The year was 2009.
The world came face to face with the first cryptocurrency, Bitcoin.
Ever since then, electronic currencies have been the news of the hour on several occasions.
But how did they become a household name in a few short years?
In this blog, we’ll get to the bottom of this by understanding the fundamentals of crypto marketing.
And several strategies to expand the reach of your decentralized solutions.
Crypto marketing is all about promoting blockchain solutions linked to cryptocurrencies.
In other words, this is a form of blockchain marketing where you attract people to your crypto offering.
But does adding “crypto” next to “marketing” make any difference as compared to traditional marketing?
The short answer is yes!
Don’t get me wrong. Traditional marketing and crypto marketing are alike in many aspects.
But they also have their fair share of differences.
I shed some more light on this in the next section coming right up.
Traditional marketing and crypto marketing have the same goals, more or less:
But when you inspect deeper, both have very distinct differences which are outlined below:
|
Traditional Marketing |
Crypto Marketing |
|
|
Target Audience |
Focuses on a broad range of demographics, often targeting mass appeal without necessarily having a niche orientation. |
Targets niche audiences interested in technology and finance, specifically those familiar with or curious about blockchain technologies. |
|
Channels Used |
Employs mainstream media channels such as TV, radio, print, and online ads, accessible to a wide but less targeted audience. |
Primarily uses digital channels such as social media platforms tailored to tech enthusiasts, crypto forums, and blockchain networks for direct engagement. |
|
Engagement Strategy |
Utilizes general advertising tactics, PR releases, and promotions aimed at reaching a large number of people with a uniform message. |
Focuses on community building through direct interactions, AMAs, webinars, and active participation in crypto and blockchain events. |
|
Trust & Transparency |
Often perceived as less transparent, using persuasive tactics that may obscure clear information, leading to potential consumer skepticism. |
Emphasizes transparency using blockchain's verifiable and decentralized nature to provide clear, immutable marketing claims. |
|
Regulatory Compliances |
Subject to well-defined regulatory standards across various media, with clear guidelines on advertising practices and consumer rights. |
Navigates a rapidly changing and often ambiguous regulatory landscape, varying significantly by region and subject to frequent updates. |
|
Cost Efficiency |
Can involve high costs due to media buying, production, and intermediaries, increasing the overall marketing expenditure. |
Generally more cost-effective due to reduced reliance on intermediaries and extensive use of digital platforms, lowering barriers to entry and facilitating global reach. |
The complexity and technical nature of blockchain can deter potential users from being customers of crypto.
Marketing essentially steps in to make crypto more accessible, expanding the potential customer base to a global scale.
Engaging content delivered through online channels demystifies crypto offerings and other blockchain-related concepts.
Inviting greater interest and adoption from diverse demographic groups.
The abstract and often intangible concepts associated with cryptocurrency can lead to confusion.
Mostly because turning the intangible into something tangible feels like a Herculean task.
In reality, using the right marketing techniques and tactics can make this effective and fun.
Video marketing combats this engagement hurdle by visualizing information into compelling narratives that keep the audience engaged.
Through dynamic and illustrative visual elements like infographics, you can clarify the perks of using your cryptocurrency and other blockchain solutions.
Thereby maintaining viewer interest and facilitating deeper understanding.
Targeting the right audience in the niche market of cryptocurrencies can turn out to be inefficient and costly at times.
The right marketing strategies allow for precise targeting and real-time analytics, making it possible to adjust approaches quickly and allocate budgets more effectively.
This approach ensures that marketing efforts are not only more affordable but also yield a higher return on investment.
At the end of the day, cryptocurrency is a financial tool.
And when it comes to financial tools, trust is the name of the game.
If people don’t trust your crypto offering, turning them into dedicated customers will be a steep hill to climb.
Crypto marketing focuses on accelerating the adoption of your crypto and related blockchain solutions by building trust.
Digital platforms build credibility by:
Just to name a few.
This transparency helps to alleviate common fears about the security and legitimacy of investing in crypto products, encouraging more users to give such products a shot.
