- Posted by Olivia Kingsbury
- On June 3, 2021
Even as cryptocurrencies rise in popularity, they’re still something that most people have difficulty understanding. This presents a major challenge for companies struggling to make their product more visible in a market that grows more saturated by the day. Regardless of the subject matter, this is a frequently occurring problem in the marketing world as a result of globalization and the accessibility of online purchase.
That’s why the cornerstone of any marketing geared towards an innovative or disruptive product is the education of your consumers. Educating consumers is so important, especially in the blockchain industry. You need to step further than simply making people aware of what you’re offering; you need to also help them understand how it makes it different from competitors.
We have combined our top recommendations after viewing the latest crypto boom and the subsequent marketing strategies that followed.
1. Understanding Your Customer
In the world of blockchain and crypto, the community is the heart and soul of any project. It is the community that provides a strong foundation needed for the project’s success.
From a crypto marketing perspective, the individuals who are part of a community help raise funds, create content and educate other people about the project. Members of the community also organize meetups, amplify the project on Twitter, and answer questions in Telegram and Discord. Knowing who reps your brand, and knowing where to tap into them, is the backbone of any strong marketing strategy.
2. Design Unique Branding
One of the ways in which altcoins set themselves apart from their competition is by branding themselves toward a particular subculture or demographic; this is a technique known as selective marketing. Currencies such as Dogecoin might seem a bit more difficult to parse, but they also have a very specific audience, one couched in irony and Internet memes.
This specific branding makes it unique and identifiable – further allowing brand report and recognition down the line.
3. The Facts & Value-added
People purchasing crypto (or interested in purchasing crypto) have a specific need to understand how and why it will change the market. Amidst the hype of earlier years, many projects began exploring use cases that were ill-suited to previous crypto initiatives and blockchain infrastructure. The eventual failure of these projects has only heightened the scrutiny of the audience.
Today, this group prizes projects exploring viable, value-added use cases. In layman’s terms, you need to know the value of your product or coin before you even start pushing it. That means doing the proper research and due diligence to show how your company is moving the needle in your specific industry.
When it comes to crypto, marketers must show their customers that their project solves a real-world problem for which their cryptocurrency is the answer. This is a crucial precursor to getting results from your next campaign and an important takeaway no matter what you are advertising.
At My Social Biz we understand what it takes to set yourself apart from the noise. In the light of the crypto-bubble, there are many critical insights clients can learn to position themselves like never before. If you are looking to bring your crypto to new heights, or take your brand to the next level, send us a message and we can kick off your journey together.