One of the more challenging problems that crypto platforms face is spreading the word about their products and services. With so many different ways to market a project, it can be difficult to know which methods are most effective.
On top of this, utilizing the wrong strategy can result in wasted time and resources, so it's important to choose the right marketing mix from the start, especially in such a competitive arena.
The first, and arguably most important step is to find a way to successfully connect with your target audience. If you're communicating with the wrong people, your message is likely to fall on deaf ears.
It's also important to make sure that you explain the value of your project in a way that is easy for people to understand. After all, for those who are not familiar with cryptocurrency or blockchain technology, the concept can be difficult to understand, since it can be relatively esoteric in nature, at least to the uninitiated.
With this in mind, we have compiled a list of five marketing strategies that have been proven to be effective in promoting cryptocurrency projects. Applying these methods will not only help you to reach a wider audience but also ensure that your message is delivered in front of the right eyes.
Let's get into it.
1 - Build a blog and drive organic traffic
No crypto project is complete without a website and a blog.
Not only is this an essential tool for providing information about your project to potential investors and users, but it's also a great way to drive organic traffic to your site.
In order to make sure that your blog is effective, it's important to publish high-quality, SEO-optimized content regularly. This content should be well-researched and relevant to your target audience, as well as informative and engaging.
A good example of this would be Liquid, which publishes a wide range of blog content containing useful insights on the crypto market while explaining some of the most popular topics in an easy-to-understand format.
This blog helps Liquid drive over 91k visitors to its site each month via organic search, with 72% of Liquid's keyword ownership tagged as "informational," as per SEMRush.
One of the core advantages of this marketing strategy is that you are in full control over the content that you publish, so you can ensure that it is always on-brand and aligned with your project's values.
In turn, this gives you a great opportunity to effectively communicate your project's USP, as well as its value proposition.
However, the main drawback with this type of content marketing is that it can be time-consuming and resource-intensive since it requires a consistent commitment to be effective. On top of this, Google doesn't tend to rank new sites and blogs very highly, so it can take a while to see results.
2 - Use a crypto-focused newswire for PR
If you want to both reach a wider audience and promote your project to the right people, it's worth considering using a crypto-focused press release distribution platform, such as Chainwire.
Unlike traditional newswires, these crypto-focused platforms have extensive networks of crypto and blockchain media outlets, specifically.
So they can help to ensure that your press release actually reaches its intended audience, which is essential for generating buzz and interest around your project.
In addition, Chainwire can also provide you with valuable insights into the crypto media landscape, and guide you on how to make your PR content more powerful, relevant, and concise.
This can be extremely helpful if you're not familiar with the space and want to make sure that your message is delivered as effectively as possible.
While there are plenty of PR distribution platforms out there, not all of them are focused on the crypto space. In other words, mainstream wires might not have the same level of experience or understanding of the industry, which could result in your press release getting lost in irrelevant, low-traffic media outlets.
With this in mind, it's advised to stick with a crypto-focused PR wire service if you want to get the most bang for your buck. That way, you can spread your news across crypto news sites like Cointelegraph, CryptoSlate, News.Bitcoin.com, BeInCrypto, and more.
3 - Build and manage a community
Another key marketing strategy for promoting your crypto project is to build and manage a community around it.
This can be done in a number of ways, such as through social media, online forums, Telegram groups, or even offline meetups.
If you want to see just how pivotal a community can be in the success of a crypto platform, just take a look at community-driven projects such as Ripple, Dogecoin, and Verge.
You could argue that some of these projects do not have a particularly groundbreaking product/service, yet they have still been able to generate a huge amount of interest and support from their respective communities which have helped to propel them to success.
4 - Influencer marketing
Amazingly, the influencer marketing industry is expected to reach $16.4 billion by the end of 2022. And while this industry might be relatively new, it's already having a significant impact in the crypto space.
In fact, influencer marketing is often seen as one of the most effective ways to reach a wider audience and promote your crypto project since there is a very active and engaged crypto community on social media.
In general, it's best to work with influencers who already have a large following (especially in the crypto space), and who are likely to be passionate about your project. In turn, these individuals can help spread awareness of your platform through their channels, and can also provide valuable feedback that can help to improve your project.
For example, crypto platform FTX partnered with NBA superstar Stephen Curry last year to help kickstart its "not an expert? campaign".
This marketing effort was launched to help demonstrate how FTX sets out to demystify the crypto space and eliminate the intimidation factor for the first-time user, with FTX positioned as the ideal gateway for new users to enter the space.
However, it's important to note that influencer marketing can be quite costly, so you need to make sure that you have the budget to commit to this strategy before embarking on it.
In addition, it's also worth mentioning that there is a risk of working with "fake" influencers who have bought their followers, or who are not really engaged with their audience.
This can obviously damage your project's reputation, so it's important to do your research and only work with trusted individuals.
5 - In-person conferences
Despite the digital nature of the crypto world, in-person conferences and meetups are still a terrific way to promote your project.
This is because they provide you with a great opportunity to meet potential investors, partners, and customers face-to-face, and to get your project in front of a larger audience.
In addition, these types of events usually generate a lot of media attention, which can help to raise awareness of your project even if people are not able to attend the event itself.
If you're planning on attending a conference or meetup, it's important to make sure that you have a strong presence, and that you are able to effectively communicate your project's value proposition to potential other attendees.
If you want to keep up to date with crypto conferences taking place in your area, Cointelegraph has a great resource that provides details and booking links to all of the biggest events.
You can even grab yourself a promo code from the site that will help you save money when registering for one of the events.
Wrapping up
These are just a few of the marketing strategies that you can use to promote your cryptocurrency project.
Of course, there is no one-size-fits-all solution, and you will need to experiment to see what works best for you.
However, if you can implement even a few of these strategies effectively, you should see a significant increase in exposure for your project.
* This is a contributed article and this content does not necessarily represent the views of techtimes.com
