What is Crypto Marketing? (+5 Case Studies)
Crypto in 2022 is so much more than Bitcoin.
The truth is that blockchain technology is rapidly pushing us deeper and deeper into the fascinating world of Web3.
Every day hundreds of new crypto companies pop up, ranging from Defi startups, crypto non-profits, NFT projects, DAO communities, Metaverse software companies, and much more.
So if crypto is so multi-faceted, what exactly is ‘crypto marketing’?
This article will give you an insider look into crypto marketing. It will show you exactly what it is, how companies are doing it, as well as specific case studies from some of the world’s most successful crypto startups, so you can apply them to your own crypto business.
Table of contents
Crypto Marketing vs. Regular Marketing
Crypto marketing is any digital marketing campaign designed to help a crypto company grow its awareness, exposure, community, and revenue.
Well, you might be thinking to yourself…
‘OK, isn’t that the exact same thing as a regular marketing campaign?’
Well, yes, and no.
You see, while all marketing campaigns are inherently similar in that they are aimed at growth, crypto marketing is a bit different.
The truth is that crypto-enthusiasts play by a different set of rules. They hang out in certain (digital) places, they respond to certain phrases, and they expect certain things. Simply put, crypto is its own unique subculture.
And just as importantly – the crypto industry is riddled with scams. And even if a crypto startup is legit, the market is so volatile that the large majority of startups go out of business within a year.
Because of this, your crypto startup has to put extra focus on building trust and growing a real community, all while increasing the amount of hype for your project.
Here are 4 ways to take your crypto marketing campaign to the moon (with detailed examples)…
#1 – Content Marketing (Example – Cardano & VeeFriends)
Pros of Content Marketing
✅ Builds Trust
✅ SEO benefits
✅ Educates customers
Cons of Content Marketing
❌ Difficult to scale
❌ Requires in-depth knowledge of product and crypto space
While Bitcoin has been around for well over a decade, the truth is that the crypto-adoption rate is still quite low across the world.
Because of this, many people are still learning about crypto, and aren’t completely certain of what they are getting themselves into.
That’s where content marketing comes into play.
Think of content marketing as a means to educate your potential customers. By doing this you will be able to teach them not just about your company, but about blockchain as a whole.
Some examples of content marketing are…
- Blog posts
- Beginner guides
- Knowledge hubs
- FAQs
- Glossary
- Webinars
- And more
Below you can see the website for Cardano (ADA).
They have built out an entire hub to educate their users not only on the benefits of their product but also on cryptocurrency and blockchain as a whole.
Another example is VeeFriends – a popular NFT project by Gary Vaynerchuck.
VeeFriends publishes a lot of helpful blog posts and tutorials about the industry and their products – often multiple times a day!
These two examples show the power of content marketing. By publishing premium content you can educate and build trust with your audience, which can also open the door for immense SEO benefits.
Speaking of which…
#2 – SEO (Example – Binance)
Pros of SEO
✅ Easier to scale
✅ Can bring in traffic
✅ Allows you to create a funnel
Cons of SEO
❌ Difficult to do in-house
❌ Very competitive
Investing in a content marketing strategy doesn’t directly help with SEO, but if done correctly, the two complement each other quite nicely.
This is because content marketing helps to build out your site, and the more quality content on your site, the more Google will look at you as an authority, and therefore rank your pages higher.
But to do SEO correctly, you need to have a real SEO strategy.
Let’s look at Binance’s SEO…
As you can see, Binance is pouring a TON of resources into their SEO – and it’s really paying off.
Binance is getting 17 million monthly visits from SEO with 530,000 ranking keywords (of which, 37,000 are in the top 3 results). This has helped them generate over 85 million backlinks and an absurdly impressive DR rating of 91.
And this isn’t just for branded searches, look at what happens when we filter out ‘Binance’ and just look at the traffic that just goes to their blog.
That’s right, Binance’s blog is ranking for over 11,000 non-branded keywords.
These articles are written with a keyword in mind, are crafted to educate searchers, and most importantly…
They are bringing searchers down their funnel.
SEO isn’t as easy as it used to be, but if you work with a professional agency, you can use SEO to your business’ advantage to get traffic and convert that traffic to lifelong customers.
#3 – Email marketing (Example – Coinbase)
Pros of email marketing
✅ High engagement rates
✅ Ability to nurture leads
✅ High conversion rates
Cons of email marketing
❌ ESPs can be challenging to master
❌ High stakes – you can’t un-send emails!
Unlike SEO, which is one of the best ways to generate new leads, email marketing is best seen as a way to nurture existing leads and customers.
And very few crypto companies do this as well as Coinbase.
One of the world’s leading crypto exchanges, Coinbase takes its email marketing very seriously. They use email marketing to nurture leads, keep its user base up to date with industry trends, and educate its customers about its many products.
There are email lead magnets spread throughout the entire site…
And once you sign up, you get weekly emails about what’s happening in the crypto world – an email series referred to as “Coinbase Bytes”.
These emails aren’t designed to hard-sell their subscribers. In fact, quite the opposite. They are extremely well-written and well-designed, which helps create a sense of trust in their user base. The emails provide so much value that subscribers end up appreciating the Coinbase brand, which makes them more likely to continue using and referring their products.
It’s important to remember that email marketing is a truly unique marketing strategy.
Why?
Google could delist you from their search engine. YouTube could ban you from their platform. Instagram could vanish overnight. But your email list? Well, that’s yours forever, and no one can take it from you.
Plus, compared to engagement rates on social media platforms, Email Marketing still delivers the best ROI out of all marketing platforms.
Because of this, email marketing is a one-of-a-kind marketing platform that truly can transform your crypto business, and elevate the relationship you have with your customers and community.
#4 – Influencer Marketing (Example – FTX)
Pros of Influencer Marketing
✅ Can be cost-effective
✅ UGC performs well
✅ Ability to up-cycle content
Cons of Influencer Marketing
❌ Difficult to scale
While influencer marketing might seem like a new trend, truth be told it’s a marketing strategy that has been used for centuries.
The old system – hire a celebrity and have them endorse your product on a commercial or billboard.
The new system – find macro and micro-influencers on social media who will create content on behalf of your product.
And it’s an extremely effective strategy.
We see influencer marketing every day on social media nearly 90% of brands that engage in influencer marketing say it gives them the same or better ROI than other forms of marketing.
FTX (another large crypto exchange) has done an impressive job with its influencer marketing, as it was a key contributor to growing its revenue from $8 million in 2019 to $32 billion just a few years later.
Sure, they brought on some mega-influencers such as Tom Brady, Steph Curry, and Naomi Osaka, but they also ran numerous campaigns where they employed smaller social media influencers from around the world.
FTX found influencers who had overlapping audiences, and hired them to create content in a series called ‘Crypto in 60 Seconds’.
These videos were published on all corners of social media and contributed greatly to FTXs growth in the past few years.
Some of the influencers have massive followings, others have more modest followings.
And the best part about influencer marketing is that you can use the content and repurpose it for paid social media ads or for content on your website (like FTX did)
This type of content feels extremely organic and gives your crypto startup a sense of authenticity that is nearly impossible to manufacture. Viewers are nearly 2.4 times as likely to watch UGC (user-generated content) than they are traditional ads.
People Also Ask
What should I look for in a crypto marketing agency?
The most important thing to look for in a crypto marketing agency is experience – not only with Web3, but also getting results in Web2. If their website has information about Web3 and they also have a track record of getting results in Web2, then it’s certainly worth reaching out to them.
Where can I market my crypto start-up?
There is no set playbook for where to market your crypto start-up – it really depends on where your audience hangs out online. Some of the most obvious places are Twitter, Reddit, Discord, and Instagram, but there might be some quicker wins available. Be sure to do audience research to find out which platforms will be most effective for your startup.
Why is crypto marketing important?
Crypto is no longer a fringe industry. It is highly competitive, and because of numerous scams, it’s harder (and more important) than ever to build trust and authority. A great crypto marketing campaign can help you achieve this, which in turn will result in massive growth for your crypto company.
Final thoughts
NFTs, DAOs, Defi – It doesn’t matter what crypto-vertical your startup is in – the fact of the matter is that you need a strong internet presence to be able to grow and scale your company.
We know the challenges that crypto companies face, so if you are serious about your growth and want to partner with a results-orientated global agency, then be sure to reach out to a First Page specialist today.
