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Why Cryptocurrency is Not a Marketing Niche

Note: this article deviates from the SEO articles I normally write about but I believe the issue is important enough to post on my agency blog.

Adweek recently wrote a FUD piece on why you shouldn’t waste your time marketing to the cryptocurrency niche. This is an article to dispel the myths they are promoting.

Bitcoin is not a Product to Sell

Bitcoin will affect every industry which deals with trust, information systems, and finances. Yes, even marketing will find uses for cryptocurrencies and the tech which it has been developed on. This is not a new “thing,” it is a left-field solution to some of the fundamental problems of our modern age. The “cryptocurrency niche” is much larger than any one particular idea or marketing opportunity.

bitcoin is not a product
Bitcoin will one day be looked at the same way we look at Wikipedia: A utility of access to information. Source: Flickr

Issues such as banking costs, property loss, accurate record keeping, and cybersecurity are tantamount to the stability of our society. If cryptocurrency was just a hot niche it might just be related to some fashion trend like the sexy jean shorts or a new material for athletic shoes. It’s just not in the same narrow industry framework, sorry.

Cryptocurrency is trying to replace cash systems in many instances. They got this right at least in the Adweek article. However, it’s unreasonable to talk about Bitcoin as a failed experiment just yet. Yes, it’s inconvenient and slow compared to using a credit card. But it’s neither credit nor is it a form of cash in its current incarnation; it is an exchange of value a lot like Gold or silver coins used to be.

That might sound silly but we used to accept the value of the USD because it was BACKED by Gold, not because the government said it was worth a certain amount in the marketplace. Bitcoin will eventually operate in the same manner. Not as cash but as a store of value that backs another coin exchanged for goods and services (which will replace cash).

Cryptocurrency Brand Awareness

The brand awareness of Bitcoin and other cryptocurrencies has been on the rise if you look at Google trends. To compare it to the brand recognition of Visa, you can see that it not only is growing exponentially, but it has bursts and retracements the same as its price patterns. As a toddler in terms of its existence compared to Visa, I’d say it’s had quite a run and its only at the beginning of its lifecycle. The end is nowhere near in sight.

Bad PR about Cryptocurrencies

The fluctuating value of Bitcoin does create some short-term risks in accepting it as a form of payment. This is undeniable.

But there are already merchant services which allow you to accept it and instantly sell it for fiat at a price which is both lower and more efficiently settled than credit card processors.

There are also ways of protecting the value of bitcoin already. The bitcoin futures market was in the news late last year. The reason? To allow larger market participants to hedge the value of their investments in Bitcoin. This is a traditional means of protecting real-world transactions. And in this case, it allows you to do the same in Bitcoin. This is exactly what airlines and logistics companies do every single day.

An Absurd Notion About Bitcoin
The volatility in Bitcoin is extreme but the Crude Oil market is comparably volatile and you don’t see the transportation industry trying to outlaw the Oil cash market, how absurd would that be!

Every day there is FUD about Bitcoin, even when the price rockets there are critics who find a way to paint the developments with as dark a brush as they can. So it shouldn’t be any surprise that the full issues are not reflected in the daily news and positive developments. Developments which are actually arising daily are left without much public conversation.

Pay attention in the next few weeks to the Lightning Network. This is an over the top technology (O.T.T.) which many experts say, to use a lazy analogy, will push Bitcoin into the Web 2.0 level and make cryptocurrencies exceptionally easy and cheap to integrate into your business plans.

Adweek, again, says that associating your business name with cryptocurrencies is somehow a reputation management risk. This is so short sighted its laughable. It is probably true that some sectors of the banking industry might think twice about advertising that they sell cryptocurrencies but even so, there are already banks starting to see the revenue generating opportunities. They will certainly come around and by the time they do, they’ll look like dinosaurs. Anyone remember this?

 

Partnering with a cryptocurrency for transactions is just one facet of opportunity in the space. There are also important considerations in integrating proof of stake, blockchain and trustless transactions which will both protect you and save your business enormous amounts of money.

