Targeting is an age-old practice in marketing that involves breaking down a large market into smaller segments so that the message is conveyed only to those who are more likely to convert. Implementing this strategy can attract more customers and allow more individuals to explore your brand.
Some of the most successful marketing campaigns use targeting as a tool to increase sales. And the crypto industry is not alien to this fact. Despite the massive popularity of cryptocurrencies and blockchain on a global level, the demographics that make up this target audience still have diverse attributes.
What are some common attributes of the crypto audience?
While the industry is still nascent, crypto marketing has come a long way in driving the mass adoption of this emerging technology. A successful campaign is all about having a clear understanding of your target audience. Below are some key factors to take note of.
- Age: Among all generations surveyed, millennials are the ones most likely to invest in cryptos. A 2022 Financial Literacy study by Investopedia reported that over 64% of millennials have some form of cryptocurrency investment. The number is not surprising, as has been the case with any new-age technology.
- Geography: Geographical location is another important factor in segmentation because many countries have not accepted crypto as a legal tender. The highest rate of ownership is mostly from European countries, the American continent, and Australia.
- Tech-geekiness: Tech-savvy people are mostly early adopters of evolving technologies, and this is one of the key attributes within the crypto audience. A majority of crypto investors are tech-geeks who are in it for the technology.
- Blockchain enthusiasts: The central belief that underpins blockchain is decentralization, which means there is no third-party interference in any transaction. A typical crypto user embraces this concept, regardless of where it is applied. This is one of the key reasons people invest in crypto ecosystems.
Overall, targeting is a three-step process that includes:
Segmentation: Finding the right segment is the first and the most important step of target marketing. If you don’t get it right, you may end up wasting your efforts. Unlike traditional businesses, the cryptocurrency ecosystem works differently. You must do thorough research and familiarize yourself with each segment to ensure they match up with your audience.
Targeting: Once you are done segmenting the audience, you need to analyze which segment fits well for your crypto project. For example, if you are into NFTs, you are more likely to attract millennials. In case you are building a DeFi or a DAO platform, you need to attract more tech-savvy people. Picking the right segment goes a long way in reaching potential investors.
Promotion: Now that you have done all the hard work with audience segmentation and targeting, it’s time to let the word out. Marketing plans can be tailored to engage the target audience using social media channels, which have proven effective for new crypto projects. One can leverage platforms like Twitter, Reddit, Discord, and Medium to attract individuals who might be interested in your vision.
Additionally, Cointraffic can help in promoting your project through banner advertising and press releases on premium crypto websites. We are here to boost your campaign by increasing the visibility of your startup on various platforms.