That was back in 2009. The Internet was nothing like it is today, and the crypto business was not taken really.
When Bitcoin was first introduced to the public as a crypto project as an alternative means of exchanging fiat currency, the vast majority could not understand how digital currency could be practical enough for everyday transactions. People were just getting used to the emerging trend of online shopping, and entering their credit card details into online portals to make payments.
In addition, when cryptocurrency was in its initial stages, the infrastructure was not there to support payments with virtual currencies, and well-known crypto projects, and there weren’t a lot of products or services that were being marketed online. So consumers did not have a lot of options to use crypto projects anyway.
In recent years, Bitcoin has seen a lot of limelight, and that has caused some extreme fluctuations in its price. For the greater part of it, the coverage established crypto exchanges and trading platforms among the mainstream options to trade and invest in.
And as time went by, a global-scale adoption of various cryptocurrencies and blockchains brought about acceptance from governments as well. While a lot more applications are based on blockchain technology, crypto exchanges are among the most competitive in the market.
What Has Lead to the Rise of Cryptocurrency as a Means of Exchange?
Over the previous decade, we have seen an exponential increase in the number of businesses shifting their focus toward the online space. The advancement of technology has made the Internet a utility and perhaps even a necessity to billions of users across the globe.
Companies have tried to capitalize on this previously inaccessible customer base by expanding their scope through online services. However, since online services cannot be availed by paying in cash, this has given rise to the use of cryptocurrency as a genuine means of exchange.
Another point in the crypto project’s favor is the appreciation in the value of numerous currencies over the past decade. The most notable was Bitcoin, which peaked at almost $20,000 in 2017, and in 2021, the rate renewed its high at $69,000. This has changed the perception of cryptocurrency in the eyes of the public, as many people now recognize its
What Is the Best Way to Obtain Cryptocurrency?
Naturally, consumers want to purchase their cryptocurrency now. The number of purchasing options consumers has with cryptocurrency has also risen. Nowadays, you can pay for your morning coffee, order a pizza, book your next trip, and much more with cryptocurrency.
As a result, the demand for convenient ways to purchase and store cryptocurrency have also increased, and this has led to the creation of numerous cryptocurrency exchange platforms. These exchange platforms operate as a crypto project based on blockchain technology. They allow consumers to exchange their fiat currency for various cryptocurrencies of their choice.
Many of the popular exchange platforms are peer-to-peer, which means that you can interact directly with the other person in a transaction, without any third party’s involvement or oversight. However, in recent times this industry has faced intense competition, as many of the leading exchange platforms have tried to best their counterparts and establish themselves as the go-to place to buy and sell cryptocurrency.
But what’s the difference between a successful and unsuccessful cryptocurrency exchange platform? The technology behind blockchain is the same, but what makes it different is the marketing and crypto marketing strategy within which it is promoted.
Why Is Marketing Important for a Cryptocurrency Exchange Platform?
Marketing is what improves a successful business of a company. It increases interest, enhances credibility, and draws the attention of the public. Any commodity needs to be promoted successfully to achieve an advantage over its rivals.
Substantial industry research and consulting would examine what services competing companies are selling. This would help you to develop your marketing campaigns by concentrating on the specific needs of your customer. Personalized strategies can be built and applied based on insight acquired.
The best approach to the development of the company’s business is a dynamic marketing strategy. The attributes of each project must be driven by the consumers. Similarly, attempts must be taken to draw new buyers to boost the financial condition of the company.
Why Are Crypto Marketing Strategies Important for Exchanges?
As the number of people captivated by cryptocurrencies increases, so does the number of ventures in the industry. Every day a new crypto project appears on the market, and not even one.
This makes it increasingly hard for people to find the right services and for projects to find the right audience. Along with that, the complexity and intangibility of the industry make it harder for potential investors to understand the actual worth of blockchain services.
To help users and developers comes cryptocurrency marketing – a set of tools for introducing all market participants.
What is the Best Crypto Marketing Strategies for Cryptocurrency Exchange Platforms?
As previously mentioned, cryptocurrency exchange platforms are based in the online space, and a marketing approach through traditional marketing channels will not be enough to successfully promote a crypto exchange platform. These platforms need to utilize the advancements in technology that enabled marketing firms to develop new and improved marketing strategies that result in increased customer engagement and higher conversion rates.
The perfect crypto marketing strategy for the perfect crypto businesses.
The Internet age has led to the rise of big data, and many new methods of promotion have been developed as a result.
Let’s take a look at some of the most prevalent marketing strategies that can be used by cryptocurrency exchange platforms.
Best Crypto Marketing Strategies for Exchanges: Examples
SEO in cryptocurrency
SEO optimization is a concept that marketing firms would not have to deal with just a few years ago. Now optimizing your website’s content so that it shows up in your potential customer’s searches is an essential part of the modern marketing strategy.
Quality material in the shape of posts, forums, video clips, illustrations, and promotional edits can go a fair distance toward building a positive relationship with the customer. The materials should align with the goals of the various groups of consumers. It can offer an understanding of the firm’s ambition by being both insightful and engaging.
