Being seen is not always preferable.
Eg. back when SWF was seen at AFL matches some years back, they were burning tonnes of cash per sign-up. (driving the SP very low, and it was only after stopping this advertising that the SP started to improve)
Then in March-April this year, they had a huge amount of free organic sign-ups (word of mouth). An overwhelming amount, so they seemed to reduce some advertising to not throw away the money and create a problem for themselves (customer complains about sign-up delays etc).
Now they have the additional staff after Apr, and they seem to not be overwhelmed any more, so they seem to be increasing the advertising again. They'd start by re-enabling the most efficient advertising first (since they have the historical data).
Etoro being CFDs, probably has higher margins and a different target market, so could afford different advertising to Selfwealth. Maybe Youtube is not the most suitable for SWF, while it could be for Etoro. 'Save money on brokerage' is not the same type of video ad as 'Strike it rich with copy trading'. I'd imagine SWF having a far lower CTR on their video ads than Etoro, in effect, meaning SWF would pay a lot more per conversion.
Though when people are already searching for a broker somewhere, then SWF can get a good CTR.
I remember their Adwords was previously running continuously, then paused to cut costs because WOM was already high, then re-enabled for the ETF only, and now it looks to be paused again. So I guess the ETF had too high of a cost per conversion from Adwords.
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