How Can You Effectively Target Cryptocurrency Users in Your Ads?
People are changing, brands are changing. Two decades ago, there was no such thing as social media marketing. There were no influencers as we know them today. Ten years ago, there was no such thing as a crypto brand, and no crypto influencers, it was a world without the NFTs, staking, or minting.
And now, we have a new, emerging audience type that is tech-savvy, values privacy, and is interested in the future of finance while demanding more control over their assets and personal data. To interact with these audiences, you need new tools, a new communication language, and above all, a new marketing approach. We have some tips for you to attract the attention of cryptocurrency users through strategic advertising and marketing. Let’s explore together!
Understand the Crypto Community
The first step in strategic marketing activities targeting cryptocurrency users is understanding who they are. “Community” in this context is an inclusive term best described as a vibrant and dynamic meeting point that brings together investors, tech enthusiasts, blockchain developers, and everyday crypto users (holders, traders, etc.). These people stick together with a strong sense of community. Still, they also spread across various platforms, from social media to forums, seeking information, sharing insights, and discussing the latest trends in the crypto market. Advertisers can craft messages that deeply resonate with various audiences by pinpointing key demographics and understanding their characteristics.
Bitcoin fanatics often gather in subreddits such as r/Bitcoin, sticking together around the idea of “holding” and congratulating a new “whole coiner”. On the other hand, we often find Ethereum users in forums where the talk revolves around smart contracts, decentralized applications, and the broader Ethereum ecosystem. Altcoin communities are a whole other world with unique expectations, ranging from token utilities to merchandise, community gatherings, and many other topics. Then there are the DeFi users, congregating on Twitter and Discord, fearless in diving deep into the nuances of decentralized finance, exploring issues like yield farming, liquidity mining, and new project launches. Each community views the cryptosphere from its unique perspective. You can’t just put them into the same bag.
Social Media Engagement
Reddit, Twitter, and Telegram are rich hotbeds of crypto conversation. To engage with these communities, you must go beyond passive advertising and sincerely engage, share valuable insights, and create content that resonates with the community’s interests and needs. Integrate strategic community management into your broader marketing strategy to leverage social media to enhance brand awareness, engage meaningfully with your audience, and drive traffic to your website.
Dedicated crypto marketing platforms like Bitmedia allow advertisers to place ads in these communities to ensure their messages reach the right people. Bitmedia has been in crypto advertising for nearly a decade, working closely with over 7,000 active crypto publishers and advertisers worldwide.
Harness the Power of Educational Content
Although crypto and blockchain have been around for years, people still need educational content to sharpen their crypto trading skills and better understand the underlying tech. Preparing educational content is important for attracting and retaining cryptocurrency users. Whether it’s a blog post about blockchain technology or a tutorial on how to get started in the cryptocurrency market, sharing valuable information helps build your brand’s credibility as an authority. Host a webinar, create video tutorials, and provide comprehensive guides on how to invest in crypto. You will not only educate people but also build an engaged community around your brand, viewing you as a reliable source of information.
It goes without saying that by creating educational content, you will contribute to greater crypto adoption, a nice by-product of your marketing moves.
Partner Up With Crypto Influencers
Influencer collaborations are an effective method in cryptocurrency advertising. Crypto influencers have a massive impact on their followers, making them excellent partners for promoting your brand. Collaborating with influencers who genuinely believe in your product or service can boost your credibility and reach within the community.
Bitmedia supports such collaborations by linking brands with influencers who match their target demographics and ensuring that promotional activities are effective. A full-service crypto marketing agency, Bitmedia focuses on successfully delivering tangible results.
Targeted Advertising and Sponsorship
The whole point of targeted advertising is to provide efficient and effective communication with specific crypto community segments. Advertisers use data analytics and user behavior analysis to tailor campaigns to their target audience’s interests and demands.
It is important to note that crypto users value their data; in other words, compared to Web2 users, they are more aware that advertisers can abuse personal data. For ethical reasons and to show that your brand is a proper Web3 brand, your strategies should not exploit consumers and implement ethical guidelines while avoiding manipulative practices.
Sponsoring your customers favorite podcasts, events, webinars, or YouTubers offers new avenues for direct engagement. Create a platform to share your brand’s message with already engaged and interested listeners or viewers. This is also a form of targeted advertising and requires pinpoint accuracy. You don’t want to waste your marketing budget on a costly but ineffective sponsorship. Bitmedia’s experience in sponsored content could help you identify the best possible sponsorship deals within the market.
Consider Accepting Crypto Payments
We are aware that this may not be possible in your country as crypto regulations change from region to region. If your brand is based in a country that is pro-crypto and allows cryptocurrency payments, we highly recommend considering levering this amazing right. Even today, many brands swiftly add cryptocurrency payment options on their platforms, which meets the crypto community’s needs and displays your commitment to the greater cryptocurrency ecosystem.
Think about it: you are positioning your brand as a crypto or blockchain business. Your entire customer base consists of crypto-native people who are looking for new ways to put their crypto to use. More brands accept crypto as a payment method, which speeds up mass adoption. It’s a win-win idea.
That said, check your country’s crypto regulation laws to prevent an unpleasant visit from the tax collectors. Unfortunately, crypto as a payment method is still taboo in many countries. Still, with more brands accepting payments in crypto, the competition will be stronger, and even governments will recognize the benefits.
We are not dealing with the customer behavior of the Web2 era anymore. Web3 users are more informed and harder to engage. As a result, traditional advertising approaches are no longer sufficient for effectively targeting crypto users. You must develop an in-depth knowledge of the crypto community’s unique dynamics, actively participate on various social media platforms, create and distribute educational content, form partnerships with the right influencers in the space, target your advertising efforts, and stay up to date on market trends.
Both tactics and strategy are in play here. Short-term collaborations can be beneficial for keeping up with emerging industry trends, but the winning move is to develop a solid marketing strategy. Bitmedia can support your brand in executing tactical moves as well as long-term marketing strategy development.