Introduction
Cryptocurrency & Blockchain Marketing
If you’re new to the world of cryptocurrency marketing, it can be difficult to figure out where you want to start.
By now, you’ve most likely done tons of research into content marketing strategy, social media hacks, SEO guidelines, search engine tips, and growth hacking. Probably so much so, that you don’t know what comes first.
It is important to get ahead of those anxieties by creating a marketing plan.
This guide will explain how you can create an online marketing plan tailored to your cryptocurrency project focused on growth and sustainability.
We’ll explore creating a cryptocurrency social media marketing plan from the ground up and how to make proactive changes so that you can adapt to your community or any pitfalls you encounter. If you’re trying to establish yourself as a thought leader, or simply generating interest for your cryptocurrency project, let’s hit those milestones!
This walkthrough should help you start churning ideas, and turn those worries into something positive for your business.
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What Problem Do You Solve in Crypto, DeFi, or NFTs?
Most guide’s want you to dive straight into different tactics such as reaching out to influencers and marketing agencies. We will get there in our guide but it is important to understand why we adopt tactics and what their uses are. Cryptocurrency marketing is a particular niche in the world of marketing and products.
Understanding what makes it a niche will allow you to leverage the people and programs that you will eventually use or pay for in the future. This will lead to a better cryptocurrency marketing strategy overall.
So, what’s the difference between cryptocurrency marketing and marketing other products?
Cryptocurrency is a digital service without a physical product and thus it is important to treat it like such.
Currently, we talk about Bitcoin as a store of value, something akin to a physical product. Bitcoin, as well as your blockchain product, is and always will be a service product first and a store of value second.
Okay, why am I pointing this out?
Your team may push you to utilize popular influencers around you to boost your growth. This is a very popular cryptocurrency marketing technique.
So…you may start to reach out to big names. Most companies will celebrate you landing such a big fish and you guys payout for a quick advertisement on their channel. The video initially gets a ton of views and engagement.
But then it starts to slow. Growth starts to fall off dramatically. The influencer has done his job but you are still left without a consistent growth factor.
Why?
The problem with advertising cryptocurrency is that it doesn’t immediately capture attention like tech gadgets. People will watch the video because they care about the personality, not your product.
After all, a project in development takes years to scale. Why would an imaginary product promising returns attract a stable audience? The math simply does not work out.
As a result, you probably went after more influencers, or tried to start a buzz on Twitter. But none of that actually leads to product development or revenue. Therefore that influencer was not valuable to you at all in the development or organic growth of your product.
When utilizing tools or people in the cryptocurrency marketing environment, it is important to know exactly what you’re paying for and why. Too many times we see developing projects sink their marketing budget following what other people have done in the space ie. pay influencers and advertising agencies. That’s why it’s more important than ever to first start out with figuring out what problem you solve in crypto, defi, or NFTs. This way, your user will stick around longer because you’re solving a real problem that they need a solution to. Simply, it’s not a quick pump and dump.
Become an Influencer for your Target Audience
Establish yourself as a thought leader
If you want to learn how to utilize influencers, become one yourself.
- When you can, it is important to try the work for yourself from start to finish. This will not only increase the visibility of your project but give you an understanding of what you’re paying marketing agencies and influencers for.
- Using the leverage of being an influencer yourself can always help you negotiate the price of services as well as counter any unnecessary expense the other party brings up. Plus, it gives the future partnerships you make material to use or change in order to further your current goals.
- The best part of this tactic is that it is absolutely free. Making a short video on your webcam or posting updates on the product can go a long way while costing absolutely nothing.
- Another bonus is that creating your own active social media channels makes you incredibly flexible in your cryptocurrency marketing plans. You can always change your content in order to match your growing audience, once again for free.
You also get to control the flow of work on your own. Adding influencers to your project when needed is much easier than firing them when they prove to be ineffective.
This way you can make changes while maintaining the integrity of your company’s growth. This cryptocurrency marketing technique will help you to reach your target audience and gain more potential customers while maintaining control of your workflow and balance.
