$20M revenue in 180 days with HTX
Even for a well-established company getting traction with a new product can be tricky, especially if the company works in an ever-evolving, highly competitive, and international market. This was the case for Huobi’s mobile app launch.
Table Of Content
Overview
Even for a well-established company getting traction with a new product can be tricky, especially if the company works in an ever-evolving, highly competitive, and international market. This was the case for Huobi’s mobile app launch. Founded in 2013, Huobi.com (HTX.com since 2023) is the world-leading Bitcoin and Ethereum trading platform, providing secure and convenient trading services for hundreds of digital assets. The company released their mobile app in 2020 and had been struggling in getting more traction with it post-release: not as many deposits came through the app compared to their more established website, and this is where we came to the rescue.
Getting a bit ahead of ourselves, we ended up developing a high-budget digital marketing campaign leveraging paid social ads to reach the target audience and drive downloads and engagement, but we knew it wouldn’t be enough on its own – we had to increase brand awareness and trust during the campaign to maximize its effectiveness and make sure that the leads we would bring in, would really stick around and become satisfied customers of the Huobi exchange.
This case study takes a look at how Ninjapromo developed a theme with a high visual appeal, tied it to multiple marketing channels, with the focus on PPC ads, brought in millions of USD in deposits in under 180 days, and even came away with some insights for our future campaigns, which we will share at the end of the case.
Planning and Trend Analysis
We started working on the case on July 1, 2022. Huobi chose us because, even though we haven’t worked with large ecosystems based around exchanges, we came highly recommended by other web3 clients and had a wealth of experience in the industry.
For projects of such scale we usually start with a strategic brainstorming meeting, to which we invite leading specialists even from the departments not initially involved in the work, so as not to miss any details and truly evaluate every opportunity to deliver value to the client. Our focus, as per early discussions with the client, would be on paid ads, but we were sure that the input from the social media and community management teams would be required, as well as the design and PR specialists.
We usually do it in free form as a team, with our strategists making sure we don’t miss any key areas that we must keep in mind, while keeping the primary goals in focus, which were:
Our team quickly assessed the situation on the crypto exchange market and reviewed the competitors, trying to decide what to do to attract more customers to make a deposit and start using the app. We used social listening tools and cross-referenced the results that they yielded with our own insights and knowledge of market trends.
It is important to remain aware of the context and trends of the market the client, Huobi in this case, is operating in. There were very few positive narratives happening in mid-2022:
- The year began with a descending trend fueled by a political and economic crisis related to the inflation rates in the US.
- The Terra (Luna UST) depegging fiasco impacted the overall sentiment towards crypto negatively.
- 2022 turned out to be the year during which the industry suffered the most hacks (both CeFi and DeFi protocols suffered terrible losses).
While being aware of some of the issues and user concerns, we made a tactical decision to focus on a smaller, yet more positive trend – memecoins.
% CR
PPC Impact: The PPC campaign was at the core of the whole case, and it resulted in a significant uptick in app downloads, exceeding initial projections, and really setting the stage for future success.
Over 378,000 impressions; Conversion rate (Installation) – 16,8%; CPC <$2,00;
% increase in ER
PPC Impact: The PPC campaign was at the core of the whole case, and it resulted in a significant uptick in app downloads, exceeding initial projections, and really setting the stage for future success.
Over 378,000 impressions; Conversion rate (Installation) – 16,8%; CPC <$2,00;
+ new users
PPC Impact: The PPC campaign was at the core of the whole case, and it resulted in a significant uptick in app downloads, exceeding initial projections, and really setting the stage for future success.
Over 378,000 impressions; Conversion rate (Installation) – 16,8%; CPC <$2,00;
+ review rating
PPC Impact: The PPC campaign was at the core of the whole case, and it resulted in a significant uptick in app downloads, exceeding initial projections, and really setting the stage for future success.
Over 378,000 impressions; Conversion rate (Installation) – 16,8%; CPC <$2,00;
Through an integrated approach that leveraged PR, PPC marketing, SMM, and community management, Ninjapromo successfully elevated Huobi's mobile app presence and provided a much needed boost to trust and awareness to the ecosystem at large, positioning it as a trusted and indispensable tool for cryptocurrency enthusiasts worldwide.
Services Provided
Paid Advertising
Strategic Public Relations
Social Media
Community Management
Digital Design
Strategy & Consulting
Goals
- User acquisition for Huobi mobile app.
- Improved engagement and usage of the mobile application both in new and existing users.
- Increased awareness of the app and amplification of promo campaigns run by Huobi at the time.
Challenge
- HTX (formerly Huobi) is a large-scale ecosystem with lots of independent in-house teams and processes that we had no control over.
- While we strive to deliver positive results in every aspect of our clients’ businesses, the primary goal was to acquire new users for Huobi’s mobile app.
- The sentiment on the market was mostly negative in the light of certain scandals pertaining to other large exchanges failing to present proof of funds, as well as a general downtrend on the crypto market.
Design
Facebook Ads:
- Developing visually engaging ad creatives and copy for Facebook placements.
- Leveraging precise audience targeting based on demographics, interests, and behaviors.
- Monitoring the campaign’s performance, adjusting targeting and ad variations to optimize results.
Messenger Ads:
- Developing visually engaging ad creatives and copy for Facebook placements.
