Cryptocurrency and blockchain technology are going through profound developments. Although mass adoption might not be possible immediately, these technologies are becoming increasingly popular among modern investors. And with so many innovative crypto projects releasing frequently, cryptocurrency marketing has become a necessity for brands and enterprises.
According to TradingView, the total market cap for cryptocurrencies surged to nearly $3 trillion on November 7, 2021. This is almost a 225% increase over the $923 billion market cap at the end of 2020, which itself was a 380% rise over the market cap recorded in 2019. Another report from CNBC revealed that crypto and blockchain startups raised a whopping $25.2 billion in 2021 alone. This is eight times more than the figure reported in the previous year.
These numbers are a statistical testament to the exponential growth witnessed in the sector. And the trend is only expected to continue. Consequently, we see new crypto projects and brands being launched every week, strengthening the projected growth in the industry.
However, the flip side of this impressive performance is the heightening competition within the crypto space. The new entrants, especially, take the brunt of this constant tug-of-war, leading to much instability and speculation in the industry. A solid cryptocurrency marketing plan is, therefore, at the heart of every successful crypto startup and project.
Why Is a Cryptocurrency Marketing Strategy Important?
Following are some of the reasons why a fool-proof crypto marketing strategy is the need of the hour:
1. Reach New Audiences
Even the biggest crypto companies always actively work towards getting their projects out there to reach new people. In fact, expansion of your target-audience range is not a phenomenon exclusive to the crypto world. Mega brands like Coca-Cola and Levi’s also spend millions on their promotion strategies to attract newer audiences.
However, the need to attract new users with innovative marketing campaigns is even greater for emerging crypto brands that have a very limited audience to start with. And to achieve that, an effective crypto marketing strategy is vital.
2. Stand Out Amidst the Fierce Competition
Ever since investors started jumping onto the crypto bandwagon, we have seen numerous crypto startups debut. Even though most of these are either pump-and-dump projects or offer nothing new, they add to the noise. As a result, investors are often confused regarding which project to invest in.
That is where differentiated marketing approaches, such as ICO marketing, crypto marketing, and digital currency marketing, can spell the difference between success and failure for your new crypto project.
A powerful marketing strategy can help marketers single out a crypto project’s individuality. This, in turn, can help it stand out in the over-crowded crypto space and shine.
3. Educate Your Target Audience
Although the crypto industry is a lot bigger than it used to be, crypto and blockchain are still evolving technologies. Hence, many people still have a lot of doubts, concerns, and confusion regarding this space. Uncertainty also prevents many intrigued investors from dipping their feet into the crypto world.
- According to a survey by Yahoo Finance, 98% of laypersons do not have the basic knowledge of Bitcoin and other cryptocurrencies.
- CNBC reported that one in every three crypto investors possesses very limited knowledge of how cryptocurrencies actually work.
The awareness and understanding of blockchain innovation are low in the masses. But this, too, can be tackled with an efficient cryptocurrency marketing strategy. Such a strategy should not only promote your project but also educate consumers on its finer points. If your audience does not understand your project fully, they will never feel confident enough to invest in it.
Top 7 Cryptocurrency Marketing Strategies of 2022
Now that we’ve touched on the necessity of cryptocurrency marketing, let’s delve straight into the best crypto marketing strategies.
1. Digital PR and Media Placements
Marketers use digital PR strategies to improve a crypto project’s brand awareness and online reputation. They achieve this by leveraging their connections with press publications to get their projects featured in different crypto media outlets.
Also, remember what we said earlier? A good crypto marketing strategy should not only attract new audiences but also educate them about your project. And there is hardly any marketing technique that does both these things better than digital PR and media placements.
Top crypto-media publications, like Bitcoinist, Yahoo Finance, or NewsBTC, have millions of loyal and dedicated readers who trust their word. So, imagine the kind of attention and credibility your brand will receive when any of these platforms publish articles about your crypto project!
2. Social Media Marketing
Understanding your target market is the first step of a successful marketing campaign. In the case of the crypto industry, the market is dominated by a relatively young audience. A study by Pew Research Center revealed over 60% of American crypto investors are aged between 18 and 29 years.
To engage with such a young consumer demographic, you need to take your marketing pitch to their most-frequented platforms. Your best bet is to approach these young crypto enthusiasts through social media platforms where they spend the bulk of their time. The one-to-many model of social media makes it the best channel to reach out to a large audience simultaneously.
As the entire crypto community gathers on these platforms, an emerging crypto brand cannot afford to ignore this marketing avenue. Let’s take the example of Twitter, which is pretty much considered the ultimate hub for hard-core crypto and NFT followers.
Twitter is where everyone discusses all kinds of upcoming crypto projects and the latest blockchain events. Targeting the right community through crypto Twitter marketing can be especially effective during the pre-launch of your project.
Other social media sites popular among blockchain enthusiasts include Reddit, Telegram, and Discord.
3. DM Marketing
DM (direct message) marketing may be a fairly new crypto marketing strategy, but it’s not one lacking in impact.
