In recent times, cryptocurrency and blockchain popularity was massively propelled via a series of innovative marketing trends, as seen in one of our posts earlier this year. Components like social networks, influencer advertising, and new forms of media have all contributed to increased Crypto awareness worldwide.
This article will provide readers with an overview of the recent media marketing trends that Crypto-based companies are leveraging to further increase their reach. Furthermore, we’ll include a new media case study on Dogecoin, and outline relevant information on how companies like Cointraffic are leading the creation of innovative ad networks and marketing campaigns, suitable for both Publishers and Advertisers.
Reviewing recent Crypto marketing trends
Given the sheer size of the Crypto and blockchain market, startups may face considerable difficulty in promoting their projects. In fact, many businesses in the industry fail to gain considerable traction, despite their innovative projects. Here are a few marketing trends worth keeping an eye on:
Choosing the right social media channel
From the get-go, Crypto-based platforms focused to market their products on niche platforms like Bitcointalk and Reddit. This strategy is absolutely great when it comes down to creating engagement with tech enthusiasts, but fails to cater to the masses. As such, more and more companies are directing their attention to mainstream platforms as well. Facebook, Twitter, and Instagram are considerably more popular with non-crypto users. However, content strategies should be adapted to the reader. There’s no purpose in getting too technical with your content on Facebook, given that users want a clear understanding of how specific products and services may fulfil their current needs. Twitter, on the other hand, is better suited to create company leadership branding.
Don’t rely solely on marketing a service
Recent trends point towards an increased interest in social philosophy, problem-solving, and broader conversations. Users want to hear commentary on current issues, read about the latest industry news, and educate themselves via insightful analysis of market trends. In fact, education is gaining a lot of traction. Mass-adoption of Crypto and blockchain projects is paralysed by a constant lack of education and fear of the unknown. Companies that focus their efforts on highlighting the advantages of their products in layman terms usually create more traction and increase overall conversions.
Personalisation and increased community engagement
This entails reaching out to customers and having diverse conversations in hopes of creating a fanbase. It is also smart to involve customers with governance and project development. This strategy is especially well-suited for Telegram and Discord channels, where users can have fruitful conversations with project managers. For instance, some casinos and coin projects regularly run Telegram-based contests and tip users via tokens. The tips aren’t large by any means - usually, they’re under a dollar, but they lead to engagement and encourage platform usage.
The dawn of new media - TikTok Dogecoin case study
A recent new media trend has led to an active increase in Dogecoin price and trading volumes.
To put things into perspective, Dogecoin is a fairly-popular cryptocurrency that was started as a joke. It was named after the Shiba Inu dog breed, which was already well-established as an internet meme. In fact, it’s even been named the official ‘memecoin’. Its value has been relatively low, but stable since its creation in 2013. However, in July 2020, day traders started urging TikTok users to speculate on the coin by purchasing it, and thereby increasing the overall trading volume. The purpose of the trend was to create hype and encourage Gen Z TikTok users to pump coin prices.
Posts included messages like ‘Invest in Doge and make me rich’, ‘If dogecoin hits a dollar, we’ll all be loaded with cash’, often in funny and entertaining short video formats. Surprisingly, the trend actually took off. More and more people began posting similar videos on TikTok, thereby leading to a massive increase in the price of Dogecoin. To be exact, between June and July, the coin’s value rose by approximately 100%, from $0.0024 to $0,0048. Trading volumes also saw a whooping increase, from $110 million per day, all the way up to $1.1 billion. This makes perfect sense - after all, cryptocurrency prices are linked to the laws of supply and demand. Increased trading volumes highlight a higher demand, thus influencing prices.
Cryptocurrency trading platforms seized the moment, and launched perpetual swap contracts, saving tools, and leveraged spot trading. Many other exchanges decided to list the cryptocurrency and allow trading. In fact, industry leaders even went out and said that Dogecoin is by no means a joke currency anymore. It has a real community, actual value, and the potential to serve as a lucrative means of payment.
Soon after the TikTok-based boost began wearing off, Dogecoin was once again boosted via a tweet posted by Elon Musk. The Tesla founder published a meme showcasing how the Dogecoin standard would completely take over the financial system, stating that ‘it’s inevitable’. The boost was only brief, however.
It’s inevitable pic.twitter.com/eBKnQm6QyF— Elon Musk (@elonmusk) July 18, 2020
Nowadays, the coin is trading at a slightly higher value when compared to its initial price, before the trends. This showcases that on-going marketing efforts are quintessential when it comes down to maintaining user interest in cryptocurrency and blockchain projects.
The importance of leveraging ad networks and PR firms for Crypto marketing purposes
Unless a Crypto business has a loyal and large user base from the get-go, marketing efforts are important throughout a project’s lifetime. Indeed, sudden internet fame is possible, but viral hype such as the one obtained by Dogecoin is very difficult to attain.
Advertising networks like Cointraffic serve the purpose of supplying cryptocurrency projects with additional traffic streams. With this in mind, Cointraffic provides users with optimal advertising solutions. Customers can purchase ads in multiple formats, like banner ads, and native ads. Additional tools like anti-fraud solutions through its bot filter, efficient audience targeting, and insightful reporting and analytics, all contribute towards facilitating successful marketing campaigns.
Furthermore, the company also caters to Press Release distribution needs. This format has been well-praised by users throughout the world, as it provides readers with relevant information on new Crypto and blockchain-based projects. Last but not least, Cointraffic is actively planning the release of a new advertisement format that will surely lead to increased conversions and overall profitability. More information on the innovative ad format will be published soon.
Based on everything that has been outlined so far, Crypto and blockchain project success entails a smart marketing strategy. As traffic is directable through multiple sources, it only makes sense that project managers rely on multiple channels, including but not limited to new media, advertisement networks, press releases, customer engagement via online chat rooms, and the smart usage of social media platforms.