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Expert Q & A

Should You Pay People Crypto To Opt Into Your Marketing?

July 5, 2022
January 18, 2022
Mae Rice

Permission.io’s CEO Charlie Silver thinks so — and his company has launched a new DSP, Permission Ads, that can do it at scale. Like, Google Ads’ scale.

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Charlie Silver, CEO of Permission.io, thinks so — and his company’s new DSP, Permission Ads, makes it possible at scale. 

It has “the same reach as Google Ads,” Silver said. “We’re connected to all the same supply.” 

The key difference: This DSP was designed for Web3. It lets companies run display ads with a CTA in the corner: “Click to earn crypto.” 

That leads to a branded landing page with a short survey. Users that fill it out earn a few hundred of Permission.io’s cryptocurrency, ASK. (Current market value: $0.0014.)

It’s clear what consumers get in this futuristic deal: money. But what’s in it for brands? Silver walked us through the pros and cons.

PRO: Offering crypto rewards lowers cost per acquisition (CPA). 

If you consider an acquisition “someone volunteering to join your customer database,” campaigns with ASK rewards slash CPA, Silver said. 

Permission.io clients usually see a 3-5X improvement in cost-efficiency — sometimes as much as 15X, Silver said. 

CON: It’s pricier than a traditional media buy.

In addition to buying ad space, brands pay per survey completion.

That’s not that weird, though, Silver noted. Loyalty rewards programs, from airline miles to Kohl’s cash, already work this way: by rewarding individuals for progressing through the funnel. 

Loyalty rewards are a growing industry, too, expected to grow to $17.65B by 2028.

PRO: It lets you nurture prospects long-term.

Advertisers usually build email marketing opt-in into their Permission Ads surveys, Silver said. 

That means brands get custom survey data and a way to use it long-term, for personalized email campaigns and more. 

CON: The payment UX is clunky for first-timers. 

Consumers without crypto wallets  — a.k.a. most people — have to jump through a few hoops to earn ASK. 

They have to share their email, then set up a crypto wallet via emailed link, which just takes a password, but still. That’s a four-step (one-time!) process. 

PRO: Your brand looks respectful — and cool. 

Offering crypto rewards tells customers you value their time and data. Literally.

That “really builds trust,” Silver finds. 

Plus, getting paid in crypto is cooler than getting a few pennies. “Crypto is aspirational,” Silver said. 

Our takeaway? 

Offering customers crypto incentives to opt into your marketing is cost-efficient — in part because of crypto’s cool factor. 

But will the cool last? Will ASK-incentivized leads convert? 

Silver thinks so — and sees ASK becoming a full-funnel crypto reward that marketers use in ads, loyalty programs and everything in between. 

Mae Rice
about the author

Mae Rice is editor in chief at MarketerHire. A long-time content marketer, she loves learning about the weird and wonderful feedback loops that connect marketing and culture.

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