Cryptocurrency marketing is is crucial for businesses in this industry to grow and prosper. It’s true that a marketing strategy is important no matter what industry you find yourself in. Even so, when it comes to ICO’s and cryptocurrency projects, building an effective marketing strategy is even more crucial.
But why is it more important for this type of industry?
The cryptocurrency markets has expanded dramatically over the past two years and there are now thousands of crypto businesses popping up wherever you look. If you have a crypto startup, then you need some way of gaining traction amidst so many competitors. Building a digital marketing strategy is a good place to start if you want to boost your brand.
Many people make the mistake of assuming that ICOs and cryptocurrency are the same thing. If you want to market your brand the right way, then you need to start by understanding the goal of your marketing. Are you marketing your ICO? Or are you marketing your cryptocurrency brand as a whole?
ICO stands for “Initial coin offering” and represents a fundraiser to progress a project. On the other hand, cryptocurrency refers to a digital currency. Due to the similarities involved, marketing strategies for both concepts are often the very same.
Here are ten marketing strategies for ICO’s and cryptocurrency that actually work:
1. Create a Website
If you want an idea of what a website should look like for an ICO or cryptocurrency project, check out any website for any one of the top fifty coins on CoinMarketCap.
Keep in mind, this is the very first place that most serious investors will start their research. For this reason, without a professional website you have nothing. After all, would you take a technology project seriously if there was no website?
2. ABC – Always Be Collecting Emails
When you’re marketing your brand, you should always be collecting emails. This should happen right from the beginning of an ICO or cryptocurrency project. It takes a great deal of time to build up a subscriber list but, as any professional marketer will tell you, email is still the most effective way to reach a target market.
3. Networking on LinkedIn
Networking is crucial in any industry but for a little known project in an emerging market like blockchain, this is even more important. You need to establish relationships at every opportunity, and LinkedIn is probably the most effective way of doing this.
In fact, with useful tools like Linked Helper, team members in an ICO can automate the process of reaching out to potential sponsors and influencers on Linkedin.
Linkedin users are very responsive to messages and open to cold messages or enquiries from people they do not know. This is an advantage LinkedIn has over other social media platforms. If you’re a newcomer in this market, then you absolutely must make maximum use of LinkedIn’s networking capabilities.
4. Social Media
Needless to say, ICOs and cryptocurrency projects need to be on social media for anyone to know about them. Facebook, Twitter and Instagram are a great place to start. However, beyond simply sharing your projects, it’s just as important to keep these channels up to date.
In other words, if visitors find a social media page without any posts or updates, it sends out all the wrong signals. Likewise, projects need to make sure that every question is answered and every comment is given an adequate response.
By engaging with your target audience, you can create a thriving online community community. Building a loyal community in the cryptocurrency industry is a powerful way to boost your brand and social media is one of the best places to do this.
5. Press Release
It doesn’t matter who does or does not publish your press release, it’s essential to have one. That being said, there are now many cryptocurrency websites and agencies which are constantly on the lookout for new projects to write about every day. What’s more, these publishers usually have a very defined and specific audience, which directly matches the target market for ICO and crytpocurrency projects.
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Writing a press release is very straightforward, but writing a good cryptocurrency press release takes extra effort on your part. Taking the template of a standard press release and modifying it to fit your company might seem like a good idea. Be that as it may, in order for a crypto press release to be effective, you need to know what parts of your news to highlight. Potential clients are looking for very specific information. Give this information to them immediately so that they don’t need to dig for it.
You also need to steer clear of any jargon. The crypto industry is challenging enough for people to understand without you throwing a bunch of industry terms into your press release so that you look convincing. Don’t do that. Breaking your news down into an easily-digestible form will help you stand out from the crowd of crypto startups which are always throwing around obscure industry jargon. If you can explain your news in a way that is easy to understand, then your readers will remember you for a good reason.
Airdrops are still very common and effective in the cryptocurrency industry. If you’re new in the market, then sending free coins or tokens to people’s wallet addresses can help you promote your new currency.
Ultimately, airdrops are hugely popular with investors and a great way to get people interested in the project. Needless to say, the more free tokens you provide, the higher the chance that your community will grow.
7. Facebook and Instagram Ads
As any marketer will tell you, Facebook and Instagram Ads are grossly undervalued. Of course, you can advertise on Google Ads or YouTube but the first is more expensive and the latter slightly less effective.
Paid marketing requires videos and banners to be created, after which these are advertised to your chosen audience. In addition, the filtering feature is probably the best thing about Facebook and Instagram adverts. You can use the filters on these platforms to advertise directly to your target market.
Podcasts are increasingly popular for good reason. For a cryptocurrency project, this is an opportunity to broadcast to a wider audience and educate listeners about the features of the project.
Having said this, audio content is even more effective now than it was before, which makes this one of the most impactful ways of creating awareness about the project. As you may know, podcasts can also be re-purposed as blogs or articles which you can publish on the website for those who may not consume the audio.
If you perform a simple search on Google or YouTube, you should see that many influencers have a substantial number of followers. With this in mind, instead of trying to garner a fan base for your new channel, it can be far more worthwhile to capture the minds of an audience on an existing channel.
At the same time, this is not a process to rush since projects are more likely to be received well if the brand takes time to establish a relationship with an influencer before suggesting an interview. Either way, you will find that partnering with an influencer is a win-win. The influencer gets to talk about something interesting which boosts engagement with their audience. On the other hand, your cryptocurrency project will gain some valuable exposure.
Aside from the above, the people behind ICOs and cryptocurrency projects should make every effort to keep up to date and maintain an active presence in the community. Do everything you can to boost your project – attend conferences, take phone calls, answer questions and make connections. At the end of the day, there is never one magical solution that will drive your project to success; it’s the will to persevere that counts.
Do you need help building a PR strategy for your cryptocurrency brand or your ICO? The team of PR experts at Pressfarm has experience working with brands in your industry to help them stand out from the crowd. From writing winning press releases to designing creative media kits and writing feature stories that will make a memorable impression for your brand, Pressfarm has got all your content creation needs covered. In addition, you can use our media database to connect with journalists in the cryptocurrency industry. Reach out today and let us help you generate the publicity your brand deserves.