How we generated 10.9M impressions for Polkadot

Campaign Overview

• Generated over 10.9 million impressions, greatly increasing visibility

• Engaged the audience with 364,000+ interactions

• Focus on 3 key narratives: RWA, DeFi, AI

• 208 original KOL content pieces

• Achieved a CPM of $48.82

• Amplification of ecosystem posts & key narratives

A bit of background on Lunar Strategy

We're an award-winning agency that has supported Web3 projects since 2019. We have a proven track record helping brands such as ICP (Dfinity), Oasis Network, MultiversX, OKX, and 150+ more brands.

We provide services including PR, social media marketing, influencer marketing, and fundraising with the goal of increasing brand awareness, reaching the target audience, and ecosystem growth.

Strategy Insights

Step 1: KOL Scouting & Selection

Over the last 5 years, we've grown our network of KOLs, which we utilize for our campaigns. At Lunar Strategy, our research team is actively looking for new KOLs to join our network.

Our objective is a combination of influence and reach.

We measure influence by looking at the KOL's followers.

• How many followers are founders?

• How many are VCs?

• How many other reputable KOLs follow this KOL?

In addition to influence, we also quantify their actual reach.

• How many impressions does the KOL get on the average post?

This balance between influence and reach allows us to continually assess and optimize our KOL campaigns with CPM as the lead measure.

Step 2: KOL Management

After we've identified KOLs with reach and influence, we curate the list of KOLs that are suitable for the project.

The curation process starts by negotiating long-term deals with KOLs with several deliverables in one package to achieve a discounted rate.

After each batch of deliverables is complete, we evaluate the results and optimize our campaign. This involves continuing to work with top-performing KOLs and removing the worst-performing KOLs to bring in new KOLs.

CPM is the underlying metric that helps us understand our campaign effectiveness.

Step 3: Content Briefs on Core Narratives

In terms of our core messages, we've worked closely with the Distractive team to curate monthly narratives that we want to focus on and highlight, such as AI, RWA, and DeFi.

We also use this alliance to identify relevant posts in the ecosystem to amplify with our KOLs.

We created content briefs for our KOLs to create tailored content around each of these narratives and amplify Polkadot's narratives with strategic retweets and quote tweets.

Step 4: Reporting & KPIs

We track our progress through weekly check-ins and key metrics like impressions, engagement, and CPM.

CPM helps us to:

• Optimize our campaigns

• Evaluate KOL performance

• Continuously refine our approach

Campaign Results

Our campaign's success is evident in the following outcomes:

1. Achieved a quality CPM of $48.82, well below the $75 benchmark recognized in the influencer marketing industry as highly effective.
   

2. Significantly boosted Polkadot's social media presence.
   
   Polkadot's X account saw remarkable growth in Q2 compared to the same quarter last year:
   

• Total Likes up 29%

• Total Impressions up 28%

• Median Impressions up 70%

• Median Likes per post up 191%

3. Contributed to Polkadot's increasing adoption and usage.

   
   According to DuneAnalytics, in June 2024 alone, Polkadot secured 35M transactions, with a total of 300M transactions across 50 L1 chains in the past year.
   

   

Performance Results

• Total Investment: $677,928.64

• KOL Content Creation: $512,675.31

• KOL Quote reposts: $20,253.33

• KOL Reposts: $145,000

→ Total Impressions: 10,916,517 +

• From KOL Content: 10,374,391 +

• From KOL QTs: 542,126 +

→ Total Engagements: 364,624 +

• From KOL Content: 359,741 +

• From KOL QTs: 4,883 +

→ Overall CPM: $48.82

• For KOL Content: $49.42

• For KOL QTs: $37.36

Conclusion

Our next steps include refining our KOL selection process to better match our target audiences and core narratives.

We will continue to optimize our campaigns by maintaining collaborations with top-performing KOLs and replacing underperforming KOLs with new influencers.

- Lunar Strategy team