Brief • 3 min Read
2022 is the first year that cryptocurrency platforms join the field of Super Bowl advertisers, with both FTX and Crypto.com purchasing ad spots. But to many who have followed these companies’ marketing efforts, their entry into the Big Game will be no surprise.
Both brands have heavily targeted sports fans for the past few years. For $700 million, Crypto.com purchased naming rights to the Laker’s stadium in Los Angeles (formally the Staple’s Center). FTX purchased naming rights to the Miami Heat stadium (formerly the American Airlines Arena).
Crypto.com was the first crypto brand to partner with a Formula One racing team – Aston Martin Cognizant Formula One. FTX signed a deal with Major League Baseball, resulting in the addition of the FTX logo to all MLB umpire uniforms. Throughout the current football season, FTX has run a series of commercials during NFL games featuring celebrities Tom Brady and Gisele Bündchen (who have a stake in the company.)
These examples just scratch the surface of both brands’ full-court press to get in front of sports fans. Now, taking their ads to the Super Bowl, they are guaranteed to reach an audience that extends beyond die-hard sports fans, as 90+ million Americans tune into Super Bowl LVI. Their Super Bowl commercials could greatly help both companies increase consumer awareness of their brands.
Building brand awareness across all generations
Using data from QuestBrand, we get a snapshot of each brand’s sales conversion funnel and brand equity score pre-Super Bowl (data taken from 11/7/21 – 2/4/22).
From the conversion funnels below, we see that the percentage of consumers aware of Crypto.com’s brand (67.9%) exceeds the percentage of those who are aware of FTX (33.8%).
Running ads at an event as prominent as the Super Bowl should drastically increase both brands’ awareness scores, providing each with a wider group of potential clients. They must first increase their awareness and familiarity amongst consumers before they can hope to boost trial and usage of their platforms.
Awareness of the cryptocurrency platforms is highest among younger consumers (Gen Z and Millennials). FTX’s familiarity score stands at 28.3 for younger consumers, versus 13.0 for older generations (Gen X, Baby Boomers, and the Silent Generation.)
Like FTX, Crypto.com’s familiarity score for young consumers (53.2) is more than double their familiarity score (24.3) for older consumers. Since older consumers may have more savings and disposable income than their younger counterparts, building awareness among this older demographic could help to expand both platforms’ consumer bases. Fortunately for both brands, the Super Bowl offers a strong opportunity to increase familiarity across all generations.
Will their investment in Super Bowl advertising pay off?
Check back after Super Bowl XVI wraps up to see how FTX and Crypto.com’s advertising efforts impact consumer awareness and perception of their brands with our second annual Brand Bowl report!
Within the Brand Bowl report, you will see whether your favorite brands’ ads resonated with viewers and positively impacted their brand perception.
Too excited to wait? Review last year’s Brand Bowl report from Super Bowl XV. See what tactics worked for advertisers in 2021 and discover whether these same tactics resonate with audiences in 2022.
Subscribe for more Insights
Subscribe to our newsletter for the latest trends in business, politics, culture, and more.