A Quick Refresher on Crypto and Blockchain
If you’re reading this, you probably have a pretty good understanding of crypto and blockchain technology. But for the uninitiated, let’s recap before we jump into the crypto marketing strategy.
Cryptocurrency is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, control the creation of additional units, and verify the transfer of assets.
On the other hand, a blockchain is a distributed database that allows for secure, transparent, and tamper-proof record-keeping. It’s the underlying technology that powers cryptocurrencies like Bitcoin and Ethereum.
10 Crypto Marketing strategies that work
1. Embrace New Spaces
The world of cryptocurrency marketing is always changing, and new platforms are constantly popping up. If you want to stay ahead of the curve, then you need to be willing to embrace new spaces.
For example, when Cryptokitties first launched on Ethereum, it took the NFT marketing world by storm. And if you were one of the early adopters, then you probably made a killing! But if you had been resistant to change and stuck to tried-and-true marketing channels like BitcoinTalk or Reddit, you would have missed out on the opportunity.
The moral of the story is, don’t be afraid to try new things. The world of blockchain digital marketing in the new Web 3.0 paradigm is constantly changing, and you need to be willing to change with it.
Reddit Threads have been the original way of blockchain marketing. You cannot avoid marketing on this platform despite people moving on to newer spaces.
It is still one of the most preferred channels for crypto marketing agencies to advertise their projects as it gives great exposure. In addition, if a project gets a lot of upvotes on the platform, then Reddit threads are a great way to get those first adopters.
Use Telegram Groups
Telegram is currently one of the most popular messaging apps in the world, and it’s quickly becoming a go-to platform for crypto advertising.
If you’re not already using Telegram, you’re missing out on an excellent opportunity to reach a large chunk of the audience. Several Telegram groups are dedicated to NFT marketing and other ICO marketing needs. Telegram also allows you to create Bots that can help you execute many marketing and communication activities without too much time and effort.
A dedicated Discord Server should also feature in your blockchain marketing strategy. Discord is the new Reddit, but it allows you to create structured communities around your brand.
If you are unfamiliar with Discord, a blockchain marketing agency can quickly help you set up your servers from scratch. Once built, it can become a potent channel to communicate your services and keep in touch with your user base.
Medium is a space where you can share detailed blogs about your new crypto or NFT project and build a following. Since it’s a blogging sphere, it allows you to write long-form blogs designed to give your audience the maximum amount of information.
Combining Twitter with Medium is a strategy many crypto marketing agencies use. They use Medium to draft detailed blogs and use Twitter to give a summary of that blog while redirecting traffic to their Medium pages.
2. Reward Early Adopters
Another great way to market your crypto project is to reward early adopters. As most crypto enthusiasts know, investing as early as possible is the best way to earn exponential returns. By offering rewards or discounts as a part of your ICO marketing strategy to people who buy your tokens early, you can incentivize them to spread the word about your project. Not only does this help to generate buzz around your project, but it also helps to build a community of loyal supporters.
One of the best ways of doing this is by listing on crypto Launchpads like BoostX, TrustPad, and Binance’s Launchpad. By providing early access and discounts on token sales, these launchpads have been able to attract a lot of attention to new crypto projects. On top of this, Launchpads offer an extra layer of security in an industry marred by scams and rug pulls. So this has to be an essential aspect of your crypto advertising strategy.
3. Participate in Airdrops
Airdrops are a great way to generate buzz and get your project in front of a large audience. Essentially, an airdrop is when a crypto project gives away free tokens to its community. Airdrops are usually used to promote a new project or token, but they can also be used to reward existing holders of a particular token.
For example, if you hold Bitcoin, you might be eligible for an airdrop of a new altcoin that just launched. To find people interested in airdrops, simply search for them on Google or use a platform like AirdropAlert.com.
4. Give Up Control to the Community
But be careful; this is not your average Web 2.0 discount or giveaway scheme. A successful marketing strategy operating in the Web 3.0 paradigm must give up the control and extra profits in favor of the community. That means you transfer the ownership of tokens (or NFTs) without any catch during airdrops or giveaways.