Use Cryptocurrency to leverage your marketing strategy

Aligning yourself with the “cryptocurrency niche” right now might put you in the camp of a revolutionary or a dreamer who doesn’t understand “the way the world works.” But it’s only a matter of time before people start jumping in head first. This is what happened in the Marijuana industry as States panicked when they saw the tax revenues in Colorado. Look at Altria and equally dominant pharmaceutical companies. They are aggressively investing in marketing so that they can be known as “Pot-friendly.” This is more than likely to happen in a very similar manner with cryptocurrencies and the surrounding tech.

proudly run on blockchain

One day soon, pasting a banner on your website which says, “Proudly Run On Blockchain” will be the 2000s equivalent of “We Use Consumer Recycled Paper.” It will become a cliche.

If I can give one bit of free marketing advice in this article it’s this: Don’t get left behind. Start integrating a cryptocurrency marketing strategy into your business today.

Let me know what you think in the comments and if you have any needs to help optimize your brand for the cryptocurrency space, I am always available for a chat.

Crypto Marketing in 2018 [Infographic]

The rules in Cryptocurrency marketing strategies are not all that different from other forms of digital marketing. But there are a few things you need to pay attention to in developing your strategy.

 

What follows are the most important aspects of Crypto Marketing strategy in 2018.

Social Media is everything.

While the traditional outlets for social media like Facebook and Twitter are important in launching a brand in Crypto, there are additional channels which need to develop to gain the trust of the community. Creating active discussion related to your ICO or cryptocurrency product are perhaps the difference between life and death in the space. These include:

ICO investors actually check the social metrics of a coin before deciding if they want to buy into it. In this case, perception is not everything, it is the first and last thing which people are checking.

Recently, a compelling argument was made that investing in cryptocurrency is a rare situation where marketing the ico or token after you have invested makes for the opposite effect of being in a traditional early round investment situation. Unlike the normal angel investor situation, the more investors that come on board after you, the more likely you are to lose a percentage of your ownership. This isn’t the case in cryptocurrencies. More than any other reason, marketing in cryptocurrencies benefits everyone who believes in the product or token. This will naturally increase the value of the network or the token.

Consider the value of social media in cryptocurrency marketing and you’ll realize this is a unique and perhaps paradigm-shifting opportunity. And many crypto investors believe we are in the very nascent stages of mass adoption.

crypto user share by global region
The English speaking social media sphere has a huge opportunity. Source: Cambridge Judge Business School

Even more compelling for cryptomarketing campaigns is that the penetration rate in English speaking countries for crypto user breakdown by region is only 17% for English speaking countries! Consider how dependent English speaking user is on social media for their daily life and business opportunities and you’ll realize how indispensable social media followings are in your crypto marketing campaign.

 

Building an easy affiliate system for early adopters.

These days people do not just buy into a new technology, they become its spokesperson too. It’s a natural extension of their identity. You have to reward these users generously and consistently. An affiliate program which is easy to manage and pays out in your coin or in other cryptocurrencies which are liquid and lack controversy is an excellent way to spread your marketing message in the cryptocurrency market.

Perhaps the best use of this I have seen is Bitmex who pays out a very generous commission for the lifetime of the account. In addition, it pays out higher the more BTC the new client trades.

Issuing press releases in Crypto focused areas of the Web

Normally press releases are issued at traditional news outlets. They can barely be heard above the daily noise. But a well-positioned press release on sites like Coindesk or CoinTelegraph should give your marketing project a fighting chance. That’s, as long as it can pass the crypto bullshit detector test.

Blog regularly on popular sites.

Tech friendly blog platform Medium showing off their creativity.

The obvious winner here is Medium.com. Since the tech community openly embraced the platform, getting a post to go viral on their site has gotten easier and easier. Give a clap, send a clap. Share an article get an article shared. It’s simple. If your content sucks, you’ll get flamed but people will still share it. It’s a can’t lose scenario if you can blog regularly on crypto related topics so get going and go at it with considerable flair if you dare.

