Influencer marketing has become much more relevant for marketing and promotion of blockchain projects. How has it evolved and what other creative solutions have joined forces along with it? Find out here!
Since the advent of bitcoin, the crypto-sphere has always worked with unconventional methods as compared to any other traditional sector. Be it the evolvement of specific social media channels like telegram or the innovative methods for marketing a blockchain project, it has its own set of rules and parameters.
Over the years, new ideas, that are a tad bit different than the conventional ones, have found their own place in the crypto community. One of them is influencer marketing.
The Need for Creative Solutions for Marketing in Crypto-Sphere
The rules of traditional methods for marketing and promotion do not exactly work the same for a crypto project. This is primarily because major advertisement platforms including Google and Facebook have banned ads pertaining to crypto-related projects.
The crypto community literally has its own social media channel, telegram, to discuss the range of issues, the latest news, and happenings. Moreover, the crypto sphere is filled with fresh ideas and emerging new projects in the blockchain sector. But, with the lack of a proper tool, there was a major gap in getting the ‘word out’ for these new platforms.
This gap was ultimately filled by a group of individuals, who had built ‘trust’ amongst the crypto community, namely the influencers. While influencer marketing has expanded into nearly every sector, it is all the more relevant for the crypto-sphere. Left with fewer means for traditional advertising, influencer marketing gained all the more significance during the period of the ‘ICO boom’.
The Significance of Crypto Influencers
The concepts and practices in the cryptocurrency industry are relatively new. Even an experienced investor needs analysis, research, and opinions for vetting any blockchain project. Influencers are the ones who deliver the right information needed for vetting a project through word of mouth but on a digital system.
The investors, with thousands of followers on social media channels including Youtube, and Discord, among others, have achieved the ‘trust’ amongst the crypto-community to draw the right amount of attention. The crypto influencers possess the sway to promote a brand, draw user’s attention towards a specific cryptocurrency, build mass awareness for a blockchain project, and basically attain a level of success for any crypto project.
John Mcafee is one such example of a crypto influencer who promotes cryptocurrencies on his twitter handle, in exchange for a fee. Last year, when he promoted a new cryptocurrency through a video, the price of it surged to 12%. That is the power of crypto influencers in the crypto-sphere today.
The crypto influencers engage with their community by putting out videos on youtube channel, analyzing the technical and fundamentals of cryptocurrency on their twitter handle, or by covering the latest new piece on their telegram channel.
Airdrops: A Creative Marketing Technique
As we stated earlier, conventional methods do not apply to the crypto industry. Case in Point: Airdrops.
Another creative way that has gotten hold in the blockchain industry is Airdrops-the free crypto distribution for an emerging crypto/ blockchain project in order to promote it. It is basically a creative marketing strategy designed for marketing the project, building brand recognition, and drawing a user’s attention to the project.
Further, they are also used as a way to hand out rewards to a loyal customer, generate buzz about the project in the crypto community, and acquire new customers.
Now, in order to optimize the results for an airdrop, it is necessary to spread it to a wider audience. The impact of an airdrop will hit the most when it reaches a significantly broader distribution. This is where the network influencers can be leveraged in order to maximize the results.
This out-of-the-box marketing technique has worked for a number of blockchain projects in the industry.
The prominence of Crypto Influencers
There are a number of factors that are too complicated in the blockchain space. From regulations to the market movements-it becomes difficult for an investor to make informed decisions. This is where influencers come in.
They untangle the ever-evolving blockchain industry and market trends. The influencer helps an investor, directly or indirectly, in making a decision by creating video content explaining current trends and market analysis of cryptocurrencies. Further, an influencer also plays a crucial role in how the market moves.
While the role and specifics of each influencer are different, the key factor remains the same. Whether it is for promoting a blockchain project or influencing the prices of a cryptocurrency, they have the potential to reach masses through the process of content creation.