David Ogilvy in his book ‘Ogilvy on Advertising’ says the death or success of an advertisement relies on its appeal. One advert could outperform another by 19.5 times despite both occupying the same space, running in the same publication, and having well-written copy and photographic illustration.
According to the father of advertising, many professionals forget a wrongly appealing advertisement could ruin the sales of a product, let alone fail to convert prospects.
He continues to tell the story of George Hay Brown, a Ford Motors head of marketing research who inserted ads on every copy of the Reader’s Digest. By the end of that year, everyone who was exposed to it bought more Fords than those who saw the advertisement. It is not every time that advertising increases sales, sometimes it could be the other way round.
In cryptocurrency advertisement, Bitmedia.IO believes the most successful campaign depends on a perfect combination of various tools namely branding, credibility, the right channels, influencer collaborations, and content marketing.
Bitmedia, a professional marketing company with the mission of bringing disruption in advertising cryptocurrency products offers various services for blockchain ventures that want to attract and convert more prospects into customers.
Overview of the Cryptocurrency Niche
Cryptocurrencies came around when Satoshi Nakamoto published the Bitcoin whitepaper. In over a decade of existence, the industry has birthed many more cryptocurrencies, projects and new market paradigms.
With this immense growth and a hypercompetitive landscape, attracting users, entrepreneurs, investors, and technocrats into projects requires more than just an understanding of blockchain technology.
In advertising digital assets products to the masses, one requires a tech savvyness to easily explore the niche, and an artistic mind to weave around campaigns that foster credibility, promote cryptocurrency adoption, and fuel community.
Challenges Facing Cryptocurrency Advertising
Launching any project comes with its own set of challenges. For cryptocurrency projects, the most pressing concerns range from high volatility, market manipulation, quickly emerging narratives, compliance challenges, and technology barriers.
In this industry, something as trivial as a tweet can drive significant market fluctuations. There are also culprits of market manipulation who trick customers by practicing activities like wash trading. The quickly evolving industry might make it tough for starters to focus on the fundamentals and stick to their roadmaps.
One challenge is that you cannot ignore the changes and at the same time, it’s not advisable to jump from one thing to another. A project could also have a great product and campaign but onboarding users becomes difficult due to the technological barriers of decentralization such as opening a wallet. Challenges like these can sway even the most solid advertising plan.
Compliance requirements are also becoming a standard since hundreds of dubious projects are launching with the wrong intentions. Such projects have also cast a shadow of doubt among users and law enforcement. Hence adding more responsibility to projects to not only innovate but also remain responsible, credible, and dispel skepticism.
The Role of Digital Advertising in Crypto Project Promotion
With all these challenges, one needs the right plan to promote their cryptocurrency project. The first step once you have the team and the product is building a brand personality. According to Matvii Diadkov, the CEO and founder of blockchain marketing company Bitmedia, correct branding should resonate with the target audience, leave an impact, establish credibility, and remain consistent. Bitmedia offers advertisers a genuine solution for packaging a brand and sustaining its awareness through a combination of promotional strategies, targeted advertising methods, engagement tools, and community building.
The reason why brands in the U.S. alone are spending $12 billion annually on audience data is to avoid casting a wide net when doing marketing. Bitmedia helps crypto ventures narrow their focus and personalize resonating campaigns through several targeting methods. These include using geographical, device, and preference targeting.
Advertisers must also be attentive when branding. A news report by CNBC indicates the cryptocurrency sector loses $1 billion per year to scams. This means users and investors will always be careful even with the slightest red flags. It also means brands must remain extra careful with their branding and ensure each element instills confidence, trust, credibility, and loyalty.
How to Leverage Digital Advertising Channels for Cryptocurrency Projects
A study by ClickZ said that 80% of marketing teams in the advertising industry have found success in a multi-channel strategy. This shows diversifying methods and channels when promoting crypto projects can help projects achieve more conversion. The most effective channels for crypto advertising include:
- Social media campaigns on X, Instagram and Linkedin
- Email Campaigns and Newsletters
- Influencers
- Content Marketing
- SEO
- Community building on Telegram, Discord, and Reddit
Social media marketing has the highest Return on Investments compared to other digital marketing channels. As such, it remains a preferred choice for most crypto growth campaigns. Some of the tips for gaining traction through social media platforms include hosting webinars, announcing offers, providing links to landing pages, sharing exciting business news and implementing paid campaigns.
Searching engine marketing (SEM) involves helping brands rank higher for search engine traffic by optimizing content. This improves how a company’s pages including blog posts, landing pages and offers rank on the search engine results page (SERP). A study by Business 2 Community shows search engines can generate up to 300% in traffic for websites when compared to social media.
The other channel that crypto marketers have come to love is display advertising. A quick and affordable method to attract internet users is through eye-catching graphics using display banners like pop-ads, sticky ads, and rich text banners. Bitmedia is an expert with banner ad types and offers a range of effective methods for optimizing your display ad campaign.
Influencer Marketing For Crypto Projects
Crypto projects have discovered influencers as an effective channel for attracting mainstream attention. However, these projects need to learn the art of picking reliable influencers who align with the project’s mission and values. Therefore, be sure to map out your objectives before you start looking for influencer partnerships. These objectives could be, driving website traffic, promoting a new product, generating leads, or boosting engagement.
The next step is picking the social channels and identifying influencers within your niche who fit your budget. You will also have to monitor the performance of their campaigns using the tips in this Bitmedia article to measure the influencer’s progress.
Content Marketing and SEO for Crypto Projects
Compelling content is the north star of educating, positioning your brand as a thought leader, boosting awareness, increasing conversion, and improving revenue. There are infinite channels for creating content from social media platforms, blogs, video-sharing platforms, podcasts, paid ads, live events, webinars, AMA sessions, and so on.
When creating content, marketers must consider the buyer’s journey and address each of their needs throughout the journey. They should also position the content to be visible across search engines, be it a user on social media, YouTube, Bing, or Google.
The top strategies for crypto content distribution are to first understand your audience, build content that resonates with them, set clear objectives, use targeting methods, create a content calendar, and repurpose (not re-post) the content on multiple platforms.
Mitigating Challenges and Risks in Crypto Project Advertising
Crypto advertising campaigns face several challenges. Some have to do with crypto regulations, addressing doubts, managing reputation, and dealing with ad restrictions.
Navigating crypto regulations when advertising becomes difficult because different jurisdictions have different requirements. For this reason, campaigns must be versatile and solid to withstand the diverse legal frameworks and align with global compliance requirements.
Navigating ad restrictions can be a formidable challenge when launching cryptocurrency campaigns. There is no one – size fits all– approach for avoiding restrictions on crypto ads. However, the good news is that this was a challenge in the past when Google and Facebook implemented outright bans on crypto advertising on their platforms.
Projects must also establish transparency mechanisms for dealing with reputation risks and address concerns to do with scams. Ensuring clear and effective communication can help mitigate any credibility concerns and stay connected with the audience.
The cryptocurrency sector in 2024 is not just about building groundbreaking Web3 products but also innovating creative and compelling narratives, building credibility, and genuine connections with the community. In a hypercompetitive landscape where many narratives, and projects are scrambling for attention, focusing on genuine engagement might be tough but rewarding if done the right way. Don’t be like George Hay Brown of Ford Motors yet you could liaise with Bitmedia to polish your crypto advertising strategy.
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