Why Your ICO Needs Crypto Influencers
By Crowdcreate Team
Crypto influencers bridge the gap between mainstream investors and innovators in blockchain technology.
Within the online community of cryptocurrency enthusiasts and ICO investors, crypto influencers are highly respected individuals whose output can noticeably affect the value of cryptocurrencies. Just like influencers within any other internet community, crypto influencers use major social media platforms like Twitter, Youtube, and Instagram to create content which predominantly discusses cryptocurrency, and the online subculture built around its usage.
Many aspects of the cryptocurrency investing world are highly complicated. Blockchain technology concepts, ever-changing regulations, the constant influx of online scammers, and highly irregular market trends are all complicated issues that investors need to understand. This is the role of crypto influencers, to break down the complicated technical concepts for relatively non-technical people.
Since the average investor simply doesn’t have time to follow every development in the rapidly changing blockchain industry, crypto influencers break down the complex issues that face crypto investors and members of the blockchain community for quick and easy consumption. Some of the biggest crypto influencers produce daily videos discussing current events and upcoming projects in the crypto space.
The followers of these crypto influencers stay up to date with market developments and crypto news through influencers’ content. Their trade decisions are informed by the coverage of the crypto influencers they follow for news and investment tips. Different influencers have different specialties and interests, but across the board, influencers who have built devoted followings around their opinionated coverage of the blockchain space are thought leaders whose opinions have large-scale market consequences.
Crypto influencers are a necessary alternative to traditional digital advertising.
–Reddit has banned cryptocurrency ads since 2016
-Google banned any cryptocurrency ads due to ‘potential for consumer harm’
-Facebook banned cryptocurrency ads, and any ads ‘that promote financial products and services that are frequently associated with misleading or deceptive promotional practices’
-Twitter banned any ad associated with financial services
These websites alone make up a healthy majority of the marketplace for digital advertising.
Without these platforms for advertisement, cryptocurrency and fintech companies have to start thinking about serious alternatives to standard digital marketing techniques.
IAB reported Google and Facebook took 99% of ad revenue in Q3/Q4 2016
% of US Ad Revenue
Crypto influencers are more effective at engaging consumers than traditional digital marketing practices.
A recent study showed that 92% of consumers trust an influencer more than an advertisement or traditional celebrity endorsement. Influencers are more effective at engaging a targeted audience than ads, and the promotional content they create is organically included in their normal content output, so their audience isn’t frustrated by overwhelming advertisement. Crypto influencers can organically expose a blockchain project to targeted audiences of enthusiastic investors, if a project can impress these niche investment networks, this exposure results in organic community growth and token value.
300 hours of video are uploaded to YouTube every minute in a total of 76 different languages (covering 95% of the Internet population). Youtube is the content creation platform of choice for crypto influencers who want to build large followings. Video content is incredibly engaging, highly informative, and easily accessible through Youtube. Video content is quickly becoming the medium of choice for marketers, and Youtube is the biggest video platform in the world. Since Youtube is so widely used, Youtube content is easily accessible for both loyal crypto enthusiasts and crypto newcomers interested in learning about cryptocurrency.
However, any online social media platform can serve as a platform for crypto influencers, exposure is everything. Twitter, Medium, Instagram, and more niche sites like BitcoinTalk are all home to crypto influencers who use these platforms to release informative or entertaining blockchain content, build followings, and contribute to the general discourse of a community of millions.
Influencers are not a replacement for traditional, blatant advertisement, they provide an avenue for organic brand growth and engagement. Crypto influencers are thought leaders who leverage their knowledge of the blockchain community to tactfully present the potential value of the projects they promote. Influencers present promoted brands in a way that demonstrates the value of that brand while still encouraging investors to do their own research. Brands don’t want blind investors, they want committed community members who are likely to independently promote the project out of legitimate interest. Crypto influencers don’t provide the potential audience of tens of millions that Facebook ads provide, but their loyal followings are significantly easier and more important to engage. Big advertising campaigns bluntly increase brand recognition, while influencer marketing campaigns generate organic interest, build a reputation, and drive community growth.
