How Trust tripled user sign-ups through marketing collaboration with Ramp Network

Trust is a popular non-custodial crypto wallet that offers an all-in-one, multi-chain solution. It allows users to securely send, receive, exchange, and hold digital assets, such as cryptocurrencies and NFTs. Their wallet supports multiple blockchain networks and is available on iOS, Android, and as a browser extension for desktops.

Strategic campaign with Ramp Network

Trust was looking to explore innovative strategies to increase user acquisition, retention, and transaction volumes through a targeted campaign. At Ramp Network, we’re continuously doing user research and testing different types of promotions. Our objective is to offer cooperative campaigns that are both cost-effective and create a community of users who are more likely to engage with our partners long-term.

We brainstormed what kind of campaign would help Trust onboard more users and decided on the First Transaction Free promotion, which has proven successful in previous tests. Note that the “first transaction free” promotions are not available to Ramp Network’s UK-based customers.

First Transaction Free Promotion

Following a discovery session based on Trust’s goals, we teamed up with their team to launch their very own First Transaction Free campaign. 

Sami Juhani Waittinen, Head of Marketing at Trust, stated: "We were looking to run a campaign to allow DeFi and self-custody users to explore the convenience of fiat-to-crypto top-ups together with Ramp, with a few steps directly via the Trust Wallet app."

‍TL;DR: In a nutshell, we waived the fees for users that made their first Ramp Network transaction via the Trust app. Our hypothesis was that this would lower the barrier to entry and make Trust an entry point for first-time buyers of crypto assets who also want to store those assets securely.

Key results from the promotion

The promotion ran for a week, between 5 and 11 June 2023, and it was a huge success, surpassing expectations. This success can be attributed to Ramp Network’s and Trust’s strengths: 

• a seamless onboarding experience;
• zero transaction fees, and 
• a non-custodial, secure environment. 

Joint social media efforts by both parties also played a crucial role in bringing in new users.

Here are the main takeaways*:

👥 300% increase in new user sign-ups via Trust 

During the promotional period, Ramp Network experienced an impressive 300% increase in new user sign-ups from users in Trust when compared to an average week. 

The attractive offer was a powerful incentive for individuals to take the leap and purchase crypto using the Trust <> Ramp Network integration.

📈 Over 200% increase in transaction volumes via integration 

The overall volume of Ramp Network transactions via Trust's Ramp Network integration during the promotional period saw a remarkable increase of more than 200%. 

This volume growth was composed approximately by one-third from users eligible for the promotion, and two-thirds from returning users.

This massive volume increase is a testament to the success of the collaboration in attracting both new and existing users to engage actively with both platforms.

💰 153% increase in average transaction size 

The promotional period also saw a substantial leap in average transaction sizes for new users, skyrocketing from $68 to $172.20. This remarkable 153% increase demonstrates high confidence and trust in Ramp Network.

🔁 Repeat transactions and revenue boost 

Nearly 25% of the new users made more than one transaction within the same week, showing a high level of engagement among the new user cohort. 

Moreover, the volume generated by the increased transaction frequency and the loyalty of returning users has offset the costs of the campaign, resulting in a significant revenue boost of over 50% during the campaign period for Ramp Network users via Trust.

*Based on data collected by Ramp Network, from the transactions which took place via Ramp Network integration on Trust Wallet.

Lasting benefits of the campaign

Based on data from users that signed up with Ramp Network via this campaign, we've detected lasting positive effects:

💵 Increase in fund rate 

Data collected after a similar campaign with another partner shows that the promotion may lead to substantial increases in fund rates (the rate of users who actually add funds to their wallets) - in that partner’s case, a 50% uplift.

⬆ Enhanced retention rates 

Data suggests that retention rates for users who fund their wallets via an on-ramp could be 2x as high when compared to users who have funded their wallets using a different method (measured as activity in the second month after the first deposit).

👤 Increased user engagement 

Users who participated in past promotions exhibited an 80% increase in monthly app opens, indicating a greater level of interaction and interest in the platform. 

Participating users also demonstrated a 35% increase in DeFi investments, highlighting their willingness to explore and participate in decentralized finance. 

Finally, there was a substantial 12% increase in monthly trade volumes, reflecting the boost in activity and user engagement after the campaign.

Conclusion

By all metrics, the campaign co-run by Trust and Ramp Network has been a resounding success. Not only has the campaign brought in more new users, but also more engaged ones. And, as previous data shows, such campaigns can have long-lasting positive effects.

While zero-fee campaigns aren't applicable in all cases, Ramp Network’s ability to come up with creative, tailored marketing strategies ensures that we can always find the best approach to meet our partners' needs and drive significant growth.

Looking to add a seamless on- and off-ramp flow to your app? Get in touch now and let’s find out how we can help!