Are you involved in crypto marketing to earn commissions or work as a marketing rep in some crypto company? This article will expose 3 key things for better results in crypto marketing.
Crypto marketing is a branch of marketing that aids in the expansion of businesses, goods, or services in the quickly expanding crypto and blockchain sectors. Therefore, many details comprise this field that is followed by misunderstanding provided that it's not only crowded by those who are knowledgeable and interested in the field but also those who are not.
It is, then, not surprising that crypto/blockchain-based firms that rule out the demographic groups they're aiming for are likely to find themselves trapped in insecurity since other competitors have been far away ahead, leaving them behind.
Apart from it, the key decision makers must take extra caution when it comes to the price, place, and promotion methods, as well as the optimum media for communicating the messages which actually takes more than merely words, particularly in the world of cryptocurrency.
The Hampers in Smooth Marketing
The potential of blockchain technology and the crypto protocols does not level up the awareness of digital assets. For example, NBC News poll reported that only one out of five Americans decided to invest in or used cryptocurrency in the past.
Furthermore, Cardify revealed that one-third of crypto investors said they have limited knowledge about the crypto world. In actuality, only 16.9% of the 750 investors polled said they fully comprehend the worth and potential of their investments, 31% of them were only exposed from the word of mouth, and 49.5% were able to explore the value and potential. From this figure, it's safe to say that crypto marketers should reset their existing mindset.
Uncertain regulations add obstacles to finding the best marketing approach. For instance, UK financial authority announced a crackdown on false cryptocurrency advertising and risky investments, enacting stringent new regulations on how crypto platforms can and cannot be advertised.
3 Things to Improve Crypto Marketing
By figuring out who the target market effectively is, you may render its efforts and marketing budget on the demographics that are most likely to become customers. This also applies to crypto industries. But there are other steps to discuss if you want to optimize your crypto marketing. Let's explore them one by one.
Determine the Right Target Audience
The most important stage in developing a successful campaign, regardless of the industry a company is dwelling in, is determining the potential target market. This entails conducting thorough research to learn about their behavioral patterns, backgrounds, and identities. By focusing on a group of people with common attributes, similar traits, and even specialized hobbies and interests, the company may narrow down the audience and find the ideal target market.
The thing is, not all businesses can afford to market to everyone. Even with the best means, companies shouldn't probably sell their brand to the broader public. And worse, the inappropriate approach may prevent the company from developing close relationships with those who are most in need of their goods or services. This applies also to cryptocurrency industries.
To comply with this situation, crypto marketers should consider several aspects to improve their performance. Prior to this, they should identify who the audience is and what they have in common, in terms of characteristics and interests. By working this out, crypto marketers may start considering the most effective approach
Choose the Most Potential Media
For years, companies wishing to reach a wide range of media outlets have turned to traditional press release services like Business Wire, AccessWire, and PR Newswire.
These services may be effective for more conventional businesses but not for crypto companies. Instead of obtaining information from those, crypto audiences primarily read news on crypto news websites. Crypto marketers need crypto-specific media outlets such as CryptoNews, Coindesk, and Cointelegraph.
Chainwire, a platform for distributing press releases focused on the cryptocurrency industry, has a higher likelihood of getting the message to interested parties. In addition, its specialized distribution model allows cryptocurrency projects to be highlighted on reputable crypto news websites as opposed to broadcasting their message to a broad audience. To run it well, this should be supported by the technology and ecosystem as well as the knowledge to utilize it.
Consider Influencers, Content Marketing, and Ads
Options are still available, taking the form of influencer marketing, content marketing, and pay-per-click (PPC) ads along with the respective challenges.
In this instance, finding reputable and trustworthy cryptocurrency influencers who are eager to support the project can be considered even though it's rather challenging. The reason is because of the fact that influencer marketing can be an effective approach to reach a huge and interested audience.
On the other hand, building thought leadership through content marketing is a terrific strategy to increase organic traffic to the website. However, it can be quite challenging to consistently create high-quality content and harder to provide it to the correct audience.
Lastly, PPC can bring victory due to the effective campaign and well-received return on investment. However, many obstacles are on the road while crypto marketers drive for government approval as crypto marketing is prohibited in many places.
Crypto marketing may face challenges during the journey, including people's interests and government restrictions. As marketing is not the idea of one for all, rotating the abovementioned ideas should be well-considered.
Most importantly, choosing the proper audiences as targets, instead of merely considering the marketing channels, to advertise and represent the crypto, is the mandatory step in designing the campaign. This will save time and budget as the right message is transmitted to those who have already benefitted and are willing to benefit from the cryptocurrency.