Developing the talents of a quality team of individuals that can intelligently manage multiple systems are required for effective content marketing. The overall goal should be to increase the active participation of the users.
Content is a broad concept that includes other components of a crypto marketing campaign. For example, social media marketing or SMM.
Social Media Marketing
With the public spending so much of their time and money in the online space, businesses need to make effective use of various social media platforms. This is especially important for the cryptocurrency market because its entire life is centered on the Internet, and relevance depends on user attention.
Differentiated plans can be created for different social media platforms, such as Instagram, Medium, Twitch, Discord, Telegram, Twitter, Facebook, LinkedIn, Reddit, and others. All channels need to publish a certain number of posts regularly and create unique, interesting, and useful content that meets the technical requirements of the platform. It all depends on the requirements of a particular project, the topic of coverage, and the social media platform itself.
Social media marketing has many advantages compared to other promotion channels:
- it is the closest tool to the user, which can be used for direct communication between the client and crypto companies;
- easy analytics and data collection, many social networks have a built-in software or technical add-on to analyze incoming information and activity;
- premium resources, such as targeted advertising, can expand the reach of more relevant target markets. In addition, there is the ability to track social media analytics to improve the effectiveness of collective marketing activities;
- the speed and path of information delivery are the fastest and outperform other communication tools;
- Social media marketing is combined with almost all promotional strategies in the market, making the overall marketing strategy of the company even more successful.
Public Relations Marketing
Another crypto marketing trend is public relations marketing. Without this strategy, it is impossible to build a quality business project in cryptocurrency.
Public Relations Marketing is about comprehensively building a positive external and internal reputation for a company by building competent and trusting relationships between parties.
PR includes several popular ways of promotion. With the help of respected crypto marketing agencies that will help expand the value of the brand of the organization. Through participation in numerous events, news articles, and press releases. With the involvement of well-known crypto enthusiasts who can influence public opinion toward the crypto brand. This will create a clear global reputation for the company among merchants and customers and help it stay competitive in the crypto industry.
Influencer marketing should be discussed separately.
Influencer marketing is a new type of strategy in the crypto market. It essentially extends the concept of word-of-mouth marketing, as people with many social media followers are brought in to present product features and functions in a natural setting.
Crypto influencers are recognized cryptocurrency experts who, based on their own experience, can give a value judgment on the quality of a project and influence the opinion of the crypto community.
Crypto influencers can be hired as representatives of a company in a particular cryptocurrency community or social network to broadcast educational and awareness materials to industry projects. High-profile social media influencers and enthusiasts with large followings shape crypto marketing trends and are critical to expanding a company’s reach.
The role of Influencer marketing in marketing strategy is very important because today’s social media trends are heavily influenced by the opinions of prominent experts, who broadcast their observations online.
Not every crypto project can cope with a competent crypto marketing strategy. This is a time-consuming process that takes a significant amount of time and financial costs. It is better to concentrate on technical development and delegate marketing to professionals – a crypto marketing agency.
Crypto Marketing Agency
A crypto marketing agency is a specialized company that provides comprehensive services to promote crypto products on the market. Crypto marketing agencies, depending on the conditions of the concluded services can close the promotion through digital marketing channels:
- influencer marketing;
- email marketing;
- content marketing and press releases;
- crypto community;
- effective social media strategy;
- Implement bounty campaigns and airdrop;
- Correcting information from the crypto website as part of the strategy;
- Conduct crypto events for the company and more.
The duties of a crypto marketing agency for a company are not fixed; they vary depending on the requirements of the projects and the purposes crypto marketing covers.
Email marketing can be used as a viable strategy to gather potential customers by sending relevant e-mails to customers that are looking for your products. Generating articles and journals are a popular way to attract people. However, you need to make sure your e-mails provide value and don’t end up in the spam folder. You can track your strategy’s results through measurable performance indicators.
Email Marketing acts as an additional tool for creating a general opinion about a project in crypto. With Email Marketing, all channels of exposure to the potential customer and user are utilized and more people learn about the opportunities the company provides.
Pay-per-click marketing is another example of a premium service accessible on certain marketing platforms to attract additional online traffic. Income is generated by the site if the customer clicks on the advertising content, which can be in the shape of a brief clip, poster, picture, or commercial. It helps to raise market visibility in a cost-effective manner. Output can be monitored on a daily basis.
The above-mentioned marketing techniques and strategies all take advantage of modern technology to successfully promote crypto exchange platforms. Since the nature of cryptocurrency is virtual, it doesn’t make sense to use traditional advertising channels to promote it.
TV spots or newspaper ads may seem like an opportunity to capture the attention of an untapped audience that is unaware of the benefits of cryptocurrency as a means of an exchange over fiat currency. However, it is much more worthwhile to create targeted marketing strategies that focus on converting tech-savvy customers toward your exchange platform.
Since this segment of the audience is already somewhat interested in crypto-based on their search history, you can more easily convince them to use your exchange platform. Good luck!