In a recent NFT marketing example, owners of Azukis were rewarded with a surprise airdrop where they received 2 BEANZ NFTs for every Azuki they owned. At no cost and with no catch attached!
5. Communicate Effectively From the Top
Doxing yourself means revealing your identity to the community. It is prevalent in the crypto space to be anonymous. After all, that’s what decentralization is all about. However, revealing your identity to your community and that of your team can go a long way in boosting the credibility of your project. It will also significantly help with your cryptocurrency advertisement campaigns.
Ask Me Anything (AMA)
Another crucial part of building a thriving community around your crypto or NFT project is communicating with your community regularly and transparently. AMAs are a great way to achieve this. It allows users to ask you pointed questions, letting them build a personal connection with the project. So, all cryptocurrency marketing strategies should feature this as a perfect brand building and cryptocurrency advertising tool.
Under Promise Over Deliver
When communicating your goals with your community, be careful about what you are promising. There are way too many examples of crypto projects in Web 3.0 that have made grandiose promises but never came close to achieving them. So this community already has a sour taste for a project roadmap that can’t be executed.
So your cryptocurrency advertising message should be carefully crafted and transparent about its objectives. With crypto and NFT projects, it is a good idea to promise the bare minimums that will interest your community but then overdeliver to retain their loyalty like no other.
6. Affiliate Marketing
Crypto affiliate marketing is another excellent way to market your crypto project. Essentially, affiliate marketing is a type of performance-based marketing in which you pay people for results. For example, you might pay an influencer to post about your project on social media or pay a website to run an ad for your project.
The great thing about affiliate marketing is that you only have to pay when someone takes an action you want, such as clicking on an ad or signing up for a newsletter. This makes it a very cost-effective way to market your project. To find affiliate marketing partners, you can search for them on Google or use a platform like ShareASale or Impact.
7. Influencer Marketing
In the world of crypto, influencer marketing is one of the most effective marketing strategies. If you can get a well-known figure in the space to endorse your project, you can see a significant increase in reach and engagement. But how do you go about finding influencers to promote your project?
One of the best ways is to use a tool like Buzzsumo. With Buzzsumo, you can search for crypto-related keywords and see which articles are being shared the most. This will give you a good idea of the influential figures in the space. But, of course, hiring a blockchain marketing agency to do this for you is also not a bad way to go about it.
Another way to find influencers is to search for them on social media. Twitter is a great place to start. Next, search for crypto-related keywords and see who comes up. Finally, you can also use influencer marketing platforms like Upfluence or NeoReach. These platforms allow you to search for influencers by topic, location, or social media following.
8. Launch a Bounty Program
A bounty program is a great way to get your project in front of a large audience. Essentially, you offer rewards for people who complete specific tasks. These tasks can be anything from writing an article about your project to creating a video or even posting on social media.
ICO bounty programs are a great way to get your project in front of a large audience with little to no cost. And if you structure your bounty program correctly, you can get people to do most of the work for you!
To find people to participate in your ICO bounty marketing programs, simply list your crypto project on a cryptocurrency bounty hunting platform like Bounty0x.io.
9. Web 2.0 Strategies That Work
SEO and Content Marketing
If you want your crypto project to be successful, you must make sure it’s visible online. And the best way to do that is through SEO and content marketing. SEO is about optimizing your website and content to rank higher in search engines. You can hire SEO agencies to do the initial bit of SEO for your launch and then maintain it yourself.
Content marketing is about creating valuable and informative content that will help promote your project. For example, creating high-quality blog posts, infographics, videos, and other types of content can attract more attention to your project and get people interested in your work.
Paid ads are another great way to get exposure for your crypto project. By running paid ads on Google, Facebook, and other platforms, you can reach a wider audience and get them interested in what you’re doing. In addition, due to the popularity of cryptocurrencies, there are now dedicated crypto advertising networks like Coinzilla that will allow you to run your ads on publications related to this field.
