A few days ago the Hive marketing proposal ad campaign has started.
Our Ad dashboard is ready and we have received the first results of the campaign.
The results are very encouraging. We are still adjusting a few things. We added
There are two tabs. For facebook and Twitter.
1. Facebook:
We are doing incredibly well with the first week. We have spent only around 429 USD and we have a very high "conversion rate" (users clicking on https://signup.hive.io/ "SIGN UP" linking to wallet creation for dapps)
That is as far as we can track new users. Anything from there onwards is the job of wallet creation sites, dapps.
The current CVR (conversion rate) for this first week is 25,21% which is very high for Facebook. The advertising benchmarks for average facebook CVR across all industries is 9,2%, for tech being only 2,3% based on data found.
If we can maintain this CVR (this is still a small sample), using all the budget remaining if we go with only facebook, we could be seeing up to 7000 new "Signup clicks" (once they click on sign up, dapps take over!) on the Hive.io site. A large part of those clicks will create an account.
The complexity of the sign up process being the only obstacle here. But that is something we working on marketing cannot do anything about!
All we can do is bring people to the brink of being Hive users.
Everything else is for devs to work on.
All the messages on the landing page have been approved by a team of people from Hive that are involved with the marketing campaign. Also to consider is that we ONLY have 3 ad messages up right now out of 8 we created so there is a lot of room to explore which ones are more effective which is exciting when it comes to the potential increase of the CVR that exists!
2.Twitter:
The twitter campaign we have decided to pause for the time being the second we received the data. The goal of the Twitter campaign is different from the facebook campaign. We will have to internally decide what our goal should be.
For Twitter, website conversions is not an option for optimization, so our objective there was link clicks.
In that aspect we are doing really well also. The average CTR for Twitter is only around 1.5% and we are doing 2.5x better.
An important factor to think about is the higher level of traffic we are getting from Twitter, and at a much cheaper cost per click but with a negligible sign up rate.
If there is a higher click through on the exchange links then we might consider keeping it going.
Right now Twitter is getting around 3x the clicks for the same price as facebook but 30x less signups.
Twitter increases brand awareness but doesnt lead to new users at nearly as high rate. For that reason we have paused it till we discuss it internally on the benefits of continuing or not.
We will know that on Tuesday during my weekly call with Ignite.
Anyone from the community is free to chip in with their thoughts.
Should we work on brand awareness and traffic to Hive.io or just go all in on Facebook and work to optimize signups?
I am mostly leaning towards "all in" with facebook right now after we check out GA for Hive.io and see what the twitter users are clicking on.
NEXT FEW DAYS:
- Ive already submitted the ad landing page changes that should go live next week.
- We have updated the facebook interests that should help the targeting.
- We have a HIVE specific PR, thats extremely well written, we will be sending out this week and paying for placement.
- And that one other thing thats coming SOON. 😉