A Comprehensive Guide on Crypto Marketing For 2023
The amount of blockchain projects is constantly growing, making it harder for companies to stand out from the crowd. Here is where crypto marketing comes in. Let’s take a closer look at crypto marketing and how crypto companies should develop their marketing strategy in 2023.
What is Crypto Marketing?
So, before getting deeper into the details, let’s find out what crypto marketing is:
Crypto marketing is a variation of digital marketing aimed at promoting products and services in the cryptocurrency space.
Everything related to marketing crypto products and services online, such as lead acquisition or branding, can be called crypto marketing. It is not only a particular instrument or marketing tool but a bunch of activities focused on achieving business goals.
Like in any other niche, crypto marketing has features and specifications. However, the first step is the same, whether you’re trying to promote crypto projects, real estate, or FMCG, and this step is developing a marketing strategy.
Building Crypto Marketing Strategy
Crypto marketing strategy is a cornerstone for successful performance. If you want your crypto project to succeed, setting clear goals and building a marketing strategy is necessary.
To set up goals correctly, you can apply SMART criteria. SMART refers to Specific, Measurable, Achievable, Realistic, and Timely, meaning your goals must be objective. Consider your key metrics and performance indicators, evaluate how to improve them, and set a benchmark for your team.
When you have clear goals and a plan vision, it’s time to move to strategy development. To create a strategy that will meet your expectations, it’s necessary to cover the following points:
- Understand your target audience
- Define marketing channel
- Prepare a message
- Implement analytics
- Test launch and audit
If you do not waste your marketing budget, cover all these points before taking any actions on advertising. First, it is necessary to understand who your clients are, how they behave, their fears, problems, and so on.
If you already know this – excellent; the next step is finding out how to reach your potential clients. There are plenty of ways to deliver your message to your target audience in the crypto space, which will be described in detail in the next paragraph.
Main Crypto Marketing Channels
Ok, I hope you already know how to create a crypto marketing strategy, and maybe you have defined some marketing channels for its implementation. Let’s compare how your vision matches our experience! Of course, each project is unique and requires a specific approach, but based on our experience, we would like to highlight some marketing channels which perform the best in the crypto space. Let’s get into the details:
Influencers have proved their impact on crypto projects. People tend to trust KOLs; that’s why influencers have a significant value for the business in such a sensitive niche. Crypto influencers can increase your brand awareness and build credibility for your project, which means a lot to your potential clients.
Influencers can be divided into two categories: micro-influencers and macro-influencers. Each type of KOLs has pros and cons, and which type depends on your business goals.
The difference in both types is in the number of subscribers.
Macro-influencer is the “big dogs” of social media. It is considered Macro-influencers are content creators with more than 100.000 subscribers.
Although macro-influencers have an extensive reach, they usually have lower engagement.
Micro-influencers are content creators with a small and highly engaged following. Most commonly, micro-influencers have at least 2500-5000 subscribers.
If you have concerns about what kind of influencers you should use for your project, just keep the following takeaways in mind:
- Macro-influencers bring more awareness but are also more expensive.
- Reaching our macro-influencers might be more challenging due to high demand.
- Micro-influencers have 47% more engagement compared to macro-influencers.
- Several micro-influencers may have more value than one macro-influencer.
Search Engine Optimization
SEO is the best way to improve your performance in the long run. By optimizing your website and creating useful, engaging content, you can not only increase your visibility in organic search but also attract new clients with minimal investments.
SEO has two aspects: on-page SEO and off-page SEO. On-page optimization refers to content production, metatags optimization, internal linking, h tags, and image optimization; meanwhile, off-page includes external link building, blog posting, ranks, reviewing inclusion, and social media profile development.
Another channel that is also worth considering is PPC marketing. The best feature of PPC marketing is that it is performance oriented. Using PPC platforms, you’re paying for particular results. You have a clear understanding of how much does lead, qualified lead, or customer acquisition costs and can adjust your marketing plan based on performance.
Moreover, PPC tools allow you to focus on users already searching for your solutions, meaning you’ll deal with hot clients.
PPC marketing is a rather broad term. There are plenty of advertising platforms, but here is the list of the most popular solutions:
- Google Ads
- Microsoft Ads
- Meta Ads
- Twitter Ads
- Linkedin Ads
- Reddit Ads
- TikTok Ads
Press releases are a great option to create a buzz around your project and increase brand awareness. As well as influencer marketing, PR can also help you to build trust and credibility, which makes it one of the must-have channels in crypto marketing.
Of course, creating a powerful press release requires a comprehensive approach. Here are some tips that may help you to create a PR post that will be useful for your business:
- Provide value to users
- Base on facts
- Engage the audience
- Do research on relevant media
- Focus not on the website’s metrics
Building your community can help you improve performance and build a loyal audience. Growing and educating your potential clients is a good strategy for the long run. In the crypto space, it’s hard to imagine any successful business without its community.
There is no doubt that community building is a must, but how can you attract an audience to your social networks? Find out some recommendations below:
- Create useful content
- Interact with audience
- Make guest posts
- Use hashtags
- Utilize paid promotion
These five marketing channels have proved their impact for crypto projects and it’s definitely worth keeping them in mind while building your marketing strategy.
5 Tips on Crypto Marketing
When it comes to crypto marketing, you may face many issues. In order to avoid them, keep in mind these five tips that will make your journey easier.
Split your budget
Do not pull all eggs in one basket. Splitting your budget between the channels that bring you the most value is a key to successful performance. Find out what channels perform the best for you and manage your marketing budget accordingly.
Be aware of scammers
There are a lot of scammers in such a sensitive niche like crypto space. Especially in community building, PR posts or offline events, ensure you work with a reliable counterparty.
Build a strong brand
Try to create a powerful brand and make your potential clients trust you. A transparent working flow and strong reputation are essential in the crypto space. Try to get as many reviews for your project as possible.
Do not rush
Marketing is a complicated process. It takes some time to see the first results of your marketing activities. Be patient, follow your strategy, and you’ll reach your expectations.
Analytics is crucial
Ok, you’ve launched marketing campaigns and got some results, but without proper performance analytics, you’ll never see the whole picture. Analyze what channels work better for you, what drives the best ROI, lowest CAC, and other vital metrics.
The Bottom Line
This crypto marketing guide is based on years of experience and dozens of projects. Of course, there is no guarantee that you’ll succeed even following all the recommendations, as there are such essential areas as product development, sales process, and account management, where marketing plays a minor role. Anyway, these tips will increase your chances of standing out from the crowd and overcome your competitors.
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