Platforms like CryptoGugu play a vital role in fostering this trust by offering users comprehensive resources and insights, further enhancing confidence in cryptocurrency investments.
The fast-paced nature of the cryptocurrency market requires marketing that can adapt quickly to changing conditions and sentiments.
Video marketing campaigns can be launched and modified swiftly,
Allowing crypto companies to respond to market feedback and adjust their messaging or strategy as needed.
This agility boosts the relevance of your marketing while maintaining its effectiveness.
Targeted visibility is perhaps the best virtue of crypto marketing there is.
Successfully engaging with the specific, often niche audience interested in cryptocurrencies requires tailored marketing approaches.
Video advertising through social media provides a great avenue for targeted marketing.
On the surface, crypto marketing might feel overwhelming.
You might feel like you don’t know where to begin.
Let me help you get started with these six simple steps below:
Begin by thoroughly researching the cryptocurrency market.
Understand the unique characteristics of its audience and their psychology and preferences.
Once you have this information, build detailed audience personas of the ideal customer.
Ask yourself questions like:
Such specific questions will help you personalize your marketing approach to better appeal to your audience.
You can also use the concept of brand archetypes to expedite this process.
Here’s our video on brand archetypes to get you started:
Once you’re clear on the market and the audience you’re trying to reach, it’s time to make them take notice of your brand.
Let’s see how you can do that in the next step.
Some brands make the mistake of not positioning themselves the right way when marketing their business.
This leads to a perception that mostly comes off as tone-deaf and incoherent.
I don’t want that for your brand and I’m sure you wouldn’t either.
So start by creating a compelling brand identity that reflects the values and benefits of your crypto offering.
It could be anything from creating a compelling website landing page to revamping your YouTube channel banner to better align with your offering.
Make sure your brand image is consistent across all your marketing channels.
So when a customer stumbles across your crypto solution in a commercial ad or a blockchain explainer video,
They’ll identify your business instantly!
You have your brand image all locked in and ready to conquer the market.
Before you do that, though, you need your audience to know that your business exists in the first place
And the best way to spread the word is through branded videos and related visual content.
Develop high-quality, informative explainer videos that educate your audience about your cryptocurrency products and services.
Build other marketing channels like:
To reach more audiences.
One tactic that can help you out here is to create a single video that clearly explains your business offering and use it as the main forerunner in your various marketing channels.
We call this the Video-First Approach.
To learn more, you can check out our video on this here:
Blockchain is a niche subject at the end of the day.
Cryptocurrency is a micro-niche within that niche.
So the best way to attract customers in this super-specialized area of interest is to focus on community building.
Scope out social media platforms that are community-oriented like Twitter, Reddit, and LinkedIn.
Find the most popular crypto and blockchain-related online communities on these platforms and join them.
Don’t outright sell your crypto offering the second you join.
Build a reputation first by answering questions and participating in group discussions.
Subtly point to your videos and other relevant content if people want to learn more about what you have to offer.
If you’re just starting out with crypto marketing, it’s better to stick to the organic route.
This is where SEO comes in to save the day.
On the SEO front, choose keyword research tools like Ahrefs and Semrush.
Study high-ranking keywords in the crypto market and pick the ones that are relevant to your business.
Then start adding these keywords into your content to increase its search intent and online visibility.
But if you want results fairly immediately, targeted advertising might be a better option.
Choose the kind of video advertising you want to go with.
It could be anything from YouTube video ads to Instagram video ads.
Choose an advertising platform that offers sophisticated segmentation tools that refine targeting based on demographics, interests, and behavior.
They say you shouldn’t sit on your past laurels for too long.
Once you taste initial success with your crypto marketing, make a record of its key outcomes and ROI.
Use it as a reference to improve future marketing campaigns.
Use analytics tools to monitor important metrics like traffic, engagement, and conversion rates regularly.
Analyze this data to find opportunities for optimization and improvement.
Adjusting your approach based on such real-time data is key to staying competitive and maximizing your marketing impact in the crypto space.
