How a Leading Crypto Exchange Revitalized Growth with In-Depth Customer Journey Insights

One of the world’s oldest crypto exchanges, operating since 2013, was exploring ways to refresh its audience targeting and messaging amid growing competition in its domestic market.

The exchange wanted to map the entire journey of first-time crypto users. From their initial curiosity about digital assets to completing their first purchase.

By identifying key touchpoints, user behaviours, information sources, motivations, and decision triggers, they plan to refine their customer acquisition strategy. The focus is on reaching potential new users with timely, relevant messaging across the right channels.

In doing so, AMP may very well have just opened the floodgates for broader crypto adoption amongst the Australian investing public.

Protocol Theory conducted comprehensive consumer research to map the customer journey

We developed and executed a rigorous consumer research program involving a large and representative sample of consumers—including both existing crypto users and non-users—in the client's core market. Our research design leveraged key strategic frameworks and incorporated advanced statistical analysis techniques such as MaxDiff, Driver Analysis, and Regression Analysis.
By using these methods, we were able to prioritize customer preferences, identify the key factors influencing decisions, and uncover relationships between various motivations and behaviors. This robust approach allowed us to extract nuanced insights into customer segments, their motivations,
and behaviors.

Unveiling key segments and a new growth opportunity

The research identified several critical customer segments and uncovered their primary motivational drivers, preferred information sources, crypto exchange preferences, and potential barriers to entry. More significantly, we discovered a previously unknown, potentially large, and underserved market
segment. This insight presented our client with a substantial opportunity to capitalize on untapped growth potential moving forward.

Strategic insights fuelled renewed growth and an ongoing partnership

Armed with a clear understanding of the crypto user path to purchase, the client redefined their brand positioning and refined their target customer segments. The actionable insights guided the development of new products and features aligned with customer preferences, providing a competitive edge in a crowded market. Following this project's success, the client immediately commissioned Protocol Theory for additional high-impact, strategic consumer research. We continue to work closely as their trusted consumer insights and strategic marketing partner, driving sustained growth and innovation. ◼️