Following the cope with Manchester Metropolis, OKX expanded its model affiliations in a multi-year cope with McLaren Formulation 1 in 2022. The most recent association this yr consists of the distinguished putting of the OKX model brand on the vehicles’ facet pods for seven races.
After offers with McLaren Formulation 1 and Manchester Metropolis, OKX noticed 70% model recall in a survey of 800 individuals from March 2022 to January of this yr, the corporate mentioned.
The crypto agency additionally sponsored the Tribeca Movie Pageant in June and created NFT passes for competition attendees whereas establishing an interactive “NFT Lab” letting individuals mint their very own NFTs.
“We’ve got entry to shut to 250 million followers globally [via these partnerships],” mentioned Rafique. “It’s a deeper connection than simply shopping for stock on a bunch of various web sites the place you assume your viewers is.”
In 2022, OKX spent $3 million on social media adverts. The corporate has slashed its Twitter spend by 80% and reallocated that price range to TikTok, the place it has seen extra favorable model recall, in response to inside surveys.
The corporate can be investing in growing branded content material, however Rafique wouldn’t share specifics.
Altering public notion
Whereas a complete host of CMOs sometimes attempt to join their advertising endeavors to gross sales, OKX—as a comparatively younger firm—is putting larger emphasis on inside success metrics associated to client sentiments. The corporate tracks this by way of social media listening instruments and polls after its occasion experiences, such because the F1 activations. Reviews declare the trade has 50 million-plus customers.
In a ballot of over 350 people who OKX performed on X, 80% of individuals expressed constructive sentiments in direction of the corporate’s partnership initiatives.
After its Token2049 F1 McLaren Fanzone marketing campaign in September, 83% of Fanzone’s 7,000 attendees opened an OKX Pockets, whereas 80% needed to be taught extra about OKX.
“I used to be very clear in setting that expectation with our founder once I was being recruited,” mentioned Rafique. “It’s in the end in regards to the feeling of our prospects and purchasers.”
This text has been up to date to state that OKX roughly spent greater than $100 million on whole advert spend in 2022.
