How Apple Search Ads Drove 2x Downloads and 93% Higher ROAS for a Crypto App in 8 Months

Apple Ads (ASA) is often underestimated in the crypto space. Many teams either shy away due to compliance fears, or they assume ASA won’t scale for niche finance products. This case proves otherwise.

From October 2024 to May 2025, we ran a full-scale ASA strategy for a crypto-related utility app — a legal, non-scam, value-driven product that helps users track and manage mining activities. The results?

📈 Downloads up 103%

💸 ROAS up 93%

🔥 CPA down 39%, CPPU down 44%

➡️ 227K+ in total ad spend

Here’s a detailed look at how we got there.

📊 The Baseline

Before ASA, the app had steady traction but limited visibility on the App Store. ASA offered two key benefits:

1. Immediate keyword-level reach to high-intent users
2. Reliable measurement through Looker and in-app events

We launched with a test budget and scaled over time, eventually reaching nearly $230K in spend across multiple campaign types.

🧠 Campaign Structure

We used a classic yet deeply segmented structure:

✅ Brand Campaigns

Targeting branded search terms.

• ROAS: 5,123%
• CPA: $5.38
• Top geos: US + EU

The US was the top performer by far, with ROAS over 7,300%. Even secondary geos like Switzerland and Australia showed strong results, especially on niche brand terms.

🔍 Generic Campaigns

Focused on crypto related generic keywords.

• ROAS: 126%
• CPA: $14.43
• Top geos: EU + ASIA (Taiwan, South Korea)

Germany alone delivered over $30K in spend at ~200% ROAS. South Korea stood out with over 430% ROAS on crypto related keywords.

We ran multiple Custom Product Pages (CPPs) here — color-matched creatives significantly boosted CVR and lowered CPI, especially in the US.

🆚 Competitor Campaigns

Targeting alternative services and platforms.

• ROAS: 226%
• CPA: $9.92
• Top geos: US, EU

Specific CPPs for terms like Ecos cut CPI by $3-6 and improved CVR to 17%.

🔎 Discovery Campaigns

Broad match + search match for long-tail exploration.

• ROAS: 406%
• CPA: $7.26
• Top geos: EU

Despite a higher CPA in some markets, these campaigns were critical for uncovering underutilized keywords and testing new semantic clusters.

🧭 Alternative Placements

We tested Search Tab, Product Pages, and Today Tab.

• Best performers: Search Tab (ROAS 400%+)
• Underperformer: Today Tab (ROAS 30%+)

These formats delivered lower volume, but offered additional touchpoints — especially useful for retargeting and re-engagement.

📈 Metadata + ASO Synergy

ASA wasn’t isolated. In parallel, we ran 8 iterations of metadata updates in the US — refreshing title, subtitle, and keyword fields.

As a result, search visibility expanded significantly:

• +149 rank positions for our main generic keyword etc
• +56.7% uplift in organic search installs

This shows that paid campaigns supported — and were supported by — continuous ASO work.

🧪 Creative Experiments

Custom Product Pages were a growth lever.

Example:

A visually tailored CPP with thematic visuals for bitcoin and other crypto related terms delivered improved conversion in both the US and Switzerland.

We also ran App Store Events regularly, with the latest one generating $7K+ in tracked revenue and boosting long-tail performance afterward.

🌍 Geo Insights

We didn’t limit ourselves to Tier-1 markets. Test budgets in countries like:

• Hungary
• Lebanon
• Cambodia

ROAS 500%–3000%

…proved there’s real untapped potential for payer acquisition in non-obvious regions — especially in crypto, where interest often outpaces infrastructure.

🔧 Areas for Improvement

Despite strong results, two areas emerged as key for further growth:

1. Conversion Optimization
   – Several keywords had low TTR/CR due to missing semantic alignment
   – Ongoing tests with CTA-optimized screenshots and new CPPs are in progress
2. Semantic Expansion
   – High-competition head terms were saturated
   – We continue testing broader thematic variants and alternate language angles

📌 Final Takeaways

• ASA can deliver sustainable, efficient growth even in regulated spaces like crypto
• Smart segmentation + CPPs = better performance across the funnel
• ASO synergy is real — paid campaigns should influence metadata strategy
• Non-obvious geos can unlock extreme ROAS if you know where to look

Want to go deeper or see anonymized visuals from this campaign?

Ready to boost your app’s visibility? Let’s talk ASO & ASA: [email protected] or direct messages
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