Okay, so now that we’ve cleared that up, let’s move on to the next section – understanding your target audience and potential customer.
Request Review Videos for your Project
Ask the top influencers in your niche to review your platform. It’s best to highlight the pros and also the cons. Shilling projects is not how you establish yourself as a credible thought leader and authority. This is one of the reasons why YouTuber CoinBureau rose to popularity.
Grow Collabs with Strategic Partnerships
Whether you’re looking for developers, technical integrations, distribution platforms, or just marketing, strategic partnerships can help your crypto & blockchain company grow. You’ll also notice that some of the best performing coins and tokens since 2017 have strategically planned their marketing efforts to regularly share partnerships with some of the biggest movers and shakers in the industry.
In 2017, Tron was rumored to partner with Alibaba, and in 2021, Tron partners with Lindsay Lohan. Be sure to regularly post these partnerships to Twitter and also formal Press Releases for distribution.
Get Interviewed by Large Podcasters and YouTubers
Weekly AMA’s and interviews by large podcasters and Youtubers will help you get much needed exposure. The difference with getting interviewed as opposed to requesting a review video is that you can engage with these influencer’s communities in a more organic way that is in line with their vision. If you need help connecting to crypto influencers, contact the Crowdcreate team.
Write Guest Posts
Yes, they can still be valuable. Contribute to other media channels like Forbes, CoinDesk, CoinSutra, CoinTelegraph, CryptoCoin News, etc. It’s additional exposure that will also help you with a backlink if needed.
Post Updates on Major Crypto Publishing Platforms
- The main platforms you will focus on are YouTube, Medium, Reddit, press releases, and getting featured on lists.
- It is only natural that understanding which platform you’re using is essential to any cryptocurrency marketing plan.
- With so many new projects starting to ICO, it is important to understand the platforms you want to advertise on. It helps eliminate wasting your budget while maximizing your cryptocurrency marketing plan.
- It makes sense the other way as well. In order to maximize your cryptocurrency marketing plan, you need to understand the platforms you want to advertise on.
- If you understand the platforms you use, you’ll be able to evolve your strategy as you navigate the obstacles your cryptocurrency marketing plan might run into.
- The best way to understand your chosen platform is to participate in the platform yourself. Creating an account and participating in your own marketplace of ideas can help develop budgeting tactics while getting to understand what makes your product special to your community.
Aside from making it easier to reach your target audience, knowing who your ideal customer is will help, because your marketing strategy will also resonate better with them.
With social media sites like Reddit, you can customize your cryptocurrency marketing strategy while you get to learn your core community. That way you can align your message from the past with the marketing ventures of your future. This can only work when you study the platforms your cryptocurrency marketing will focus on. When you know who you are writing to, it becomes easier to create content that will be valuable to them.
If you are looking to practice customer retention or create better user experience, it is important to take part in and study the communities on your chosen social media platforms.
Build a Crypto Community on Telegram & Discord
- Attend Global Crypto Conferences and Local Meetups
- Engage and Educate
Post to Reddit, Medium, & Telegram Regularly
When you are initiating your cryptocurrency marketing plans, it is important to master one platform at a time so you don’t spread yourself too thin. You might be asking, “Well, what about efficiency?”
And we would respond with: “Is it efficient to use platforms you don’t need?”
If you look at your cryptocurrency marketing plan, I’m sure growth is the biggest word on your page. It is important to nurture your community in the current growth cycle it is in. Having only a few people in a gigantic yacht, makes things awkward and lonely.
We’re not saying that you should ignore all other social media platforms. We recommend waiting for the appropriate time to start those channels. For example, when if you’re creating blog content on your platform and it’s not getting any hits on Reddit, it might be extra work to start making YouTube videos.
This is effective because it cuts down costs in manpower and marketing reach, and gives you time to truly master your community.
Let’s say you’re creating a blockchain NFT game like Cryptokitties. This would be an appropriate timeline for mastering social media channels.
Master content marketing by writing on Medium. Once you get 1000 people following your blog, start a Twitter page.
