The Beginner’s Guide to Crypto Marketing
Throughout the past decade, the crypto market has seen enormous growth. This has led to the development of a number of blockchain-based businesses around the world. Currently, there are several different business opportunities within the crypto industry; however, as its popularity continues to grow and the market becomes more defined, we will likely see that number increase. As such, it’s important such businesses know how to market themselves effectively.
The basics of digital marketing are quite similar across a range of industries, but some aspects that come with crypto marketing are unique. It can be difficult for these businesses to run effective marketing campaigns if they don’t have a better understanding of the common problems faced in crypto marketing and how they can appeal to their target demographic.
The following guide will teach you everything you need to know to ensure the success of your crypto marketing strategy.
Common Problems When Crypto Marketing
So, what are some of the most common problems businesses face when marketing crypto? They include:
Many People Consider It a Scam
A lot of different crypto start-ups have turned out to be scams. This has resulted in widespread mistrust throughout the industry that crypto-related businesses need to overcome. A good marketing strategy is the best way to do this, as by having an easy-to-use website, positive customer feedback and strong content marketing, you can establish yourself as a voice of authority that people can trust.
People Struggle with Understanding the Technology
Not everyone has taken the time to read the white paper published by Satoshi Nakamoto, which outlines the concept of blockchain and crypto. Instead, many people get their information from sources like social media, which can scratch the surface of blockchain technology and crypto but can’t provide a detailed enough breakdown for individuals to feel comfortable getting involved. Marketing strategies must overcome this issue, explaining what crypto is and how people can benefit from it.
The Market is Volatile
The crypto market is incredibly volatile, meaning the price of cryptocurrency can rise and fall significantly in a way that appears to some as sporadic. There are usually reasons behind the peaks and troughs in the price of crypto, but these aren’t often explained well to prospective customers. As such, marketing strategies need to be able to put people’s minds at ease regarding their concerns about market volatility.
Crypto Marketing Channels and Strategies
It is clear from the above that crypto marketing comes with a range of challenges. So, with those in mind, what are some of the most effective crypto marketing channels and strategies that can help businesses?
Create an Easy-to-Understand and Compelling Whitepaper
It all started with a whitepaper. In 2008, a person (or group of people) acting under the name Satoshi Nakamoto published a white paper that laid out the blockchain system and how it would serve as the foundation of the crypto market. Since then, almost every major cryptocurrency business established worldwide has done the same. A clear whitepaper is one of the most important documents a blockchain project needs, so you should make sure yours is user-friendly and easy to understand. In terms of content, it should include a description of the product, the service you’re providing, as well as details on your business’s ethos and philosophies.
Establish a Presence on Social Media
Though social media is not the most effective platform for providing in-depth breakdowns of how your crypto business works, that doesn’t mean that you shouldn’t still have a presence. If you hope to generate organic traffic and get a lot of people clicking on your site, you need to reach out to as many people as possible, and social media is one of the best places to do that. You need to look at the different channels available and create accounts on those that will benefit your business the most. Some of the best platforms for crypto marketing include:
One of the most common mistakes is when brands start social media marketing; they try to have a strong presence on every social media site. Don’t do this! You need to focus predominantly on the sites where your audience spends most of their time. Not doing so could waste your business’s resources.
Content Marketing is Key
As discussed above, many issues regarding promoting a crypto business stem from a lack of trust and understating. One of the best ways you can clear up misconceptions about crypto is through well-written blog posts; as such, good content marketing is key. Content marketing can assist you in explaining to your target audience what your company does, the benefits of working with your company and why you are trustworthy.
You need to ensure the content you create appeals to your target market, will help you rank on search engines and is genuinely interesting. You don’t just have to write blogs when it comes to content marketing, as there are several different methods available to you. These include video content, infographics and podcasts (which have proven very effective).
The Unique Nature of Crypto Marketing
Whilst crypto marketing uses common elements such as social media and content, its reasons for doing so are unique. When it comes to running digital marketing campaigns, a lot of techniques embraced by businesses are relatively universal across all industries. The issues that crypto businesses have when it comes to appealing to a wider audience revolve around misunderstandings of crypto and blockchain, its volatility and safety. As such, any marketing strategies put in place must take these obstacles into account.
If you would like help with your crypto marketing strategy, then it may be worth enlisting the help of YouYaa. At YouYaa, our team of experts are on hand to better understand your business needs and put a marketing strategy in place to help you grow your reach and increase conversion. If you have any questions or would like more information, do not hesitate to get in touch.