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Lingo, the first vacation rewards token, grew fast in 2022, attracting Web3 enthusiast investors via mostly influencers. With €4.5M seed funds and 100+ ambassadors (with 300M+ fans) a Q4 2023 mass market push was in sight. Daniel Kuczowski, Head of Growth, needed new user acquisition sources, higher conversions, and quality traffic to test Lingo’s mass positioning, without slowing token sales to investors.
Casual Web3 users and investors behave differently, so influencers and tools fit for enthusiast investors were worse, and harder to track, for the masses. Lingo needed an ad-based strategy with distinct copy and creative from their investor-tailored page. But even casual users are anonymous on-chain, so Lingo had no insights at hand and was in the dark about how to speak to them.
Lingo began testing and refining a custom landing page, aiming to maximize users who spend a long time and scroll far on their page. In parallel, Lingo began looking for ways to tap into on-chain user data to inform their copy and targeting and know about these ideal visitors to best re-target them for future a/b testing.
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Lingo engaged Addressable in June 2023 and found an ideal on-chain insights and optimization solution. Addressable+ has a unique, complete database of real-time Web3 data and custom audiences Lingo could base their ideal target off of. They found a segment of 28,800 DeFi Early Adopters users:
Lingo used their top on and off chain interests and influences insights to better tailor copy and creative.
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They used Addressable+ to enhance and expand the audience. If divided the audience into 1,000s of clusters with common traits and loaded the segmented audience to Twitter to start a campaign driving to their landing page. It starts measuring segment-level conversion right away to use it for optimization later.
After 24 hours, the AI automatically removed the worst performing segments and replaced them with look-alike segments of top performing ones. It then runs again, repeating the optimization regularly until the campaign ends. Lingo could track CPC changes and their top segments in their dashboard.
From 8/20 to 9/15 Lingo made only manual adjustments. The next 17 days Lingo used Addressable+ automatic optimization during which their tailored landing page, custom audience and automated optimization drove constant improved cost per click (.08 to .04 cents) and clickthrough (.36% to .74%) for Lingo main “Join the Community” and “Become an early investor” button clicks conversions.
Importantly, Lingo could also track 7,562 ideal users who spent > 30 seconds on their page, save them as a unique Addressable audience and use their audience insights to target them for A/B tests.
With improved performance of this caliber, there’s no question native Web3 brands like Lingo or Web2 brands targeting Web3 need a more data-driven approach. With Addressable+ combined on and off chain insights and Web3 user targeting in Web2 social and display channels at their disposal.
