Coming off of the recent crypto crash that concluded a year-long bull run, steady gains and a relatively high floor point to an inevitable crypto rebound. As with previous fluctuations in this largely speculative market, crypto companies are looking for ways to publicize their solid fundamentals in a way that will disassociate them from the shady altcoins that threaten the legitimacy of the entire industry. What better way to get the word out than by enlisting the help of traditional marketing strategies? Here’s how crypto marketing functions in this fast-paced field.
Crypto Marketing on Four Fronts
In an oversaturated market such as crypto, standing out is the name of the game. Crypto marketing agencies can provide the edge that lifts their clients above their competitors. With publicity as priority, the PESO model shows how marketing is commonly conducted.
One way an agency can raise awareness of their clients is through promotional content such as paid stories in media outlets. A reputable agency with reliable media contacts is positioned particularly well to get this type of content published at reasonable rates. Even with a “sponsored” tag, this type of coverage can prove very beneficial for a client’s public image.
More straight-forward marketing tactics, such as advertisements on social media, provide another avenue for publicity. But no amount of paid media will ever pay off in the same way that earned media does, especially in the crypto marketing sphere.
Earned Media – The Golden Goose
All up-and-coming crypto companies yearn for earned media, which takes many forms. Positive conversations about a crypto company in an Instagram or Twitter post are prominent examples of earned media, which is aptly defined as publicity that is voluntarily provided by others without payment.
What does that entail from the marketing side? If the brand is big enough, earned media may present itself organically in the form of online blogs like Investing.com’s Ethereum chat. Dogecoin certainly enjoyed the boost from Elon Musk’s unofficial Twitter endorsement, which generated enough reactions to sustain an extensive earned media campaign fueled entirely by hype.
Another coveted form of earned media is external media coverage, which both publicizes and validates a crypto company’s actions or ideas. Crypto marketing agencies can facilitate the publishing of this content by engaging with their (ideally) extensive network of reporters, bloggers, and online influencers. External coverage is even easier to earn when a crypto company has a reliable track record and a unique position in the market.
Reaching this level of free, organic coverage is truly an asset in the overcrowded crypto industry, but crypto marketers can make it possible by having the right connections, being active on social media, conducting extensive, targeted outreach, and by establishing an honest, beneficial relationship with a crypto company’s key publics.
Examples of shared and earned media are often interchangeable, especially when it comes to social media. Agencies differentiate between the two based on who is making the post. When Litecoin sparks a conversation by posting a thought-provoking tweet, the content in the comments section can be considered shared media.
Shared media can be a good middle ground between earned media, which is entirely outside of an agency’s control, and owned media, which they govern directly.
Marketing almost always involves some form of owned media, which is critical for disseminating a crypto company’s fundamental operations, goals, and any relevant updates.
If you’re a serious Ethereum investor, there is a good chance you’ve been on their website, a type of owned media, at least once. Websites and other company-owned platforms are an ideal “home base” from which crypto marketers can announce developments and host important brand information for the public.
Four Interfaces Working in Tandem
For a crypto marketing campaign to be considered robust, all four forms of media must be undertaken. Cutting through the bustling world of crypto demands some degree of guided hype from which crypto marketers can launch a wider publicity campaign for a crypto company. Anything less, and they’re just another altcoin.