As a crypto-focused company, your crypto marketing strategy is one of the most important parts of your business. No matter how good an exchange is, how valuable a token is, or how innovative a project is, it is dead on arrival without a market strategy to carry it along. This is on top of the fact that the crypto space is one of the most fast-paced in the world.
This is why, now more than ever, you need to make sure that your marketing strategy is tailored to the 2024 crypto market and its stakeholders. Here are a few things to keep in mind:
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Current Platforms
As we’ve said, the crypto space is always evolving, and this includes the platforms that it turns to. A few years ago, Twitter/X, Reddit, and Telegram were probably the biggest platforms to use if you wanted to market a crypto project. While these are still very relevant, other platforms, such as TikTok and Discord are prominent within the industry. Imagine, for example, trying to run a crypto marketing campaign in 2024 that excluded these platforms.
This is not to say that the campaign would be unsuccessful, but it would lose out on a significant chunk of crypto consumers as a result. This is why it is important to know which digital platforms are being used by the crypto community at whatever time you want to advertise. This also applies to niche segmentation. For example, NFT lovers are known to use Twitter/X a lot compared to a platform like Reddit. If your project is NFT-related, the former would be a better option for you than the latter.
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Current Techniques
If you’re launching a crypto marketing strategy, in 2024, you must know the marketing techniques that are currently succeeding in the industry and those that are out of date. For example, attaching famous faces to NFT and crypto launches was all the rage a few years ago, especially during the ICO boom around 2018. However, after several lawsuits and fraudulent projects, this sort of marketing strategy is looked at with skepticism by some in the industry.
This is why your company needs to do its research on what marketing techniques are trendy right now, and why they are trendy. For example, airdrops are an evergreen crypto marketing strategy that has endured through many years. The same cannot be said for several fundraising methods as ICOs fell out of fashion and were replaced by Pre-sales and IDOs. Different crypto marketing strategies also appeal to different types of consumers so it is best to conduct market research and determine which your specific audience responds to best.
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Current Crypto Marketing Strategy Results
A successful crypto marketing strategy is more than just sales made, followers acquired or any other numerical metric. It is also reflected in how your consumers feel about your company, which is why you need to gauge the public perception of certain crypto marketing efforts before you embark on them.
For example, many Internet users have grown frustrated with giveaways that have a lot of steps involved. While the strategy could lead to conversions, you could also come off as spammy, which hurts your business image in the long run. This is why before you choose any crypto marketing strategy, take a moment to consider what the public perception of it is. Look at the comment section ofcCrypto Marketing posts that will be similar to yours and search the business name online. See how consumers feel about the businesses and marketing strategy as this will likely be how they feel about yours.
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Current Content Types
Take a moment to ask yourself what type of content you intend to put out as part of your crypto marketing efforts. Do you plan to put out traditional press releases, and sponsored posts on top crypto new sites? Do you plan to release sponsored videos with influencers showing how your product works? Will you roll out your product or service at the top crypto conferences? Will it be some combination of all?
Crypto consumers, especially the more niche ones, respond differently to different types of content. Those who buy NFTs, for example, tend to have more emphasis on visual content, compared to those who want to sign up for a new exchange. Not only do you need to determine what type of content is popular among the audience that you were targeting but you also need to determine what content is popular in 2024. The last thing you want is to put out content in a format that your audience no longer engages with. It will make your business seem authentic and will also not be effective.
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Current Industry Developments
One important thing to remember is that your crypto, marketing campaign does not exist in a vacuum. It is inevitably affected by any developments within the crypto industry and thus, you need to be aware of them. For example, the months following the FTX collapse were not a very great time to launch a crypto exchange given the negative publicity they were receiving. During the initial NFT slump, new projects were being cancelled due to the backlash from consumers.
Essentially, you have to keep your ear to the ground and always know when there is a significant development with regard to the crypto industry. This includes regulatory changes that might make your products or service illegal in a specific area, economic developments, that will impact consumption, and so on. By doing this, you can save yourself a lot of time and effort while also making sure that your campaigns are as relevant as possible.
Conclusion
To succeed, your crypto, marketing strategy has to be innovative, authentic, and, of course, modern. You don’t want to find yourself marketing with strategies that are out of date or on platforms your audience no longer uses. As we’ve outlined, consider the above factors to make sure that your crypto marketing strategy does as well as it can.
