Client: Large Centralized Crypto Exchange, Headquarters in the EU
Market: European Union
Channels: Programmatic Display & Mobile Web
Primary KPI: ROAS (measured on First Deposit)
 

The Challenge
 

The EU crypto market isn’t one market — it’s dozens of different realities. User behavior in Germany doesn’t look like Spain. The Nordics don’t convert like Southern Europe. Regulation, crypto maturity, and trust levels vary widely.
 

The client’s goal was clear: bring in users who actually complete a First Deposit, not just registrations — and do it at a strong, scalable ROAS.
 

Our Approach
 

We quickly realized that running one unified “EU campaign” wouldn’t work. So we broke it down.
 

Smarter Geo Allocation

We grouped countries based on crypto adoption levels and performance signals. Core markets with higher trading activity received more aggressive scaling, while others were tested cautiously with strict ROAS controls.
 

Budgets weren’t static. We adjusted them constantly based on actual First Deposit data, not assumptions.
 

Device & Environment Control

Early performance data showed major differences between environments.
 

We leaned into higher-performing desktop setups for serious traders, while carefully optimizing mobile web for intent-driven users. At the same time, we filtered out outdated operating systems, low-quality browsers, and placements that generated clicks but no deposits.
 

This significantly reduced wasted spend and stabilised ROAS.
 

Creative That Matched Market Maturity

Crypto audiences aren’t all the same. Some markets respond to “easy onboarding” messaging. Others care more about advanced tools, liquidity, or security.
 

We adapted messaging country by country — adjusting tone, trust signals, and value propositions. Multiple angles ran simultaneously, and we quickly cut anything that didn’t lead to deposits.
 

Three-Month Optimization Phase

These results didn’t happen overnight. It took three months of structured testing and refinement — adjusting geo allocation, tightening device filters, and continuously feeding First Deposit data back into bidding decisions.
 

The 586% ROAS shown in the screenshots reflects a single month’s performance, achieved after this optimization period — not a short spike, but the outcome of disciplined performance work.
 

The Results
 

• 586% ROAS achieved across the EU (based strictly on First Deposit data)

• Scalable acquisition of deposit-ready users

• Programmatic established as a consistently ROAS-positive channel
   

Why It Worked
 

We didn’t chase vanity metrics. Everything was built around one signal: First Deposit value.
 

By treating the EU as a collection of different markets, tightening control over environments, and aligning creative with real user intent, we turned programmatic from a broad awareness channel into a predictable revenue driver.