Want to market your cryptocurrency the right way but clueless about where to begin? We have you covered. In this blog, we will walk you through not one or two but 14 effective cryptocurrency marketing strategies. It will help you establish a solid brand presence in a crowded market and build deeper bonds with your target audience.
Whether you are a cryptocurrency start-up or an established crypto brand, you need cryptocurrency marketing to grow your business. Of course, the strategies, goals, and intensity of those marketing campaigns may differ but are needed all the same.
Over the last few years, the cryptocurrency market has witnessed tremendous growth. There are now hundreds of thousands of crypto businesses across the globe. The number of crypto enthusiasts and users, including gen-z and millennials alike, is rising significantly, too. And this interest is only believed to be soaring with each passing day.
That spells extreme competition for crypto ventures. And in order to survive, you have to cut through the noise.
The ideal way to do that?
Craft and implement a good cryptocurrency marketing strategy to stand out as a brand.
But before we take a closer look at that, let’s first understand what cryptocurrencies and ICOs are. Many people tend to use these words interchangeably. However, both represent different concepts.
» What is Cryptocurrency?
In the simplest words, cryptocurrency is nothing but a digital or virtual currency. Unlike traditional currencies, there is no central authority, such as a bank or government, regulating or keeping an eye on crypto coins/ tokens or transactions.
Instead, there is a decentralized system powered by blockchain technology, allowing the digital currencies to exist and operate seamlessly. This system records and verifies crypto transactions using cryptography.
» What is ICO?
ICO stands for Initial Coin Offering. Think of it as the crypto sector’s very own IPO (Initial Public Offering) that helps businesses raise funds to fuel a project.
You want to build a new crypto coin, service, or app, let’s say, but don’t have sufficient money. You can then launch an ICO. Investors interested would become buyers of your ICO and receive the new token you intend to issue. You, on the other hand, would have the necessary funds to start & accomplish your project goal.
Now that we have explored cryptocurrency and ICO in brief, it’s time to decode what crypto marketing refers to.
» What is Cryptocurrency Marketing?
Marketing done with the intent to promote crypto businesses is called cryptocurrency marketing. The goal may be to create and increase brand awareness, acquire more customers, enhance customer satisfaction, build a community, or boost sales and revenues. All it takes is an effective marketing strategy to make all the difference you want.
Similarly, you can endorse your ICO through dedicated ICO marketing strategies to bring in more leads and investors for the sale event. From generating initial interest to following up with prospects, your ICO marketing plan includes it all.
However, ensure that you chalk out a marketing plan distinct to your crypto business and product needs. A crypto product start-up wanting to create a buzz in the market would have entirely different marketing requirements than that of an established crypto business that wants to retain its clientele & market share.
The good news is that there are multiple tried and tested marketing strategies for cryptocurrency businesses. What are those? Let’s discover in detail.
» Top 14 Cryptocurrency Marketing Strategies to Implement in 2022
The best way to attract potential investors or buyers is by making them aware of your business and by clearly outlining what’s in it for them. And whitepapers let you do that with ease. Whether you want to market your new cryptocurrency token or upcoming ICO, you can count on them.
A whitepaper, by definition, is a document that details your cryptocurrency project thoroughly. From financial to technical to commercial, it covers every vital aspect of your crypto venture.
Use it to provide a complete, exciting picture of your project’s inception, its purpose, and market position. Share why it is a profitable investment for your prospects. Highlighting your accomplished team along with its credentials will also add more weightage. Providing the roadmap of your CSR activities makes for a great addition, too.
The more engagingly you tell your story, the more prospects you’d be able to attract.
2. Website Design
As the world around us appears to turn more virtual with each passing day, it is a must to have a professional website for your cryptocurrency project. A website would be your digital identity. The very first interface people would access about your venture. And it has to convince them to invest in your business. Thus, it makes sense to invest in this crypto marketing idea to reap long-term benefits.
