Best Marketing Strategy for Crypto Projects in 2024
Web3 is the concept of the third generation of the Internet, the so-called “World Wide Web”, which will work based on the blockchain, will be decentralized, and the economy will be built based on tokens. But how the marketing will work on Web3? Today we will focus our attention on crypto marketing and its strategies.
What is Crypto Marketing?
Web3 is a redistribution of power in favor of the average consumer. The idea is that consumers “rule” information instead of traveling through the digital world in the passenger seat. Then marketers will have to focus more on building a solid community. The distrust of brands and how companies use data grows, so the community becomes essential.
Big companies like Meta (Facebook) and Google make most of their money from advertising, and many Web2 startups use it to get their first customers.
All this vast profitability comes from ordinary users spending their time viewing intrusive ads in their Facebook/Instagram feed or on YouTube. Accordingly, the monetization of companies is based on users, but the users themselves do not receive anything for this.
This is due to the monopoly positioning of giant companies in Web2.
User data and its profits do not belong to the users themselves. Meta (Facebook) and Google even control user preferences- our interests. They push advertising on us and deprive us of the rewards we would have received depending on the time and attention spent. This is where Web3 marketing comes in as a solution to this problem.
Web3 marketing is built with a completely different approach. It consists of the fact that the user receives a reward for viewing ads, and the higher his involvement, the higher the premium. In Web2, we watch intrusive advertising and do not get anything for it (only companies that place this advertisement earn money); in Web3, we watch ads only when we want to and receive rewards for this in the form of crypto tokens and NFT.
What Tasks Does Crypto Marketing Solve?
Crypto marketing fundamentally performs two types of tasks. The first type is the attraction of token holders. This process is necessary to attract an audience before you make a token sale, update your project, or scale it.
The second type of crypto marketing is to attract new users to your project. A new crypto project often needs real users at the beta testing stage to understand how well certain features work. Also, the marketing process is necessary for the stable version of the project to try out the ready-made functions, improve them if necessary, and understand if the audience needs other services.
Marketing Strategy Stages
Now let’s take a closer look at the steps that should be followed in building a successful marketing strategy.
To build a successful marketing strategy, you need to carefully analyze your competitors, understand their strengths and weaknesses, and find a way to use this knowledge to your advantage. It is worth noting that digital marketing tools like Similarweb are a good tool for analysis.
Next, you need to create a portrait of your target audience. You need to identify their desires, fears, barriers, and triggers. In the case of crypto marketing, it is first of all essential to understand the behavior and nature of the audience, and then you can analyze their demographics. You can thoroughly analyze users using polls in Discord or on thematic forums.
Defining goals and KPIs for your marketing campaign in advance is also very important. So you can clearly understand what results you need and move towards achieving them. For this process, any experienced Crypto marketing agency will advise you on the SMART goals approach.
It would help if you worked hard to make your website attractive and recognizable against many other top crypto projects. Unfortunately, this aspect is overlooked by many companies, commissioning designs from freelancers with the mark “make something in space style.” Such a decision leads to the fact that the finished website is lost against the background of the rest, and the users who came to it begin to think that this is another scam. And we don’t need that, do we? The content that should be presented on the start page should include your team presentation, project goals, roadmap, and benefits for its users.
And, of course, remember to create profiles on popular social networks and regularly update them with new publications – this is where your users can learn about updates and news of your project. In other words, you need to become an influencer. At the same time, it is essential to make such publications simple but meaningful so that even dummies can understand them.
And finally, a few words about startup directories – you should not forget about your project here. By doing this, you will increase the organic traffic growth to your website and will be able to establish yourself as a growing project with long-term prospects.
Attracting an Audience
When preparing for the airdrop, you must take it incredibly seriously because this stage will lay a solid foundation for promoting your project.
In particular, you can start by inviting potential and current project participants to retweet and repost your publications, leave comments under your posts, etc.
Another great practice is resorting to influencer marketing. However, here it is essential to take a very responsible approach to choosing influencers for promotion, as they should not only cover the subject of the crypto world but also have a demographic that suits you. If you have other influencers in mind, you can resort to the help of specialized aggregators that unite advertising customers and opinion leaders on a single digital platform.
Pay attention to the PR in the media – thanks to this, you will be able to maximize the reach of your potential target audience. Exceptional cases of such marketing are the writing of minor press releases and guest posts. The main thing is to find resources suitable for your topic. However, remember that this technique should not be the main one in your marketing campaign; in this regard, allocate at most 10 percent of your total budget for its implementation.
And finally, a few words about pay-per-click (PPC) advertising. This is a reasonably effective tool, which requires professional tuning. In particular, depending on which communication channels you will interact with your target audience through, you may need specialists to work with Twitter Ads, Meta Ads, Google Ads, or TikTok Ads.
If you want to involve your audience in the project to the maximum, you should hold AMA sessions among community members. Depending on your project’s development stage and business development intensity, such sessions can be held 1-2 times a month.
It will be reasonable to hold competitions and tournaments between community members. So they can get even more involved in your project and become more loyal to what you do.
It is vital to monitor how users respond to your product, while you must react quickly to negative reviews and correct those shortcomings your audience does not like. By working on the bugs, you will increase the number of positive reviews and thus increase interest and trust in your project.
Remember good old email marketing too. You can send emails to your users to inform them about your project’s updates and, in general, related news. This way, you can increase the audience’s awareness of your project and its development.
Work with a Crypto Marketing Agency
Since all of the above points are challenging to implement and require a rational approach to budget allocation, you may need the help of a digital marketing agency specializing in working with crypto projects. In particular, you can contact Coinband. We have years of experience in advancing NFT, Web 3.0, and blockchain projects, taking them from pre-release stages to global scaling stages. Our client list includes ByBit, OKX, NEAR, ChainGPT, and LayerAI. We always guarantee the transparency of advertising and promotion costs, so by cooperating with us, you will always be sure that every cent of yours is paid off in full.
Summing up the above, a successful marketing strategy for crypto projects means a comprehensive, multi-channel approach that covers all possible aspects of interaction with your target audience. To do this, you will need a team of diversified experts who can effectively combine their efforts to benefit your project. If you are looking for such a team, feel free to contact us. We will apply our best practices developed over the years to ensure the maximum return on your marketing investment and bring your product to genuine popularity.