A 0.16% conversion rate that brought in one million euros

If someone brought you a campaign report with a 0.16% conversion rate, what would you do? That's right—you'd bury it along with the person who made it. The finance department would hide it, management wouldn't understand, and you couldn't include it in any report.

Now, here are the numbers from Sergey Belyaev's speech at the "Growth Point" conference, founder of Loyalz:

airBaltic launched sales of digital collectible aircraft called Planies. 10,000 units at €100 each. They were bought by 2,500 unique holders, averaging 4 planes per person. With a customer base of 1.5 million, that conversion rate is—you guessed it—0.16%.

The result: one million euros in net profit over six months.

So what's the catch?

In product promo, a 0.16% conversion rate is a failure—because there's cost of goods, logistics, and discounts involved. But a digital collection costs nothing to produce. Essentially, as Belyaev pointed out, it's just a segmented campaign—except this time, you charged your customers for taking part.