However, it’s important to note that paid cryptocurrency advertising can be expensive. So if you’re on a tight budget, you may want to consider other marketing strategies first.
Email marketing is a great way to stay in touch with your community and keep them updated on what’s going on with your project. By sending out regular newsletters, you can keep your followers informed about your project and get them interested in what you’re doing.
And best of all, email marketing is relatively cheap and easy to do. So if you’re on a tight budget, this is a must-have strategy in your arsenal.
PR and Media Outreach
PR and media outreach is another great way to get exposure for your crypto project. By reaching out to journalists and influencers, you can get your project in front of a larger audience and generate interest in your work.
Out of all the other Web 2.0 strategies, if you hire a crypto marketing agency for your project, they will definitely recommend you to undertake this step as it is still the most popular way to get the word out.
10. Social Media & Metaverse
Traditional Social media is still one of the most powerful tools in your cryptocurrency marketing arsenal. Not only does it allow you to reach a wide audience, but it also allows you to engage with your target audience directly.
When it comes to social media marketing, there are a few things you need to keep in mind:
1. You need to identify which social media platforms your target audience is using.
2. You need to create content that is tailored to that specific platform.
3. You need to be active and engage with your followers regularly.
With the advent of the Metaverse, social media has become even more critical. The Metaverse is a decentralized, virtual world that runs on blockchain technology. And one of the essential features of the Metaverse is its social media platform, which allows users to connect and interact with each other in a wholly digital way. As a result, many NFT agencies and ICO marketing services have actively started designing their marketing strategies around the various Metaverse universes.
So if you’re looking for an innovative and effective way to market your crypto project, you need to start considering how to sell your project in these digital worlds.
Implement Blockchain Technology in your Crypto Marketing
Using blockchain in marketing has become increasingly popular as more companies adopt it as part of their marketing strategy. There are many reasons blockchain should be a part of your crypto marketing, such as its ability to provide transparency, low costs, and increased efficiency.
An increasing number of brands are turning to blockchain digital marketing for their advertising needs because it gives them greater transparency when running campaigns on ad networks. It also has lower costs than traditional advertising models because there is no need for third-party intermediaries to process payments or collect data.
1. What is an advantage of using blockchain technology?
Decentralization is one of the main advantages of using blockchain in marketing. By decentralizing data and storing it on a network of computers, blockchain provides a more secure way to keep track of information. This can be especially beneficial for marketing and advertising data, which is often stored in centralized databases vulnerable to hacking and fraud.
Another advantage of using blockchain in advertising is that it is immutable and tamper-proof. Once data is stored on a blockchain, it cannot be changed or deleted. As a result, blockchain is an ideal way to track customer data, transactions, and other sensitive information. This feature of the blockchain can also help reduce costs. Because it is decentralized, there is no need for intermediaries or third-party service providers.
Finally, transparency is another significant advantage of blockchain. Because all data is stored on a public ledger, anyone can view it. This can help create more transparency in the marketing and advertising industry, which is often very opaque.
2. Best Practices for blockchain implementation
Now that we’ve covered some of the advantages of using blockchain in marketing let’s take a look at some best practices for implementing it.
When considering how to use blockchain advertising and marketing, it’s essential first to understand the needs of your customers and target audience. Only then can you determine whether or not the blockchain is the right solution for your specific use case.
Once you’ve decided that blockchain is the right solution for your needs, choosing the right platform is essential. There are many different blockchain platforms to choose from, each with its advantages and disadvantages. Therefore, it’s necessary to do your research and select the platform that best meets your needs.
Finally, once you’ve chosen a platform, building your marketing plans with a strong sense of community is crucial. As we discussed earlier, in the new Web 3.0 paradigm, you cannot succeed without considering your community’s wishes and desires. A strong community is essential for any blockchain project, and having a blockchain marketing strategy grounded in that will help ensure its success.