Even in 2017, cryptocurrency advertising was quite a challenging task as many marketing platforms considered this class of assets to be too speculative and unsafe.
Yet, in time, advertising cryptocurrency took a more precise form.
However, the 2022 events are likely to bring new restrictions in 2023. As for 2022, Q3 and Q4 were already soft due to decreasing ad spending.
Despite all these, let’s go deeper into the issue and see how crypto projects are promoted and what opportunities they might have.
How are cryptocurrency businesses promoting themselves?
As projects based on blockchain technology continue to grow, more and more projects are emerging in the market. For the project to be successful, you must put it right in front of the relevant audience.
Against this backdrop, we share powerful insights into the key ingredients of a successful crypto marketing plan which many projects and companies use and so you will see how they promote themselves.
Even though the concept of influencer marketing is not exactly a break of new ground, you can see with the naked eye that it has grown in popularity, especially in industries like crypto.
What’s more, if we analyze the entire influencer marketing market globally, we realize that it has almost tripled from 2019 to date. The global influencer marketing industry is estimated to be worth $16.4 billion. We can’t turn down the fact that influencer marketing is lucrative.
In light of this growth, it is clear why many crypto projects have started to count on influencers, and they even become key figures, as they can promote different projects to a specific audience, which is often interested in new opportunities in the industry.
There are many crypto influencers in the market promoting crypto projects, and some important names are Anthony Pompliano, Ben Armstrong, Roger Ver, and Graham Stephan.
You probably are familiar with FTX Exchange, especially after the scandal that has taken place in this period regarding them. In their marketing strategy, they have used influencers extensively to raise awareness. Some names of influencers that FTX has worked with in the past are Tom Brady & Gisele Bündchen.
Was it effective? We only know one thing, before it collapsed, FTX was among the largest crypto exchanges in the world, and it got there in just three years of operation. Faster than many other exchanges in the market.
So, clearly, you should consider adopting influencer marketing.
Over the past few years, more and more crypto projects have started funding different events to reach their target audience.
It started with crypto-specific events, events that were either organized or sponsored by large projects in the industry, but after some time, most crypto companies noticed that these events were not enough.
Where do you think they found another target audience? Of course, at some huge sporting events.
Do you wonder what kind of strategy this is? It’s a very good one. Why? Quite simple. If we look at the pattern of people attending sports events or watching sports events, we find that these are generally folks who also participate in sports betting.
The overlap bounded by this audience and crypto enthusiasts as measured by demographics, attitudes, and behaviors is fairly glaring.
Since we gave the FTX example above, let’s go with them. In 2021, FTX paid for a commercial to run during the National Football League’s Super Bowl championship game.
Also, in order to be present and to promote themselves, some projects sponsor entire sports industries. Binance is the official shirt sponsor of the Italian football team SS Lazio, Crypto.com has become the first-ever global official fight kit partner of UFC, and here we can give dozens more examples.
If the marketing budget allows, promotion through big events is remarkably effective.
Cryptocurrencies are far from mainstream adoption. That’s why social media platforms can be a good start in promoting various crypto projects. These networks would be the least expensive form of PR and long-term awareness for your project. It also helps you build a community, which in turn promotes your project.
For your social media promotion strategy, the recommendation would be to use about five such social platforms, preferably those that are the most relevant social media platforms on which crypto projects are generally promoted.
Ads on social media platforms are very different from traditional outbound advertising and crucial in our digital space.
Big data and machine learning allow you to find, target, and reach your audience quickly. Each platform is designed to facilitate the goals of your business, such as brand awareness, lead generation, website traffic, and more.
However, the dominant ad companies have begun blocking ads promoting cryptocurrencies because of concerns about scammers and other security issues.
Each social media platform has its own permissions related to ad campaigns. You need a certificate for cryptocurrency advertising or a license for crypto exchanges to create campaigns related to crypto on them.
For example, Binance, a licensed crypto exchange, can create ad campaigns on Facebook or Google.
You can use a crypto ad network if you do not fall into these categories
Articles on crypto publications
This way of promotion is also very used and effective.
As vast as the internet is, if there is no content marketing strategy integrated into your project, it is easy for your target audience to lose track of you, considering the enormously long and winding waters of the internet.
However, in addition to the content you create on your own website, you should also reach out to other more well-known and trusted publications in the eyes of your readers to raise awareness of your project.
Why will crypto marketing be more difficult in 2023?
If, until 2022, it was already quite difficult to promote a crypto project since there were already crypto ads crackdowns, from 2023 it will certainly be even more difficult.
It is clear that the fall of Terra Luna, FTX, and the announced insolvency of BlockFi, among many other projects, has affected the credibility of crypto projects.
Also, even an FDC report showed that since the start of 2021, more than 46,000 people have reported losing over $1 billion in crypto to scams, which again affects the market from evolving, in addition to other factors.
Considering all the above factors, a reaction from the legislature is expected.
Therefore, try to stay informed with the latest announcements on regulations and other legislative issues to promote your crypto project without any problems.
You can also turn to some crypto advertising networks that may help you. For example, Coinzilla already has an entire legal department that keeps a close eye on all initiatives and regulations debated to ensure that their Advertising Network is updated with the latest industry news and supports the publishers and advertisers and what they are promoting safely.
Crypto ads network will cushion the crypto marketing transformation
So, given the above, there are specific solutions by which your marketing efforts can be helped and even improved. The crypto ad networks came in and specialized in serving the niche.
As most of the big social media platforms have shadow-banned cryptocurrency ads, these platforms replace these possibilities in one way or another. By using them, you can even use display campaigns, placing ads on different sites in those networks.
You can choose one of the best crypto ad networks to collaborate with, so you can avoid the worry of problems that may arise and affect your marketing strategy regarding your crypto project.
Choose wisely and help your project grow.