- Leveraging precise audience targeting based on demographics, interests, and behaviors.
- Monitoring the campaign’s performance, adjusting targeting and ad variations to optimize results.
Instagram Ads:
NinjaPromo’s strategic implementation of paid social ads on Facebook, Instagram, and Messenger successfully increased app installs, enhanced user engagement, and addressed the challenges faced by experienced traders and beginners on the Huobi App. Within 3 months the campaign achieved a below-average customer acquisition cost, a significant increase in monthly active users, and improved user retention. The results demonstrate the effectiveness of paid social ads in driving app installs and promoting user engagement for Huobi.
Execution
- Developing visually engaging ad creatives and copy for Facebook placements.
- Leveraging precise audience targeting based on demographics, interests, and behaviors.
- Monitoring the campaign’s performance, adjusting targeting and ad variations to optimize results.
Results:
% CR
PPC Impact: The PPC campaign was at the core of the whole case, and it resulted in a significant uptick in app downloads, exceeding initial projections, and really setting the stage for future success.
Over 378,000 impressions; Conversion rate (Installation) – 16,8%; CPC <$2,00;
% increase in ER
PPC Impact: The PPC campaign was at the core of the whole case, and it resulted in a significant uptick in app downloads, exceeding initial projections, and really setting the stage for future success.
Over 378,000 impressions; Conversion rate (Installation) – 16,8%; CPC <$2,00;
+ new users
PPC Impact: The PPC campaign was at the core of the whole case, and it resulted in a significant uptick in app downloads, exceeding initial projections, and really setting the stage for future success.
Over 378,000 impressions; Conversion rate (Installation) – 16,8%; CPC <$2,00;
+ review rating
PPC Impact: The PPC campaign was at the core of the whole case, and it resulted in a significant uptick in app downloads, exceeding initial projections, and really setting the stage for future success.
Over 378,000 impressions; Conversion rate (Installation) – 16,8%; CPC <$2,00;
Through an integrated approach that leveraged PR, PPC marketing, SMM, and community management, Ninjapromo successfully elevated Huobi's mobile app presence and provided a much needed boost to trust and awareness to the ecosystem at large, positioning it as a trusted and indispensable tool for cryptocurrency enthusiasts worldwide.
NinjaPromo’s strategic implementation of paid social ads on Facebook, Instagram, and Messenger successfully increased app installs, enhanced user engagement, and addressed the challenges faced by experienced traders and beginners on the Huobi App. Within 3 months the campaign achieved a below-average customer acquisition cost, a significant increase in monthly active users, and improved user retention. The results demonstrate the effectiveness of paid social ads in driving app installs and promoting user engagement for Huobi.
Community and SMM – Nurturing User Relationships
To foster a vibrant and engaged community around Huobi mobile app, the agency implemented a comprehensive social media marketing (SMM) strategy to increase awareness and boost user acquisition:
Content Calendar: Developing a content calendar with a mix of educational content, app updates, market insights, and user testimonials.
Engagement Campaigns: Running contests, polls, and Q&A sessions to encourage user participation and interaction.
Best Community Management Practices: Appointing community managers to address user queries, provide assistance, and collect feedback. All of the above was done in a restructured and improved Discord server – new channels, regional chats, anti-spam bots, user levels and gamification mechanics.
Feedback Loops: Establishing feedback loops to convey user suggestions and concerns to the development team, demonstrating a commitment to user satisfaction.
Exclusive Events: Hosting webinars, AMAs (Ask Me Anything), and exclusive events within the community to strengthen the bond between Huobi and its users.
To foster a vibrant and engaged community around Huobi mobile app, the agency implemented a comprehensive social media marketing (SMM) strategy to increase awareness and boost user acquisition:
Content Calendar: Developing a content calendar with a mix of educational content, app updates, market insights, and user testimonials.
Summary and Key Takeaways:
Through an integrated approach that leveraged PR, PPC marketing, SMM, and community management, Ninjapromo successfully elevated Huobi's mobile app presence and provided a much needed boost to trust and awareness to the ecosystem at large, positioning it as a trusted and indispensable tool for cryptocurrency enthusiasts worldwide.
NinjaPromo’s strategic implementation of paid social ads on Facebook, Instagram, and Messenger successfully increased app installs, enhanced user engagement, and addressed the challenges faced by experienced traders and beginners on the Huobi App. Within 3 months the campaign achieved a below-average customer acquisition cost, a significant increase in monthly active users, and improved user retention. The results demonstrate the effectiveness of paid social ads in driving app installs and promoting user engagement for Huobi.
NinjaPromo’s strategic implementation of paid social ads on Facebook, Instagram, and Messenger successfully increased app installs, enhanced user engagement, and addressed the challenges faced by experienced traders and beginners on the Huobi App. Within 3 months the campaign achieved a below-average customer acquisition cost, a significant increase in monthly active users, and improved user retention. The results demonstrate the effectiveness of paid social ads in driving app installs and promoting user engagement for Huobi.
For projects of such scale we usually start with a strategic brainstorming meeting, to which we invite leading specialists even from the departments not initially involved in the work, so as not to miss any details and truly evaluate every opportunity to deliver value to the client. Our focus, as per early discussions with the client, would be on paid ads, but we were sure that the input from the social media and community management teams would be required, as well as the design and PR specialists.