Can a $128.95 CPM still result in cheaper deposits? This case study shows how Paid Social traffic generated 42,097 deposits in 30 days — and beat Pop traffic on cost per deposit.
Would a $128.95 CPM make you think twice? Probably.
But a high CPM doesn’t necessarily mean higher acquisition costs. That was the case for an iGaming media buyer who tested Paid Social traffic in Southeast Asia and turned that seemingly high CPM into 42,097 deposits at an average cost of $13.00 per deposit.
For comparison, that was 9% cheaper than Pop traffic over the same 30-day period. Here’s how the campaign performed.
Case Study Overview
The main metric was the cost of a first-time deposit. Instead of focusing on clicks, installs, or other funnel events, the buyer primarily monitored how many users made a deposit and how much each deposit cost.
With this approach, the $128.95 CPM was less of a concern. The campaign was optimized for cheaper deposits, with bidding controlled through a CPA Goal.
GEO 1 took the lead during the first week and remained the strongest GEO throughout the month.
GEO 2 delivered 4,831 deposits at $18.77 each, while GEO 3 generated just 762 deposits at $29.73 per deposit — almost three times the cost of GEO 1.
After seeing the difference in the first week, the buyer didn’t stop GEO 3 completely. Instead, they stopped allocating additional budget to it and shifted that volume to GEO 1 and GEO 2.
As mentioned earlier, that was 9% lower than the cost per deposit from Pop traffic over the same period. Here’s the full comparison:
The higher CPM didn’t prevent the campaign from achieving a lower cost per deposit. In this case, the more expensive impressions may have reflected an audience that was more willing to pay.
Oleksandr Shovkun, Sales Team Leader:
A high CPM can pay off nicely. This campaign’s CPM ran 1.8 times above the pop traffic benchmark, and the cost per deposit still came in 9% lower. One strong GEO can carry the whole campaign. In this case, it pulled ahead from week one and kept the lead the whole month.
The approach worked well for this offer, making Paid Social Traffic worth testing on your own campaigns.
Launch Your Campaign NOW!
Would a $128.95 CPM make you think twice? Probably.
But a high CPM doesn’t necessarily mean higher acquisition costs. That was the case for an iGaming media buyer who tested Paid Social traffic in Southeast Asia and turned that seemingly high CPM into 42,097 deposits at an average cost of $13.00 per deposit.
For comparison, that was 9% cheaper than Pop traffic over the same 30-day period. Here’s how the campaign performed.
Case Study Overview
About the Funnel
The buyer was running an iGaming offer with a PWA funnel structured as follows: a user sees the ad → visits the landing page → installs the PWA → starts using the product.The main metric was the cost of a first-time deposit. Instead of focusing on clicks, installs, or other funnel events, the buyer primarily monitored how many users made a deposit and how much each deposit cost.
With this approach, the $128.95 CPM was less of a concern. The campaign was optimized for cheaper deposits, with bidding controlled through a CPA Goal.
Campaign Flow and Optimization
The buyer started by testing three GEOs. Here’s how they performed:GEO 1 took the lead during the first week and remained the strongest GEO throughout the month.
GEO 2 delivered 4,831 deposits at $18.77 each, while GEO 3 generated just 762 deposits at $29.73 per deposit — almost three times the cost of GEO 1.
After seeing the difference in the first week, the buyer didn’t stop GEO 3 completely. Instead, they stopped allocating additional budget to it and shifted that volume to GEO 1 and GEO 2.
Results and Comparison with Pop Traffic
The campaign generated 42,097 deposits from 4.2 million impressions, with an average cost of $13 per deposit.As mentioned earlier, that was 9% lower than the cost per deposit from Pop traffic over the same period. Here’s the full comparison:
The higher CPM didn’t prevent the campaign from achieving a lower cost per deposit. In this case, the more expensive impressions may have reflected an audience that was more willing to pay.
Oleksandr Shovkun, Sales Team Leader:
A high CPM can pay off nicely. This campaign’s CPM ran 1.8 times above the pop traffic benchmark, and the cost per deposit still came in 9% lower. One strong GEO can carry the whole campaign. In this case, it pulled ahead from week one and kept the lead the whole month.
Quick Summary
Paid Social Traffic can work well when users are already active on social media rather than simply browsing content. In this campaign, that audience delivered strong registration and deposit performance.The approach worked well for this offer, making Paid Social Traffic worth testing on your own campaigns.
Launch Your Campaign NOW!
