Decrypting crypto marketing
Money is something every human being knows of, once they start understanding the ways of the world. You don’t need to train someone about what money is and what its uses are. Of course, this applies only to traditional currencies. When it comes to cryptocurrencies, there are more misconceptions about them than you can count. Since we have been brought up to trust only what we can see or hold when it comes to money, cryptocurrency marketing is an exciting endeavour. Getting people to know about and trust money they cannot hold in their hands is a wonderful challenge. You are not only understanding something unprecedented, but you are also spreading awareness of how the crypto market works. You are contributing to changing the world as we know it, in your own way.
Since we are dealing with something not seen before, you might be justified in thinking that marketing cryptocurrency will also involve some unique strategies unseen or unheard of before. Well, you are partially correct. While there are indeed some new approaches to be taken here, the good old basics of digital marketing still hold true even when dealing with the crypto market. Let’s take a look at how this can be done.
Since cryptocurrency is something many people have little to no knowledge of, educating the target audience is of paramount importance.
This needs to be done not just because you want the customer to invest in your client’s products/services, but also to get them to overcome their reluctance about the entire concept. This can only happen once they are better informed and educated. With over 100 million potential customers/investors, this is an audience which will pay you rich dividends the better you know them and engage with them. A couple of effective initiatives for customer education are as follows:
1. Understand the audience: This is a must-do initiative. You cannot effectively engage with someone you know little about. Understand your target audience in terms of age, tech-savviness (especially), the total value of demand, geography etc.
2. Create awareness campaigns: Create and publish various forms of content like articles, byte-sized videos, posts on social forums like Reddit, Facebook, etc. The key here is to create awareness about cryptocurrencies and related terminology so that your target audience is comfortable talking “the language”.
What we also need to remember is that these initiatives are equally applicable to cryptocurrencies as well as NFTs. NFTs are basically digital assets, which can be thought of as the crypto equivalent of physical assets like art. NFTs are becoming increasingly popular as a means of possessing memorabilia and art without relying on the physical delivery of goods. Once your target customers have warmed up to the concept of crypto/NFTs and are in a more accepting frame of mind, the actual marketing tactics can be put into action. Here, we can get back to the basics and adapt them to the new age. Some of these are as follows:
1. Publish fresh content: Since there is a lot of hype around cryptocurrency, a new person can get quite lost in the sea of content. Publishing relevant, accurate content on a regular basis helps separate you from the other players. This can be done on blogs or websites which are frequented by crypto users.
2. Social engagement: Crypto users are generally tech-savvy and hang out in the “cool” areas on the internet like Reddit or Facebook groups. Submitting links to your content here, answering questions posted by other users and engaging with other users can give your client valuable exposure.
3. Influencer marketing: Cryptocurrency is one area where the early movers and celebrities are held in high esteem. If an influencer talks about your service/product, you are definitely going to see a huge boost in its adoption. For example, you can look at how Elon Musk drove Dogecoin through the roof in an extremely short span of time.
4. Affiliate programs: Similar to influencer marketing, affiliates can be a valuable source of engagement by sending new users to your website/app. This also allows you to piggyback on their reputation and engagement.
5. SEO: Last but not the least, like any web-based content, SEO delivers a lot of engagement value in the long run. However, this is more of a long-term strategy and should not be looked at as something which will pay dividends immediately.
Marketing cryptocurrencies and related products/services is not black magic.Click To Tweet
However, it can definitely be a path-breaking activity because it is a brave new world, and you are enabling the early movers. All said and done, crypto is not so cryptic after all! 😉