The 4 Marketing Strategies You Need for Your Crypto Project
The largest and most convenience-oriented franchises opened up to cryptocurrency payments, and the world is sticking around to see what other company is going big enough to follow in their footsteps. It’s been almost 13 years since Subway first experimented with Bitcoin in Moscow, Russia, and not long ago, it made use of this modern payment method in Berlin, Germany. Why? Because cryptocurrencies have a potential that’s yet to be fully realised.
Even challenging cryptocurrencies are in their youth because the revolutionary technology, blockchain, is yet to be fully matured, and tech-savvy enthusiasts believe in the power and benefits of digital currency. After all, the reason behind Bitcoin was to create a more secure, transparent, and convenient financial world. And so, it did.
Fast forward, the crypto global user base is increasing; giants like Mastercard announced their interest in virtual currency in 2021, and who knows which other works on similar projects? Microsoft, Starbucks, and more are notable companies that accept cryptocurrency payments outright. Paying with Bitcoin is available to everyone and involves fewer fees. However, before offering your digital asset for a latte, remember that its value is volatile and the payment is irreversible, and check the current Bitcoin price.
With cryptocurrencies becoming increasingly mainstream, other crypto projects must come, as must helpful marketing strategies to allow them to stand out. Marketing for blockchain and cryptocurrency is different, and there are many factors to consider when starting a marketing campaign. Some of them include high market volatility and the novelty of blockchain technology.
It’s challenging, but you can still do your marketing using top crypto marketing strategies. Here are four crypto marketing strategies to help you get ahead of the competition.
Build a community and create a hype.
Establishing and interacting with a community is crucial, just like adding members to it to make it grow. Engagement is about building a new environment and communicating with people, ensuring you can address their concerns.
To succeed, you can create a referral program that rewards existing members for bringing in new members. However, this is risky because many will do it for the reward, so motivating members internally, aside from just offering financial incentives, is recommended. And don’t fear suggestions and criticism because they’re unavoidable. Instead, use them to your advantage to understand how your project can be improved and how to maintain the hype.
Hype is among the crypto community’s most influential and widely-used marketing strategies. No matter what form it takes, it is essential to encourage people to join your community. “How can it be effective?“, you may ask. Well, by stroking people’s feelings of FOMO, putting out special offers, deadlines, etc.
The best time to create hype is before the presale moment. Indeed, it will be a temporary fad because every hype fades after a while, but it can help your project by establishing a foundation for it.
Use social media
Social networks are the backbone of every digital marketing campaign. It all starts here, so you need to create accounts on all the popular platforms to reach each type of audience and keep them up to date with project upgrades. Besides communication, social networks help you build the brand you envision for your project.
Nowadays, every crypto marketing team uses the following:
- Podcasts. Crypto supporters tend to be busy, so they prefer podcasts. If you can’t use yours or other people’s podcasts, consider sponsoring a popular podcast host to read or play your script or sound bite.
- Telegram. Many cryptocurrency users now use Telegram as their primary communication platform, so reaching out to their account helps you contact many crypto owners cost-efficiently.
- LinkedIn. Millions of investors are active on LinkedIn daily, meaning you can connect with people and increase the chances of catching investors’ attention.
- Reddit. The DeFi community spends a lot of time on Reddit, making it a crucial platform for DeFi projects like yours.
- YouTube. There’s no better platform to serve long-form video content and explain your project than YouTube.
- Twitter. Twitter, the “water cooler of the Internet”, is an excellent way to capture your community’s attention.
Issue press releases and work with influencers
Because there are so many online channels, press releases are sometimes overlooked, yet they are an essential part of crypto publishing. Writing and distributing press releases can prove your project’s legitimacy and offer more details.
Building your media list, coming up with exciting and unique ideas, and pitching them to podcasters, influencers, and journalists are all part of the PR process.
The best way to do so is to write crypto guest blogs, and you can reach out to an expert for help or their service.
Influencers are still popular and very helpful in furthering a cryptocurrency’s lifespan. Thanks to the healthy ROI expected from influencers, many marketers allocate a big part of their budget to them. Influencers have such an impact that many people trust them more than regular, sponsored media. The most popular avenues for promoting crypto brands are Instagram, Twitter, and YouTube.
A powerful brand will make your project look legitimate and help you stay ahead of your competition. Potential investors tend to analyze the branding; therefore, you try your hardest to achieve the best outcome for your project.
After you put your marketing strategies in place, use tools to monitor the results of your efforts and measure their success. Here are two helpful tools:
- UTMs. The UTMs have a URL builder that can help trace links across the internet to monitor all traffic directed to your site. Crypto marketing can be difficult, risky, and expensive, but there are marketing agencies that can help your project realize its potential.
- Google Analytics. This is the first and likely the most fundamental tool for measuring the results of your efforts. It provides all the information you need to determine where the traffic to your website is coming from and who is visiting it.
As new crypto projects enter the market, it can be challenging to catch the attention of prospective investors. To get things started, a top crypto marketing strategy should boost the generation of leads for your brand.