On Twitter, create interactive experiences for your community members by showcasing your product, going to Twitter based community events, and collaborating with your peers. Your goal is to hit 5,000 organic followers on Twitter with a budget of 1000 dollars.
Start a subreddit. Start Reddit marketing by doing CEO AMA’s, answering product questions from the community, Reddit focused giveaways, and create insider memes. Focus on getting 10,000 people in your subreddit with a budget of 1500 dollars.
Once you hit your target follow number, start a YouTube channel where you can feature prominent members of the community.
Note, that the start of your next social media venture shouldn’t end your previous one. All of the growth should stack on one another and compound. Your Medium followers should follow you to Twitter. It is your job to advertise your product and thought leadership in order to create those incentives or events.
Another tip would be to use services like paid advertising on the platforms you are participating in. Getting your product out to targeted audiences helps maintain growth and foster activity within your communities.
Study Your Competitors and Collaborate
- It is necessary to study your environment in order to figure out which cryptocurrency marketing strategies are already working.
- This doesn’t mean utilizing the same companies or taking trade secrets from your competitors. It simply means learning and adapting from the successful people before us.
Let’s take a look at some of our previous clients and what they did that was successful. When Lendingblock first came to us in 2018, they had no idea how to start their community and how to leverage their position as one of the first Ethereum based lending platforms.
They listened to us and started off organic and small on Telegram. When their Telegram grew to an appropriate size, they started their next venture into YouTube. On YouTube, their CEO created engaging content and hosted bi-weekly fireside chats on the status of their product. All of this lead to strong organic growth during development of their product. This is just one example of studying what makes your competitor’s cryptocurrency marketing plan successful.
If you’re specializing in YouTube, watch all of the videos from your competitor. If there are any outstanding videos, try and figure out what made that piece of particular content so successful. It may even help to subscribe or follow your competitors in order to see how they engage with their community.
If you are tackling Twitter, try and follow your competitors on Twitter. Focus on the type of messaging, imagery, and re-tweets that they do. It is important to note what parts of their product they highlight and what gets the most engagement from their audience.
I have demonstrated how to study your competitors and what you should be looking for. Now how do you actually make money from your cryptocurrency marketing plan?
Crypto Marketing Case Studies to Follow
Celsius Network
- Build a strong community through interviews, referrals, and weekly AMA’s
Casper Labs
- Build a good product and team. Focus on development first.
- Build an organic crypto community through Telegram and influencer features. Asia’s fastest token sale.
- Reach out to crypto VC investors and crypto influencers as a strategy to raise a successful token sale
Build a Community and Treasury to Re-Invest
Now, what good does all this information do you if you can’t make money off of it? The reason why your cryptocurrency marketing plan has growth and retention on it is that you need those people to participate in or purchase your product.
The way to do that is to compound all of the materials above into a conversion funnel. Understanding your environment and mastering platforms is important because it gets your name out there.
Creating content and studying your competitors makes you a participant in your community. That builds up trust and rapport. This trust is very important in the next step.
Trust leads to agreements when you do the last step on this conversion funnel, which is to make an offer. Whether you are selling a cryptocurrency video game, or a website to sell NFTs, your cryptocurrency marketing plan should end with making your audience an offer.
The starting point might be different, but the end should always be an offer of your product. A line of compounding may look like this:
You might use Twitter to spread awareness, which gets someone to participate in a giveaway event,
This requires email sign-up. They sign up for your emailing list,
which leads them to your products Telegram page. Where you can give them information and offer your product/ICO.
Once you generate enough income from one source, you can then move on to master the next, just like social media platforms.
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Summary
Every cryptocurrency marketing plan needs a strong foundation that compounds itself into revenue.
It is very important to understand your environment, and master the platforms you want to advertise on. This gives you control over the community itself as well as the pacing of your growth.
Learning from your peers can also help you generate new ideas on how to maintain or grow your product community. It can help rejuvenate a dead cryptocurrency marketing plan. Remember that ultimately your cryptocurrency marketing plan should end in an offer that builds even more trust in your community.
Let us know how we can help here at Crowdcreate, we are the #1 ranked best crypto & blockchain marketing agency.
