Last Updated on March 24, 2022 by cryptocreed
Marketing is an essential element for the success of every business, whether it is in the crypto space or any other sector. Cryptocurrency exchange requires a concise strategy to bypass most of the hurdles of centralized systems. If done correctly, a well-strategized plan can increase users and emphasize the brand positioning in the global crypto market.
Even if crypto exchanges have the best underlying technology, without a systematic marketing plan to increase users’ exposure to the product, it could be all in vain. Thus, to create a thorough marketing plan, managers and crypto exchange owners need to act on marketing activities such as direct advertising, user interactivity, and improving product functionalities. Below we expand on the subsequent marketing activities and how they can be actioned out.
PR & Branding
The branding process is a two-step process that involves the higher management and third parties to conduct the implementation. First, branding and PR objectives need to be established before proceeding to create content. Additionally, management needs to use existing data to create a customer profile to help guide content creation.
A PR campaign is guided by data, entailing that companies need to conduct competitor research and user research through surveys to understand the market better. Content creation needs to be outsourced or set within the team to have specialists who can better tell a compelling, informative story. More importantly, SEO practices need to be implemented to create a Google-friendly landing page.
Promotion works better when there is a mix of organic and paid marketing efforts. Media buying is a process through which crypto exchanges can acquire leads and customers while also working on their brand awareness campaigns. Crypto exchanges need to use media outlets, including Telegram channels, to propagate news and PR articles about their exchange. Similarly, you can use influencers such as Youtubers, or crypto Twitter accounts to run paid PR campaigns.
To bypass the centralized blockage of marketing campaigns, crypto exchanges must focus on affiliate marketing alternatives to acquire new users. Moreover, native banner advertising helps acquire new leads that can be nurtured into new product users.
Working with clients
Platform users can be leveraged to help with marketing efforts by creating financial incentives in return for their participation. In addition, exchanges should design bounty programs by which participants can earn native tokens to propagate the crypto onto other channels, which helps with organic reach.
Improving your services
Lastly, improving the functionalities of your exchange improves users’ product perception. Add timely updates that match the user’s expectations, such as adding demanded deposit and withdrawal options. Implement ICO capabilities to increase the number of users on the platform. Lastly, add more trading options such as toolkits, new coins to diversify users’ trading options.
Investing in marketing efforts has a long-term effect on the success of your exchange and will directly impact your ROI and product profitability. Visit Soft-FX and ask our specialists about our marketing services.