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Your DeFi or crypto project needs to showcase itself within the DeFi industry, which can’t be done without the investment in DeFi marketing strategies. We’ve already mentioned a few steps you could take to kick-start your DeFi/ crypto project in the Pre-Launch Stage, but as Henry Ford said, “Stopping advertising to save money is like stopping your watch to save time.” Your DeFi marketing campaign is not something you can simply stop, so we’ve outlined a few other DeFi/ crypto ad strategies to not only get you started, but to keep you going.
The blockchain, DeFi, and crypto coins sphere has seen booming growth over the last few years, bringing lightning-quick market changes and ever-increasing competition. Once the pandemic hit, the DeFi industry took a giant leap forward, and being online became a necessity.
As we know, the decentralized finance (DeFi) and crypto movements aim to replace traditional financial institutions, in all ways, shapes, means, and forms. The merging of ‘old-fashioned’ banking services with blockchain technology will define the future of the financial ecosystem, regardless of where you come from or who you are. Through a series of smart DeFi contracts and digital crypto coins, you are in complete control of your assets, without any interference from third parties. Now, to the tools!
Your token is worthless if there is no demand for it and this is where centralised and decentralised (Dapps) crypto exchanges come in. The Dapps play an incremental part in DeFi project’s marketing as they offer access not only to liquidity, but a huge audience base, that is notoriously all about decentralized finance. Therefore, consider listing on Uniswap, Pancakeswap or other (subject to the blockchain you run) as a pillar milestone on the road to global DeFi success. But, make sure you don’t ease on the other crypto marketing tools either, as it is all about multi-channel approach.
The time has come, and your DeFi token gets listed on either a centralized or decentralized exchange (dApp). Congrats! But still, there is some work to do. First, there is the build up. It is a phase when your token enters the market and needs some trading volume to support the price activity as well as liquidity, which, to be fair, is primary to its success. This is where your trading rewards program should come in. Trading rewards are usually set to reward the users that trade the most volume within a given period of time and act as a foundation of your tokens growth. Talk to the exchange you partner with to arrange such an event for you. Otherwise, there is nothing that stops you from making your own and getting that extra traffic from it.
Boost your DeFi startup appeal with trading incentives!
DeFi projects are known for their liquidity pools and filling one can also be incentivised. Most DeFi players reward early bird pool participants with additional tokens. However, it is a strategy that can turn the marketing side of things against you. To industry pros, giving out free tokens stipulates that the team intentionally decreases the token’s value. And this is bad news, regardless of how you look at it. Instead, a good DeFi marketing strategy implies rewarding users with fiat currency, because it is very likely that the winners will reinvest the prize money back into the token. Win win, right?
In Part I, we spoke about Display ads being a gateway to promoting your DeFi project globally, and in return, receiving real lead generations and stats. A simple, visual-based, and eye-catching photo or image promoting your DeFi/ crypto project is all you need. The purpose of Display ads is to grab users’ attention over the DeFi marketing competition, through:
Part I discussed CPM (Cost Per Thousand), as being a more appropriate DeFi marketing strategy at the pre-launch stage. Once you have built brand awareness, acquired leads, and an initial following, then you’ll be better equipped to narrow down your audience and use a more specific approach to your Display ads – Cost Per Click (CPC). You can read our comparison of CPC and CPM models
With CPC, you concentrate on conversions and target people based on the parameters you have selected. Define how many times an individual sees your ads per day and prompt action. This is where Bitmedia can help you achieve conversions, since it is exactly what we have been up to as of the early days of DeFi. Already backed by top publishers within the DeFi and crypto industry, our platform acts like a one stop shop for DeFi marketing…
“Crypto market has considerably evolved over the last years and triggered changes in financial instruments and in approaches to privacy. We as a company see our mission in helping the industry grow by equipping crypto businesses with an easy-to-use and affordable tool for attracting new audiences”
- Matvey Diadkov, CEO of Bitmedia
Both time and resources are precious to your DeFi campaign, and you need to be in the right place, at the right time, in front of the right people. So perhaps it’s best to also use the right help.
If you want to get your DeFi/ crypto project seen by other DeFi pioneers, you’ll find various platforms, such as DeFiPulse, or Staking Rewards, that follow new DeFi projects. They’ve become popular with DeFi users, who can easily access information and offers about interesting DeFi/ crypto projects, so it would be great getting your DeFi project onto as many of these DeFi tracker platforms as possible! Also, make sure you get listed on less popular resources than Coinmarketcap, like Coinpaprika and many more.
SEO. The SEO and Content marketing of your DeFi or crypto coins project is often highly underestimated. Ensuring that your DeFi Display ads send potential subscribers to a valid, up-to-date Landing Page and website is vital to your DeFi campaign.
It’s crucial to stay on top of the DeFi trends. Take a look at the DeFi and crypto industry leaders, and you’re bound to note that their DeFi/ crypto websites and content are SEO-optimised. If you’re in the DeFi industry for the long run, then you need to ensure yours is too.
Content. Knowledge is king here, and the more you arm yourself with it, the better you can optimize your DeFi and crypto content, making it more relevant. You have a selection of content formats you could choose from to promote your DeFi/ crypto project across social media or DeFi community platforms, like video tutorials and infographics, webinars, or informative blogs.
Targeting the right DeFi clients, educating them about changes to your DeFi/ crypto project, and keeping them informed, will solidify the trust of your subscribers. Listen to what your DeFi audience is telling you, and ensure there is value in the content you create. Direct your DeFi or crypto message to solve what they voice.
