While the basics of crypto marketing are not so different from any other industry, it’s important to realize that there are some aspects that are entirely unique. Blockchain startups need to be aware of the common problems facing any new crypto project and learn how to overcome these challenges if they’re to appeal to their target audience.
Crypto projects face three key challenges that are not nearly as relevant in other, more established industries. First and foremost is the fact that a large number of people feel the entire crypto and blockchain space is a waste of time, or worse, a scam. This is not surprising as the crypto industry does indeed have more than its fair share of scams and failed projects, leading to widespread mistrust about what the industry is really trying to achieve.
To overcome misconceptions, it’s necessary to develop a strong reputation as a trustworthy project that’s genuinely trying to overcome problems and make the world a better place. By creating a professional website and delivering a consistent message, it’s possible to overcome the naysayers and build a trusted brand.
Another big problem for any crypto project is that there are a lot of people who simply don’t understand what blockchain technology is and what it’s for. Few people have actually taken the time to read Satoshi Nakamoto’s Bitcoin whitepaper, which describes the basic concept of cryptocurrency and the importance of blockchain. Rather, most people get their information from news sites and social media, which often doesn’t provide a detailed enough breakdown of how the technology works. So it’s essential for your blockchain marketing strategy to explain what your project is trying to do, how its token works, and how people can benefit from using it.
Lastly, we must always remember that crypto is an incredibly volatile market compared to other industries. The price of cryptocurrencies can rise and fall dramatically based on people’s emotions and sentiments, and it seems unpredictable and incredibly risky to many. The dynamics behind crypto volatility aren’t widely understood, so it’s important to help users understand the reasons for these ups and downs, and put their mind at ease.
Key Crypto Marketing Strategies
Given the unique challenges faced by every project in the crypto industry, it’s essential that your marketing campaign must be focused on building user’s trust and showing how your project can make a difference in people’s lives. Luckily, we can still rely on tried and tested marketing strategies to do just that.
Outline Your Project’s Goals In A Compelling Whitepaper
The concept of the whitepaper was first established by Bitcoin creator Satoshi Nakamoto, who wrote a document that laid out the blockchain system and how it underpins the cryptocurrency he designed, making it fully decentralized and immutable. Virtually every cryptocurrency that has followed has done the same. The whitepaper is the key document that explains how every cryptocurrency works. When writing yours, be sure to explain the goal of your project, the problem it’s trying to solve, and how it all works, as clearly as possible so that every user can understand. Admittedly, most people won’t actually read the whitepaper themselves, but you can be sure that someone will, and if something doesn’t fit or make sense, it will be quickly pointed out to the wider community.
Build A Strong Community Through Social Media
Social media success is the key to any crypto marketing campaign. While platforms like Twitter and Telegram might not be suited to providing an in-depth breakdown of how your technology works, they’re essential for building a community of followers. Social media is the best way to generate organic traffic and drive those users to your website, as it’s the best medium for reaching people who’re interested in crypto. Be sure to consider which platforms are most appropriate. Along with Twitter and Telegram, some of the best social media platforms for crypto marketing are Facebook, TikTok, Discord, Instagram, YouTube and Reddit.
Be careful not to make the mistake of trying to build a strong presence through every social media channel. Rather, focus on those platforms where your target audience spends the most time. Once you build up a large following on one platform, it’ll be easier to do the same on others.
Create Lots Of Useful Content
In order to combat the lack of trust and understanding in crypto, it’s going to be necessary to come up with lots of compelling content that addresses any misconceptions around your project. The way to do this is to provide lots of regular news updates that explain what your project is about, and create thoughtful blog posts that explain how you can solve different kinds of problems in the crypto industry or others you’re trying to impact. By putting out lots of content, it will be much easier to explain why people should trust your project.
When creating content, you’ll need to ensure it appeals to your target market, which means making sure it’s genuinely interesting. At the same time, you’ll want to be careful to ensure it ranks well on search engines, so that people will actually be able to find and read it. To this end, be sure to use relevant keywords and promote your content on social media. Also, remember content doesn’t just mean writing – it can also mean videos, infographics, podcasts and even photos that can be shared on Instagram etc.
Crypto Marketing Is Unique
Just as in other industries, a successful blockchain marketing strategy must make use of common elements like social media and content creation. However, it’s key to remember why we’re using them – to overcome widespread misconceptions around blockchain and crypto, its safety and its volatility. Your target audience needs reassurance, and these common techniques can be employed to do exactly that.