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Mar 21 2023
Following the recent disruptions in the US banking system, crypto apps and wallets have seen an increase in downloads and user numbers. What is going on?
While Silicon Valley Bank's stock dropped 60% last week, the top ten crypto apps for exchanges and wallets saw a 15% increase in downloads.
The rise of crypto apps comes at the expense of the top ten traditional banking apps, which saw a 5% drop in installs.
Chime, Dave, Albert, Empower, Varo, MoneyLion, Current, Aspiration, Sable, and Oxygen were among the digital-first apps that saw a 3% drop in downloads.
The crypto industry has grown exponentially over the last few years, and the demand for crypto apps has risen accordingly. With the increasing competition in the market, it has become crucial to develop an effective marketing strategy to stand out and increase revenue.
This case study presents a successful example of boosting a mature crypto app downloads by 140% through multi-channel engagement.
The multi-channel engagement strategy resulted in a significant increase in user engagement and revenue generation.
What's more, the app store optimization (ASO) resulted in a 60% increase in the app's downloads. And the referral program was a massive success, with 30% of the users participating and referring their friends. The email marketing campaign resulted in a 25% increase in the click-through rate (CTR) and a 15% increase in user engagement.
Our client is a cryptocurrency wallet app estabilished in 2020. The app was created to provide a secure and user-friendly way for crypto enthusiasts to store, manage, and trade their cryptocurrencies.
The app's user interface is intuitive and user-friendly, making it easy for even beginners to use the app. The app also provides real-time market data and price alerts, allowing users to stay up-to-date with the latest developments in the crypto market.
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Before ASOWorld was implemented, the turnaround time for any new campaign was around two to three days, which is quite a long time. The process of understanding user intent and executing real-time intelligent marketing campaigns is inefficient and time-consuming. As our audience grew, we found scalability an additional challenge for existing partners.
Understanding both user actions and what those actions say about the user's intent is one of the prerequisites for creating a great user experience. Understanding what the customer is doing on the app or website - and why - can assist the team in designing the type of campaign and channel that will best meet their objectives.
We want to go beyond basic messaging and engage customers across platforms with the right message at the right time. If a user drops out of one channel, try to connect with that user on another channel and make it seamless.
We began by conducting market research to understand the target audience and their needs. We found that many crypto enthusiasts were looking for a wallet app that was both secure and easy to use. Based on this insight, We developed a comprehensive multi-channel engagement strategy, which included the following tactics:
We created and optimized social media profiles for the client's app on various platforms like Facebook, Twitter, LinkedIn, Instagram, and Reddit. We ran targeted social media campaigns to increase the app's visibility and reach the target audience.
⚡ Related reading: The Social Media Marketing Strategy: Here Comes the New Wave
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We introduced a referral program to incentivize users to invite their friends to use the app. Users who referred their friends were rewarded with a discount on their next transaction.
We created personalized email content and segmented the audience based on their interests and behavior. The email marketing campaign resulted in a 25% increase in the click-through rate (CTR) and a 15% increase in user engagement.
We optimized the app's listing on various app stores to improve its visibility and increase downloads. We researched and identified relevant keywords and optimized the app's title, description, and screenshots accordingly.
First, ASOWorld team helped the client identify the most interesting and relevant keywords to drive downloads from users interested in their new service. The team has identified some keywords that will first be added to the app title, subtitle, and iOS keywords fields. After that, the team will also focus on keywords that will be added to the Google Play long description.
ASOWorld team has established top priority KPIs including keyword installs, monthly downloads and the app's current rank. The best keywords consist of those that correspond to your new target market, focusing on the new segment of store users.
The team also evaluated each keyword's chances of conversion: if the app ranked highly for a term that generated low installs, the keyword wasn't considered valuable.
With Appranking's keyword research tool, our clients are able to compare their keyword strategies with those of their competitors.
This is especially important for the app to compete with apps offering similar services and targeting similar keywords.
Our team optimizes marketing campaigns through A/B testing. The team experimented with various iterations of copy, images, and landing pages to find a winning variation. We share this feedback with our clients, which helps the team better understand user behavior and adjust messaging for better conversions.
Implementing a multi-channel engagement strategy can be highly effective in boosting revenue and user engagement. The combination of social media marketing, app store optimization (ASO), referral programs, and email marketing can help increase the app's visibility, reach, and engagement. This case study demonstrates that by implementing a comprehensive marketing strategy, a crypto app can significantly increase revenue and gain a competitive advantage in the market.
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