OpenSea Case Study

About OpenSea:

Devin Finzer and Alex Atallah were fascinated by the new movement that was forming, so they joined early adopter communities in Discord and started talking to users. They soon realized the potential of a burgeoning new asset class – non-fungible tokens (NFTs). With this realization, they launched OpenSea in December 2017, which became the first open marketplace for any NFT on the Ethereum blockchain.

In the time since its launch, OpenSea has grown to become the largest general marketplace for user-owned digital items, supporting multiple blockchains. It has become renowned for its broad set of categories and competitive prices for new emerging digital item classes. OpenSea is proud to remain the go-to platform for digital assets, and it’s constantly striving to make it easier for users to find the perfect digital item.

OpenSea is dedicated to giving users complete control over their digital assets, offering a secure and easy way to discover, buy, and sell digital items. Whether it’s NFTs or other digital asset classes, OpenSea makes sure that users have all the tools they need to buy and sell safely. With its 24/7 customer support team and advanced fraud prevention technologies, OpenSea is revolutionizing the way people interact with digital assets.

The challenge:

OpenSea partnered with HeyLead to develop a paid search marketing strategy and execution. The biggest challenge in this project was the need to quickly be up-to-date with the NFT and ever-changing cryptocurrency industry. An extensive research had to be done before developing campaigns and scaling the SEM account from the ground up.

We developed custom paid search marketing campaigns specific for the industry and OpenSea. We pinpointed target keywords and then divided them into different ad groups, optimizing each ad group for different audiences and intents. We then wrote targeted ads for each ad group, dedicating time to keep them updated with new market trends and developments.

We monitored closely all campaigns, optimizing them on a weekly basis in order to maximize Return on Investment (ROI). Additionally we performed regular A/B testing on different ad copy variations in order to improve click-through rates. Our approach allowed us to reach maximum efficiency within a short time frame.

All in all, our ability to stay ahead of the ever-changing NFT/cryptocurrency industry combined with our expertise in paid search drove remarkable results for our client.

The result:

After just 6 months of Google Ads paid search management, OpenSea has seen a big jump in website traffic. We managed to maintain low cost per click and acquisition rates, while constantly scaling the account. Their ROAS increased from both branded and non branded traffic.

Unfortunately, the entire global economy was affected by the economic downturn mid 2022, impacting the cryptocurrency industry as well. OpenSea’s paid search traffic was affected as a result, but they were able to develop successful campaigns on various other channels to maintain their momentum. This included some creative SEM strategies to keep up the growth of their paid search traffic.

The graph above is for illustrative purposes only! It doesn’t represent actual paid search traffic for OpenSea. This graph is pulled from SEMRUSH.