While the end game remains to make a profit, the crypto industry is unlike any other industry out there. Since Bitcoin came into existence over a decade ago, tens of thousands of crypto projects have been launched with varying degrees of success. Every other day there is a new project in the pipeline promising to be the next big thing.
Competition is fierce, and new developments are unveiled virtually by the hour. Marketing in such an environment can be challenging. Tactics that work in conventional marketing may not bear fruit in the crypto world. Even if the same tools may be used, they will be applied differently when developing cryptocurrency marketing strategies.
Here are some ways to engage existing and potential customers when trying to promote crypto products.
The concept of digital ownership has been around for some time but was brought to the fore again by NFTs. Non-fungible tokens have been used to create value in digital works of art that allow ownership to be passed from one individual to another.
While some NFT sellers will allow you to pay for those tokens in cash or using your credit card, most will only accept crypto. NFT vendors dealing almost exclusively in crypto have proved a great form of marketing to anyone looking to get into the lucrative digital art space.
A sure way to stand out against thousands of competing currencies is to be flexible in the products you offer and the channels you offer them. Becoming a one-stop-shop for all things crypto will make your project more attractive. Instead of just offering another coin, offer your customers the convenience of being able to withdraw it in fiat currency to their bank cards.
Visibility among existing and potential users of cryptocurrency is a moving target. You need to stay abreast of developments in the industry and the digital landscape to remain a relevant force in a constantly evolving market. If you’re developing SEO content for marketing, you will need to ensure you offer readers up-to-date posts that they will be itching to share.
Universe Called “Social Media”
There’s hardly a business today, especially if it has a global target audience that doesn’t use social media. Social media channels are numerous, and each boasts hundreds of millions, if not billions, of users. But users of these channels have diverse interests. The danger is that you may pour funds into social media advertising on a platform where your target audience is not invested.
To get bang for your social media marketing bucks, you need to develop a clear strategy that will begin with you identifying your target audience. It will involve research into the networks they use the most and drill down to the time of day or night when they are most active on those platforms.
There are specific platforms besides the popular mainstream networks that you can use to target crypto users. Publish0x and Steemit allow you to narrow your communication to people interested in digital currencies. Digital marketing and advertising agencies in NYC will identify the best platforms to sell your crypto products effectively.
This is a strategy that can help you focus your social media outreach. Which social media users with thousands, if not millions, of followers can help you spread the word about your cryptocurrency project? While there may be many prominent Instagram and YouTube users out there, not all of them will be a good fit for your brand. And those who may be may use either command too high of a price for their services.
Word-of-mouth marketing has proved an effective tool for many products in the digital space in the past. People are naturally more willing to trust the testimony of someone who has used a product than the promotional messaging coming from the product’s maker. The opinion of an unbiased user can have a greater impact on the decisions of potential buyers than the most eloquent slogans.
Influencer marketing can be called word-of-mouth marketing on steroids, as every follower of an influencer feels they have a bond with them. They trust that the products influencers say they use are beneficial to them.
If You Fail To Plan
Crypto marketing is a vast field offering many alternatives through which you can reach your target audience. But each of those has a cost attached, and in order to realize your envisioned return on investment, you need to choose wisely; for you to make the right choice, you need to do your research well and come up with a solid strategy.