Get ahead of the game in the booming blockchain market with a winning crypto marketing strategy.
With annual revenues expected to reach $20 billion by 2024, competition in the crypto industry is expected to intensify. Currently, 3.9% of the world’s population, or over 300 million people, owns cryptocurrency.
Despite a large number of crypto users, there are still billions of potential customers waiting to be tapped into. Stand out in the fierce competition and reach more customers by mastering the art of crypto marketing.
Discover the difference between crypto and traditional marketing, and learn 10 proven strategies for growing your business.
Whether you’re running a crypto business or handling marketing, this guide is essential for success in the expanding blockchain market.
What is Crypto Marketing?
Reach your target audience and grow your crypto business with effective crypto marketing.
This applies to any activity aimed at promoting and selling products or services related to the crypto industry, such as exchanges, wallets, lending banks, and communities.
Crypto marketing differs from traditional marketing in several key ways. The technology and language used in the crypto market are novel and complex, and the market is largely driven by communities and their adoption. Additionally, the crypto industry is still in its early stages.
7 Crypto Marketing Tips for Business Growth
Successful crypto marketing requires a change in the approach of traditional marketers. To succeed in this unique and fast-growing market, it’s important to understand the importance of building brand awareness and engaging with online communities, as well as leveraging the digital aspect of the industry to reach customers and increase sales.”
1.Invest in Content Marketing
Grow your crypto business with informative and engaging content. In the new and complex world of cryptocurrency, education is key.
People are constantly looking for the latest information on technology and its financial benefits, which makes a strong online presence essential.
Sharing high-quality content on your website, through social media, and in online communities can help you attract potential customers and build trust in your brand. As a knowledgeable resource in the crypto world, your content can give you an edge over competitors and increase brand recognition.
Setting up a blog on your website is a convenient way to share valuable information.
CoinSwitch, a cryptocurrency wallet, provides in-depth guides and articles on crypto trading for both beginners and experts and hosts Q&A sessions with industry leaders.
Some effective crypto blog content includes beginner’s guides, cryptocurrency market reviews and trends, expert Q&A or webinars, an up-to-date glossary of crypto terms, and market tips and tricks.
Like CoinSwitch, Coinbase also provides guides, practical advice, and market updates for investors at all levels. Stay ahead of the competition in the competitive crypto market by providing valuable education and resources through content.
2. Use Email Marketing
Stay connected to your audience by starting a newsletter. The CoinDesk newsletter updates followers about bitcoin, cryptocurrency, and digital assets. Coinbase offers ‘Coinbase Bytes,’ which highlights the latest crypto news every week.
Use email marketing to onboard new customers, share updates on upcoming launches, or invite them to webinars. Unlike social media, emails offer a personal connection with the brand and are more likely to result in positive engagement.
To run successful email campaigns, you need a subscriber list, an email platform, and content to send.
Building a crypto community is critical for businesses in the cryptocurrency space. A group of people who share common interests can drive engagement, attract new users, and provide valuable feedback.
Social media followers are just a beginning, but to really impact your audience and business, having a presence on platforms like Reddit, Telegram, and Discord is essential. These platforms enable real-time discussions, feedback, and listening to your customer’s needs, which helps tailor communications.
For example, Binance has Telegram channels that support different languages and regions, while Crypto Hub is a popular Discord community with over 12K followers. Coinbase, on the other hand, has a Reddit community of 207K members.
By participating in these communities, you can not only connect with your customers but also stay up to date with the latest trends in the crypto industry.
4. Do Crypto Airdrops
Boost your crypto’s exposure by launching an Airdrop campaign. By distributing free tokens for sign-ups or community membership, you can maximize the reach of your cryptocurrency token.
This strategy offers two key benefits:
- Boosting Loyalty: Early adopters are more likely to become dedicated supporters, due to their special treatment and the excitement of being part of something new.
- Word of Mouth: Early adopters and free token enthusiasts are motivated to spread the word, as they will reap the financial benefits of a popular token.
A bounty is a compensation or prize for completing a job or task. In the cryptocurrency space, bounties are distributed in the form of platform cryptocurrency tokens. Bounty programs use a network of crypto enthusiasts to attract new users instead of spending money on traditional advertising methods.
Bounties are distinguishable from Airdrops, which are simply given out without any tasks or obligations. Bounties, on the other hand, require effort and may have deadlines, such as posting on social media, reposting, retweeting, promoting threads on forums, etc.
6. Use Referral Programs
Referral marketing uses existing customers to bring in new business by rewarding them for referring their friends, family, and contacts.
It’s based on the belief that personal recommendations from trusted sources are more important than generic advertising.
To launch a referral campaign, you need:
- A unique referral link for each of your subscribers
- A rewards system based on the number of referrals made
- A way to inform your current users about the program
Many cryptocurrency companies showcase their referral programs on their websites, such as Binance and Coinbase.
7. Choose your social media platforms
Snapchat and Instagram, on the other hand, attract a younger audience who may not yet have the financial capability to invest in cryptocurrencies.
For crypto companies, the following social media platforms are worth considering:
Twitter: Twitter is a hub for cryptocurrency enthusiasts and promoters, with thought leaders like Anthony “Pomp” Pompliano, Neeraj Agrawal from Coin Center, and hedge fund manager Mike Novogratz constantly sharing their views and information on the platform.
The Coinbase Twitter account alone has 5 million followers, showing the potential reach and value of the platform.
Reddit: The crypto community is well-represented on Reddit, with 4.7 million members in the r/CryptoCurrency subreddit and 1.3 million in the r/ethereum subreddit.
Discord: Initially designed for gamers, Discord has become popular among the crypto community, perhaps due to the overlap between gaming and crypto audiences.
Additionally, Telegram is a great platform for connecting with your audience in an informal setting.
It’s important for companies in the crypto market to invest in long-term marketing strategies to avoid becoming part of the pile of dead companies and coins. Despite the closures, the global crypto market remains strong.
To ensure success, start with content marketing and email marketing to share your knowledge and add value to the crypto community.
Create a blog and share valuable information with your existing customers.
Keep in mind, success in the crypto market takes time and effort.
There’s no overnight success, so keep pushing and stay focused on your long-term goals.