CASE IV
Outline: CrazyBit Crypto Platform Reduced Their Churn Rate By 85% With Google Harmony
Customer: Graham Brown – CMO
Company: CrazyBit
Industry: Cryptocurrency & Fintech
Buyer Persona: Varied Crypto Enthusiasts & Investors
CrazyBit Crypto Platform Reduced Their Churn Rate By 85% With Google Harmony
Introduction
Graham Brown runs the marketing for CrazyBit. A crypto brokerage platform based in Canada. Since crypto is associated oftenly with untrusty sites, they hired Peter Hawkens to lower their churn rate. This means, clients that came to the site through paid ads, and when on the site, for some reason decided to leave without opening an account. After reshaping their funnel and implementing Google Harmony with an upgraded campaign, CrazyBit lowered their churn rate by 85%.
The Story Of CrazyBit
Created in the Canada amidst the crypto hype of 2017, CrazyBit provides easy access for non-crypto-sabby investors to a wide array of digital assets. Their market niche is currently global and composed mainly of young but impulsive investors.
The Challenge
Graham had been running ads for quite some time. But something in the way the site or company communicated their services was off. In a nutshell, 9 out of 10 paid visitors abandoned the site. The main goal was reducing that rate, otherwise it is ad budget completely wasted. imlessly.
The Solution
Peter Hawkens detected through a strategy analysis that the message and promises the ads made (on discounts and referrals) did not correlate entirely to the info on the site. And on top of that, the ads were being shown to the wrong audiences. They retargeted the audience niche and matched the core messages both in the ads and in the site before implementing Google Harmony was the key factor
The Results
In just a week and the same advertising budget on running ads through Google Harmony, the churn rate fell by 50%, and by the second week it was 85% than when we started. This translates into a much lower cost per acquisition and a higher conversion rate for every dollar spent on ads.
“In a post mortem analysis, it seems obvious what had to be done. But Peter Hawkens where the ones that did it, and not the other three agencies I hired before them. This is now literally more money in my department’s pockets and better results to show” – Graham Brown.
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