What is crypto marketing? The assumption is that general marketing can be applied to any industry. In a general sense, yes. However, there are traps to avoid and you need to know how and when to use your marketing toolbox. The Crypto marketing waters are more challenging to navigate than your average product or service. The first issue deals with trust. Here’s how to market a blockchain company.
There has also been significant press on fraud during the days of ICOs around 2017 and significant regulation worldwide to protect investors.
There is the challenge of the negative perception of the Cryptocurrency industry owing to fraudsters, hackers, scammers, and speculators. This historic headline risk has caused, until recently, a lot of institutions (and institutional money) from entering the blockchain space.
Inexperienced marketers and many project CEOs do not understand how to develop a marketing mix with this “trust deficiency” as a roadblock to user adoption and investor solicitation. One example is blockchain startups often deploy websites that use illustration, Canva diagrams and videos without revealing the identities of the founders and teams’ personal bios. While large trusted organizations like IBM don’t put their employees LinkedIn bios on the website, (the organization is largely trusted by the world), small startups don’t have this luxury of trust equity. Scam sites often don’t have their founder listed/displayed to hide their identities. Blockchain firms must do more to demonstrate trust. Poorly designed websites also reek of scammy sites. It is important to spend your resources, time, and money to convey to your audiences, a greater sense of quality--a quality that scammers won’t invest in-to implicitly demonstrate trust.
Images and videos of people, rather than illustrations/cartoons on a website or video are able to command 1.5 to 2.8x more engagement because of implicit trust and human emotional response to other humans, vs objects (animated cartoons and stick figures). Customers identify more with people like themselves and react more favorably (as evidenced by conversions) and offer significantly more ROI on your marketing investment (600%-2495% and higher through experience) when your campaign is executed.
To set yourself apart and ahead of your competitors, you will need a powerful, focused Go-To-Market strategy that includes a cryptocurrency digital marketing plan. In our last blog post, we gave a full outline of what the requirements are for an effective marketing strategy.
Components of the blockchain marketing mix include:
A proper community management approach because the heart of any blockchain and crypto project is its community - see a previous post on this exact topic here. Telegram communities can easily get derailed with negative posts.
A targeted PR campaign, and crypto influencer marketing, aimed at garnering project awareness both within the crypto community and outside of this audience for a broader awareness of the project’s impact. But be aware that crypto site PR often doesn’t convert to sales. Learn how to use PR effectively. Get access to our list of the world’s most trusted crypto websites and blogs.
A strategic content marketing rollout to garner organic interest and web traffic using SEO principles and structured content designed to meet community and targeted audiences’ needs. The content’s rollout is done across your projects owned media like your web and social media spaces.
Social media marketing, and Search Engine Marketing can be challenged because of restrictions placed on crypto advertising on Twitter and Google. Not to worry though, we at AmaZix have run the answers to help you sidestep minefields.
These concepts are just intermediate-level insights we offer to help you continue your journey into blockchain marketing. Contact us today to find out exactly how your project can be marketed effectively and get ahead of the pack with an agency that knows the drill!