The blockchain market is projected to reach $20 billion in annual revenues by 2024 (source). This means that the crypto industry will attract more businesses and face more competition.
As of 2021, the global crypto ownership rate was around 3.9%, with over 300 million crypto users worldwide. (source)
However, billions of people are still not yet part of the crypto ecosystem. They need a business that can connect them to the benefits of crypto.
The potential is huge, but so is the challenge. The only way to succeed is to have an effective marketing strategy that drives growth. This post is for you if you are a crypto business owner or marketer. We will explain what crypto marketing is, how it differs from traditional marketing, and 10 strategies you can use to grow your business.
Define Crypto Marketing
Crypto marketing is promoting and selling products or services related to crypto businesses (such as exchanges, wallets, lending banks, communities, etc.). It involves any activities that aim to increase brand awareness, attract customers, retain customers, and boost sales in the crypto industry.
Crypto marketing differs from traditional marketing in some aspects:
- The crypto market uses new and complex technology and terminology that need to be explained clearly.
- The market is supported and sometimes governed by online communities that strongly influence the industry.
- The crypto industry and its adoption are still early and face many challenges and uncertainties.
These factors require traditional marketers to adapt their strategies and leverage the digital nature and the community-driven culture of the crypto industry.
7 Amazing Crypto Marketing Strategies & Ideas for Business Growth
View here list of 7 amazing crypto marketing Ideas for boosting your business.
1. Invest Into Content Marketing
The crypto world is new and complex, so people need a lot of content to learn about the technology, its potential, and how it operates.
People are always looking for the latest news and insights about the crypto industry, because of the financial opportunities and the novelty of the technology. If your content appears on Google search results, social media feeds, or online communities, you can attract more leads to your platform.
Content also helps you establish authority and trust, by showing that you have expertise and guidance in the crypto field. This makes your brand more memorable and preferred over your competitors.
2. Use Email Marketing
You can use a newsletter to distribute your content to your audience.
For example, CoinDesk has a newsletter that covers the latest news and trends about Bitcoin, cryptocurrency, and digital assets. Coinbase has a newsletter called ‘Coinbase Bytes’ that updates its subscribers on the week’s crypto news. You can also use email to welcome new customers to your platform, announce new launches, or invite them for free webinars.
The benefit of email marketing is that you can reach your audience directly, without relying on any platform’s algorithm. You can choose how you present your message, whether as a text, a video link, or an image. You can design your email according to your brand and your goals. Email feels more personal and engaging than a social media post, so people are more likely to respond to your offers and messages.
3. Build a Community
A community is a group of people who share similar interests.
A community can help you reach the right audience and attract new users. But a community is more than just followers on social media. You have no control or influence over the conversations there.
If you want to have a strong impact on people and your business, use platforms like Reddit or Telegram. Discord is also a popular choice for crypto enthusiasts.
These platforms allow you to create a space for people to discuss and interact with your brand. A community is also a great way to understand their needs and challenges and learn what they expect from your platform. This will help you improve your messaging.
4. Do Crypto Airdrops
Airdrop is a marketing strategy that involves giving away free tokens of your cryptocurrency to people who sign up on your platform or join your community.
This can help you in two ways:
- 1) Building loyalty: People who get the tokens early will be more loyal to your brand because they will feel special and enjoy the benefits of being early adopters.
- 2) Spreading the word: People who receive the tokens will also promote your brand because they will benefit from the popularity of the token.
5. Run Bounty Campaigns
A bounty is a reward or compensation offered for completing a certain task.
In the crypto world, a bounty is paid in the form of the platform’s own cryptocurrency tokens. Instead of spending money on advertising to attract potential customers, bounty programs leverage the network of crypto enthusiasts to find new users.
Bounties are different from Airdrops. In airdrops, people don’t have to do anything difficult. It’s like getting something for free out of nowhere.
Bounties require tasks that take time and may have deadlines too. For example, creating, sharing, or commenting on social media posts, promoting threads on forums, etc.
6. Use Referral Programs
Referral marketing is a marketing strategy that rewards existing customers for bringing new customers from their network of family, friends, and contacts.
It is based on the idea that you are more likely to trust and try something if it comes as a recommendation from someone you know rather than an advertisement on social media.
To run your referral program, you need the following things:
- A unique referral link for each of your current subscribers
- A reward system based on the number of referrals someone makes
- A way to communicate your program to your current users.
7. Choose Your Social Media Platforms
Social media platforms are not equally useful for blockchain, crypto & digital assets companies. Facebook may be the most popular platform, but it attracts an older generation that may not be familiar with digital transformation. Snapchat and Instagram cater to a younger generation that may not have the financial resources to invest in crypto.
For crypto companies, these are the social media platforms that you should focus on:
Twitter: Twitter has a large and active crypto community and influencers, such as Anthony “Pomp” Pompliano, Neeraj Agrawal from Coin Center, and hedge fund manager Mike Novogratz, who regularly share their opinions, insights, and news on the platform.
Coinbase Twitter account has 5M followers! This shows that you should also be present there and provide value to your audience.
Reddit: Reddit is a popular platform for crypto enthusiasts, with millions of members in subreddits like r/CryptoCurrency/ and r/ethereum/, where they can discuss, share, and learn about the latest developments in the crypto space.
Discord: Discord was originally created for gamers, but it has also become a favorite platform for crypto communities. This may be because gamers and crypto fans have a lot in common.
Besides these, you can also use Telegram, which is a good platform for informal communication with your audience.
The Bottom Line
The crypto market is highly volatile and competitive, with thousands of cryptocurrencies and crypto companies failing in 2021 alone (source). However, the global crypto market is still worth nearly $1 trillion. To survive and thrive in this market, you need to invest in long-term crypto marketing strategies.
One of the best ways to do that is to use content marketing and email marketing to share valuable content with your target audience. You can create a blog and post informative and engaging articles about crypto topics that interest your existing customers or potential customers.
Now, if you also want to promote your crypto exchange through various platforms, and so you are looking for a professional Crypto marketing company then you can hire SAG IPL. It is a prominent and leading company that has years of experience. The firm has highly skilled professionals who have experience in traditional marketing to advance marketing tactics. Also, SAG IPL assures timely delivery at an affordable price.