Make a splash in Bitcoin community forums

It’s important to build credibility in the long-standing traditional places like bitcointalk.org (the search function on this forum barely works) where enthusiasts dwell and share legitimate information. Without these communities, all the social networks and chat groups don’t have much info to trade on. Devote a consistently large amount of time to making sure your presence is felt there no matter how cumbersome the php styled forums can be on your marketing time investment.

Paid promotion for crypto projects

courtesy: steemit

With the cascading bans of crypto advertising on the main forms of paid promotion online these days, it’s going to require a bit more creativity than other forms of paid promotion in marketing. Fortunately, there are some really solid paid traffic channels available which accept crypto focused campaigns.

Embrace Crypto influencers who have a loyal following

This is at the bottom of the list for a reason. The majority of respectable influencers in the space do not openly advertise that a part of their reputation can be bought. In fact, the entire point of building a legitimate following in this part of the web is that they are unbuyable.

But the truth hurts. When the market starts to turn and the price of bitcoin is not making them overnight millionaires, they will begin to compromise on some of their values. Just have a gentle and persistent approach to making an offer to them. Don’t be too gaudy about the monetary aspect. Offer a mix of your own ICO and current well-favored coins in the market. Its the human nature of things, everyone really does have a price, even in the idealized crypto space.

In order to see your cryptocurrency marketing project launched successfully, you could lay this plan along with other basic SEO and marketing ideas on your own or you can talk to me about how we can cooperate. My ears and eyes are always open for a new crypto marketing opportunity. So, get in touch or leave a comment below. I would love to hear from you!

 

cryptocurrency business

Optimize Your Cryptocurrency Business

In the digital world today, every business needs visibility. Whether they are vying for your dental appointments, fixing your roof or convincing you that they hold the keys to the worlds financial future, exposure is the difference between success and failure.

In recent years, cryptocurrencies have secured their spot in the global market. Bitcoin, Ethereum, and other digital coins allow owners to earn and purchase the digital currency without a physical presence and bureaucratic procedures of a central authority or bank.

The uphill sale to the general public of Bitcoin and other crypto assets cannot be overemphasized as it has increased the need of SEO marketing for the cryptocurrency space. You could be thinking about ways by which you could optimize and maximize your gain spot through SEO. This article provides a guide details on how you could optimize your site for cryptocurrency business.

Sourcing the right content with the right keywords is as good as getting the freshest of news. People often get bored with the stale news. Hence, a swift way of driving the traffic back to your website on SEO business and ICO marketing is searching for the right keywords.

Some of the questions that should be well treated on your site or blog include:

  • Are there current Bitcoin news events worth blogging about?
  • Are there coins worth investing in besides Bitcoin?
  • Does mining play any role in your business?
  • Has Bitcoin value decreased in value and does that affect your bottom line?
  • What is the current Bitcoin price and does your business need to worry about it?

Try and search for these phrases and you might uncover some gems that you never knew existed. They might also be easier to rank as they are long tail keywords.

Getting quality pictures for your content will go a long way in driving people to your blog more than you think. People are more attracted to images. Let the content be brief and let sharp picture match the information you are giving your readers. Anyone who enjoys your post will refer and that way, you build massive traffic to your website.

Fresh Cryptocurrency SEO content 

You definitely don’t want to give your readers the same content to read every day. Fresh content is like early morning shower; it rejuvenates the reader and fuels their mind about ICO marketing and cryptocurrency world.

More than that, it also gives search engines more text to read which means more keyword matches and better ranking for your site. Let your content be strategic.

Always make sure keywords used in the texts are those that potential customers might use when searching for your business. For instance, let the reader who does not know about ICO marketing understand that it is a medium of crowdfunding centered on cryptocurrency for new startups.

Get the Help of an SEO Professional

Don’t underestimate the power of a professional. While you’re thinking of the right catchphrase to use, the tone of language, an SEO professional who knows both cryptocurrencies and the digital marketing space could relieve you of this duty and build for you the strength of traffic you want for your website.

If you have a cryptocurrency related marketing need, get in touch with me. I love crypto and I know SEO. Let’s discuss what I can do to make your business stronger online.