July 15, 2019
0 min read
LinkedIn Lead Generation for blockchain startup
by Iurii Znak
LinkedIn Lead Generation for blockchain startup in 2022


This Case Study will showcase a LinkedIn Lead Generation campaign we implemented for OnLife, a New-Gen travel platform that has a special focus on providing its users with 100% honest and trustworthy reviews to the places all over the world. The platform is blockchain-powered, which enables developers to create a whole ecosystem including social network, payment system, review platform, and even a business networking platform.

The Challenge

OnLife project is currently at the seed stage of investment, while the team is working on a stable MVP. They have already launched a tokensale in order to attract crypto-enthusiasts to their platform, but it is not the only type of investment they are looking for.

During our campaign, client was looking for seasoned Venture Capitalists, who are interested in Blockchain and TravelTech projects. That is why they have decided to use LinkedIn for Lead Generation purposes.


Profile Creation.

To launch this campaign, OnLife team has chosen to create a LinkedIn profile for their CEO, Eduard Sinelnikov. This decision was brought up because investors are much more interested in connecting with actual decision-makers rather than Business Developers or Sales Managers.

When creating a profile, we have considered all the guidelines in order to make it both attractive and SEO-efficient.

Besides that, we have also created several pieces of content to publish it on behalf of Ed. That allowed us to establish a more credible image of Ed as a professional and expert.

As you can see, all the content is directly relevant to the client’s expertise because we have arranged the content plan earlier.

LinkedIn Lead Generation for blockchain startup

Target Audience research.

Initially, OnLife decided to use a ready-made list of Venture Capitalists they have received after initial research. Although it turned out to be full of low-quality leads. Some of these people have changed their focus by the time we connected, some of them did not have a LinkedIn account at all.

However, we have spent a lot of time and human resources to qualify all those prospects and convert them into leads. Despite the fact that list with contacts was outdated, we have still managed to find and contact a lot of potential investors for OnLife.

Here’s a screenshot of the weekly report we were sending to OnLife. All of the prospects that are marked with red color are either irrelevant or not suitable for the campaign. All the green cells stand for people who were interested in making an investment into OnLife. Considering the fact we have only contacted people who were mentioned in the list, these results are rather good.  

LinkedIn Lead Generation for blockchain startup 2022

In order to optimize our LinkedIn Lead Generation process and provide our client with better results, we have created a lookalike audience. We have considered all the crucial aspects OnLife were looking for. Then we have created a list of people who are currently focused on investing in similar projects, and have up to date LinkedIn profiles.

To continue the campaign, we needed to create a set of precise filters in order to connect with proper investors. We needed to contact with only Senior-level specialists who will have interest and ability to invest in OnLife. For that, we have used LinkedIn Sales Navigator filters, as well as boolean search to make it even more precise.

Here’s a screenshot of our filter settings:

Lead Generation for blockchain startup

We have used LinkedIn’s boolean search to make our filtering even more precise. Boolean search is similar keyword search, except it allows adjusting results using different functions. We have used it because people tend to optimize their profiles in different ways, that is why we cannot rely on the title or industry search.

Using a boolean search provides enabled us to fix this. For example, if a person has mentioned the words “blockchain” or “ico” – we were able to find them. However, if this person was not on a Senior position – the search will ignore them.

Here’s a piece of boolean search we used:

“blockchain” OR “ico” NOT (“intern” OR “assistant” OR “advisor”)

Message Script Creation

As soon as we have figured out which people should we target – we were able to create a multi-level messaging script to catch their attention and outline some benefits of the client’s product.

As you can see – this messaging sequence includes 4 different levels of communications, as well as responses to different reactions we could probably receive from our prospects.


Due to the fact that audience research was expensive in terms of human resources, it took us some time to gain momentum. At the beginning of the campaign, we were only able to send around 50 connection requests daily, because it took us a lot of time to qualify every connection.

Although, as soon as we have set the new audience up – our tempo started to grow drastically. In a week, we have reached the 150 requests/day rate.

Besides that, our targeting turned out to be extremely precise. To prove that, here are some screenshots from weekly reports:

Report for 5 June – 14 June

Report for 21 June – 28 June

Results (15th July Update)

We are not able to provide you with the ultimate number of the leads we have provided, just because the project is still running. However, here are some stats from Ed’s profile:

blockchain startup

Besides that, here are some more graphs that represent some main metrics we use to measure the efficiency of a campaign. Please mind that this project lasted 5 weeks and is paused for a reason that our client has to process all the leads.

So, the first graph represents how many requests were sent on our behalf.
It varies week to week because we have tested different audiences. The first two weeks we have used a contacts list provided by our client. After that, we have created a lookalike audience using LinkedIn filters and were able to increase the efficiency of the campaign.

Number of Requests

The next graph represents the number of leads we have received after conducting a dialogue with prospects.


The next graph represents our Acceptance&Reply Rates during this campaign. Just to clarify, the Acceptance Rate is a ratio between the number of requests sent and the number of requests accepted. Reply Rate is a ratio between the number of accepted requests and replies we have received. These results are shown in percentage.

Acceptance & Reply Rates

The last graph represents total results we have received for only 5 weeks of the campaign. As you can see, it is a perfect representation of a classical funnel.

Total Results


We have asked John Carlo Masajo, an OnLife’s CBDO to answer some questions about our campaign. The reason why we have chosen John is that he is the one who picks all the leads up, and he is the one who is responsible for negotiations with investors.

Overall, Mr. Masajo is satisfied with the dynamics our LeadGen campaign delivers. He has mentioned that LinkedIn is the main LeadGen channel they would like to focus on. That is why we are scaling our campaign by adding one more profile that would have quite different search filters and messaging script.

1. Would you give me a quick overview of OnLife?

“OnLife is a TravelTech platform, which enables users to monetize their social media content… OnLife also ensures that all the reviews withing its network are 100% truthful and accurate… OnLife gives expats and migrants a feeling like they are at home even if they are overseas…”

2. How did you come up with the decision to use LinkedIn as a Lead Generation platform?

“A lot of the audiences that we are targeting are business leads (Venture Capital firms within the TravelTech Industry, the Blockchain and Crypto sector, and a lot of professional enthusiasts). The best way to engage them and target them is LinkedIn. LinkedIn is the only social media that is only there for business purposes.

3. What was your main goal when it comes to LinkedIn LeadGen Campaign?

“The goal is to close an investment deal. We are in the seed stage of the project, we need to raise capital to get us to the starting point (the launch of the product). As a CBDO, I believe that the only objective is to seek investment. There are other benefits from the campaign, but they are subsidiary to me. The main goal is to raise money.

4. Are you satisfied with the results of our campaign? What are the main metrics you use to measure success?

“I would say that the campaign is going in the right direction. It is quite premature to say whether it is successful or not because investment campaigns have different timelines and ways to measure results. We will know the success as soon as the deals are closed. My main KPI is the number of qualified leads.

5. Do you have any overall feedback or advice for us as a company?

“As far as a LinkedIn campaign is concerned, everything is in order. I look forward to a more detailed analysis of the results…
My advice is to learn how to work despite insufficient means…
I am impressed by the persistence of the company. I ask all of you to stay with us.

Feel free to contact us and we will figure out how can we generate leads for you!

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