The crypto market is evolving each day. The recent market crash has questioned the stability and scalability of many major cryptocurrencies.
Hence, investors have grown increasingly informed of the choices presented to them. Enticing them to make a decision will be more of a challenge than ever before. This is why businesses need a near-perfect marketing pitch, that incorporates all the essential elements.
In that sense, the first step in creating a near-perfect marketing plan is observing the common mistakes and obliterating them.
Here are some of the common crypto marketing mistakes explained in detail:
Misleading Branding
It is essential to keep the marketing pitch simple. A complex narrative of the cryptocurrency or the platform may put your business on the radar of regulations.
Many countries have stringent crypto regulations. Some platforms are even ready to impose a permanent ban on crypto businesses openly advertising their coins as trusted and genuine. The complaints will also create a buzz, leading to negative publicity.
Instead, aim to build trust among the target audience by avoiding any misleading information on any of the marketing campaigns. Make sure to build awareness by being honest with the audience.
Irrelevant Campaigns
A well-known brand running branding activities makes no sense. Similarly, try to develop relevant campaigns that will bring measurable results to your business.
Many crypto businesses spend significantly on unwanted channels providing no value to their growth proposition. Studies show that 89% of crypto audiences get to know about new projects through news media.
Hence, businesses should primarily focus on gaining media attention through advertising blogs online research, and news media. Direct pitching through PR is also a viable way to gain the attention of a majority of the audience.
Vague Figures
Many crypto businesses advertise “Our Coin X has a transaction of 10 min” - without providing any explanation or data to back their claims.
Since cryptocurrency is a new topic for many audiences, this sentence provides no value for them and carries no weight in decision-making. If you want to make the investor make a definite decision, it is imperative to include context with your data.
Crypto marketing services use figures with descriptive captions to improve the effectiveness of their campaign. They will also include visually appealing images and highlight the points in different colors to guide the attention of the viewers.
Market Substance
As cited earlier, crypto investors have grown increasingly aware of the options available to them. They are actively avoiding scammers and trying to invest in projects that provide long-term value.
It is essential to convey the unique factors of your crypto project by sharing various assets with the public. The whitepaper should be the most important marketing asset for any crypto business. It demonstrates the roadmap for your project along with achievable objectives.
Crypto businesses also need a professional-looking website with up-to-date information about the team. Their experience in the blockchain industry proves pivotal in establishing credibility.
Additionally, develop an ecosystem on social media to support the promotion of your cryptocurrency.
Non-segmented Audience
You cannot expect every investor in the blockchain ecosystem to respond to your marketing pitch. A non-targeted marketing campaign will lose its meaning by driving no relevant results.
Therefore, crypto businesses must segment their campaigns by defining a clear target audience group. This will also help them in the development of strategies since they have to focus on messages that resonate with the target group.
More importantly. Businesses have to deal with skeptics. These people carry a negative perception of cryptocurrencies. You must work to change their perception by sharing informative and attention-grabbing messages.
Best Marketing Strategies To Use:
Community Building
The lack of a community will make your marketing campaigns seem obscure. The informed segment of the crypto audience is ready to invest in projects with a strong community presence on all platforms.
A Discord community in particular will help you to redefine the impact of your marketing campaigns. Each member will spread the word by sharing their version of a brand message.
The message reciprocates with the target audience and subsequently converts them into potential investors. Thus, businesses should focus on building and growing their community.
Generate Hype
Hype is going to be the backbone of your crypto project. You should let more people know about your project by properly utilizing social channels.
Twitter, Instagram, Reddit, and Discord are some essential platforms to reach out to all segments of the audience. These platforms even allow you to share important updates to retain the generated hype.
Businesses also have the option to do podcasts by partnering with some big crypto content creators in the industry. They will be able to reach millions of people through these audio episodes without having to create any long-form content.
Influencer Partnership
By pairing with influencers in the market, you increase the reach potential of your marketing messages.
An influencer will create a comprehensive plan with details of captivating images and captions. They share these posts on various social platforms to drive attention from their audience. Many big crypto leaders have been using influencer marketing to scale their businesses.
You should identify the most consistent and reliable influencer for your business and let them develop the campaign plan. In most cases, it is better to work with a crypto marketing agency, as they have the network to let you choose the right influencer.
Final Thoughts
Crypto marketing is a challenging task if you have a new project. The industry is filled with competition ranging from small players to well-established projects. Navigating through them can be an arduous task with the right marketing plan.
This is why it is important to develop a detailed marketing plan that addresses all your objectives. Crypto businesses should focus on working with a crypto marketing service to get the necessary expertise and resources.
A team of experienced marketers can help you reach milestones efficiently and achieve scalable growth with long-term marketing plans. The best agencies guarantee conversational results for their clients.
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