It’s official. Crypto is taking over the world.
In fact, experts believe crypto has the potential to transform the world’s finance, healthcare, manufacturing, and other vital industries forever.
It’s no surprise to see a rise in the number of crypto startups and cryptocurrencies. But, when it comes to online marketing, the cryptocurrency market is significantly different from others. That’s because crypto transactions are difficult to track. Once a transaction is made, there is no going back.
Taking this opportunity, many crypto startups, especially those that featured initial coin offerings, began swindling investors.
Because of this, most people today are skeptical of initial coin offerings (ICO) and crypto startups. Therefore, if you want your crypto marketing campaign to be successful, you must position yourself as a trusted brand.
Let’s understand how crypto marketing differs from other marketing and what to include in your marketing strategy in order to succeed.
What Makes Crypto Marketing Different from Others? What Makes it So Tricky?
Pain #1: Digital Marketing for Blockchain is Expensive
Blockchain and cryptocurrency markets currently have some of the most prominent players. It’s volatile and technologically advanced, making it harder to handle for the average online marketer.
Pain #2: Restricted Paid Advertising
The abundance of crypto scams has led technology giants like Google, Twitter, Facebook to impose restrictions on promoting cryptocurrency startups through paid advertising. For example, you cannot promote initial coin offerings (ICO) via Google and Facebook ads.
Pain #3: Most Crypto Startups Are Considered Scams
There is plenty of history to prove that many crypto startups are just scams designed to strip people of their money.
Bitconnect, for instance, scammed an estimated $4 billion in a multi-level marketing scheme. Further, Bitconnect launched BitconnectX to scam more people, as its first project failed.
Unless you have a lot of valuable content, like videos, articles on established platforms, social media, and PR, you won’t progress. That’s because no one will trust you.
Marketing Strategies for Cryptocurrency
Thinking Beyond Websites and Blogs
When it comes to online marketing, most companies think about websites and blogs. Although websites and blogs are an essential part, they are not the only thing you need to succeed in the crypto world.
Moreover, websites and blogs require strong SEO to appear on the first page of the search engine. SEO takes time, especially when the field is as competitive as crypto and blockchain.
So, here are some crypto marketing strategies you can leverage to gain an audience.
1. White papers
White papers and proper documentation made Bitcoin the most popular cryptocurrency today. The white paper is technical documentation for the technology behind the project.
This is a very competitive space. Maintaining documentation for the developer community to help them find the answers to common questions and build projects quickly is one of the best strategies for cryptocurrency.
Most crypto startups market their project even before it is complete. Because of this, many crypto startups fail before they even launch. But publishing white papers ensures your process is documented and available for anyone who wants to review it.
2. Social Media Marketing and PR
Marketing is all about building an audience. A solid social media strategy will help you build an engaged community for your cryptocurrency marketing.
Twitter Marketing: Twitter is one of the most popular platforms for crypto. SafeMoon, a cryptocurrency, has grown to one of the largest thanks to its viral Twitter marketing.
Also, PR and media outreach will help strengthen their trust in you. Do a press release on major platforms to let your audience know about your brand. Several online press release portals, including expert crypto PR companies, help you publish news and updates.
3. Email Marketing
Did you know for every $1 spent on email marketing, marketers receive $32?
No matter how you email, whether through your email database or a PR firm, emails can keep registered users updated with your project.
Unlike social media, where your posts can get lost among the sea of another post, email is private. You can directly communicate with your readers without fighting for their attention.
Another reason email marketing is so effective is that it is cost-effective. Most email campaigns can be run with lower expenses, unlike paid advertising.
4. Podcasts
Crypto enthusiasts love podcasts. Podcasts are easy to consume on the go. You can either market on other popular podcasts with an established audience or create your cryptocurrency podcast.
Podcast marketing is one of the most popular methods of gaining attention in the crypto space. This is especially true if you lack the time or resources to create your own podcast.
If you want to be featured on other podcasts, you can become a sponsor or a guest.
Sponsoring is an expensive option since you will have to create your script, which will be read by the podcast hosts.
However, if you are interested in conducting an interview, you can contact the podcast host directly. Some popular crypto podcasts are The Crypto Conversation by Andy Pickering, Zero Knowledge by Anna Rose, and What Bitcoin Did.
5. Influencer Marketing
Influencer marketing has skyrocketed in most domains. But, in the cryptocurrency domain, it is much more critical.
The difference between traditional and influencer marketing is that influencer marketing offers significantly higher levels of trust. So much that 63% of online marketers plan to increase their budget on influencer marketing.
Elon Musk supporting Dogecoin on Twitter is one of the best examples of influencer marketing.
Final Thoughts on Creating a Cryptocurrency marketing strategy in 2021
Cryptocurrency is on fire. Now is the best time to take advantage of people’s interest in crypto.
Decentralized marketing will help you grow your brand much faster than ever. Coins like Dogecoin Shiba Inu and Bitcoin have all leveraged the power of communities, influencers, and brand ambassadors to raise awareness faster than one could create on their own.
