Cryptocurrency is certainly a unique, proprietary industry. While it isn’t quite brand-new anymore, it still isn’t quite considered mainstream knowledge and that dynamic brings with it some unique challenges for marketing.
Chief among these is trust. People’s perceptions of cryptocurrency, which is based on new, albeit increasingly adopted technology, vary wildly. It certainly doesn’t help that many got burned in 2018, which brings us back to our point.
Marketing a cryptocurrency company is an endeavor that is fraught with unique challenges - but that doesn’t mean it can’t be done. In this guide we cover:
● Finding your target audience
● Building Trust
● Written content
● Social Media
Let’s begin with the most important first step of any marketing plan. Before you can begin to craft a strategy, you need to know exactly who it is you are talking to.
Finding Your Target Audience
This is important. How are you going to make decisions like, which advertising and marketing channels to use, what kind of content to post, or what social media channels you use, if you don’t know who you’re talking to? You likely have an idea of who is using your service, but it still pays to dig deeper.
So, who exactly buys crypto?
Millennials are the primary buyers of cryptocurrency, so, we’re marketing to millennials - easy right? Not so fast.
Marketers will typically scoff a little bit if you try and tell them that your target market is ‘Millenials’. That’s because millennials account for a number of different demographics and age groups. It’s an umbrella term, so you’re going to have to be more specific.
If you were to say something along the lines of: “25 - 35-year-old males, high tech understanding, around the globe”, that is still a very broad audience, but it’s one we can work with. Understanding your audience is key to developing the right tone, which you are going to use extensively.
The Power of the Pen: Blogs, Articles, and SEO
As mentioned, one of the biggest challenges of marketing cryptocurrencies is building trust.
So, how do we do that? It’s important to understand that most people don’t trust cryptocurrency companies because they don’t understand what cryptocurrency is, how it’s based on blockchain, or what that is.
People are afraid of things they don’t know. So, one of the best marketing strategies you can adopt is to educate them.
Written content is a powerful marketing tool for a number of reasons. Let’s say you put out a series of articles that are geared towards educating people on blockchain and its many uses. The reader is going to peruse the article, maybe get a little curious and if you can shed some light on how revolutionary the tech is, they might think, “Hey, that’s actually pretty neat.”.
You’ve taken a reader who was unaware of your service, developed a connection with them, and also established your brand as an authority, simply by demonstrating knowledge. You are building awareness - the first step in a potential investor's journey. There are four stages in this journey to craft content to speak to. They are awareness, interest, desire, and action - this is known as a marketing funnel, and is an important concept.
Search engine optimization (SEO) is a set of practices to incorporate into your content and your website. It allows the page to rank higher on search engines like Google, and bring in more traffic. Putting a little bit of time into learning these practices is well worth the effort, or you can hire a specialist.
Position Yourself with Publications
Blog articles aren’t the only way to use the power of the pen (or keyboard) to your advantage as a cryptocurrency company. Publishing ebooks and white papers is another way to cement your company’s name as an authority in your field in the minds of potential customers, users, and investors. Investing in professionally written publications like these and having a pitch deck on hand are great tools for establishing your company’s name.
Crypto on Social and Video Content
There is no denying the power and necessity of social media. While written content is a strong backbone to building awareness and authority, you need to reach people where they are at. Most of your potential customers and investors aren’t just punching in searches relating to crypto - they’re hanging out on social media.
It’s vital to develop a presence on social media channels. Again, knowing where your specific target audience likes to spend time is important. Start with one or two social media channels, and build from there.
It’s becoming increasingly important to produce and post videos as well. These work in much the same way as written content, except that they can be posted directly to social media, and can sometimes be more engaging than written content. Take advantage of paid advertising and data insights and with a little bit of thought and dedication, your cryptocurrency company could be the next household name.