With DM marketing, you can engage with your target audience directly instead of leaving your luck on the newsfeed algorithms. In this regard, as well, Twitter is the most useful, impactful, and practical platform. You can reach out to thousands of crypto enthusiasts on the platform at once by leveraging crypto Twitter DM marketing.
There are two significant advantages to using Twitter DMs for crypto marketing:
Marketing teams usually have to allot a substantial sum from their budget to graphic designing, video editing, etc. But Twitter DM marketing requires just a convincing pitch and copywriting experts who know how to deliver. Thus, it saves you money which can be spent on research and other areas.
- More Efficient
There’s only one thing worse than no marketing: marketing that annoys the audience. Promotional campaigns which bombard people with ads without defining a target audience result in people losing interest in your project. However, Twitter DM marketing for crypto avoids such complications. It takes the marketing pitch directly to the inbox of only those who show interest in the crypto space.
4. Listing on CoinMarketCap
Launched in 2013, CoinMarketCap is the most popular price-tracking website in the cryptocurrency world. Crypto investors and enthusiasts use it for tracking the prices of the crypto projects and assets they’re interested in. People also use the platform for finding other important data regarding different crypto tokens and NFTs projects.
Moreover, its online library, Alexandria, featuring thousands of educational articles, is another reason for many users to frequent the website. According to some online trackers, the online library receives more than 12 million visits every day.
Therefore, getting your crypto project listed on CoinMarketCap can help direct massive traffic towards it. Moreover, it will also help you solidify your crypto brand’s credibility within the space. For these reasons, listing on CoinMarketCap is a crypto marketing strategy that’s gaining in popularity among marketers.
5. Influencer Marketing
Gen Z and millennial audiences look up to social media influencers for inspiration on diverse topics. These people enjoy a large fan following — often in the millions. And the crypto world isn’t exempt from this. The top crypto influencers, such as Plan B, loom, and others, enjoy great command and influence over their followers.
What’s more, their followers trust them and value their opinions. You can use your industry connections to collaborate with these influencers, getting them to talk about your crypto project. This is another digital currency marketing technique that can boost your crypto project’s visibility and brand awareness immensely.
6. Affiliate Marketing
Affiliate marketing is a marketing technique in which you compensate third-party blogs, websites, and content creators to generate leads to your website or impact direct sales. Although the concept is similar to influencer marketing, herein, the creators don’t necessarily need to have millions of followers.
In fact, anyone interested in your product can take part in this campaign. This marketing model is commonly used in the e-commerce industry. However, these days other industries are also experimenting and seeing results with this technique. If done right, you can generate sizable traffic to your crypto product through affiliate marketing.
7. Airdrops & Giveaways
Airdrops and giveaways are increasingly becoming a common marketing technique in the crypto industry. These help new companies to captivate the attention of thousands and capture the market. Even though this avenue can prove to be expensive for small-time ventures, the results and engagement it generates more than makes up for it.
How Can a Cryptocurrency Marketing Agency Help You?
The above-mentioned cryptocurrency strategies can help you can promote your crypto project to a large audience effectively. However, marketing your brand on your own isn’t always a good idea. Many crypto brands these days prefer to partner up with experienced crypto marketing agencies. Hiring such an agency has several significant advantages. Allow us to elaborate.
· Outsource All Requirements
Doing all the leg work yourself means dealing with press requirements, PR, market research, strategizing, etc. You would need a full-fledged marketing team to formulate different strategies and put them to effect. And this requires a great deal of time, energy, and resources.
However, you can save yourself much of this headache by hiring a professional crypto marketing agency. In fact, outsourcing all these services may even help you reap much better results.
· Rely on the Experts
When you work with a professional cryptocurrency marketing agency, you rely on the experts. These marketers have years of experience in the industry and are well-acquainted with all its nuances. Hence, collaborating with a crypto PR firm would mean smoother strategy implementations and better outcomes.
· Cut Down on Marketing Expenses
Cryptocurrency marketing involves using several premium tools. These tools don’t come cheap, especially for small businesses or individuals working independently. But an experienced crypto PR firm would already have access to all the latest marketing tools and techniques. Therefore, hiring a crypto marketing agency relieves you from all these expenses.
And when it comes to crypto PR and marketing, no one does it better than Digital Nod. As the #1 cryptocurrency marketing agency in the ever-expanding crypto space, we can help you build the right noise around your crypto project and catapult it to fame.
Our expert crypto marketing team has been delivering consistent results for many years. We use all the latest and most modern marketing tools and strategies to promote our clients’ cryptocurrency-based projects. And we are ready to go to any extent to take these crypto projects to the moon! You don’t have to take our word for it; just ask one of our thousands of satisfied clients!
One thing is certain: blockchain technologies and cryptocurrencies are here to stay. Moreover, these technologies are going to make up a notable part of our future. And soon, their involvement will be noticeable in many other industries as well.
So, don’t hold back! Now is the perfect time to capitalize on this exploding technology. If you are looking for an agency to provide end-to-end crypto marketing and PR solutions, your search ends here! Contact us today, and get ready to make your project the name on every crypto enthusiast’s lips.