“If the cryptocurrency market overall, or a digital asset is solving a problem, it’s going to drive some value”
Brad Garlinghouse (CEO of Ripple)
SMM. Once you have your content in place and posted, it is the social media that takes centre stage. Consider every article that you create, as a new, great reason to reach out to the new users, spark interest and involve the community. Share this content on DeFi related subreddits, Medium publications, Facebook groups and Telegram channels as each article must have a chance not only to find its reader, but also get reshared by others. This then becomes a free opportunity to market your DeFi startup, communicate your purpose and win new audience.
Last but not least, keep in mind that social media platforms like Reddit and LinkedIn also offer a shortcut to quite a large share of prospective audiences interested in DeFi.
When interested parties catch wind of an up-and-coming DeFi project or crypto coin, what’s one of the first things they do? Some serious Googling. So potential followers may appreciate finding decentralized finance articles and mentions from reputable media sources about you.
“A good PR story is infinitely more effective than a front-page ad”
– Richard Branson
Information such as new crypto partnerships, milestone achievements, and listings on exchanges should all be included in your DeFi project’s online material. Everything you do, or say, is public relations. Ideally, the mentions appear on Tier 1 or Tier 2 media, and hence, you may want to partner up with agencies that have long-standing relationships with large DeFi and crypto media corporations.
Having your DeFi project mentioned on external resources will not only help your SEO, but holds significant importance when building credibility, brand awareness, and a loyal following. It isn’t a necessity to focus on formal press releases, but consider working with publications that will delve into your project’s purpose, concept, benefits, and economy. Keep in mind that it isn’t just about the number of mass links and mentions, but again, the quality of the audience. You could have reached a million viewers, but it’s all wasted if your target audience isn’t correct.
Brand awareness happens due to great exposure, and Display ads, SEO, and influencer marketing all contribute to this. However, adding a little ‘extra’ will go a long way, undoubtedly increasing interest in your DeFi project. Affiliate programs and referrals give you the opportunity to offer Sign-Up discounts or some funds to start trading with, a great invitation bonus to your DeFi project. You can generate referral links and share them through your social media accounts, where anyone who joins also becomes a referrer. They earn rewards or a small profit, whilst you grow your community. Everybody wins!
In the first guide to DeFi marketing, we mentioned Influencers and Key Opinion Leaders (KOL) as being a great strategy to solidify your DeFi project’s brand recognition. Collaborating with quality DeFi or crypto influencers who have a strong, enthusiastic following, such as Ivan on Tech, 99Bitcoins and Finematics, could boost your own bottom line. Whether you source influencers through agencies or organically, dedicate time to do your research and develop a schedule that works in line with your other DeFi project’s marketing strategies.
Being already covered in the first part of our guide on Defi Marketing, partnerships as a growth tool become no less important in the launch stage either. By this time your project already carries some brand weight in terms of an active community and market capital. Now, look for projects that can add value to your product, not only in terms of a new user base, but make your market offering better too. Perhaps, listen to what your community suggests to get a hint or two. A good partnership will help your DeFi project make waves in at least two of the partnering companies’ communities and become a good PR motive. Finally, partnerships are made to improve the product, and this can attract a much greater audience base than any other DeFi marketing tool.
Blockchain forums and events used to be a great way to get to know other players in the DeFi industry and expand in terms of networking. Whilst most events were slashed back in 2020, we begin to see these gatherings come back to life again. Don’t expect to find yourself another 1 million users by taking part in forums, but on the other hand, it is a great opportunity to find partners and nudge the brand awareness of your company a little higher. Here is the list of the biggest crypto conferences coming soon:
There’s no downside to growing your DeFi project’s mailing list through Landing Pages or Display ads, however, you need to ensure that you nurture these relationships consistently. Stay in touch, and share general messages, DeFi information, or offer deals or referral codes for new subscriptions. Relentless emails will drive away your DeFi followers, so be certain that the DeFi/ crypto content is engaging, interesting, personal and timed correctly. Mix it up, and pair it with social media marketing to create more impact and build rapport with both current, and potential members of your DeFi community.
DeFi marketing is an ongoing process. Once you get your DeFi/ crypto project off the ground, you’re going to want to send it to the moon – and keep it there! DeFi marketing strategies must be integrated into your DeFi/ crypto project from the very beginning if your aim is to be successful.
Research – Use DeFi marketing tools to understand your target audience, find out what communities they integrate with, forums they visit and with what and whom they engage.
Goals – Understand what you want your DeFi marketing strategy to achieve, for example, more subscribers.
Execution – Assess the strengths and weaknesses of various DeFi marketing strategies that would pair well with your research and your goals.
Optimization – Make it the best it could possibly be and assess the effectiveness of a resource or situation.
Analysis – Track your progress and results, and make consistent adjustments and improvements to your DeFi campaign wherever necessary.
DeFi marketing strategies are useful instruments that should be employed before and after the launch of your DeFi/ crypto project, and steadily maintained. Competition is fierce, and to stay on top, your DeFi campaign must be well-prepared and planned.
There’s a lot of DeFi marketing support out there, and you should definitely consider working with the most experienced in the DeFi and crypto field. The likes of Bitmedia offer a simple one-stop-shop which might be all you need, and if you want to get your foot in the DeFi door, you’ll want to start on the right one!
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