Since a website is a combination of text + visual components, make sure to choose an appealing website design. Stress on putting out every possible information about your cryptocurrency token on the website - from the ideation & goals to the team & future roadmap. But don’t forget that all of it has to be easy on the eyes & in readable chunks.
To make the overall website design more effective, work on the following aspects:
Filling your website with too much information minus any planning would only make it look overwhelming. For people to consume all your project details hassle-freely, identify the vital data, group them and showcase them through dedicated web pages. Have a separate “About” page, “Project Details” page and “Roadmap” page, for example. Also, ensure that the menu on your website is neat and the pages easy to navigate.
Informative Blog Publication Marketing
Another important addition to your crypto website marketing strategy is a stand-alone blog. Keep your current audience and prospects equally engaged with well-researched, authentic, and informative blog posts. Content that surrounds your cryptocurrency business yet satiates the curiosity of your target audience.
Your blog would act as your constant, passive marketing channel. Create a consistent blogging calendar to maintain the readers’ interest.
Dominate Search Engines with SEO
Getting a website up and running is not enough. People must know that your website, and crypto business at large, exist. And unless you tell them about it, they won’t visit it.
But what can you do to drive visitors to your website? Resort to the good-old search engine optimization (SEO) techniques.
SEO helps you rank higher on the search results pages of search engines whenever someone looks up keywords related to your business. That increases the likelihood of garnering more visitors and, in turn, more potential buyers.
When done wisely, SEO helps strengthen your distinct brand story.
While textual content does a decent job for your website, having finely scripted videos becomes a great addition. You can add short byte-sized videos to educate your prospects. Or you can opt for those longer, explainer videos to walk them through your crypto offering and how it works. A video brief for your upcoming ICO landing page helps draw required attention, making it interactive.
Pro tip: Link your web pages with videos to blogs to subtly cross-market your offerings. (This practice is referred to as interlinking)
3. Social Media
Social media is no longer a platform that only lets people stay connected. It has evolved into a reliable channel for people to do business. Therefore, it is imperative for organizations, especially crypto & blockchain businesses, to build a solid social media presence. It will help you reach a wider audience & take your business global.
Begin by creating dedicated pages or profiles on Facebook, Twitter, LinkedIn, Quora and Instagram. Share content that makes people aware of your crypto project. Create posts that spark off conversations. And keep your page updated with consistent posts. A social media account with no posts or activity is as good as having no presence at all.
Besides, the #1 thing to keep in mind while you are at it is to make it a two-way street. Make it a point to interact with your audience. Acknowledge and respond to their queries or comments on the posts or via messages. The whole point of social media marketing of your cryptocurrency ICO or tokens is to build and maintain a thriving community.
4. ICO Listing Websites
Unless people know about the upcoming ICOs, they can't invest in any project. And the best way to keep them informed is through ICO listing websites.
An ICO listing website is a platform that puts together an updated list of ICOs of various crypto projects with all the necessary information and procedures. If you are planning an ICO, you have to enlist your offering on such websites. Doing so markets your offerings and helps draw in more potential investors.
While there are multiple leading ICO listing websites, many are fake too. So, make an effort to research the top ones and only list your offerings there.
5. Press Releases
Whether you want to announce your new digital token or promote your existing cryptocurrency product, a PR or Press Release makes for a perfect medium. Although an old marketing practice, a press release is still a popular strategy for start-ups and established businesses alike globally.
So what you should include in your PR?
Every crucial detail about your crypto product. But in a crisp, jargon-free language. People should be able to easily grasp the details you want them to know about your project to ignite their interest.
For people having no idea how to write a press release, there are ready templates available. Modify and tailor those to your distinct brand voice without losing out on the quality. You could also hire expert PR professionals to do the job for you to reach the masses the right way.
6. Affiliate Marketing
With affiliate marketing, you can leverage the networking and marketing skills of affiliates to broaden your audience base. For the unversed, affiliated marketing is a school of marketing that requires you to pay a predetermined commission to a third party (an individual or a company) for promoting your products/services. The commission is given per lead, per sale or every click.
