Why Coinfluence’s Influencer Marketing Platform is a Gamer Changer in the Crypto Industry
From a different angle, the cryptocurrency market is a jungle where those who shout the loudest have a better shot of succeeding. This has made marketing one of the most important activities in the emerging sector. A game-changer is needed in the crypto industry, and Coinfluence’s influencer marketing platform is at the heart of this change.
Marketing a blockchain project is not a straightforward assignment. It requires professionals who completely understand the nuances of the market. Depending on the project, it is important to attract investors, developers, or even other projects to build on a certain platform.
Several projects have unfortunately failed to attract their targets due to a slew of reasons.
Marketing Challenges Faced By Crypto Projects
One of the greatest breakthroughs of cryptocurrencies is the ability to send money from one part of the world to the other without third parties. This opened up many possibilities for global transfers.
The possibility also meant that cryptocurrencies are open to all the people in the world and are not subject to geographic limitations. However, this also presents a marketing challenge as crypto projects have to manage disparate community members who see the world differently.
There are different cultures involved and what may appeal to certain people may be a deal-breaker for others. Projects need to churn out marketing content and strategies that transcend cultural and marketing boundaries.
Another problem marketers face is that they are at the mercy of crypto prices. Their job becomes very easy when the crypto market is in a bear market. Token prices are going up, investors are making money, and everyone is happy.
But the reality is that whatever goes up must come down at some point. Bear markets are difficult for marketers, yet they cannot be avoided.
Token holders make the bulk of the community members of a project. The token holders tend to get uneasy when the prices go down and their portfolio plummets. It is very important to send marketing material that eases token holders and prevents panic selling.
Marketing is as much about customer retention as much as it is about customer acquisition.
There are also some external factors that have affected cryptocurrency marketing. Traditional platforms such as YouTube, Facebook, Twitter, and more have previously banned cryptocurrency advertisements on their channels.
These abrupt suspensions pose a big threat for crypto marketers as they have no guarantee that these platforms or others may not pull off similar stunts.
Another important factor is regulation.
Crypto Regulation and Marketing
The cryptocurrency market has grown at a faster rate than regulators would like. This has put the nascent market on the radar of lawmakers who see crypto as a villain of the financial sector.
Authorities in China are cracking down on the industry, and social media accounts related to cryptocurrency are being suspended. Imagine the loss suffered by crypto marketers who dedicated their time and resources to target social media users.
Regulation might be needed before the industry is considered legitimate, but it will come at a great expense that may have great repercussions for several crypto projects.
Regulators have also not held back in indicting influencers charged with unlawfully promoting crypto projects. Influencer marketing is effective but only if it is done right.
Coinfluence Influencer Marketing
Influencers marketing has played an important marketing role for the crypto industry. However, it needs to be done properly for it to be effective.
It does not make sense for crypto projects to engage the services of influencers whose followers are not really interested in crypto. The return on investment is very low even if the project is marketed to millions of people. You would rather market your project to a smaller number of people but with a high conversion rate.
Coinfluence’s platform carefully chooses influencers who can market blockchain projects to millions of people.
Another problem is that some so-called influencers buy followers. I am sure any project would be interested in paying influencers that have an organic following.
Coinfluence is building a community of 100,000 crypto influencers. These influencers can lend their support to different projects, setting them up for success.
Bottom Line
The crypto market has grown beyond what many expected since its inception. At the same time, the industry is very competitive and proper marketing is one of the best ways to stand out from the crowd.
Many marketing strategies have been used. The results vary due to a lot of factors. Influencer marketing is one of the marketing methods used, but if not done right, it could do more harm than good.
Coinfluence takes influencer marketing to another level with its platform of around 100,000 crypto influencers.
Crypto projects in need of strategic marketing can get in touch with Coinfluence to make an important step towards a successful journey.
Connect with us:
