There are many uncertainties, but we all know one thing for sure, and it’s that the world is moving fast. Almost every time you look around, there’s a new strategy, approach, and solution to do things better.
Now, one of the exciting developments is blockchain marketing which offers great promises to companies in different industries, particularly cryptocurrency. While crypto marketing is still in its infancy, there are already many applications, strategies, and tips on how to make it more effective.
So, if you’re looking to implement a blockchain marketing strategy and are wondering how it works, read this guide to get a clear picture.
How Is Blockchain Used in Marketing?
A blockchain marketing strategy is essential to blockchain technology in the world of digital marketing. Blockchain’s immutability, openness, and privacy make it reliable and trusted for lots of applications.
Real-time micropayments are made possible by its transmission framework, which also reduces transaction fees and supports rapid exchange and verification.
Blockchain will inevitably have a big impact on how consumers and companies use the internet.
Blockchain allows marketing organizations to effectively manage their data, develop greater audience insights, and forge long consumer relationships.
How Can Blockchain Boost Marketing Strategies?
Blockchain technology has the potential to solve certain critical problems in the field of digital marketing and advertising. This is because it may give customers control over their private data, make payments less complicated, and get rid of middlemen.
Here are some specific benefits of blockchain marketing:
Openness & Transparency
Confusion over personal data is one of the primary issues people face today with the web.
They don’t know what information is gathered and who can get to it or share it. Given the current situation, many consumers are reluctant to provide any personal information to businesses, which is a big blow to their marketing success.
On the blockchain, all information is decentralized, documented, and permanent. People have total control over access to their data, which is excellent for online commerce.
Private data cannot be changed without the user’s knowledge, and businesses are not allowed to share it with third parties without the user’s explicit approval.
Secure Customized Ads
Building trust has strong marketing advantages, such as increasing marketing efficiency and boosting revenue.
But there’s more to it than this. People may upload their private details to one location using blockchain, including anything from their unique profile to preferences.
As a result, marketers now have accurate and in-depth customer data. Blockchain also minimizes the number of bogus accounts and bots that get up in marketers’ systems while helping them in finding real leads.
It also gives advertisers a way to monitor everyone’s online activity and modify their outreach as necessary.
It also allows businesses to show relevant ads to every single client, improving personalization and tailoring campaigns to the specific needs and desires of every customer segment.
Disrupting Google & Facebook’s Dominance
We all know that Google and Facebook dominate the digital ad game, but we also know that many customers in this era are unhappy with intrusive popup ads that affect their experience. That’s why we’ve seen such a massive surge in ad blockers.
It’s all because these two giants get paid to run ads that are only intrusive and won’t generate any engagement for the brand, either. A lose-lose deal for the advertiser and the consumer.
With a different kind of strategy, blockchain technology may enable advertisers to recoup part of that income. By bringing down the Google-Facebook wall, companies can pay customers directly for their interest.
Blockchain surely has the potential to disrupt the Google-Facebook monopoly in digital marketing. Even though keyword-based search will still exist, it will be far less prevalent. People can soon control their social media networks and online accounts.
By communicating directly with customers and sharing the benefits of ad visibility with them, businesses can avoid paying the social media giants of today.
Minimizing Click Fraud
When educating people about your products, solutions, and news, communication is essential. Sadly, recent scandals and fraud campaigns have somewhat challenged the value of online businesses.
With the increasing demand for online sponsored searches among various organizations, click fraud has gained a lot of popularity. It’s the deliberate act of trying to affect your rivals’ advertising spend. Click fraud can seriously harm your competitors’ marketing efforts and even put their company at risk.
As a result, the marketing industry needs blockchain to minimize click fraud. Blockchain-based marketing will inspire marketers to collaborate in an open and transparent environment where each company plays its part honestly and faithfully.
Improving Keyword Tracking
Keyword tracking is not easy to do in today’s market, and there are two big reasons behind it.
One is the constant evolution of Google algorithms. And let’s be honest: it’s hard to keep up with many of these changes. On top of that, people use various devices to connect nowadays. Plus, it is difficult to distinguish between local and national searches while tracking keywords across various devices.
At this point, as a marketer, you may create reports based on assumptions or educated guesses. With blockchain, you can monitor keywords with real data. No matter the devices or the area, it can help you efficiently track keyword locations.
This may help you in developing a precise, data-driven marketing strategy.
Comprehensive Payment Options
Blockchain has made it easy for any company to support different payment methods like cryptocurrency. Cryptocurrency payments will only become more popular in the realm of marketing.
Since digital currencies are completely transparent, businesses won’t have to stress over credit card fraud, bogus checks, or refund issues. Eliminating middlemen like banks will increase savings while maintaining complete transparency and financial security.
This is crucial for chargebacks since they are becoming more common as more people buy everything online.
Real-life Applications of Blockchain in Marketing
Now, you pretty much know how blockchain marketing can help businesses and consumers. However, you may still not know how blockchain can actually be used in digital marketing. Well, here are four real-life applications of blockchain marketing:
To reach a larger audience, companies primarily depend on celebrities and micro-influencers. However, influencer marketing has a bad reputation because of issues in monitoring return on investment, shady exchanges, and phony followers.
This issue can be easily resolved by blockchain and integrating smart contracts into the overall system. Smart contracts authorize payments when certain tasks have been completed, or the influencer has really kept their end of the deal.
This is a simple yet secure way to confirm the credibility of an influencer as well.
