What is CTR and How Can It Affect the Effectiveness of Crypto Banner Advertising?
In this digital world, we are constantly looking for the next best thing. Blockchain has become a world of its own, and marketers are trying to adapt. The more exposure clients get to a specific product or service, the more they’ll be inclined to convert, and that’s exactly what companies are looking to achieve. With the advent and popularization of the crypto sector, advertisers should naturally adapt their behaviour and positioning to survive and prosper.
However, it is hard to stand out in such a competitive environment if you don’t have the knowledge of running or placing crypto ads right. CTR (Click-Through-Rate) is the measurement of how often, on average, a user clicks on a crypto banner advertisement compared to how many times the banner gets shown. High CTR means that banners are effective and your budget doesn’t go to waste. Recently we talked about PRO tips for increasing publishers’ CTR. So let’s look into the how and why of improving your CTR metrics.
What is CTR?
CTR stands for click-through-rate. It’s the percentage of people who click on your ad, go to your website/app, and eventually convert. It’s the same as how often people actually read your email versus how many emails you send out. A low CTR means that people choose to ignore your ads and walk away without buying anything.
The CTR percentage is used by marketing managers to establish how effective their campaign is. The higher the value, the greater your “Return on Investment” (ROI) will be.
What is a good CTR in this market?
Bitmedia is the one-stop solution to business growth and crypto audience acquisition, and we have the benchmark of dozens of clients – such as Binance, OKEX, Cryptogeek, Digitex, Smart Valor, and 1xbit.com – to base our ideal metrics.
In the blockchain industry, CTR greatly depends on the type of business within the sector. Talking benchmarks, an average CTR of 0.15% is considered to be good and healthy. It means that you’ve set your targeting right, and your banners are well thought through. At the same time, a CTR of 0.15% does not necessarily mean that there is no room for improvement, so let’s see how to boost the effectiveness of the banners on your website, and bring in more leads.
How CTR Affects the Effectiveness of Crypto Banner Advertising
We have already established that a low CTR equals less revenue and an evaporating budget. In fact, it’s one of the key metrics that must be tackled, and here are some factors that usually affect your CTR:
- The content of the crypto banner ad itself: As much as possible, make sure that the content of your banner ad contains the keywords that represent what people are looking for. Also, make sure it’s relevant to your niche and has solid persuasive power to convince people to click on it.
- Your website/app: If you are a publisher/webmaster, you should note that before someone decides whether or not they should click on your banner ad, they have already decided whether or not they should visit your website/app in the first place. If your website/app is not appealing to them, then they will definitely not click on your ad.
- The size of your banner ad: If you want more people to notice your banner ad, make sure it’s visible enough for them to notice it. The size of the ad elements also matter because if they are too small, people will not be able to get the message the advertiser is trying to convey.
How to improve CTR in Crypto Banner Advertising
There are many things to alter in order to improve your CTR in banner advertising. We have selected 10 tips that are guaranteed to enhance the effectiveness of your crypto ad.
- Call to Action (CTA): Add a button to drive the user to your website or application. This kind of direct call to action is always highly effective. With a highlighted CTA, people will understand what is intended from the ad and what is the next step they should make to get more information on the product or service being advertised.
- Demonstrate the interface: This creative type is especially effective for gaming, NFT, and play-to-earn applications. Users are inclined to get to know other applications if they have a visual perception.
- Use questions in the title: Questions on online advertisements are lead to be answered, especially when the potential response is likely to be “Yes”.
- Educate users: Create a simple message valuable to your target audience. Also, you’ll likely increase ad CTR if you can put this message in simple terms in a short video banner.
- Determine the main keyword – Improve ad relevance: The ad relevance is based on its main keyword, which will lead the search query. You should have a clear idea of who your target client is so that the banner ads can be channeled to the right audiences.
- Raise your CPC: If you have the budget, increasing your CPC (the cost per click that you’re willing to spend) might lead to a higher CTR. The more you pay, the higher the position of the ad and the more visibility it will get.
- Use the maximum number of keywords: With this, you reach a broader audience, which might lead to a higher click-through rate.
- Use negative keywords: Include keywords that shouldn’t be addressed to the banner you intend to advertise since they won’t bring conversion.
- Use advanced targeting strategies: understand your audience and set up time targeting, which is the best time to show your ad. based on your personal behaviour. Also, use geographic targeting and select the regions with higher performance.
- Add visuals: Advertisements with a high-quality picture attract and catch the user’s attention. It would help if you chose several options in order to test and understand which of them are the most converting and will lead the campaign to an increased CTR.
The crypto market is a pushing sector. There will be competitors to your product or service, they will evolve fast, and the leading projects are the ones that invest in the best growth strategies. And when you’re looking to increase the effectiveness of your advertising campaign, CTR is the focus.
Use the above-mentioned tips to make your CTR metrics go above and beyond the industry’s common practices. Check out our solutions here at Bitmedia, and join hundreds of advertisers and publishers who run ads that outperform the competition!Increase CTR via Bitmedia