Marketing a cryptocurrency project is crucial to enable broader adoption and awareness. If no one knows the project exists, there will be no users to collect feedback from for future improvements. The marketing strategy associated with showcasing a new or existing project makes a tremendous difference in how people perceive a brand.
Why Project Promotion Matters
Cryptocurrency and blockchain technology enables developers to build compelling products, services, and protocols. However, if no one knows these things exist, they can never fulfil their full potential. Therefore, marketing a crypto project requires a specific approach, as no two projects are the same. Moreover, audiences have ever-changing desires, demands, and expectations, requiring a professional marketing team to check all the right boxes.
However, there are a few steps every project can take to maximize its chances of success. We have outlined them below, as every step along the way will provide valuable insights and allow teams to make tweaks accordingly.
Determine Your Target Audience
One of the biggest pitfalls to avoid is thinking your project will be useful to everyone. Most people have no immediate need for anything related to cryptocurrency or blockchain, mainly because they are not aware of the benefits. Make sure you can identify your target audience before launching a project. If you aren't reaching the right audience, your marketing efforts need to be redirected.
Figuring out the target user can be a rather complex process. We highlight some tips and guidelines on doing so in a dedicated blog post. Keep in mind the cryptocurrency community is always changing and evolving, and your marketing approach must do the same. Moreover, the geographic reach of your marketing campaign may affect overall perception and user engagement. Make sure your project is either designed for specific regions or a global audience and base your crypto project marketing strategy on that aspect.
Work On Brand Awareness
Improving brand awareness is a broad concept in marketing yet an essential step toward building a successful crypto project. Brand awareness depicts how memorable you are, online or in the real world. For example, Coca-Cola has tremendous brand awareness, whereas your local supermarket's budget cola may be relatively unknown. The same goes for crypto projects, as a competitor may be a globally-recognized brand while your project has yet to get its name out there.
Working on brand awareness requires a solid strategy. Digital marketing efforts can pave the way for becoming more recognizable, both to your target audience and beyond. Popular methods to explore include guest blogging, influencer marketing, infographics, SEO improvement through proper keywords, referral programs, podcasting, YouTube content, etc. Some of these options may prove more beneficial to your crypto project than others, but they are all worth exploring to improve brand awareness.
Exploring Various Audience Interactions
There is nothing worse than a static brand that offers no interaction with its audience. Thankfully, the internet has made it easier to explore various ways of interaction between a crypto project and its target audience. The methods outlined in the paragraph above are an excellent place to start, as they all trigger a call to action in their own way.
However, that interaction also applies to marketing efforts through banner advertisements, press releases, native advertising, which Cointraffic particularly specializes in.
Other effective tools are influencer marketing, email marketing, social media engagement (TikTok, YouTube, Instagram, Twitter, Reddit).
All these approaches enable your crypto project to establish a strong online presence, increasing its brand awareness and bringing you one step closer to the target audience.
Work With Sales Funnels
One of the most under appreciated tactics in digital marketing is the concept of sales funnels. Crypto projects may think this approach does not apply to them, although the reality is very different. Sales funnels can consist of various marketing channels and verticals designed to bring more traffic to your crypto project and turn visitors into prospects. Reaching those users requires figuring out the target audience, using the correct media channels, and strong brand awareness.
Sales funnels consist of four crucial stages:
- Awareness: ads or other marketing tactics to grasp people's initial attention
- Interest: Offering something of value to the person seeing your advertisement
- Decision: Informative and engaging content prepares the audience to try your product or service
- Action: Make the lead an offer they cannot refuse, then step up marketing efforts to ensure user retention.
Every stage requires a different approach from you and the marketing team. It is essential to send the right message at the right time. However, it all begins with catching people's attention, tying back to the overall need for increasing brand awareness and adjusting one's marketing tactic to reach that goal.
Analyze The Effectiveness
With all of the above in mind, it is time to put together a marketing campaign for your crypto project. However, you cannot run these campaigns on autopilot, as they will lose their effectiveness over time. Ensure your team analyzes the strategy's effectiveness regularly to adjust the strategy and ensure optimal results. Do not hesitate to make changes when necessary, and be proactive when new ideas or opportunities arise.
Conclusion
Promoting a crypto project is a step-by-step process requiring a hands-on approach by both the project's team and the marketing agency of choice. Cointraffic has a strong track record in helping projects and brands get their message across and establish a growing target audience.
Moreover, Cointraffic's multi-pronged approach to marketing ensures your crypto project will gain brand awareness, leverages the potential of sales funnels, boosts interaction, and regularly analyzes the effectiveness of marketing campaigns.