Context of crypto marketing or crypto marketing
Blockchain technology has been popularized by the rise of cryptocurrencies, especially at the end of 2021 when a large number of projects and collections of NFTs appeared. During the rise of the markets, there were projects that achieved high valuations thanks to the sale of their tokens and the increase in their share prices.
Once the bull market has passed, many projects have found it difficult to obtain financing for their projects or to sell their products or services. This is why crypto marketing is a term that has recently become popular. And it is that the crypto industry in 2022 is much more than Bitcoin.
Every day hundreds of new companies related to the crypto industry appear, ranging from Defi startups, NFT projects, DAO communities, Metaverse software companies and much more.
So, if cryptocurrencies are so multifaceted, what exactly is “cryptomarketing”? This article will give you our point of view on what crypto marketing is, as a digital consultant who has contributed to the launch of dozens of projects.
What is crypto marketing and how does it differ from traditional marketing?
Crypto marketing is any digital marketing campaign designed to help a crypto company increase its brand awareness, exposure, community and ultimately revenue.
Well, you may be thinking to yourself…. ‘OK, isn’t that exactly the same as a traditional marketing campaign?’ Well, yes and no. You see, while all marketing campaigns are inherently similar in the sense that they are aimed at growth, crypto marketing is a bit different because of the particularities of the communication channels used by buyer personas of blockchain and cryptocurrency projects.
The truth is that cryptocurrency enthusiasts play by a different set of rules. They hang out in certain (digital) places, respond to certain phrases and expect certain things. Simply put, the blockchain industry and cryptocurrencies are a niche with its own unique subculture.
Just as importantly, the cryptocurrency industry is rife with scams. And even if a cryptocurrency startup is legitimate, the market is so volatile that the vast majority of startups close within a year. Because of this, any crypto project should focus more on building trust and growing a real community, while increasing enthusiasm for your project.
Crypto marketing or crypto marketing refers to the promotion of digital assets such as NFTs, cryptocurrencies and tokens using various marketing channels. Cryptocurrency and token projects as well as the launch of NFTs projects use specific channels, as the community of users who invest in these types of projects use specific channels to inform themselves.
Some of the main channels where projects related to the blockchain and cryptocurrency industry are advertised and publicized include:
- Discord
- Telegram
Here are some crypto marketing techniques from real examples that have paid off. Let’s get started!
Content marketing
Whatever industry you are in, it is always a good option to bet on content and the world of cryptocurrencies since it is quite new and complex, it requires a lot of content to educate people about the technology, its future and how it works.
Due to the attractive financial benefits and the novelty of new technology, people are constantly looking for the latest information. If your content appears in Google search results, on social media or Discord forums, you have a much better chance of attracting your customer.
Content also helps build authority and trust if people see that you know what you’re talking about. This gives your brand a place in the minds of your potential buyers and makes people choose you and not a competitor.
The easiest way to share content is to create a blog on your website. Every time someone discovers your blog, they will also automatically discover your website and your offers.
Binance, Kraken, Metamask and many other companies in the ecosystem have a content blog where they constantly publish blogs about cryptocurrency trading for experts and beginners.
See the Binance blog and how it has evolved
As we can see the number of words indexed has been growing substantially over time due to the constant generation of content and the relevance of the brand within the sector measured in external links or back links pointing to the Binance website.
Email Marketing
To share content with your audience, you can start a newsletter.
CoinDesk has a newsletter that focuses on keeping its audience informed about bitcoin, cryptocurrencies and digital assets.
Coinbase has a newsletter called ‘Coinbase Bytes’ where it shares the most relevant crypto industry news of the week with its subscribers.
In addition to a newsletter, you can use email to onboard new customers to your platform, inform them about upcoming releases or invite them to free webinars.
The advantage of email marketing is that you do not depend on the algorithm of any platform to reach your audience.
To run email campaigns, you’ll need three main things: a list of subscribers, an email platform to manage your list, and content to send.
Create and grow your community
A community is a group of people who have similar interests. Creating and growing a community will help you attract the right audience and new users. But a community means more than just followers on social networks. You will not be able to moderate or influence any conversations there.
If you want to have a high impact on people and your business, you should use platforms like Discord or Telegram. In addition to providing a platform for people to have discussions, a community is a great way to hear your pain points and learn about what they are looking for in a platform. It will help you refine the message.
