Blockchain technology has rapidly evolved over the years and its implementation in the cryptocurrency sector received broad recognition. With the technological advancements that the market makes, the use of blockchain technology becomes more and more important for both B2B and B2C companies.
The blockchain sector is one of the fastest-growing markets, with an anticipated compound annual growth rate (CAGR) of 69.3% by 2025. The market size is expected to grow from $3.0 billion in 2020 to $39.7 billion by 2025. This does not come as a surprise, as numerous corporate giants like IBM, AWS, and Walmart have already started their blockchain journey.
The versatility that the blockchain technology offers makes it suitable for different business structures, formats, and services, encompassing the entire crypto sector, including companies such as crypto exchanges, ICO/IEO/STOs, crypto casinos, betting platforms, blockchain payment providers, blockchain development companies, and many others.
Why crypto marketing is different than traditional marketing?
The increased adoption of blockchain puts new startups into a fierce competition between themselves and with already established companies. The tricky part is that marketing efforts should be in line with:
- The sector for which a certain project aims to deliver their products and services
This is especially important for ICO/IEO/STO projects, as their project category can widely differ, for example, they may provide financial services, sustainable solutions, social platforms, energy & utility, governmental services, etc. At the same time, you need to introduce your project to:
- The crypto and blockchain market
Depending on each project, the blend between the project`s own market and the crypto and blockchain market is different in percentage, and sometimes the focus of the campaigns may solely fall on the crypto and blockchain market. This is why our expert advice is to seek a professional opinion.
Do not forget that you should also be open, honest, and transparent in terms of showcasing your project`s products/services to your targeted audience. False and misleading information can have a long-term negative aspect on your business and yourself, similar to the notorious OneCoin project, which became “one of the biggest scams in history”.
When should I start and which channels should I use for my project?
The goals of the campaign are different and depend on our client`s requirements. It may be an increase in website traffic, creation of brand identity and brand awareness, leads generation, user acquisition, etc. However, there are different stages through which a crypto marketing campaign goes
When we speak about ICO/IEO/STO projects, the first stage comes before starting your public and/or pre-sale phase. This is the stage during which creating a brand, working towards brand awareness, and establishing a community begins. It is very often that this stage is associated with presenting your project on events and conferences, seeking funding, and building relationships with other businesses. It often is the most important stage during which many companies are hoping to raise capital, which will help them roll out their further expansion plans and future campaigns. This is why our advice is to plan your time frame wisely and leave at least 6-8 weeks for marketing and advertising prior to stage one.
This is the actual token sale for ICOs/IEOs/STOs or the time for reaching as many consumers and introducing the product or services that your blockchain company is producing and offering. The difficult part is to select the most appropriate channels, which should be in line with your goals and the core of the business. It is important to notice that the quality of traffic plays a vital role. A combination of user acquisition channels, like display advertising, pay per click, email marketing, and other services like SEO, influencer marketing, content marketing, etc. must be made very carefully. Well-planned campaigns and perfectly combined channels will give you a very good ROI rate. Constant monitoring and optimizations of channel performance will also allow you to cut costs and optimize the results through the campaigns.
The third and final stage is the post-sale stage for ICOs/IEOs/STOs or after finalizing the campaigns. Continuous marketing ensures retaining and improving your market positions. Post-sale campaigns are also used for notifying your customer base about new features and updates. Note that established blockchain and crypto companies have to do an extra push in order to retain their customers. Good examples are trading platforms and exchanges. New features like affiliate programs, margin trading, free crypto wallets, or free credit/debit cards are some of the leverages that exchanges use to retain and further expand their users. Ongoing events like trading competitions and limited time promotions like lower fees, etc. also perform well. All advantages that a platform offers must be very well communicated with your targeted audience. Those steps are important for positioning companies at the top of their niche, as they need to outweigh their rivals and provide a better user experience through technology.
Unfortunately, most of the crypto marketing and advertising activities are done in-house without the required experience, which can potentially damage the projects or result in overspending of funds or deliver no results. The majority of the new projects shut down because of incomplete and ineffective marketing strategies.
Cryptoken Media can offer you free consultation at [email protected], as well as an individually-tailored marketing strategy that is carefully crafted to suit your needs.