The affiliate marketing strategy lets you acquire more consumers for your crypto project without increasing your in-house marketing budget, teams, or efforts. The entire hassle of creating and executing a marketing campaign, from writing a sales copy to managing ads, falls on the affiliates.
It is one of the cost-effective crypto marketing strategies since you pay only for the results your affiliates bring in. The results can be in the form of more website visitors or investors or both.
7. Bounty Programs
Bounty programs or campaigns are often used before or during the launch of an ICO. In simple words, a bounty program is an incentive you offer to participants for successfully completing diverse, predefined activities surrounding the ICO. Here, the goal is to promote the ICO or the crypto project to acquire more users/investors.
The rewards of bounty programs tend to be in the form of tokens. The participants can cash in those coins once the crypto gets listed on the crypto exchanges.
For more effective results, you can carry out bounty campaigns in phases. Take the development stage, for example. You can provide developers with incentives to find out bugs in your technology. And post the ICO launch, you can offer incentives to people who help you attain seamless global reach, say through the translation of your web pages or marketing efforts. Such practices help make your project more accessible while being easy to understand.
8. Cryptocurrency Communities
One of the effective crypto marketing strategies is to join online communities on various social media platforms. Here’s a lowdown of the whats and hows:
Being one of the most popular platforms for discussions, Reddit enables you to reach out to people across the globe. All you need to do is create an account and join communities, known as subreddits, dedicated to the cryptocurrency sector. People on these subreddits share the latest crypto news, discuss industry trends and promote crypto projects. And since such communities tend to have hundreds of thousands of members, your crypto product receives the exposure it needs.
However, avoid promoting your project as soon as you join the forums. First, participate in the ongoing conversations happening within the subreddit to build trust. And then gradually start spreading the word about your project.
Communicating with your audience one-on-one is the best way to market your digital coin project. And Telegram allows you to do that with ease.
On Telegram, you can create multiple channels to keep your target market updated about your product. Be it news, your upcoming ICO or future goals. In other words, you can keep one channel to answer your users’ queries, one for discussions, and another channel for sharing important updates & announcements. That way, you get to spread awareness about your project while marketing your offerings without hard-selling.
There are many groups on Facebook surrounding the crypto industry. You can join those and be an active member of the community before beginning to promote your project. Also, you can create your own group on the platform and build a thriving community that is interested in your digital token.
Considered a professional networking website, LinkedIn can also be a great tool to create a buzz about your crypto project. You can leverage this platform to share all the technical insights around your product and ignite the interests of a new target audience.
What’s more? Like Facebook, LinkedIn has open and closed groups as well. Join the crypto community there and get to talk with other crypto enthusiasts to expand your network.
Quora can be a powerful tool for the indirect marketing of your crypto project. Since it is primarily a Q&A platform, you can build a strong following by answering queries related to all things crypto here. Be informative, crisp and insightful in your answers. It can help broaden your reach significantly and connect to your fellow crypto investors, enthusiasts and buyers from across the world.
Twitter is one of the best channels to get people talking about your crypto product. It is for conversations, as they say. You can use this social media platform to not only educate people about your crypto project but also build positive sentiment around it. All you need here is a well-placed strategy, along with powerful execution.
Start by creating a dedicated page on Twitter for your crypto business. Be regular in posting updates, news, and information about its progress. Actively communicate with your audience to make them feel a part of the process.
Apart from that, you can also post about exciting news and events happening in the crypto industry at large. Share links that increase the knowledge base of your target audience. Doing all of it consistently allows you to build an engaging community on Twitter over time. And in the long run, it could also help boost the prices of your tokens organically.
While Twitter is a great tool to establish a community and indulge in conversations, Medium can help you acquire a loyal reader base. Think of Medium as the blogging channel of your crypto project. The platform is a widely used channel by both readers and creators for a broad range of topics.
