Marketing is vital in any industry including cryptocurrency. With numerous cryptocurrency businesses emerging everywhere, businesses in this niche should consider the competition and many other factors while marketing. This blog discusses the top ten cryptocurrency marketing strategies to help your business grow and prosper.
10 Best Crypto Referral Marketing Strategies
Let’s dive in directly.
Have a website
You need an online platform for your crypto business. A website would serve as your business’s digital face. Make sure that it has an attractive design and puts you forward in the most appealing manner. Let it tell your target audience how they’d benefit by investing in the coin.
Don’t assume that every visitor knows something about crypto-currency. It’s only an emerging field. So, provide basic information in all aspects of the field through your content pieces. Besides, ensure that navigation is simple and easy to understand. This will increase your conversions.
Run a referral program
Studies have proved that referral programs can lead to the highest lead conversions and customer retention when compared to other marketing channels. That’s because people trust the recommendations of other people more than brand ads. So, have a formal referral program and promote it actively.
Incentivize your customers to refer you around. Your incentive can be anything like cash, free products, feature upgrades, or discounts on a future purchase. But make sure that it’s something they’d value. Only then will they actively take part in your referral program. Use a tool like InviteReferrals to simplify the management of the referral program for you.
Involve in direct messaging
Texting is another effective way to market your cryptocurrency. Spread the word around about your cryptocurrency launch using texting to get more responses. Here are some tips to use while texting.
- Introduce yourself and request a connection with the audience.
- Explain to them what you do.
- Segment the target audience into several groups and craft your messages to suit each individual group.
- Include a call to action that would take them to your website where they can understand you better.
Online giveaways, sweepstakes, or contests are events organized by your company, announcing expensive prizes. You can use these to target either existing or new customers. For, these help you increase your brand’s recognition and customer engagement.
You can pair your online giveaways with gamification, celebrations, new partnerships, reviews, and festive seasons to make the most of it. Some brands have hugely succeeded by announcing contests and sweepstakes at such events. So, do try it yourself.
Make use of social media
One of the most effective channels to market your cryptocurrency in the modern era is social media. You can connect and engage with the worldwide crypto community through it. Certain social media networks like Steemit and BTT (BitTorrent) are more specific for cryptocurrency marketing.
You can get knowledge of up-to-date exchange rates, real-time charts, videos, news, and more from these channels. Other than these, do use conventional social media platforms such as Facebook, Twitter, Telegram, Instagram, etc. for your marketing.
Give discounts on your products
Discount coupons are surefire crypto marketing strategies. By offering these, you give your customers or prospects an opportunity to purchase your cryptocurrencies. This also helps them develop an affinity towards your brand. CryptoWorld, a crypto business offers a discount for subscribing to its newsletter.
Some other crypto businesses have succeeded by offering a discount on occasions such as father’s day, partnerships with other businesses, etc. By giving a one-time discount of this sort, you won’t lose much. Instead, you’ll only gain long-term profits as more people start buying from you.
Offer cash back
People need the assurance that they’re investing their hard-earned money rightly while buying your crypto-currency. You can convince them well by offering a cashback program. BitOasis, a cryptocurrency trading firm offers 0.5% of cashback to its customers who exchange one of their currencies for another.
They do so for only the first three transactions. This helps attract consumers who trade big numbers as this would be profitable for them. You too can try something like this to bring more customers to you.
Pay for reviewing you
Gaining recognition in the crypto business niche is quite challenging. You need to employ new ideas to boost brand awareness and acknowledgment in the field. One idea is to pay your customers for reviewing you on cryptocurrency review sites such as Coinsdesk, Binance, BlockFi, Bitcoin IRA, Crypto.com, eToro, etc.
Metamouse, a renowned crypto-currency service, announced that it would pay ten dollars to individuals who reviewed their app on ProductHunt. The firm did this with the intention of generating awareness about their app among people interested in crypto and also collecting feedback that would help them improve their app further.
Involve in email marketing
Email marketing has never lost its charm and effectiveness. If you know how to market efficiently through emails, you can find great success through it. Send well-targeted email messages to your audience. It can be about a crypto facility, product launch, or token launch.
While marketing through emails, make sure that you have a short, appealing, and to-the-point subject line; a concise, clear, and crisp body message; and a clear Call-to-action (CTA). It’d be good to incorporate a meaningful image. However, ensure that it’s related, consistent with your brand identity, and has the right file size.
Though influencer marketing is new, it’s quite successful in bringing you customers quickly. That’s because it can give you instant exposure to millions of followers of someone renowned on social media. No wonder, this viral marketing technique is gaining popularity in the crypto niche.
Apart from promoting a project, crypto influencers also use it themselves so that they can learn from their experience and provide unbiased feedback to their followers. So, collaborate with an influencer and adopt a good cryptocurrency influencer marketing strategy to come out in flying colors.
This blog has discussed some of the best cryptocurrency marketing strategies to help your business prosper in the field. Do put them to use to promote your crypto business ethically and effectively. We wish you the very best in your endeavors.