The crypto space is booming currently with new projects spurring everyday. In order to stand out from the crowd and gain traction, good marketing is essential. Good technology by itself, is not enough for the success of a project and for the token value to go up. Hype, as well as a community needs to be created through a strong marketing strategy. In this Crypto Marketing Guide 101, we will help kickstart your marketing strategy and run through the 5 crucial pillars for your token value to go to the moon!
- Social Media
- Influencer Marketing
- Paid Advertising
- Marketing Analytics
1. Social Media
Social media has become a must-have for all crypto companies, to grow their audience and build a community. In the crypto space, the most crucial platforms are Twitter, Medium, Reddit, Youtube and Instagram. The crypto community on Twitter is especially active with over 352K tweets under the #Bitcoin hashtag.
To grow an audience on social media, it is important to provide value to your audience in an engaging manner. In simplest terms: allow your users to understand your product and the value it provides. The most effective way to do so would be in the form of visual engagement, such as a crypto explainer video or gifs.
Content can also be recycled in different formats for different platforms, such as a Gif for Instagram, a short video for Youtube, a tweet linked to the video on Twitter and a blog post of the video script on Medium.
2. Influencer Marketing
To increase your outreach, influencer marketing should also be another key pillar of your marketing strategy. A study found that the ROI of influencer marketing is $6.50 per dollar spent.
Crypto influencers allow the layman to understand complex crypto concepts and trust in promising new products. 92% of consumers would rather make a purchase based on influencer opinion, than an ad. In the crypto field, influencers are especially important as they generally provide useful information to their followers based on their own research and opinions. Thus, followers trust their recommendations.
On Youtube, there are multiple successful influencers such as CoinBureau et cetera. On Twitter, some key opinion leaders would be Anthony Pompliano, Scott Melker, and Michael Saylor. Elon Musk is one of these key opinion leaders who has a strong impact on Bitcoin’s price. On January 29 2021, he changed his Twitter bio to #bitcoin which resulted in the price of Bitcoin increasing by $600 rise within a few hours.
It is important to also note that when using influencer marketing, you should not be paying people off to promote your product. This will likely upset the community. You want to find influencers in the tech space who will genuinely understand and support your product with their review or analysis.
3. Paid Advertising
Paid advertising can be through search engines, Google Ads and Facebook Ads. One of the most popular forms is Pay-Per-Click advertising.
To ensure the cost-effectiveness of PPC advertising, it is important to firstly have clear goals for the paid campaign in order to allocate the budget, decide on the channel, messaging and call to action. Goals for instance, can be increasing conversions or gaining a wider following and outreach. Having clear defined goals also allows you to track and measure the success of your campaign better.
Secondly, it is important to possess knowledge about your target market and use targeting to attract your ideal audience. It may take awhile to test which types of messages and ads resonate most with your potential users. You can also use retargeting when a customer interacts with your company but does not utilize your product. Retargeting can display personalized messaging based on the products and services they visited.
Lastly, it is crucial to utilize analytics to understand the success and areas of improvement of your campaign. This will be elaborated on in the last section.
SEO is another key pillar of a good social media strategy to ensure web page visibility and allow your project to gain a wider audience. To master SEO optimization, you will first need to familiarise yourself with keyword research, identify key quality terms related to your project as well as regularly update these key terms. Google Keyword Planner is a free and useful tool for keyword research, especially when coupled with an active Google Ad campaign. Use relevant and specific keywords as long-tail keyword searches have a click-through rate 3% to 5% higher than generic searches.
It is also important to map keywords to each page on your site and you can also do on-page SEO by updating content on your pages to include keywords. Focus on ensuring the relevance of the title tags, meta descriptions, body content, and headings to the keyword themes.
The website should also feature quality content updated regularly, such as monthly or weekly. Consistency will go a long way. The best content engages and delivers value to your target audience. Consider alternative forms of content instead of text to attract and engage a wider audience, such as videos. Videos optimize SEO through increasing the amount of time that users spend on the site and are 50 times more likely to get organic ranking than plain text results. Check out this article to find out more about why you NEED video content for your crypto project!
Lastly, you can also use backlinks and build links through blog posts. Top results on Google’s first SERP have 3.8 times more backlinks than the ones below them.
5. Marketing Analytics
In order to track the success of all the 4 steps previously, you would need to use analytics. All great marketing campaigns need to be tracked. This enables the learning process of discovering what works and what doesn’t, in order to improve the marketing strategy. Your best friend in this case is Google Analytics, which is free and easy to start with for a beginner.
To supplement that, you can also use UTMS. Urchin Tracking Modules (UTMs) can be created using URL builders to track links across the internet. You will need to key in the campaign source, campaign medium and campaign name to build the UTM. The campaign term and content are optional. The UTM is added to the link and will allow google analytics to track the user’s actions, for instance if he or she clicks on a banner ad and is directed to the site.
To Sum It Up:
Having a strong marketing strategy would make the difference between a struggling crypto project and a successful one. Regardless of the potential of your technology, if no one knows about it, the project would be a flop. Good technology must be seen and understood. That requires great marketing strategies which can simply be implemented in the 5 above steps. And one element that lies at the heart of all 5 pillars is quality content. Quality content that showcases value to users and explains your product clearly is crucial. What better way to do that than an explainer video?