Addressable Outperforms Twitter (X) for Web3 Reach, Polkadot Case Study Shows

Ever wondered how you can better reach Web3 users on X (formerly Twitter)? The secret to game-changing Web3 marketing has just been released by Polkadot, one of the largest blockchains, which recently reduced the costs of advertising on X by half and increased engagement multi-fold—all thanks to a surprising weapon.

So, what is this secret weapon, and how can it help you target your audience in the booming Web3 space? Let’s dive into Polkadot’s success story and discover how to unlock the secrets to more effective crypto marketing.

Polkado recently ran a campaign targeting the efficacy of Web3 user acquisition on Twitter as part of its marketing push. The campaign’s objective was to create awareness about Polkadot and its parachains—parallel blockchains that plug into Polkadot.

Interestingly, Polkadot compared the effectiveness of two advertising ways: Twitter’s natively run platform, Twitter Direct, and a third-party platform called Addressable, a growth marketing platform that helps web3 businesses attract and convert web3 users. Addressable also offers optimized campaigns that allow crypto companies to grow their audiences.

In a case study released today by Addressable, the data shows Addressable’s methodology to be significantly more accurate than Twitter’s native solution for reaching web3 users. With a $144K advertising budget, Polkadot put these capabilities to the test, with Addressable emerging as a clear winner in a head-to-head comparison with Twitter Direct across several key metrics.

As part of the campaign, Polkadot split the ad budget evenly between Addressable and Twitter to allow comprehensive A/B tests to be run using around 200 distinct audience segments. A total of 139 tweets were promoted, generating 161M impressions and engagement from 830,000 users. This resulted in a decreased CPM, CPE, and CPC of 15-20% when using Addressable.

Data supporting the study was provided by web3 ecosystem agent Colorful Notion. Its results indicate that Addressable provides a better solution for targeting web3 users than that offered by Twitter Direct. The study unfolded in two phases, with the first running from late December 2023 to February, accounting for around $30K of total ad spend. The remainder of the budget was spent over the next eight weeks, running until April 15.

The campaign that aimed to increase awareness of Polkadot and its parachains was targeted mainly at English-speaking crypto retail users. Five narratives for this were selected: Memecoins, Polkadot 2.0, DeFi, and Decentralized Gaming. Various Polkadot-affiliated accounts took part in the initiative.

The study very clearly demonstrated how Addressable facilitates best-in-class solutions for web3 marketing through smarter budget allocation and targeting. The success of the Polkadot case study comes on the heels of similar initiatives that have cut cost per click (CPC) for other web3-focused companies, including Lingo by 55%, Radix with a 49% increase in engagement, and Hype with a 3x increase in conversions.

This case study shows irrefutable evidence that web3 companies must go to web3-oriented solutions to target crypto users effectively and convert engagement into meaningful metrics on the chain.

Addressable Leads in Cost-Effectiveness

The study revealed that Addressable delivered significant cost savings for Polkadot’s campaign. Compared to Twitter Direct, Addressable achieved lower rates in cost per thousand (CPM), cost per engagement (CPE) which reflects the cost per user interaction (like, retweet, etc.) with the ad, and CPC, which represents the cost per user clicking on the ad.

Why Addressable Won

The case study suggests that Addressable’s targeting methods were more successful at reaching Polkadot’s target audience. This advantage likely stems from Addressable’s ability to leverage data on Web3 activity and user behavior, allowing for more precise targeting compared to Twitter’s native options. By reaching a more relevant audience, Addressable’s campaign resulted in higher engagement at a lower cost, offering valuable insights for companies looking to advertise within the Web3 space.

Founded in June 2022, by Tomer Sharoni, Tomer Shlomo, and Dr. Asaf Nadler, the Tel Avi, Isreal-based Addressable is the industry leader for Web3 growth marketing. The firm enables marketers across the space to target and market directly to Web3 audiences by associating blockchain and social data, analyzing on- and off-chain behavior, and leveraging big data for granular performance tracking.

Addressable Team