. Tracking these statistics will help you continually make adjustments to your existing campaign, but you should know which ones are most valuable and which tell you the full story.
In addition to CPC and CPM, some of the most important metrics of any ad campaign include click-through rate (CTR), conversion rate (CR), and cost per conversion. These four statistics should be a focus throughout your marketing campaign, and improving them will likely lead to an increased return on investment.
Click-through Rate (CTR)
Your click-through rate represents the percentage of ad impressions that lead to a click, thus giving you an idea of how compelling your ad is. A low CTR typically indicates either that your audience isn’t as targeted as it could be, or that your ads themselves could be improved. As your CTR increases, you’ll get more web traffic and interest in your ICO. However, since a CTR doesn’t actually provide an ROI, it can’t be used alone to ascertain overall success.
Like click-through rate, conversion rate is designed to determine how effective your marketing is by examining the rate at which users take a given action. Conversions can be measured in a variety of ways, from sales to email subscriptions and anything else. Determine what action you want to focus on promoting, and use conversion rate to measure your success in encouraging it.
Cost Per Conversion
While conversion rate measures how many people convert, cost per conversion represents how much you’re paying for each of those actions. If a conversion represents a $5 profit, for example, you should be paying significantly less than that for each one—if it’s the other way around, you’re losing money.
Crypto advertising networks are a valuable advertising method for any ICO, as they can provide extremely targeted traffic, often for a very good value. It’s crucial to understand what metrics best represent your marketing success and monitor them over time in order to continually improve your marketing strategies and increase your ROI.