My crypto marketing company, Crowdcreate, does not use any ads. Crypto influencers are our primary growth hacking tool, and we have been extremely happy with the results. There’s no cut and dry solution for organic growth, no matter how many ads a company buys, marketers can’t guarantee people will be interested in any cryptocurrency project. The best way to expose a brand or project to a community of interested consumers is to have trusted community leaders do the exposing. Consumers really notice when brands take the time to understand their target audience and reach out to promote themselves in a minimally invasive, organic way.
The most cut and dry example of the power of influencers I can demonstrate is the interview between Ian Balina and the CEO of one of our client companies, Lendingblock.
Ian Balina is the #1 ICO influencer, a massively popular Youtuber who is highly regarded in the crypto community. Ian has an extremely positive attitude towards Lendingblock’s future value as a token, but his interview was designed to convince his followers of that value. Steve, Lendingblock’s CEO, was asked a series of tough questions about Lendingblock by Ian and his audience, and he was able to answer these questions in a way that proved the potential value of Lendingblock to Ian’s fans. Ian understood the best way to build the reputation of Lendingblock amongst the crypto community was to transparently assess the value of Lendingblock live, for everyone to see. It’s irrelevant to the audience if this is a promotional interview, they’re engaged in valuable investment research.
The research paid off, Lendingblock’s Telegram saw an influx of almost 1500 new members during the same afternoon the crypto influencer interview was streamed, and our team was there to welcome them into the community. Lendingblock met their token sale hard cap of $10 million in 3 days.
Lendingblock’s Telegram Activity, Week of the Ian Balina Interview
Influencers are the future of marketing.
The general public is done with ads. A recent study by the IAB showed 26% of desktop users deploy ad blockers online, only 16% of Facebook users find ads relevant or interesting, and brand engagement is dropping fast.
Traditional digital advertising is blunt and aggressive. Even with the extremely specific ad targeting available for online marketers, consumers still don’t find advertisements compelling. As people become more frustrated with ads, they will simply engage less, and immediately ignore anything perceived as a blatant advertising.
The solution to the death of ads is influencers. Influencers are individuals who have a notable following within a specific subculture or demographic, and their opinion is highly valued within relevant communities. Influencers are the perfect medium for marketing since they have built a specific, targeted audience, and they understand how to tastefully expose a brand or product to that audience
What’s the difference between this and a normal ad?
sincerelyjules’s followers are aware that she was paid for this post, it’s fairly obvious. The company, Skii, who sponsored the post is tagged in the post several times and their product is portrayed in a very positive light. She also includes the hashtag “#skiipartner” to demonstrate that she is a paid partner of the company.
The transparency pays off, transparent ad targeting boosts engagement by 40% .
Consumers understand the value of advertising, and actively want to be connected to products and brands that are relevant to their interests. But consumers also don’t want that advertising to be forced upon them. When an influencer organically includes promotional content into their normal output, their audience understands it as advertisement, but will still engage as part of their standard media diet. Influencers have taken the time to build an audience, and they understand the best way to present promotional content to that audience. That personalized touch to promotion dramatically boosts sales. Accenture found that 41% of consumers are more likely to make purchases with companies that personalize experiences. That personalized touch makes a dramatic difference.
With influencers, brands can also ensure they are targeting an audience who will be interested in their product, and not just a demographic. People who follow an Instagram account focused on makeup and beauty content are interested in makeup and beauty products, it’s that simple.
So happy to finally complete my #OneBottleAwayFrom journey with @Skii Facial Treatment Essence that I started several weeks ago! I took on the journey to not only prepare for a big shoot in Baja, California but also to help transform my skin so I feel more confident without make-up! Read more on sincerelyjules.com about the differences I saw in my skin like- smoother texture, minimized wrinkles, smaller pores and an overall glow! They don’t call this #MiracleWater for nothing… you guys will love it! #skiipartner #jbeauty ❤ (link in bio!)