Now that you know how to start with crypto marketing, it’s time to get the ball rolling.
But why settle for a single strategy when I can give you 15!
Let’s look at each strategy closely:
Collaborate with crypto influencers who have a strong following in the blockchain and tech communities.
Study the platforms they post their content on and which one gives them the most amount of traffic.
Propose an offer to them for collaboration opportunities like crypto reviews, mentions, and sponsored posts talking about your crypto solutions.
Along with blockchain and crypto, we’re seeing several innovations in interactive video content as well.
Among such innovations is Virtual Reality (VR).
But how can you use this as a crypto marketing strategy?
Use VR technology to create immersive experiences that showcase the features and potential of your crypto product.
This can include virtual tours of digital asset platforms or simulated trading experiences.
Get started by partnering with VR developers to create experiences that can be showcased at crypto events or through online platforms that you visit or host.
As of Jan 2024, total social media users have surpassed 5 billion as per reports from DataReportal.
There’s a good chance the next user for your crypto product could be among this crowd.
Just goes on to show the importance of having a social media marketing strategy as you target this huge pool of potential customers.
Utilize platforms like:
Essentially any platform where crypto enthusiasts gather the most.
Begin by posting regular updates regarding crypto trends or announcing new blockchain solutions you’re about to launch.
Engage with crypto users and identify their common queries.
Create social media content that answers their questions sincerely while also building your online presence.
Email marketing promises a substantial ROI of 4200% as per the latest numbers from Sixth City Marketing.
And the best way to get started with crypto marketing on email is to create an email newsletter.
Make sure your newsletter talks about things related to cryptocurrency, blockchain, and decentralization to make it more relevant to your audience.
As you build up an email list, promote your crypto products and relevant updates in every alternate newsletter post to ensure it doesn’t come off as spam or forced.
To get more people to sign up for your mailing list, try providing an incentive like a free ebook or discounts on existing crypto products.
Like we saw earlier, building a community around your crypto products is a great way to retain existing customers while attracting new ones.
But what should you do if you’re just starting out?
Engage with external audiences through community forums and crypto-specific discussion boards.
Begin participating in these communities by answering questions and providing support.
As you build a reputation in these communities, start sharing useful information related to your product and how it solves problems for crypto consumers.
Let go of the hard sell and embrace subtlety as much as possible in this case.
Annex Cloud found that referral programs boost customer retention rates by 37% in the long run.
You can extrapolate the same result for your crypto products as long as you play it right.
Encourage existing users to refer new users by offering incentives such as discounts or bonus tokens.
Keep improving upon the incentives of your referral program and promote it to your current users through email, social media, and your website.
Adopting a fairly new product, whether it’s crypto or NFTs, comes with its own share of skepticism.
This is mostly from consumers who rely on tried and tested ways and refuse to try something new.
Which is why you need to ease a prospective customer into your crypto offering.
And that’s where webinars and live Q&As can prove to be effective avenues.
Host events that educate your audience about your product and the technology behind it.
Start by scheduling these sessions and promoting them on social media and through email marketing.
Create FAQ videos that answer common queries about your crypto product and consumers at large.
Gain media coverage by pitching stories about your crypto product to fintech and technology journalists.
Prepare a press kit and send out press releases to relevant media outlets.
Produce behind-the-scenes videos on how you developed your crypto offering and release them on video distribution platforms.
Leverage employee testimonials and UGC videos that give a more personal look into your product development journey.
Utilize NFTs to promote your crypto product by creating unique, collectible tokens that offer holders specific benefits, such as special access to events or services.
Begin by designing an NFT collection that aligns with your brand identity and offers attractive incentives to your audience.
Launch the collection through popular NFT marketplaces like OpenSea and Crypto.com and promote it across your social media channels and to your existing user base.
Just like referral programs, affiliate marketing is also a great way to bring more people to your crypto offering.
It involves a win-win partnership with other businesses or individuals who can promote your product to their audiences for a commission.
Set up an affiliate program with clear terms and promote it to potential affiliates in relevant crypto circles.
