Marketing Matters: Strategies for Cryptocurrency Businesses

Marketing Matters: Strategies for Cryptocurrency Businesses

In Business Strategy, Crypto Marketing, Digital Marketing, Marketing Strategy by Flying V GroupLeave a Comment

Reading Time: 7 minutes
Simple Marketing Tactics for Cryptocurrency Brands

Provide as much online education as you can, with robust FAQs, blog articles, and more. Cryptocurrency remains cryptic for many investors.

  Manage your online reputations diligently. Actively seek out customer reviews. Respond to all customer feedback on review sites.

  Highlight all financial and security accreditations and regulatory compliance to build trust in your company.

  Highlight your advanced security practices in terms laymen can understand.

  Optimize customer support practices. Employ friendly, knowledgeable reps across all touchpoints. Offer telephone and live chat support. 24/7 is best.

  Use email best practices, including tested subject lines and keywords, and clear CTAs.

  Hire a top-notch SEO firm to assess your website and execute recommendations. Identify the best analytics and run them routinely.

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Once it was a pie-in-the-sky concept. But cryptocurrency has since become the bread and butter of countless investment portfolios. There are more than 12,000 cryptocurrencies available for purchase today—about twice the number as there were just a year ago. There are an estimated 300 million cryptocurrency owners globally, with about 27,000,000 of them located in the United States. That represents about 8% of the US population.

 The question for cryptocurrency brands and marketers of value-added crypto products like crypto exchanges and crypto wallets, is how to build brand recognition and loyalty and ultimately rack up more sales in a phenomenally competitive market. Some sales and marketing strategies cut across pretty much all industry lines, but the crypto market presents some unique challenges. We recommend a mix of evergreen and idiosyncratic marketing strategies to build your crypto brand.

Trust Is the Foundation of Brand Building

That’s a widely accepted statement, whether you’re selling tennis shoes, tortilla chips, or microchips. If you think that marketers over-emphasize that pearl of wisdom, know that behind it is a mountain of consumer data. A 2021 study of 14,000 respondents conducted by Edelman, for example, revealed that 88% of consumers consider trust a critical motivator in purchase behavior, trailing just “good value for the money” and “best quality” as a decision-making criterion. The study further demonstrated that trust drives growth: 61% of people surveyed indicated that they would actively advocate for brands they trusted, through direct recommendation, social media activity, and even proudly wearing a trusted brand’s logo. That’s the kind of promotion money can’t buy.

How Do You Build Customer Trust in the Cryptocurrency Market?

In some ways, much as you would in other industries. But cryptocurrency is a relatively new and, arguably, misunderstood product category. Even active crypto investors are often in the dark about how cryptocurrency works, what benefits and risks it presents, and how to build a sound crypto investment strategy. That’s why education is worth its weight in Bitcoin to crypto consumers. If you want to be competitive in the industry, your aim should be to out-teach every one of your competitors. The information you offer customers should stretch way beyond your own products to topics of interest to both beginning and experienced crypto customers.

Here's what that looks like in practice. Your website should provide multiple customer education resources. They should be organized so customers can easily access precisely the information they need. And don’t bury the lede. Many marketers make the mistake of hiding such resources as their blogs and FAQ sections at the bottom of their homepages in tiny type. Put educational resources front and center on your home page. If you have an overall search bar on your site, be sure it can lead customers to your most valuable learning pages. Audit your website carefully, performing searches using the search terms customers are most likely to use. You may be surprised at how much of the content you’ve so carefully developed is too hard to find or even invisible to consumers.

The tone and readability of your content also counts. The language of cryptocurrency is jargony and full of acronyms. You’d do well to review all your marketing content to be sure it’s plainspoken and that it speaks in laymen’s terms about complicated topics—especially those related to security. If you employ advanced security measures, explain them in the simplest terms possible. Talk about compliance, naming the regulatory bodies whose rules you obey. Lastly, don’t ignore the elephant in the room. Despite how widespread cryptocurrency ownership has become, customers are fed a steady diet of news of cryptocurrency scams. It’s marketing’s job to distinguish your legitimate business from the bad guys.

Employ Smart SEO Tactics

It pays to examine how you create and promote your educational content. To make your content more discoverable and rank higher in Google SERPs (search engine results pages), pay attention to the characteristics that make your site more authoritative. Enrich your content with the precise terms consumers are likely to use when they search for information in your category. Judicious use of the simplest phrases—not jargon—in your content will improve your visibility. Sprinkle your content with the basic questions (and simple answers) consumers might ask about cryptocurrency. You may grasp the holy grail: a rich snippet on Google. Rich snippets are more attractive to customers because they often contain thumbnail images, ratings, and other information. They occupy more, eye-catching real estate on SERPs.

