How Do I Run Ads On Bitcoin Cash With Memopay?

I recently had to opportunity to speak with TracySpacy, Founder of Memopay, a new and very unique advertising network built on a the Bitcoin Cash blockchain. This project is a service which allows business to send messages and run ad campaigns targeted directly to BCH users. Intrigued?

Read on to learn more about how this could be a game-changer for driving BCH adoption in the long term and for disrupting the way businesses run ads and communicate with their customers.

Jared: How did you come up with the idea for memopay? Please provide a bit of background about yourself and your team (if applicable).
TracySpacy: Memopay initially started as an extension to the memo.cash social network. It allows people to send funds to any BCH address outside of the memo.cash network (which was not possible before).

One day, one of the memopay users from the BCH community asked if there was a way to add a note to the payment. The question made us think that adding a note to payments might be a good opportunity for companies to communicate with their potential customers. And we believe that establishment of direct communications between businesses and Bitcoin holders is a very important feature that Bitcoin as a new phenomenon needs for it’s wide adoption.
That’s why we have decided to launch memopay.

J: How long did it take to develop the service? (currently it’s not a web application)
TS: Since we are rather familiar with Bitcoin blockchain and were highly supported by BCH community, it took not that much time to develop MVP. We are constantly working to increase its added value and usability for businesses. For example, we recently added a special fancy view for memopay messages and clickable links were added in collaboration with Blockchair. (https://medium.com/@memopay/memopay-messages-new-fancy-view-and-clickable-links-9cbed7f63a31)

J: Do you think advertisers will find this Ad Tech to be a useful new tool to reach Bitcoin Cash users which are a desirable demographic?

TS: Yes, we are confident about it. memopay’s click through rate (CTR) is comparable with Google Adwords’ and email newsletters’ level (according to WordStream and Mailchimp data). At the same time, memopay provides a unique opportunity for direct communication between businesses and Bitcoin Cash holders.

With memopay, Businesses finally get transparency for their ad campaigns: each contact with BCH holders is recorded in transaction in the blockchain and can be easily checked and verified. Ad messages delivered by memopay are sent directly to people's wallets - there is no need to wait until people initiate search, read an article etc.

Unlike traditional media and other ad services that are limited to their audience, memopay’s audience is almost all Bitcoin Cash holders. A company's ad message with active link will be stored forever in the blockchain and will appear in search results, creating a positive long term effect for ad campaigns.

So memopay is obviously a new ad tool for a new epoch— the cryptocurrency epoch.

J: Do you have any stats about the effectiveness of memopay as an
advertising channel?

TS: Yeah, a client with whom we ran the first two campaigns shared with us that they saw a 110% spike in organic and direct traffic to their website in comparison to Google Adwords in the couple of days after the campaign.

As clickable links were implemented on Blockchair for memopay messages, we ran the test campaign to measure CTR and CPC. So for this test campaign, CTR was 2.5% and CPC was 0.87$ (0.002 BCH) within 24h.

It’s also important to mention two other important features of memopay: first of all, each memopay ad message is keyword agnostic: a company can use the most popular keywords, but CPC and the price for one direct contact with key demographic will remain the same. Secondly, the company's ad message with active link is not only stored forever in the blockchain ensuring recurring views and clicks to the same message, but also will appear in traditional engine’s search results creating qualitative backlinks.

J: How affordable is it to reach Bitcoin Cash users? It seems pretty cost effective based on the spend requirements.
TS: 1 direct contact with a BCH holder costs 0.00005 BCH (∼0.022$), whereof 0.00001111 BCH are “paid” to recipient. So, minimal ad campaign for 10,000 BCH addresses costs just 0.5 BCH (∼220$).

J: What do you see the future of memopay looking like?
Bitcoin is a new phenomenon and a civilization-changing technology, and memopay contributes to its wide adoption among businesses. We want memopay to be the first step traditional large corporates and businesses in the industry take when communicating with Bitcoiners and the “crypto” community.

JS: Does the fact that users are sent Bitcoin Cash help the overall impressions and conversions?
This approach is about the creation of more fair relationships between businesses and potential customers, as they actually get paid for their attention. It become a new communication standard in the long term, and will definitely pay off.

Interesting stuff! This is one BCH project to keep an eye on. What do you think about memopay? Is this something you would consider using with your customers? Let us know in the comments below!

 

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