Word of mouth is a crucial way to conduct a successful marketing campaign. In cryptocurrency, that process often involves utilizing influencers to boost marketing efforts and reach. It is a versatile tool that requires adequate knowledge to bring out its full potential.
What Is Crypto Influencer Marketing?
The concept of crypto influencer marketing is not too different from influencer marketing across other industries. Influencers can create tremendous returns and grow audiences beyond one's wildest imaginations. There is a growing demand for crypto influencer marketing, as they hold the power to connect blockchain technology developers and teams with mainstream investors and enthusiasts. All of this occurs through social media, giving marketing campaigns a global audience at the click of a button.
Through these marketing efforts, the crypto influencers can move cryptocurrency prices and bring more visibility to projects they want to promote. It is a good way of spreading a message through various social media platforms, including YouTube, TikTok, Instagram, Twitter, etc.
Despite solid year-over-year growth, cryptocurrency remains a niche industry that needs more mainstream attention and adoption. Projects can achieve that goal by relying on crypto influencers, although it should not be their only marketing tactic.
How Does It Work & Why Is It Effective?
As cryptocurrency faces more regulatory scrutiny and deals with ongoing market volatility, influencers become a high-value commodity. An influencer makes tough-to-understand concepts more bite-sized for consumers and investors. They pique the curiosity of their followers by discussing concepts that might otherwise be too complex to grasp. Moreover, they can act as a source of news and updates, as keeping up with the ever-changing crypto and blockchain industry is a nearly full-time job.
Moreover, crypto influencer marketing traditionally involves video content, which is much easier to digest. Video content can include current market trends, new and exciting projects, how-to guides, etc. Moreover, the bigger the influencer's following, the more "clout" they have to help projects and coins reach critical mass.
Furthermore, the success of crypto influencer marketing primarily comes due to other advertising models facing some struggles. Reddit no longer allows traditional crypto advertisements, and Google and Twitter have also cracked down on such activities in the past. As social media and Google represent the majority of digital advertising, projects and teams need to look for other solutions. Crypto influencers are the next logical option.
What Types of Collaborations Are There?
Collaborative efforts with crypto influencers come down to figuring out which channels suit your project's needs. For instance, some teams prefer social media advertising, whereas others want exposure through blogs, videos, or even viral content. There are crypto influencer marketing options for all of these collaborative ideas, but no one can do all of them well.
Figuring out which channels to use is part of setting up the initial marketing campaign for your project or coin. It is essential to ensure your vision aligns with the marketing channels you aim to top into. Without knowing where to start or what the goal is, collaborative efforts cannot commence.
How To Choose Influencers And Start Working With Them?
Once you figure out the channels you want to market across, the time has come to find the right influencer. Just because there are many people in the crypto influencer marketing segment doesn't mean everyone can get your brand message across properly. The process to find the correct influencer(s) can be narrowed down to a few key steps:
- Make a pool of influencers who align with your brand vision: find an influencer capable of marketing projects similar to yours and make sure they tap into your target audience. Additionally, analyze their follower count and growth, engagement rate, and their past campaigns.
- Find out if the influencers work with an agency or not: It isn't uncommon for influencers to work through agencies, similar to other content creators. Engage with the influencers on your shortlist through social media or by leveraging dedicated marketing tools. Going through agencies to find the right influencer for your project can also be beneficial and may help reduce the overall time and effort necessary to get things moving along.
- Offer value to the potential customer and present a clear message: This is the key aspect of any successful marketing campaign. Figure out the message you want to get across and whether it brings your potential customers any value. If people see a message but don't perceive it as valuable, they will not interact with it. A weak or missing value-based message can tremendously harm marketing effort and will lower overall trust in your project. Make sure to get that value across to your influencer to ensure they spread your message accurately and succinctly.
- Offer The Deal: Once you find the influencer(s) you like, and are convinced they are a good fit for your brand, make them an offer to become part of your marketing efforts. Keep in mind there are no guaranteed results, although you can always incorporate milestones in your crypto influencer marketing campaign and add incentives to hitting or surpassing certain goals.
- Measure Its Effectiveness: There is no guarantee of success when running a marketing campaign. Using a crypto influencer will not change that unwritten rule. Even if the influencer has a proven track record, your campaign may not achieve similar results for various reasons. It is advised not to put all your money into crypto influencer marketing without analyzing results from time to time and adjusting where necessary. Crypto influencers need to try new things that may not always meet expectations, but it also creates broader flexibility for adjustments.
Crypto influencer marketing has become a significant part of promotional efforts today. The checklist above will always apply whether you deal with influencers directly or leverage an agency.
However, it is recommended never solely to rely on influencers for one's marketing strategy. Traditional advertising, through banner advertising, press releases, and blog posts remains a great way of connecting with your existing audience and reaching potential future community members.
Cointraffic has a proven track record in its marketing approach and will ensure your brand gets the spotlight it deserves and delivers value to the target audience!