Controlling for Crypto Market Sentiment in Marketing Attribution

Ziglu is a crypto start up that aims to disrupt the banking sector by offering interest rates on crypto holdings. Having recently been acquired by Robinhood, they have ambitions of being the number 1 crypto brand in Europe. CvE was appointed to lead marketing effectiveness services for Ziglu.

Controlling for Crypto Market Sentiment in Marketing Attribution

Challenges

Ziglu is a crypto start up that aims to disrupt the banking sector by offering interest rates on crypto holdings.

Having recently been acquired by Robinhood, they have ambitions of being the number 1 crypto brand in Europe.

CvE was appointed to lead marketing effectiveness services for Ziglu, but we faced a challenge in that crypto market sentiment was highly volatile which meant media often gave very different levels of performance week to week.

This presented challenges in terms of deploying a test and learn media schedule.

Controlling for Crypto Market Sentiment in Marketing Attribution

Solution

Crypto Sentiment as an explanatory variable on marketing performance:

To ensure we were accurately recognising effective channels, we needed to ensure that we were controlling for the impact of crypto market sentiment when interpreting results.

To quantify the impact of market sentiment, we overlaid the Crypto Fear & Greed Index, a daily tracker of sentiment, onto Ziglu’s downloads by day over a 2 year period.

Controlling for Crypto Market Sentiment in Marketing Attribution

Results

We found a strong inverse correlation; whereby crypto sentiment was able to explain over 40% of daily download numbers. This process meant we were able to judge channel performance from two different moments in time in a like-for-like way.

This work proved to be a crucial building block in building a marketing plan for Robinhood’s European expansion, as accurate revenue scenarios could now be produced based on different market condition assumptions.

Controlling for Crypto Market Sentiment in Marketing Attribution

Testimonial

Let’s hear from our client:

The pandemic and lockdown measures brought unprecedented challenges to our business. Working with CvE has been essential for us at ITG to redefine our marketing operations and face this totally new landscape. With significant improvements in the way we plan, execute, and measure our paid media efforts, identify best-performing marketing channels, and tie bottom of the funnel to top of the funnel activity, ITG Group is in a much stronger place now and on the right path to own a marketing model fit for the future.

Richard Singer - Chief Executive

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