The crypto market is ripe for adaptation, experimentation, and — ultimately — profitable growth in 2024. A critical factor in achieving this is prioritizing privacy. Strong privacy fundamentals enable accurate measurement and play a big role in building user trust.
In a digital environment where only 3% of consumers feel they control their online data, trust becomes a cornerstone for fostering customer loyalty and growth in the crypto sector. In fact, 43% of individuals indicate they would switch from their preferred crypto platform to a second-choice platform if the latter offered a superior privacy experience.
Looking beyond privacy, the crypto market faces various areas of focus in the new year — from responsible AI to redefining value. To explore these, insights from leaders in the digital marketing sphere highlight the top predictions for 2024 that can help crypto businesses thrive.
Read about The Future of Privacy in Crypto Advertising
Micro Pivoting in the ‘Never Normal’
The crypto market, having navigated through numerous crises, now operates in a state of continuous evolution and instability. This environment demands that crypto marketers become truly agile, responding swiftly to changes such as economic shifts, new consumer needs, and budget fluctuations.
Accepting a culture of agility and micro-pivoting is essential. For instance, a crypto platform might adjust its marketing message in one week based on instant changes and consumer feedback, moving away from the traditional 5-year plan towards a more fluid strategy.
With Great AI Power Comes Great Responsibility
AI presents vast potential for crypto marketers, streamlining processes and making information more accessible. However, it also demands a thoughtful approach, especially in 2024.
Responsible AI in marketing means being bold, collaborative, and conscientious.
Key considerations include:
- Setting a North Star KPI: AI can quickly optimize marketing campaigns in the crypto world. Balancing KPIs with consideration for both bottom-line impact and societal implications is crucial.
- Transparency about data use: While AI tools are expected in personalizing marketing, clear communication about how user data informs these tools is necessary to build trust.
- Legal and brand compliance: Human insight and technology synergy drive creativity in the AI era. Crypto marketers must ensure that content is legally compliant and aligns with the brand’s tone.
Sustainability Efforts to Scale Up Behind the Scenes
Sustainability is moving from a consumer trend to a core focus for marketers. Like Google, many in the crypto industry are committing to net-zero goals. In 2024, the emphasis will be on tangible actions, often happening behind the scenes.
Crypto agencies and brands should consider the environmental impact of their advertising and how marketing can drive positive change. Supporting initiatives like Ad Net Zero can guide marketers in sustainable actions.
Think Outside the Search Box
The evolution of Google Search reflects broader changes in how people find information. In the crypto space, adapting to voice searches, image searches (like Google Lens), and even multisearch can help reach a wider audience. Updating your crypto platform’s digital presence to accommodate these search methods ensures your offerings are easily accessible.
Beyond Price and Quality: The New Frontier of Value
The concept of value is developing, with consumers, especially Millennials and Gen Z, considering factors beyond price and quality. In the crypto market, values like sustainability, experience, and data privacy matter for usefulness in purchasing decisions.
To connect with consumers in 2024, crypto marketers MUST transparently communicate the multifaceted values their platform offers and the principles it stands by. It is key to staying relevant and fostering lasting relationships with your audience.
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