While including internal links in your content makes it more discoverable in search and encourages website visitors to explore more of your site, take pains not to trap your customers in your own little world. Outbound links that explain, enhance, or confirm the information you provide to your visitors help build your Page Authority—one measure of how well your pages are likely to fare in search. The trick is to link to authoritative sites only and point those links to information that will answer the questions your customers are most likely to ask. Outbound links are a great way to educate your customers, too. You can probably name a bunch of highly authoritative sites in the investment realm: the Wall Street Journal, Motley Fool, and Business Insider come to mind. But you can find out how authoritative any site is. Your content contributors should make a practice of doing so before adding outbound links to their work.

And if you aren’t executing a backlink strategy, now’s the time to start. Forge strategic partnerships with non-competitors including financial bloggers and news sites. Write a free article or two or three per month in exchange for links back to your site. It will feel good. And backlinks are a key driver of Domain Authority, a predictive measure of how well your site will perform in search.

Build Your Online Reputation

Customers are avid researchers. And often, they’re more likely to trust what other customers say more than they trust what you say about yourself. Review sites and social media are where they’re talking to each other and it’s critically important to listen in on their conversations. According to a study by Clutch, nearly 90% of companies monitor their online reputations at least quarterly. But it pays to be more diligent and devote additional resources to social media management. You’ve heard the expression “bad news travels quickly”? Well, in the digital age, there’s a term for that. It’s called going viral. And that’s the last thing you want a bad review or negative story about your company to do.

Of course, managing your online reputation also gives you the opportunity to amplify good news. And the more news, the better. Actively invite customers to review your products. Respond to both positive and negative customer reviews and social media comments routinely. Being part of the conversation is critical. Customers want brands that listen to their thoughts—that’s one more way you can earn their trust.

Outside endorsements also count. You can actively seek accreditation by the Better Business Bureau for a fairly nominal fee. A company with 50 employees pays under $1000 to be audited and rated on the BBB website. If you meet the organization’s standards, you can proudly display the BBB logo on your website and elsewhere. Having a BBB presence gives you one more way to start conversations with your customers. If you have a Trustpilot profile, claim it. It costs nothing. If you don’t, again, you can pay a nominal fee to create one. With a paid account, Trustpilot will actively invite customers to rate you and provide other benefits. Again, monitoring Trustpilot reviews and responding to them religiously builds your credibility. That’s something you can automate. But while it does consume more resources, personal responses from your employees show customers that you care.

One Last Bit of Advice

It’s simple but not easy: be available. Customers worry about their investments. They have middle-of-the-night panic moments. Since cryptocurrency is among the more volatile assets you can own, you can expect customers to have a little more anxiety about their crypto portfolios than their 401Ks or stock portfolios. And managing cryptocurrency assets demands that investors develop new skills—particularly beginning investors. So providing multiple opportunities for customers to reach you is paramount.

In the digital age, it has become fashionable for fintech companies not to provide a customer support telephone number on their websites. Don’t be one of them. The best cryptocurrency trading platforms offer 24/7 telephone support, as well as live chat support. Email contact opportunities are important, too. But many customers are impatient and don’t want to wait for the typical 24 hours it takes to get an email response. So invest in your customer service team above all. Provide them the training they need to speak knowledgeably about your products. Make sure they’re a friendly bunch and take good care of them. A 2019 study by LinkedIn reports that 94% of employees would stick with their employers longer if the company invested in their education. With employee attrition reaching record rates, you’d be well-advised to do what it takes to keep your seasoned employees. The cost of attrition is high compared to the cost of employee training. Sales enablement technology can create a centralized, easy-to-access environment for training materials.

Need Help?

It’s a lot to manage. Perhaps you don’t have an in-house team dedicated to optimizing your digital marketing tactics. Or perhaps your team just needs some extra support. It might be time to engage a top-flight partner—one that specializes in SEO, content marketing, website design, and all of the digital marketing tools you’re using. Even better, find one with proven experience in the cryptocurrency universe. Learn how to leverage the unique benefits your brand offers across all digital touchpoints. You can start by scheduling a call with Flying V Group. We have a wealth of advice we can share in the time it takes to have a brief conversation. And don’t just take our word for it. Read what others have to say about the experience of working with us.

Author Bio:

Susan Doktor is a journalist, veteran marketing strategist, and principal at Branddoktor. Her contribution comes to us from Money.com, one of the most respected voices in personal finance for half a century.


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