Every one of us participates in some sort of loyalty program. One could sign up for a brand’s loyalty program if they often buy from it or if they think there would be some financial reward from doing so.
However, a sizable portion of reward points from loyalty programs are typically not used. Therefore, the brand that controls these points is left with substantial financial responsibility.
With blockchain marketing, numerous brands can join forces and create a partnership using a standard points system. After the framework has been developed, customers and brands can utilize reward points from one company in another.
Affiliate Marketing Programs
The popularity of affiliate marketing has grown into a significant revenue stream for businesses and people. Sadly, costs in this sector are also higher.
People may save money by using blockchain to prevent paying too much in commission, interacting with dodgy associates, and browsing sites with little to no additional value. The system will be simplified by using cryptocurrencies, making payments easier, more viable, and safer for everyone.
The affiliate program often holds rewards until a user meets the minimum requirement. But with blockchain services, this isn’t true. On the other hand, smart contracts reduce the risk of ad scams and give users an essential guarantee.
This is one of the marketing world’s great dreams.
How can you contact clients who are more into buying your services? It’s usually like firing shots in the dark, praying that maybe one will hit the right spot. In the process, companies spend a ton of cash with little to show for it. Blockchain changes the whole game.
Using blockchain, your company can make Ethereum tokens and pay ad companies with these tokens. In that case, the ad agency can only spend the tokens when you are sure that the ads have reached your target demographic and created some engagement.
Everyone participating can earn and spend money based on how well the ad performs since the payment procedure is entirely automated and follows a formula.
Must-Have Crypto Marketing Strategies
So, we know that crypto marketing can change the game for companies and businesses. But you can still take some measures to make it more effective. Here are several pointers:
Use the Right Social Media Network
When working with social media networks, you need to know that each of them has a distinct user base that visits for a certain purpose.
Instagram is more suited for posting visually attractive content than Twitter, which is a microblogging service where users may share news and have real-time conversations. So, you must identify the right channel based on your target audience.
Nowadays, trying to stay active on all primary social media channels at once is an error that practically all crypto startups make in their operations.
To have a strong online presence, you have to be everywhere, but you must only pay attention to the channels where your target customer segment spends most of its time.
After all, you don’t want to waste your time, money, and effort. It’s usually not easy to find similarities between TikTok and LinkedIn users.
Because of numerous airdrop frauds, airdrops are less common than they once were. Airdrops continue to attract the most interest, though.
You give out free cryptocurrency tokens to anyone who signs up for airdrops. Since this distribution is free of charge, more people are drawn to it, expanding your reach. Airdrops not only have a large audience but also add liquidity to your startup.
You may start a newsletter to inform your readers. In addition to an informative newsletter, you can use email to welcome new users to your site, let them know when new features will be released, or invite them to free seminars.
You have the freedom to send your material as a text, a graphic, or a video. You decide how to lay out your email.
People typically respond more to your offers and communications via email since it feels more personal than a social media campaign.
Influencers Can Work Like Magic
You must take advantage of influencers to advertise your services since they are still quite important nowadays. They actually really help in extending a cryptocurrency’s lifetime.
With the healthy ROI anticipated from influencer marketing, most companies are increasing their budget allocation for this strategy.
Many people really trust influencers more than traditional sponsored media due to their powerful impact. The most popular platforms for promoting cryptocurrency companies are YouTube, Twitter, and Instagram.
By collaborating with influencers, you may reach thousands of new followers and instantly grow your network. Find influencers who are the ideal fit for your job.
Make Your Website Mobile-Friendly
Blockchain-based projects are online-only enterprises. One stage in your crypto marketing strategy should be to create a website for your crypto company. This website will be the first place for customers and interested parties looking to learn more about your idea.
You can accurately provide details on your work. Visitors may be impressed by a simple, responsive website that has all the necessary information.
In addition to a blockchain whitepaper and information about the founders, you can put an FAQ page to clear any confusion for visitors.
Telegram: The Go-to Social Media Platform
For many crypto users, Telegram has replaced other communication apps as their go-to option. There is one wonderful marketing tactic that is very affordable and helps you contact many crypto enthusiasts: Collaborate with popular crypto channels on Telegram.
Your project will benefit greatly from having a proper Telegram account, especially for communicating effectively with your community. By spreading the word about your work, you may further expand your community.
Building audience trust requires constant work in crypto marketing. You should put this strategy at the top of your priority list right away.
Do not be discouraged if your attempts fail. You have many options to build trust with people or rebuild your reputation for crypto marketing:
- Know what parts of your brand your target market dislikes, and address those issues.
- Never deceive your customers.
- Be honest, and don’t forget your commitments.
- Encourage satisfied clients to submit positive reviews, and help clients who have left critical reviews. You need to always pay attention to positive and negative feedback.
What marketers can and cannot do has traditionally been governed by technological advancement. Blockchain is no exception since technology has the ability to transform how customers interact online and make purchases.
Therefore, blockchain will inevitably become a crucial component of marketing activities, eliminating middlemen, saving time, boosting ROI, and improving the image of companies.
In the end, blockchain marketing can help you reach your demographic far easier than you’ve done in recent years. That’s good news for any company, and it is something worth pursuing.
Of course, blockchain and crypto marketing is only effective if you have the expertise and experience to run a campaign that’s tailored to your goals and audience. You can’t do it by trial and error.
Luckily, we at ICODA are there by your side through every step to identify your goals, strengths, and weaknesses to create your very own blockchain marketing strategy. You just have to get in touch with us and let us take it from here!