We all know that cryptocurrencies have made considerable strides in value and popularity over the last few years, resulting in a slew of crypto-related startups springing up all over the place. We also know that a blockchain startup has a slim chance of surviving if it doesn’t get the word out. However, when it comes to crypto marketing, we can’t help but notice that it’s becoming increasingly difficult. There’s a reason for that.
When people think of blockchain, the first thing that comes to mind is the surface level of buying and selling cryptocurrencies; if this is the case, its use cases in the financial world have grown. Companies of all sizes can use “tokens” to create and raise funds for their businesses by buying and selling them to investors. On the other hand, investors can conduct business at any time without incurring any fees.
In a short while, we’ll dive into how to do digital marketing for crypto and blockchain companies. First, let us look at some of the biggest pain points that crypto companies are dealing with at the moment.
1) Being considered not viable
With so many crypto projects out there at the moment, it is hard to know which one is legitimate and which one just exists to strip people of their money. Digital marketing is essential so that people know, firstly, that your crypto company exists and, secondly, that you are experts in your industry. Let’s assume you don’t invest in creating excellent content, videos, reviews, case studies, podcasts, articles on reputable crypto platforms, social media and PR materials. In this case, you will not gain any coverage or have any sales because most people will not believe you are a trustworthy company.
2) Online marketing is expensive
The remarkably dynamic and technically advanced crypto industry makes it difficult for average online marketers to handle crypto marketing at its full potential. This is the reason why the price of hiring an expert marketing team is so high.
3) Good crypto marketing experts are busy
Many professional crypto marketers channel their skills and knowledge into their own cryptocurrency projects. This is why the majority of crypto startups are forced to work with newcomers to the market.
4) Paid advertising limitations
As a result of the high number of crypto scams, companies like Google, Facebook, Twitter, and others have restricted promoting cryptocurrency startups through paid advertising (for example, people can’t use Google Ads or Facebook Ads to promote ICOs).
5) SEO is super effective but super hard
Only 5% of all SEO companies have a deep understanding of how to do SEO for crypto. 80% of SEO companies are too slow to deliver results for whatever crypto project they take on. Additionally, 15% use “black hat” techniques that are too risky and rarely have any long-term effect. Moreover, only 15% of all SEO companies have a profound understanding of how to do SEO for crypto. Despite its complexity, SEO can provide a significant return on investment for crypto companies.
6) Crypto market is too unpredictable
The cryptocurrency marketing industry is a volatile and ever-changing environment. This makes hiring a low-cost amateur marketing team even riskier. Ultimately, “experts” with no experience will drain your marketing budget and keep delaying results for months while still learning what blockchain is and struggling to keep up with the latest crypto trends.
Cryptocurrencies have recently gotten more popular and are becoming more widely used than they were just a few years ago. Many people believe that the crypto market has the potential to completely transform the world’s finance, manufacturing, healthcare, and other vital industries. For this reason, it’s no surprise that the number of crypto startups has exploded recently. We see new cryptocurrencies emerge, miners scouring the globe for Bitcoins, and businesses offering advice on crypto asset management, among other things.
The cryptocurrency market is unlike any other when it comes to digital marketing, which makes it challenging to manage. The primary objectives of creating a website, developing a marketing strategy, getting a company’s message to their prospects, and increasing their ROI are reasonably straightforward. Nevertheless, the crypto market has a number of unique characteristics.
Now that we have seen the obstacles that crypto developers have to endure, let us look at some digital marketing strategies that work for crypto and blockchain companies. With these strategies, you have a better chance of making it in the crypto space.
1) Keep it simple
Don’t get too caught up in the technical details, buzzwords, or industry jargon. Explain things clearly and thoroughly so that everyone understands the logic and concept behind your project. Present your company in words, images, and video. Speak in plain language that even non-technical people outside the crypto industry can comprehend.
Cryptoassets and the entire industry must become more friendly to non-tech users to grow and thrive. Make a special effort to educate your target audience. After looking at your homepage, a layperson should be able to understand what your project is about. Having a tangible concept that people can understand is extremely beneficial to marketing and communication.
2) Solve a problem that already exists
Product-market fit refers to being “in a good market with a product that can meet that market’s needs.” Your product must address a genuine market need. You’ll need to conduct extensive market research and speak with real people to learn about their problems and how your technology can help them solve them.
Rather than presenting a solution and then searching for an appropriate problem, create a solution to a problem that already exists. You need to ask yourself what the purpose of your project is, what the concept is, and what the business model is.
Determine the purpose of your project, the real-world problem that your technology is solving for real people or businesses, and the values that your brand represents. If the best teams and products fail to find a market and create a product that meets the needs of real people, they will fail.
3) Be transparent and open
One of the biggest pain points that crypto companies are experiencing is that many users consider them to be a scam even when they’re offering a genuine and valuable product.
To go against this stereotyping on your website and other platforms, be honest. Talk about yourself and your team openly. Show off your various backgrounds. What qualifies you as the best team to tackle the problem you’re working on? What is your background, and why should the public put their faith in you?
