Over the past few years, cryptocurrencies have taken a huge leap forward. It is observed in price and popularity. More people are taking the risk to get into this business and are getting tremendous benefits. Now, investing in crypto, mining it, and building projects based on it is already common. The growing popularity is accompanied by the emergence of many crypto startups. However, no matter what industry the project belongs to, without popularization, it has almost no chance to exist. Therefore, when it comes to marketing in the crypto sphere, it is necessary to point out that the right implementation of a strategy to attract the community is especially essential. Turning to a professional crypto marketing company allows you to forget about the difficulties of implementing your ideas and put everything in the hands of professionals. At the same time, you should also know the principle by which strategies are prepared, so let’s understand it in more detail.
5 Steps for Developing an Effective Crypto Marketing Strategy
Cryptocurrency and blockchain open up new opportunities for business creators, but just developing a startup isn’t enough. You need to learn how to pitch it properly to your audience. Follow these steps to promote your concept:
Learn More About Your Target Audience
A customer portrait is a set of factors that allows you to learn some information about a client, which can then be used to create effective advertising campaigns. An analysis of your target audience enables you to understand not only who the main consumers of a product are, but also to draw up an optimal marketing strategy. Knowing your customers, you can change the parameters of the product (color, packaging, taste, smell, materials), making the product as useful and suitable for them as possible.
The cheapest and most effective way to find out your audience is to arrange a survey on social networks. In addition, you can study blogs and forums about cryptocurrency, blockchain, exchanges, etc.
The main characteristics of the target buyer are as follows:
- gender, age,
- social status,
- place of residence ( it is not always important, but it is essential when conducting business offline),
- problem (what problem the person is solving by buying the product or ordering certain services)
- interests, hobbies.
Get to Know Your Competitors
Competitor analysis is required when drawing up sales plans for different periods, setting optimal prices, determining the prospects of the business under current tendencies, and discovering your strengths and weaknesses in comparison with other companies.
Competitor research consists of collecting and systematizing all available information. The main sources of data about competitors are:
- customer surveys within the target audience,
- analytical articles and reviews on the crypto market,
- visiting business events – here your competitors can tell a lot of interesting things about themselves, provide their contacts,
- spy marketing techniques – gathering information by subscribing to competitors’ newsletters, calling their sales managers, etc,
- exploring search queries on the Internet – in this case, you can find out what companies’ websites most of all the potential consumer goes to when searching for a certain product or service.
Create SMART Marketing Goals
This allows you to formulate a realistic and measurable goal, and define a timeline and the necessary resources to achieve it.
- Specific – the goal of your crypto project must be specific so that it cannot be interpreted in different ways. It should set the direction of the work.
- Measurable – the goal should be measurable so that you can determine how close you are to the result. Otherwise, it’s impossible to track progress.
- Attainable – the goal should open up new possibilities. It should be ambitious enough and not too easy to achieve. There must be a balance.
- Relevant – the goal must meet the needs of the crypto company and trends in cryptocurrencies, and blockchain. A meaningful goal will bring you closer to achieving global strategic objectives.
- Time-bound – define a time frame for promoting a company or a startup. On average it is from 3 months to a year. A goal with a specific deadline helps to determine the progress of the teams and plan tasks for the specified period.
Select Your Marketing Channels
Blockchain is a specific industry, so crypto marketing tools will also be different from the standard ones. In this area, you need to claim your credibility. Consider these few marketing channels:
- social media,
- Google ads,
- work with crypto-experts and influencers,
- community building.
Track Performance of Each Initiative
Tracking the key metrics of your marketing channels helps you analyze customer engagement and understand which tools are best for it. Each strategy has its own metrics, but the most basic ones are:
- open rate,
- Click rate,
- time spent,
The crypto business is complicated but very profitable due to new technologies and unusual developments. To succeed in this industry, you need to create a sought-after project/company and think of ways to grow. Popularizing yourself is an indispensable point in the stable operation of the company and involving more clients. Use the tips from the article to build the right marketing strategy and achieve your goals.
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