Email marketing is one of the most profitable digital marketing strategies that allow businesses to share regular updates with customers on their email lists. A well-designed email marketing campaign focuses on personalization, which not only compels the reader to take action but also gains their trust for future purchases. On average, every dollar spent on this direct marketing channel is worth $42 in returns. That’s how effective it is!
A lot of crypto projects have recently shifted their attention toward this communication medium. The basic strategies are no different from traditional marketing, but getting them right is the most challenging part. In this comprehensive guide, we will walk you through an approach that combines best practices with an innovative strategy.
Establish your audience
While the crypto industry has witnessed a dramatic surge in its user base, the demographics that define this target audience still have diverse attributes. A majority of crypto investors are Gen Z, millennials, who are considered to be the most tech-savvy generation of all time. Some invest in the ecosystem, while others want to have fun trading. The unique selling proposition of your crypto project should target a mix of such investors. You can start building a community on Twitter, Discord, or Telegram, which will make it easier for you to build an email list.
Define your goals
Prior to marketing your project through emails, you should define a clear strategy in alignment with your end goals. Email is a powerful tool to generate leads and keep the community engaged for a long time. Based on the niche of your project, you can craft your messages to initiate an action from the reader. If you want to drive your subscribers to your blog or medium channel, send automated emails every time you post. For airdrops and signups, you should redirect your audience to the exact page through a highlighted button that catches the reader's attention.
Choose an email service provider
Once you are ready with the plan, it’s time to pick an email service provider for a seamless marketing campaign. Below are some of the most noteworthy options you have:
· MailChimp: It is one of the most popular marketing automation platforms used by top businesses across the world. You can choose a plan based on the number of subscribers you have and the optimization tools you need for your campaign. One can also sign up for free and send emails to a maximum of 2000 contacts per day, with a monthly limit of 10000. Be mindful that ICOs are not entertained by MailChimp.
· Active Campaign: Sending the perfect message at the right time gets easier with the automated functionality of Active Campaign. You have an option to choose between Lite, Premium, and Enterprise subscriptions. However, the marketing should not explicitly give financial advice or talk about services related to DeFi and presales.
· Hubspot: This all-in-one marketing tool will suit you best when you move all your campaigns to this platform. Choosing it solely for the purpose of email marketing hardly makes any sense. They do not have any specific policy for crypto accounts but have the right to terminate the subscription in cases of a potential scam.
· Moosend: If you are looking for a cost-effective email service provider, Moosend is your best bet. Affordable pricing coupled with intuitive features makes it a popular choice among crypto startups. Furthermore, they do not have any restrictions on promoting crypto projects.
Build an email list
Unlike social media followers, you cannot buy an inorganic email list and expect it to do wonders for you. Do not waste your time sending emails to every Tom, Jack, and Harry. That’s not going to work!
You need to build everything from scratch and it has to be in a sequential manner. Attracting the right audience requires you to filter your followers on social media, websites, and other communication channels. An email list should be the topmost layer of a cream that adds value to your efforts.
The easiest way to attract subscriptions from crypto enthusiasts is to ask them directly on your website or social media handle. A pop-up on your official website is an eye-catcher, which will surely entice the reader to take action. Put some valuable content that arouses a sense of curiosity, so that the visitor is compelled to subscribe and know more about your project. Similarly, you can take advantage of platforms like Twitter to build a community around your project, and get a space in their mailbox.
Once you have the right audience on your list, make sure to keep them updated with regular announcements, developments, and any information about presales, airdrops, or exchange listings. If you are truly good with the content you provide, it may also result in “Word-of-mouth” marketing.
Create a compelling copy
Now that you have the list ready, it's time to pitch your audience with a persuasive email copy. It should be written and designed in a way that easily fits both desktop and mobile email applications. Refrain from sending generic emails to your subscribers. Add a touch of personalization and call them by their names. Such emails are more likely to convert.
Keep it short and to the point. Use graphics to an extent that it doesn’t look too messy. Be clear about where you want to navigate the reader. Special attention must be given to the subject and the sub-header so that the user is hooked to open your email.
Track the performance of your marketing campaign
When it comes to marketing, no one can hit the bull’s eye at the first attempt. The only way to assess the performance of your emails is to track key metrics such as click rate, delivery rate, and open rate.
You need to ensure that emails are being delivered to almost 100% of your subscribers and that it is organic enough to pass spam filters. The open rate will depend on how good the subject is, and how personalized the email sounds at the first glance. Once you compel the reader to open your email, your next move should be to redirect them to your website. Highlighting your call-to-action button goes a long way in impacting your click rate.
Once your audience funnels through these stages, the most important metric would be to gauge the percentage of conversion. Depending on whether you need new registrations, event participation, or sales, the numbers may vary. Keep your tone of voice consistent when planning content for your email.
What are the cons of email marketing?
There are downsides to every marketing strategy, and emails are no alien to this fact. The biggest challenge faced by most blockchain projects is the choice of words. With the growing cases of scams and illicit practices in the crypto space, email services are quite stringent with their spam filters. Timing is another important factor to ensure your emails are not being ignored. Furthermore, the entire process from choosing a service provider to crafting compelling content requires hard work and upfront investment. It’s really a matter of precision when it comes to fitting the design for different devices, be it a desktop, a smartphone, or a tablet.
Contrary to what many opine, email marketing is still one of the most effective tools to generate new leads and attract potential investors. When used correctly in combination with other marketing tools like paid advertising, it can generate results beyond expectations. Cointraffic can help you with native ads, banner ads, and press releases to propel your crypto project to unimaginable heights.
As a word of advice, be open to trying new things because the trend in the crypto industry keeps changing every year. What works today may not work after a few months. Hence, it is important to keep adjusting your plan according to the scenario.