If you have this killer crypto project idea to send future users to the moon excitedly but wonder where to start, then you are in the right place.
Since the crypto market is becoming increasingly adopted by the general population, staying relevant in such an unforeseeable market is a challenge you must overcome, especially if you want to promote a cryptocurrency project in 2023.
Luckily for you, in today's article, we discuss everything you need to know when creating a crypto marketing strategy that brings results and sets you apart from competitors' crypto projects.
The Crypto Marketing Landscape: What Is and Why Do You Need It?
As more and more crypto projects emerge, staying relevant in this ever-changing landscape is essential. Also, keeping track of the crypto marketing trends and best practices could help you promote a cryptocurrency.
It all started when blockchain technology emerged in 2008, which led to the development of the first cryptocurrency, Bitcoin, enabling many other currencies, platforms, and apps to flourish. Thus, it shows the way toward the dynamic sector of Web3.
What does it have to do with crypto marketing? Well, businesses needed a way to survive their incipient years of development, considered the most detrimental for a crypto project.
They learned cryptocurrency marketing by adhering to different marketing practices to stay relevant in the market, bring funding, and convert any tech and crypto enthusiast into a prosperous investor.
How to Promote a Cryptocurrency in 2023?
As relevance is the key, we have probably witnessed many crypto projects dressed in stunning branding designs, but they didn't bring any utility, and some were also scams.
Nonetheless, with many cyber-attacks, thefts, and misleading marketing promotions, regardless of their nature and type, the appearance of crypto regulations came like a breath of fresh air. In the following chapters, we'll discuss more on the subject.
So, approaching the crypto marketing sector with a 360-degree perspective could be the wisest thing to do. Read further and discover a 10-step approach for your cryptocurrency marketing plan.
Moreover, whether you're doing these marketing efforts by yourself or with the help of a crypto marketing agency, it is best to know what and how it's done.
1. Identify USP and Strengths and Feel the Benefits
One of the most critical aspects when promoting a cryptocurrency is identifying the Unique Selling Point and your project's strength to enjoy the benefits afterward.
As every project has its utility based on whether it's good or bad, your crypto project needs a unique selling point, as this is the first stage in which a user could contact your cryptocurrency.
So, at this point, creating an emotional connection with your potential investor is essential by highlighting why your crypto is better than what is already on the market.
2. Crypto Branding and a Killer UX
We have probably seen crypto projects with a unique selling point, the story, but they needed better quality branding design or a website with a smooth UX.
It is said that every $1 invested in UX resulted in a Return on Investment, ROI, of $100 (ROI = 9,900%). This practice has often been seen as investors keep an eye on the ROI of their investments for better results. Thus, investing in a good UX sets you apart and helps your crypto project grow.
Along with memorable branding, your business could flourish even further, offering a seamless experience.
3. Content Marketing, SEO, and Press Releases
Now that you've established the USP and branding, it's time to bring traffic to your website, and what better way than engaging and educative content that speaks to your target audience's needs?
Here, content marketing comes into play, whereby SEO strategies done well could position you above competitors, and PRs will help you attract new crypto enthusiasts and investors.
4. Blockchain-based Marketing Tools
As said, some crypto marketing platforms and tools could help you promote a cryptocurrency in 2023 through pay-per-click campaigns, thus strengthening your position on the market.
Paid ads in crypto are a thought niche, but once you unveil their potential, the gain could be pretty significant. Crypto ads come in many sizes and forms, from simple banners to display campaigns integrating images, video, audio, text, and others. Moreover, an excellent crypto ad network could help you position your brand above the competition by increasing traffic through high-quality ad placements, well-crafted designs, and engaging copy.
5. Social Media Content and Influencer Marketing
Another excellent marketing effort is through social media content and influencer marketing, which could help you reach your target audience through fun and engaging content.
Platforms like Twitter, Telegram, and Discord are popular among crypto enthusiasts and investors and could help your crypto project gain brand awareness.
At this point, it is essential to research crypto regulations for social media platforms, yet we'll touch on this point later.
6. Crypto Airdrops and Giveaways
A fun way to gain advocates for your cryptocurrency is through crypto airdrops and giveaways. In addition to the brand awareness that arises from this approach, complimentary crypto airdrops offer an enjoyable method of acquiring new digital assets within a landscape featuring numerous cryptocurrencies.
Also, by using this crypto marketing approach, you could ask potential users to do small tasks, such as following you on social media platforms, adhering to your Telegram community, and so on.
7. Unleash the Power of Networking
At this stage, engaging and networking with your fellow crypto investors could strengthen your brand trust and help you refine your business plan by making informed decisions.
Also, participating in networking events, conferences, and other activities on online platforms provides opportunities to showcase your business plan and gain visibility within your industry.
Benefit from this exposure, as it can attract potential customers, investors, and partners.
8. Crypto Email Marketing - Best Practices
In 2018, brands achieved an average of $32 in sales or revenue for each $1 invested in email marketing. We know that times have changed, but an inbound email marketing strategy is worth considering educating crypto adopters, driving traffic to your website, and enjoying the benefits.
However, it is best to consider the following best practices:
Define your target audience: Who do you wish to reach your emails and will benefit from them?
Set SMART objectives: Specific, Measurable, Achievable, Relevant, and Time-bound goals: What do you wish to accomplish?
Share engaging and relevant content: By writing straightforward, personalized, and engaging content that directly answers their needs, you position yourself as an expert in the field.
Segment your list: As your list keeps growing, it is best to analyze the KPIs to better segment your audiences - this way, you can send targeted emails to specific groups.
Track your results: The final step is to analyze and draw conclusions on redefining your email marketing efforts for better results. Clickthrough, conversion, and bounce rates are just a few aspects that could positively impact your strategy.
9. Run Crypto Bounty Campaigns
If you wish to test your crypto project and see how users interact, crypto bounties could be the way to go. With a simple mechanism, as seen in crypto airdrops, crypto enthusiasts could perform specific tasks in exchange for a crypto reward.
This marketing tactic helps promote your ICO (Initial Coin Offering) and achieve public recognition from crypto investors and fans.
10. What are Your Tokenomics and Crypto Incentives?
Strategize a tokenomics model that further incentivizes investors to hold and use your cryptocurrency and offer different rewards, staking opportunities, and yielding farms to encourage engagement.
A reasonable and realistic tokenomics approach balances supply, demand, and utility to ensure the token's value and usefulness within the ecosystem.
Be aware of Crypto Marketing Regulatory Conformities
So, you have a well-crafted crypto marketing strategy and have yet to achieve the expected results? Refrain from overselling and underdelivering with your crypto project, as seen in many instances that, in the end, were fraudulent.
Some big tech players, such as Google, Meta, and YouTube that advocated for a ban on the advertisement of crypto projects have been tied to this concept and approach.
Did you know that 78% of ICOs conducted in 2017 were identified as scams? Some crypto projects advertised themselves to the core but failed to keep their word, thus resulting in many financial losses for users and investors and crypto ads crackdowns. While change might evoke discomfort, viewing regulations in the crypto sphere from a broader perspective reveals their positive impact, such as maturing the crypto market.
Furthermore, please check the crypto regulations for the specific country you wish to advertise in and ensure your crypto project is aligned with the rules.
Stay Updated on the Crypto Landscape
It is crucial to acknowledge the inherent volatility of the crypto market, a characteristic that persisted through a sluggish 2022. Nonetheless, several cryptocurrencies, including the notable Bitcoin, have emerged from Q2 of 2023 with positive gains.
Staying current with the crypto landscape is essential for informed decisions. It provides insights into market trends, regulatory changes, technological advancements, and project opportunities.