You can write interesting and insightful blogs on Medium. Some examples include - a detailed how-to guide about purchasing your digital currency, the importance & purpose of your crypto project, the latest news and market position, and the story of your cryptocurrency business inception.
The best thing about this crypto marketing strategy is you can use long-form articles and short posts as you require. Besides, you can use your Twitter account to drive traffic to your Medium article. And convert segments of your Medium post into a few tweets to add within the write-up, linking it back to your Twitter page. Such tactics help improve your overall visibility across platforms, expanding your target user base.
11. Digital Advertising Tactics
While sharing regular updates about your cryptocurrency is a good way to continue the conversation, advertising on digital platforms can help grab more eyeballs. Thankfully, there are multiple ways you can run ads digitally; here’s how:
Paid Promotions (Ads) on Social Media
You can run paid ads in the form of display ads, videos, and banners on social media platforms, including Facebook and Twitter. It would help more people discover your crypto product, drive inbound traffic to your project website and boost potential users.
However, you need to identify your target audience demographic right to achieve the desired outcome out of such paid promotions.
Another form of paid ads, display campaigns, allow you to do promotions of your crypto project on other popular websites. Such display ads can be text-based or a mix of visual + text, videos, flash, and audio. Many crypto companies carry out display campaigns at regular intervals to market their product to a fresh audience.
Make a list of relevant websites with high user traffic to gain maximum traction.
There are many influencers on various social media platforms leading the crypto conversations with their insightful content & thoughts. You, as a crypto business, can collaborate with them to promote your product. This type of marketing is known as “Influencer Marketing”. It allows you to tap into the follower base of the influencers with ease and broaden your network.
12. Email Marketing
A form of direct marketing, email marketing has been around for a long time. Through the emails, you can make new announcements about your project, share updates, provide exciting offers and divulge the benefits of your digital coin. A well-crafted email can persuade people to take action, whether it’s visiting your website, joining your social media community or buying your token.
Just make sure that you send out emails only to people who have expressed interest in your project and want to receive your emails. Otherwise, your emails may land straight in their spam folder.
If you have an email list already, an efficient email marketing strategy could fetch great results for your crypto product. If you don’t, start now to build an email list by asking people to subscribe to your newsletters. Incentivizing them may help. It may take time, but the effort is worth it.
13. Reputation Management
With too much competition in the market, there are chances of negative publicity and fake updates about your crypto project. That may instil a negative perception of your brand in the eyes of your target audience, driving the potential investors away.
To avoid such a scenario, it is wise to hire professionals who would actively manage your brand’s reputation online and offline. The practice is referred to as reputation management. It empowers you to build an authentic, positive brand image and public perception consistently while getting rid of the negative PR material.
14. ICO Marketing Agencies
The crypto marketing strategies we explored in this article require consistent time and effort to yield results. Since all of it can be too overwhelming for someone with zero marketing knowledge or background, it’s best to turn to professionals. You can reach out to established crypto marketing agencies or the top cryptocurrency marketing firms to spearhead your marketing goals. That way, you can focus on other critical aspects of your crypto project. And still, get everything a powerful marketing plan can bring in.
» Final Thoughts
The cryptocurrency market continues to gain more traction across the world. The announcements of new tokens and projects pop up in our feed ever so often now. With such high competition, it becomes difficult for a crypto business to establish itself as a brand and stand out. That’s where an efficient marketing strategy can help.
As we explored in this blog, you can employ multiple techniques to market your crypto product authentically. From a good website design to a well-crafted press release to social media presence to email marketing, everything counts.
It’s all about strategizing, implementing, analyzing and re-strategizing your plan along the way. Remember, marketing is not a one-off thing. It’s a continuous process that keeps your existing users engaged while bringing new ones into the funnel.
Which crypto marketing strategies do you follow? How has it fared so far? Tell us in the comments.