The world of crypto and blockchain is gathering momentum at a rapid rate, and the number of startups looking to utilise the burgeoning technology is only increasing.
Initial Coin Offerings (ICO) for startups have gained popularity to the point where they now exceed venture funding. This has provided ambitious entrepreneurs with a new opportunity in getting an idea off the ground. Today, anyone in the world could feasibly kickstart a startup via the use of a crowdsale.
The online cryptocurrency marketplace has extended way beyond its flagship Bitcoin currency. With thousands of altcoins in circulation, the world of crypto has evolved to bring new opportunities to companies that don’t even have a foundation in finance. More altcoins are cropping up as prospective investment opportunities on a daily basis.
The coming years will bring more refined applications of cryptocurrencies and ICOs, and the ever-enhancing technology could yet become a revolutionary factor in startup funding around the world - regardless of the relative interest that each startup hails from.
The decentralised nature of blockchain technology could foster more trustworthy content management systems and social media networks, as well as disruptive online media organisations and advertising opportunities.
Despite their promise, ICOs aren’t powerful enough to turn a business idea into a money-spinning reality all on its own. 90% of crypto startups still fail, and this is typically down to a breakdown in converting a concept into a fully functioning product or a fundamental failure in marketing the company.
One of the most pertinent issues that crypto startups face is that the staff that are initially hired or involved in the formation of the business typically hail from technical or academic backgrounds, with very few possessing a demonstrable understanding of marketing.
Fortunately, the world of cryptocurrencies and ICOs, in particular, are highly popular at this moment in time. So startups can intelligently grow into their marketplace by utilising marketing techniques that are designed to tap into the widespread interest in the exciting world of crypto:
The great thing about tapping into target audiences who may be interested in your ICO or fintech startup is that they’re almost always going to be technologically literate enough to have some form of presence on social media.
It’s no secret that Facebook and Instagram ads are heavily undervalued for the level of interest it generates. While it’s possible to advertise on Google Ads and YouTube, there isn’t as much value to be found based on the levels of engagement that they attract.
Paid advertising on social networks like Facebook and Instagram simply require videos or banners to be produced before being displayed to your chosen audience. The great thing about this form of advertising is that it’s possible to effectively retarget users who have already displayed an interest in cryptocurrencies or fintech - this helps to ensure that your ads are only shown to users who are likely to click onto your site.
Platforms like AdRoll can be a good alternative to standard retargeting options offered by Facebook, Twitter and Google Ads.
Planning press releases
Press releases are something of a lost art in modern marketing. However, the effort taken to create and distribute releases can really pay dividends when picked up.
Fortunately, due to how rapidly the world of crypto is evolving, there are now countless cryptocurrency websites, agencies and exchanges that are perpetually looking out for fresh content and new stories to drive more traffic onto their own pages.
By turning your ICO or fintech startup into a compelling story and an exciting opportunity for prospective investors, it’s possible to gain significant levels of traction online.
Even better is that having a press release picked up by one of the aforementioned publishers can guarantee that your endeavour will gain invaluable exposure in front of an ideal audience which will perfectly match your project’s target market.
Writing a press release can be a little bit tricky. The content must be eye-catching, accurate and engaging enough to be picked up. Fortunately, there are plenty of effective tutorials available online. Just remember to avoid following any pre-existing advice verbatim, and look to add your own unique twists onto your content. Individualism can stand out in this regard.
Fundamentally, the best way of ensuring that you run a successful marketing campaign is through constantly monitoring your performance.
For instance, startups can use Google Analytics to track performance and inbound traffic.
Measuring the quality of this incoming traffic is also crucial. If you don’t want to do this manually, tools like Finteza can be a good option to automate it.
Monitoring your progress is an important way of ensuring that your money is being spent in the right places. For example, if you’ve split your advertising budgets between Facebook and Instagram campaigns, but are seeing higher volumes of traffic arriving from Instagram, it could be worth investing more and revising the amount of spending taking place on Facebook.
Analytics platforms can also help to detoxify your pages. For example, if your press release has been picked up by a scamming website that’s decided to link to your pages, it can hurt your ranking among Google search results pages. But with marketing analytics, it’s possible to discover this link and remove it accordingly.
The crypto landscape has evolved into a prosperous one for many startups. But the 21st Century gold rush has claimed many victims along the way. By dedicating some attention towards your approach to marketing, you could give your ICO or fintech startup the best chance possible of prospering amid the crypto revolution.
All views and opinions expressed in this article are the opinions of the author and not FXStreet. Trading cryptocurrencies or related products involves risk. This is not an endorsement to invest in or trade any of the cryptocurrencies, stocks or companies mentioned in this article.