Make sure your incentives are outlined genuinely so as to build trust and maintain it.
The latest display advertising statistics from Hubspot found a whopping 53% of marketers used display ads alongside their inbound marketing efforts.
The reason is simple: They’re relevant and highly targeted.
Which makes it a valuable addition to your crypto marketing arsenal.
Commission display ads to be shown on crypto-related websites and blockchain platforms to target potential customers.
Start by identifying popular crypto websites that offer advertising slots and create engaging banners that link back to your crypto products and services.
Sponsor crypto events, podcasts, or newsletters to get your brand in front of a dedicated audience.
Look for sponsorship opportunities in upcoming events and reach out to the organizers for a potential collaboration.
Conduct a token airdrop to raise awareness and encourage the adoption of your crypto offering.
Plan an airdrop campaign that targets potential users, clearly outlining the criteria for participation and the benefits.
Use social media platforms to tease your airdrop campaign, either through posts or video ads.
It’s possible that your crypto marketing efforts can get too salesy at times.
To generate interest, you also need to show consumers how they can use your crypto product and experience benefits.
This is where educational courses and detailed guides can help you out.
Offer free or paid courses that educate users on specific crypto products.
Create detailed guides on the latest crypto trends and various tutorial videos that showcase the uses of your solutions in various scenarios.
Make your educational content accessible, informative, and easy to understand so learners can extract value from it effortlessly.
Develop online crypto tools like return calculators and trading simulators that assist users in understanding the potential ROI upon investing in your crypto product.
These tools are essentially a means to present benefits in a tangible way and attract consumers who are genuinely interested.
Host these tools on your website or make separate landing pages to give prospects a seamless experience and increase your chances of converting them into customers.
After looking at several strategies and tactics to get your crypto marketing efforts off the ground,
We’re yet to touch upon the most important question…
Is crypto marketing worth the investment?
A couple of reasons point to the affirmative:
Crypto marketing can offer a high return on investment.
Particularly because of the highly targeted nature of marketing strategies that directly reach interested audiences.
Crypto enthusiasts are often actively seeking new and innovative crypto offerings.
Meaning well-executed marketing campaigns can quickly translate into substantial engagement and conversions.
Additionally, the global reach facilitated by digital marketing platforms allows you to access a larger pool of potential customers fairly easily today.
The cryptocurrency field is still in a relatively early stage of adoption.
Companies that invest in crypto marketing now can establish themselves as leaders and trusted sources within the community in the long run.
Building a strong brand presence and loyal customer base early on can provide lasting benefits as the market matures and more competitors enter the field.
Early branding efforts and community engagement help secure a foundational market position that can yield long-term profitability.
The global interest in cryptocurrencies and blockchain technologies is rapidly expanding.
With an increasing number of users investing in and using these technologies every day.
By investing in crypto marketing, you can tap into this growing market of tech-savvy individuals who are likely to adopt new financial technologies early.
The expanding user base not only presents direct sales opportunities but also enhances brand visibility and networking possibilities.
Crypto marketing strategies, particularly those involving community engagement and education, can foster strong customer loyalty.
By actively participating in the crypto community and providing valuable resources, businesses can build meaningful relationships with their audience.
Crypto consumers value transparency, innovation, and community support.
Qualities that can be effectively highlighted through strategic marketing efforts.
This loyalty not only improves customer retention rates but also encourages word-of-mouth promotion,
Especially beneficial in making your presence known in tightly-knit crypto communities.
Getting people to invest in a cryptocurrency offering is just one facet of crypto marketing.
It also involves helping consumers make the right decision when seeking out decentralized solutions.
In an age where complicated terms like “cryptocurrency” and “blockchain” are common lingo,
Crypto marketing clears the fog and makes things feel second nature.
Embracing specific strategies, a good number of which I outlined in this blog, is a good starting point.
But to keep making an impact, it’s important to stick to the basics and keep iterating.
Everything else will fall into place as you double down on your crypto marketing efforts down the line.