How can cryptocurrency brands and publishers use digital marketing techniques effectively?

In more than a decade, cryptocurrencies have left an indelible mark on the global economy. The multi-billion dollar crypto market, with hundreds of millions of users, has necessitated the development of new products and services that can propel its growth.

As with any new product or service offering, crypto businesses also need marketing to reach their target audience. Offerings include exchanges, wallets, games, decentralized applications, news and content platforms, NFT creators, investment companies, legal advisory services, technology development companies, mining companies, crypto loan providers, crypto crowdfunding platforms, metaverse developers, and more.

The International Telecommunications Union, an agency of the United Nations, estimates that more than 5 billion people worldwide, or almost 66% of the world’s population, will have access to the Internet in 2022. So it is obvious that digital marketing or online is imperative for crypto businesses. to sustain and grow.

However, digital marketing for crypto businesses is much more difficult than traditional products and services, due to the rapidly changing nature of the crypto market and digital marketing.

The current state of the digital marketing ecosystem

New trends dominate the landscape every year, in addition to established digital marketing techniques. Companies that identify these trends early on and incorporate them into their marketing plans enjoy the first-mover advantage.

In 2022, Facebook, YouTube, WhatsApp, Instagram, WeChat and TikTok rule social media with over 1 billion average monthly users each. Video content, merged with influencer marketing, is likely to remain a winner, at least for the next few years. With remarkable improvements in virtual assistants like Siri, Alexa, and Google Assistant, voice optimization for voice search has become as crucial for businesses as good traditional SEO.

And then there’s a whole world of online advertising with native ads, search engine marketing (SEM), display advertising, mobile advertising, social ads, product listing ads, retargeting, affiliate ads, email or newsletter ads, and more.

Image source: Coin.Network

Online advertising is more effective in terms of cost and success rate than traditional advertising, as long as it can focus on the target audience. Measuring results and modifying/optimizing ads based on data is also easier to manage.

Inefficiencies in Current Cryptocurrency Advertising

Currently, most cryptocurrency advertisements are made by people who might be digital marketing experts but probably don’t understand the distinctness of the crypto market. They approach crypto marketing the same way as traditional products and services.

However, crypto advertising is different in several ways. Here’s how –

  1. The crypto sphere is notorious for its scams, especially those related to new coin offerings. Serious projects should therefore try harder to convince the public of their legitimacy and to stand out from their predecessors.
  2. Cryptocurrency and blockchain are complex topics, which limits their audience to a niche. Therefore, to foster the mass adoption of these new technologies, their concepts and guidelines for their use must be presented to the public in an easily consumable and understandable format. This is a crucial point for cryptocurrency businesses to remember, especially when targeting new audiences.
  3. One of the most distinctive features of the crypto market is its rapidly changing nature. Therefore, crypto advertising must respond to these changes in real time to remain relevant and effective.
  4. There is still no emphasis on reputation management in the crypto industry. As a result, it is difficult to get honest, unfalsified reviews of many products and services, making it difficult for new users to make informed decisions in the crypto market.

Redefining Advertising for Cryptocurrency Brands and Publishers

Effective digital marketing for cryptocurrency brands and publishers is not some arcane philosophical question. It just requires an understanding of the cryptocurrency market and its audience.

“We have seen the advertising approach of crypto brands mature tremendously over the past few years. In the beginning (2015-2018), most advertisers took a scattered approach and hoped to attract new users to their websites. However, over the past two years campaign sophistication has increased, combining data-driven user acquisition campaigns with strong brand awareness efforts that help shorten the conversion funnel for advertisers. crypto,” says Duane Kinsey, publisher development manager at BuySellAds and Coin. Network.

Twitter, Reddit, Telegram and Discord are not social media platforms, although they are hotspots for crypto enthusiasts and should therefore be included in a company’s digital marketing strategy.

Additionally, omnichannel marketing is a great approach for businesses that want to accelerate their growth in this space by focusing intensely on brand awareness. However, omnichannel marketing shouldn’t be limited to deploying multiple channels for ads. It should be about taking a holistic marketing approach.

For example, integrating different formats and types of content is good practice. A crypto firm could use Medium for long text content for editorials, guides and narration, short videos from Facebook and Instagram, Twitter for updates and announcements, YouTube for long explainer videos and reviews, and Discord /Telegram to connect one-on-one with their audience. Similarly, crypto brands and publishers can take advantage of ad formats that are best suited to crypto environments in terms of visibility and user experience.

Image source: Coin.Network

For marketing plans to work, crypto businesses need to stop handing the work over to crypto enthusiasts. By the time crypto enthusiasts understand what bitcoin and blockchain are and how the crypto market works, the company will have already exhausted much of its marketing budget without meaningful results.

On the other hand, crypto experts who understand the intricacies of the market will make data-driven decisions and not spend their time and resources shooting arrows in the dark.

Image source: Coin.Network

“We were early in the scene with crypto-focused advertisers, but it wasn’t until the last year that we’ve seen marketers adopt more traditional B2B approaches to attribution and measurement. We know that technical audiences don’t like to be marketed or made to make a decision, but the market is busy and the options are plentiful, now it’s essential to deliver contextual ads that respect user privacy. become the most effective at driving research-based decisions,” added Matthew Kammerer, vice president of sales at BuySellAds.

Coin.Network by BuySellAds is one of the world’s leading crypto advertising marketplaces working with well-known crypto advertisers and publishers including CoinSpot, Bitpanda, Okcoin, WhatToMine, BitInfoCharts, and GoldPrice, among others. In the dispersed (and sometimes suspect) crypto market, Coin.Network has been focused on scaling quality, contextual, and trustworthy advertising, helping crypto brands and content creators be rewarded for their efforts.

That said, crypto businesses need strong reputation management to establish their position as a legitimate business that cares about its customers. Therefore, apart from effectively advertising their products and services, crypto brands should also focus on providing quality customer support, after-sales services, and collecting honest, organic reviews.

Image source: Coin.Network

In a nutshell, crypto marketing is all about taking the pulse of the dynamic market and audience. Crypto brands and publishers who do their homework before starting the groundwork will fare better than those who don’t.

Image by muneebfarman from Pixabay
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