Differentiate and position your startup. Don’t be afraid to discuss your competitors and similar projects. While it may seem counterproductive, this is actually a good way to set yourself apart from the crowd. By positioning and differentiating your product from the competition, you can explain why people should believe in it.
4) Equip your crypto startup with customer-focused resources
You should hire experts who will truly meet the needs of your customers. These include social media marketing specialists, blog writers, designers, storytellers, community managers, customer service representatives, and public relations professionals. These will help with community engagement, communication, content creation, outreach, audience growth, and management.
While you can do your own internal PR, it is also advisable to hire an external PR team because they have the experience to handle every step of a digital PR and marketing strategy from start to finish. PR agencies are not only knowledgeable in the “traditional” forms of PR, but they also have strategies that can help you reach growing online audiences.
Would you prefer to let a PR specialist worry about marketing your crypto project so you can dedicate more time to improving your product? Check out Pressfarm’s packages and let us write a press release that will help your brand shine. In addition to writing professional press releases, Pressfarm’s team of PR specialists, expert writers and certified designers can also develop winning guest posts and eye-catching press kits for your brand.
In addition to arming you with quality content designed to make a journalist’s head turn, Pressfarm can also help you distribute this content widely, hence putting it in front of the right eyes. By submitting your content to the right startup directories and media outlets, Pressfarm can boost your online visibility and ensure your brand ranks in relevant search results across different search engines.
Moreover, Pressfarm’s media database contains over 1 million journalists across different industries, allowing you to keep generating publicity for your brand long after Pressfarm has wrapped your campaign up. With any of Pressfarm’s PR packages, you can put your brand in the spotlight where it belongs.
5) Take massive marketing action
With so many crypto assets and startups out there, you need to talk time to spread the word about your project to new audiences. Otherwise, it will be challenging to grow your crypto company.
In order to do this, you need to:
- Create great content and syndicate that content to big platforms.
- Join discussions in the broader community and help people out.
- Reach out to different publishers and influencers.
- Get yourself on a high-ranking show in the industry to establish yourself as a thought leader.
6) Start building your prospect database early on
Every business needs customers. It doesn’t matter if it’s a B2B or a B2C business. It would help if you focused on increasing product adoption early on.
Be proactive in your approach. Build relationships with your target market and expand your prospect email database by reaching out to them. Email is one of the most powerful tools in your marketing arsenal. Unlike centralized social media platforms, which can change their algorithms or business models at any time, it’s an open platform with a direct line of communication, and you are in total control.
It’s also important to initiate potential partnership proposals with other crypto assets and businesses to see how you can collaborate strategically. Partnership news spreads quickly in the crypto world, and it has the potential to generate synergy for all parties involved.
The sooner you begin, the better prepared you will be for the day your product launches, and you are ready to welcome your first customers.
7) Establish a presence where your target audience is
You should not wait for the audience to come to you; instead, you should go where the audience is. Figure out what social media platforms your audience is active on, then build an active presence in these places. In the crypto space, there are numerous options, ranging from Medium for text-based content and YouTube for video content. Twitter is actually the primary social network in the crypto space, but you should also consider setting up accounts on Telegram, Reddit, Slack, or Discord for community hosting.
Establish your presence in places where people spend their time by creating consistent, professional-looking, regularly updated profiles on various social media platforms. Check to see if your branding, marketing, and social media presence are all in sync and telling the same story about your company and mission.
8) Be an authority in the field
Maintain a personal presence on LinkedIn and other social media platforms. Be a source of information. Respond to the questions. Thanks to the open-source nature of blockchain, crypto founders are actually much better at this than CEOs of Fortune 500 companies, who are rarely available.
9) Be available and actively manage your community.
Some cryptocurrency communities are left on their own. This creates an inconsistent experience for both new and returning community members, and it does not reflect well on you.
Start and join conversations, answer questions and respond to concerns. Genuinely consider feedback and ideas from the audience. Furthermore, you should make sure you’re always available to actively manage your community.
Monitor your community and industry, take active steps to build an engaged audience, and respond to questions and feedback as quickly as possible. You’ll have a much happier and more engaged community as a result.
10) Encourage and welcome user-generated content
In social media, most brands welcome and encourage user-generated content. Brands with the most devoted fan bases are usually doing the best in terms of social media engagement.
Cryptoassets are fortunate in that they have a much larger fan base than most other industries. Everyone has an opinion and wants to be a part of the action. The community has produced a large number of crypto memes. Brands in more established industries have difficulty getting many people to create content about them, whereas cryptocurrencies naturally generate lots of user-generated content. Encourage it, moderate it, participate in it, and republish the best of it to your entire audience.
No matter what, the crypto market is here to stay. As more companies and industries start to adopt it, there is no better time than the present to fully understand its potential and use digital marketing to your advantage when trying to get the word out there about your company or coin. There are more benefits than hindrances to digital marketing. After all, in this day and age where people are spending more on their devices, they won’t know you exist if you are not visible to them.