DEXes/CEXes are the soul and core of the crypto world. You can't deny that. And here's why: they were one of the first businesses in Web 3.0 with a sustainable business model. Meanwhile, 90% of other Web 3.0 businesses were hoping to earn a living by pumping tokens or regular capital raising.
Here's one more thought: sustainable business models require sustainable marketing with strict metrics and KPIs.
But how? - you may say. Well, we know exactly how. Are you ready to learn it?
Why Should Traders Leave Binance for Your Project?
The first thing you should understand is that the traders already work on certain exchanges they are comfortable with. And there is no reason to change it! Unless… you come up with efficient repositioning that will convince them to transition to your exchange.
Or you have a longer, but more noble way: you will work with a non-trader audience, educate them, and grow traders that will work on your exchange. By educating individuals who are new to cryptocurrency trading, you can nurture their interest and help them understand the potential benefits and risks involved.
This could involve creating educational resources such as blog articles, video tutorials, or even hosting webinars to explain the basics of cryptocurrency, blockchain technology, and the advantages of trading on your exchange.
One more way to convince traders is to ensure product logic. In other words, make your project different. Here are a few thoughts:
- Establish a system of bonuses, rewards, and draws to get a retail audience.
- Low commissions on certain trading pairs, and a possibility to trade unique assets.
The other strong points that can positively convince traders your project is worthy.
- Allow trading collectively in DAO
Allowing trading collectively in a DAO means that members or participants within the DAO can engage in the buying, selling, or exchanging of assets or tokens within the organization.
- Offer decentralization and security advantages.
Decentralization can enhance transparency, reduce the risk of corruption, and promote safety by allowing a broader range of participants to have a say. Security advantages are often a good reason to consider a new platform for traders.
Attract KOLs to the Affiliate Program
Good bloggers receive around 3 to 4 offers every week to collaborate on an affiliate program. So, you need to stand out and offer something compelling to catch their attention; many successful bloggers are already engaged with affiliate programs.
This means that you are entering a competitive space, and you need to find unique ways to attract their interest.
-
If you don't create a proper affiliate program, you will most likely miss a lot of opportunities to empower your project.
-
An affiliate program is an absolute must-have for your exchange, but learn first how other exchanges handle them.
Numerous bloggers receive offers that are based on fixed prices, meaning they are paid a set amount regardless of their performance. In such cases, your referral program offering a 30% commission might not be enticing enough for them;
Diversify your referral system:
-
Otherwise, you won’t be able to capture the interest of bloggers who receive fixed-price offers.
-
This way, bloggers have the flexibility to choose and can decline fixed-price offers if they prefer your commission-based program.
-
Customize your affiliate program to meet the needs and expectations of KOLs, you can increase your chances of attracting them to collaborate with your exchange.
What Are the Advantages of the Hybrid Collab Model?
-
It's much more engaging and intriguing than a standard referral system.
By incorporating fixed pricing alongside the referral aspect, you provide a unique proposition to KOLs, making it more appealing and enticing for them to collaborate with your brand.
-
Fixed pricing has a universal appeal.
People generally appreciate the certainty and stability that fixed payments provide. By offering fixed pricing as part of your hybrid model, you will more likely attract a larger pool of KOLs who are motivated by the assurance of a set payment.
-
The profitability of the collaboration depends on the results achieved by the bloggers.
This aspect adds a performance-based element to the hybrid model. Bloggers have the opportunity to earn additional income based on their effectiveness in driving results for your brand.
This incentivizes them to actively promote your project and can result in more impactful collaborations.
Launch Media Buying & PPC Campaign
Most of the social media platforms ban crypto advertising. So, if you want to ensure an efficient unit economy, you just have to find a person who will perform well because it's rather a question of a performer. You can also organize special trading events.
The best trading volume level can be achieved through special trading events. In such a way, you will unify the power of trading communities and provide them with the space to bring a larger
volume.
Ready to Get an Edge?
- Take Action!
Now that you've got all these fantastic reasons to woo bloggers away from Binance and get them trading on your exchange, it's time to take action! Involving influencers is one of the best ways to get the word out about your exchange. These social media experts have the power to spread the news far and wide, capturing the attention of their followers and turning them into loyal users.
- Get a Sidekick.
If you still need one more reason for cooperating with influencers, contact us, and we'll help. Not only can we assist you in attracting influencers, but also guide you through every single point we've discussed so far. From setting up an irresistible affiliate program to organizing epic trading events, we've got the know-how and expertise to make it happen.