Cove Markets

Acquired by Robinhood in 2021

Digital Authority Partners helped Cove Markets, a crypto trading platform, increase Product Qualified Leads by 52% and organic traffic by 2,321% in 18 months. DAP’s targeted SEO strategy and content marketing boosted engagement and time on pages by 81.12%, ultimately leading to Cove Markets’ acquisition by Robinhood in 2021.

Increase in PQLs YoY

52%

Increase in Qualified Organic Traffic to the website in 18 months

2,321%

Increase in time on page across the website after the rebranding

81.12%

Client:

Cove Markets

Industry:

Software as a Solution / Fintech

Bio:

Cove Markets is a cross-exchange trading platform that makes it easier for other banks and financial institutions to manage their crypto accounts and react to market conditions in real-time.

How we helped Cove Markets

Digital Marketing Services

Fractional Marketing

Branding

SEO Agency Old

SEO Research

Content Strategy

Technical SEO

Website Analytics

“The DAP’s Fractional CMO was professional, energetic, and responsive. I was surprised how much traffic we were able to attract to our site, and impressed by how well they understand all the ins and outs of SaaS marketing, including branding, content marketing SEO, and technical SEO.”

Scott Knudsen

CEO at Cove Markets

Project Summary

In the highly competitive institutional crypto landscape, Cove Markets faced challenges getting in front of their ideal buyer personas, despite their superior software as a solution platform. With our agency’s expert Fractional CMO strategies, we significantly boosted Cove Markets’ organic website traffic and optimized PQL & SQL conversion rates, paving the way for their successful market exit.

The Challenge

Low Website Conversion Rate

Cove Markets, with its advanced Fintech SaaS product, faced underwhelming website conversions, especially on pivotal product and “How it works” pages. Their digital branding didn’t clearly convey their exceptional offerings for professional traders and institutions seeking transparent, intuitive, and secure digital asset trading. In addition, Cove Markets was struggling to keep current customers engaged and using their crypto research platform on a consistent basis. Recognizing the gap, Cove Markets turned to Digital Authority Partners to expertly emphasize its Unique Value Proposition, ensuring stronger alignment with its core audience.

Not Enough Qualified Website Traffic

Cove Markets had very limited organic reach. Beyond keywords related to the founders’ names and their branded terms, they weren’t capturing organic traffic from critical buy-oriented keywords. Key web pages detailing their platform’s functionality, software offerings, and target audience weren’t achieving top-ranking positions, affecting the inflow of high-quality MQLs and PQLs. To counter this challenge, Cove Markets engaged Digital Authority Partners to strategically enhance their SEO, refine content, and deploy a content marketing strategy designed to bring more qualified leads for the business.

High Cost of Acquisition

In the intensely competitive online crypto trading space, Cove Markets primarily relied on a paid advertising strategy to get more leads through online channels. However, this approach was not sustainable for a crypto SaaS startup with click costs ranging from $20-40 and underwhelming website conversion rates. The SEO digital marketing focused on leveraging an educational SEO strategy around specific topics traders were researching online to reduce client acquisition costs.

How we helped Cove Markets

Digital Marketing Services

— Fractional Marketing

Cove Markets, a cutting-edge crypto trading research platform, partnered with Digital Authority Partners to optimize their marketing and sales efforts in the rapidly evolving fintech landscape. Working closely with the Cove Markets’ founders, we thoroughly audited the company’s website, analyzing lead generation, content, and their existing user experience. We uncovered dozens of website content, branding, and website optimizations, which we included in a marketing roadmap designed to increase MQLs and PQLs within a year.

Digital Authority Partners’ Fractional CMO focused on conversion-orientated website enhancements and creating pages tailored for specific buyer personas. This approach helped Cove Markets refine its value proposition and position the startup for success.

— Branding

Cove Markets needed a comprehensive brand refresh, emphasizing the platform’s simplicity and tangible advantages tailored to institutional traders.

To make the Cove Markets brand more compelling, we rebranded the website with a “Fear of Missing Out” focus, showcasing the lost financial and strategic opportunities for institutions not integrating Cove Markets into their crypto market research and analysis.

Our strategic branding highlighted Cove Markets’ unique selling points and competitive advantages by directly catering to decision-makers at large banks and investing groups.

The results? Nothing short of spectacular. With a laser-focused approach targeting decision-makers within large trading entities, Cove Markets experienced a whopping 50% surge in qualified leads in just two months post-rebrand. This was attributed to compelling new website pages, underscoring the game-changing advantages of embedding Cove Markets into institutional workflows.

SEO Agency Old

— SEO Research & Strategy

DAP identified numerous SEO strategies for enhancing Cove Markets’ rankings with conversion-focused keywords. In the highly competitive and over-saturated crypto investment space, Cove Markets required a strategic and well-researched SEO approach. Rather than pursuing highly competitive keywords, we prioritized a content strategy targeting specific buy-oriented keywords overlooked by major crypto research competitors. Our SEO initiatives focused on driving high-quality traffic, emphasizing relevance over sheer volume. Ultimately, this approach yielded a 14-fold increase in website traffic over an 18-month period, effectively merging the quality of SEO keywords we chose with the quantity of new organic visitors to Cove Markets’ website.

— Content Strategy

Our SEO managers moved from a general “crypto” content focus to a meticulous strategy targeting buy-oriented keywords. By tailoring content to specific user personas, we developed dozens of long-form articles crafted to align seamlessly with these ideal buyer buyers. DAP produced these long-form pieces. Additionally, DAP secured high-quality backlinks, amplifying the authority of both individual pages and the overall website. The results spoke for themselves, as the company increased its organic traffic from 1,260 / month when Cove Markets first started working with us to over 46,000/ month at the time of their acquisition by Robinhood.

— Website Analytics

To enhance Cove Markets’ website analytics, we defined clear KPIs tailored to the company’s success metrics and integrated them into Google Analytics. We segmented the audience based on demographics, behavior, and source, deep-diving into user journeys and tracking the overall digital performance of high-value segments. Our team implemented advanced tracking for critical website interactions and introduced a marketing attribution model.

What We Achieved

52%

Increase in Product Qualified Leads YoY

After working with Digital Authority Partners on a website rebranding project, and an integrated content marketing strategy, Cove Markets reported a 52% increase in Product Qualified leads. These results put Cove Markets in a better position for a successful exit, which happened in 2021 when Robinhood acquired the company.

2,321%

Increase in Qualified Organic Traffic to the Website in One Year

With a revamped SEO strategy centered on purchase-driven keywords, a meticulous overhaul of existing content, and a focus on long-form high-authority crypto trading content, Cove Markets’ website witnessed a staggering 2,321% increase in organic search traffic within a year (from 1,900 organic visitors/month to 46,000 organic visitors/month.

81.12%

Increase in Time on Pages Cross the Website After the Rebranding

Following the comprehensive website redesign, complete with tailored images for every landing page, and a brand refresh, the Cove Markets website's performance improved dramatically —better website visitor engagement metrics, increased conversion rates, and an influx of top-tier PQL & SQL leads.