Some examples of communities of companies related to cryptocurrencies and the blockchain industry:
Lunar Crush is a platform that reports on the digital sentiment of a project based on likes, mentions, etc…. With this information you can try to predict the price of the asset. In the following screenshot you can see how the brand is announcing different events and trying to keep the community informed and generating brand engagement.
If you want to join his channel just follow the link below:
If you want to know more about Discord and Telegram channels you can check our post: Cryptocurrency forums: Discord, Telegram and Youtube channels.
Performs airdrops
To distribute your project token in the hands of the maximum number of people, you can distribute free tokens in exchange for users registering on the platform, or simply for being part of the community. This marketing strategy is called Airdrop.
This will help you in 2 ways:
- Generate loyalty: The first users will be the most loyal by virtue of receiving special treatment and the novelty of being one of the first users.
- Spread the word: early adopters and token lovers will also spread the word, as they can profit financially from the token’s popularity.
Conduct rewards campaigns
A reward is a payment given as an incentive for completing a task. In the cryptocurrency world, a reward is given in the form of project tokens. Instead of spending money on advertising to reach potential customers, rewards programs tap into the network of cryptocurrency enthusiasts to find new users.
The rewards are different from the Airdrops. For Airdrops, users do not have to do difficult tasks. It is literally as if something falls out of nowhere, like a gift.
Rewards require time-consuming tasks and may also have time limits. For example, posts, forwards, retweets on social networks, forum thread promotions, etc.
Referral programs
Referral marketing is a marketing strategy that encourages existing customers to introduce their family, friends and contacts to become new customers.
It is based on the philosophy that you are much more likely to buy something or see something if it is a suggestion from someone you trust rather than a promotion on social media.
To run your referral program, here’s what you need:
- A unique referral link for all your current subscribers
- An incentive structure based on how many referrals someone makes
- A way to inform your current users about the program.
- All crypto companies have a dedicated section on their website to promote and explain their referral program. Here are two such examples:
Choose your social media platforms wisely
You don’t have to be on every social media platform. Think about your target audience. As we said at the beginning of this post, users investing in cryptocurrency projects are on very specific platforms. For cryptocurrency companies, these are the social media platforms you should be on:
Twitter: Twitter has a large base of cryptocurrency enthusiasts and promoters because thought leaders such as Anthony “Pomp” Pompliano, Coin Center’s Neeraj Agrawal and hedge fund manager Mike Novogratz constantly post their views and share information on the platform.
Coinbase’s Twitter account has 5 million followers! That shows that you should also hang out and add value to your followers.
Discord: initially designed by video game players, Discord has gained popularity in the cryptographic community. It may be because there is quite a bit of overlap between gaming and cryptocurrency audiences.
Apart from this, you can also use Telegram, which is good for connecting with your audience in an informal way.
Influencer marketing
We’ve mentioned this a million times, and we’ll say it again: influencers bring authority and trust to your company! People trust influencer recommendations more than celebrities because it is easier to identify with influencers.
To see your project take off, credibility and trust must be fundamental pillars. Brands that have launched successful projects can attest to this. While cryptocurrencies are much more popular, 32% of U.S. adults do not trust cryptocurrencies and 25% do not understand them.
Due to the lack of trust and knowledge about cryptocurrencies and related processes, such as OTC cryptocurrency trading or digital wallets or even cryptocurrency transactions, influencers can inform and encourage their audience.
Here are some quick and free methods to find the best crypto influencers:
- Use social platforms to search for influencers manually.
- Use Google to find lists of top crypto-influencers.
- Work with a crypto marketing agency to develop, manage and monitor your entire influencer campaign.
- Reach out to your customer base to turn them into brand ambassadors.
- Don’t rush when choosing your influencers. Many users call themselves influencers, but lack cryptographic expertise or legitimate subscribers/followers.
Opt for influencers who understand the cryptocurrency environment, have worked with brands like yours and have developed a user base.
In conclusion
More than 2000 cryptocurrency projects went bankrupt in 2021 alone, and different cryptocurrency companies close down every month, see the real-time listing. If you don’t want to be in the pile of dead companies and dead coins, it’s time to invest in long-term marketing strategies.
You can start with content marketing and email marketing to share that content. Create a blog and start sharing knowledge with your existing customers or bring value to different communities. Remember, it’s a long-term game. You’re not going to go to the moon right after launching your first publication.
