Cryptocurrency marketing is changing everything
Throw conventional wisdom out the window because it no longer applies. Billion dollar companies are being created in a fraction of the time and connecting with customers in completely new ways. I know, I know. We’ve discussed other technologies on this blog but cryptocurrencies are controversial. Everyone is saying they it’s bubble, it’s speculative, or it’s the future of everything. We don’t want to jump into the ring and say who will win out or what tech is superior. However, we’ve noticed some very interesting trends on how the marketing landscape is changing for these types of businesses:
- Traditional channels don’t apply. There are crypto startups that go from nothing to a billion dollar valuation in a matter of months, something that took Facebook five years to do. They’re doing all of this on forums and through chat apps like Discord and Telegram. Some successful crypto start ups don’t even have websites!
- They’ve mastered the crowd. This generation of bootstrapping startups have created bounty programs where they award crypto coins to users who share their content online. They’re basically traditional referral programs streamlined for boosting web presence and coin adoption.
- Don’t worry if you don’t know what you’re talking about. Teen youtubers are gaining huge audiences by claiming to be experts in predicting the market. Mature markets reject voices from the inexperienced but, for some reason, crypto enthusiasts will listen to anyone with good ideas.
Real Life Example
We met with one of the worlds largest crypto trading Telegram channels recently. They are a group of creative young people that have office space in downtown Chicago where they run a crypto community. They have paid subscribers to their community to hear their takes on the market. After only a few months they are completely sustainable. They STILL have no website. They’ve done zero traditional marketing. Their approach to cryptocurrency marketing was being a professional brand established by networking with influencers on Twitter.
Cryptocurrencies are the first use-case for blockchain technology and they won’t be the last. You don’t need to go out and buy into bitcoin or anything but it’s good to see what’s happening in marketing. There are startups aimed at completely disrupting the traditional advertising model by eliminating third-parties like Google or Facebook. What would happen to your marketing mix if they succeed?
We’ve helped several crypto startups with their marketing. If you want to discuss marketing services, let us know!