The number of crypto businesses and blockchain startups is constantly growing, so we’ve decided to look into the current state of crypto business promotion and ICO promotion in order to provide some insight.
What has been your experience with promoting a cryptocurrency or blockchain company?
One thing that stands out in our survey is that most promotional activities only last for a few weeks or months. There is not much long-term investment into marketing cryptocurrencies, which might be due to the uncertainty and high price volatility seen on exchanges. It makes sense that more expensive campaigns are more focused on short-term goals.
1. Facebook and Adwords
Both platforms have proven to be effective when used correctly, but nowadays most crypto companies focus on Facebook due to its popularity and low marketing costs.
In the past, ICO campaigns were using Google Adwords for their campaigns, but it is no longer considered an efficient strategy. This is because Google bans ICO ads from their platform so companies have to find new ways of promoting their tokens.
The question remains whether marketing on Facebook is effective and profitable for a crypto company. In general, both platforms require a lot of time and effort from the company’s side, that needs to invest in professional tools to analyze the effectiveness of the different activities.
2. Twitter and Instagram
Twitter is one of the most popular social media platforms for crypto companies. Although it has lower activity than Facebook, it allows for the companies to reach a broader audience with minimal effort.
Instagram is a very popular platform among millennials and it is becoming a better option when compared to Facebook. It also requires less time and effort than other networks. Many companies have started using Instagram to promote their blockchain related content as well as their ICOs. Our site list is here.
In our survey, YouTube was mentioned as one of the most efficient marketing channels. What stands out about this platform is the fact that unlike Facebook and Twitter, the engagement is greater for high-quality content. What’s more, companies have full control over their content on YouTube as there are no ads or any other distractions.
4. Forums and Crypto Communities
There are many forums and crypto communities where crypto projects can promote themselves to a relevant audience. The main challenge here is to find communities with a high number of users interested in your project’s niche. Some websites may only accept quality content while others don’t uphold quality standards at all, even though they want to host your post. If you manage to find a website that suits your needs then it can be a very good option for promoting your cryptocurrency or ICO.
In our survey, the blog was considered one of the most popular channels for crypto communities and companies to promote their content. Blogs are not only known for business promotion but also for novice cryptocurrency users who are curious about new projects.
6. Telegram and Reddit
Telegram and Reddit are two of the most active channels where crypto companies can promote their content and build a following in the community. The main challenge is to find an active community where people are interested in your project’s niche. Reddit is more popular among developers and Telegram is better for ICO promotion as it has higher engagement rates than Twitter, Facebook etc…
7. Meetups and Conferences
Meetups and conferences are still the most effective ways of promoting a cryptocurrency or blockchain startup for manaul outreach. The number of attendees may seem small, but they are very influential in terms of potential investors and project advisors.
8. Cryptocurrency Exchanges
Cryptocurrency exchanges are usually interested in projects that have already established a following on other platforms, so you will have to work hard to get your content on multiple channels before thinking about targeting exchanges. It is also important to note that some exchanges don’t allow ICO to list their tokens on the platform.
9. Exclusive Articles
Exclusive articles can provide quality traffic from major media sites such as Nasdaq, Bloomberg etc… . The main issue here is that it is difficult to find media websites willing to publish an exclusive article about your cryptocurrency business and there is no guarantee for the effectiveness of such a promotion.
A considerable number of our respondents use bounties to attract new users, but only 44% of them said they were satisfied with the results. The participation in bounty campaigns can be costly and they require a lot of time and effort from the marketing team. The biggest problem with this type of promotion is that most bounty hunters don’t hold tokens for long-term investment, so they usually dump them once they receive their rewards.
Cryptocurrency companies are still very new in the business world and have a lot of work to do in order to become a well-known player. Even though the costs for marketing are low, there is not much long-term investment into marketing, which can be a problem for businesses interested in fast growth. Even though most users don’t invest in tokens, the content created by crypto companies is becoming more relevant as time goes by and investors start to consider them as potential investments.