Crypto influencer marketing is all the rage nowadays. Why is this trend so popular? Simple. There are over 20,000 functioning cryptocurrencies!
In a saturated market, earning an edge with audiences is essential to rise above the noise. While unique project features are important, apt marketing strategies are vital too.
Influencer marketing (of which crypto influencer marketing is a subset) is an increasingly popular trend in advertising. Revenue numbers have matured from $1.7B in 2016 to $13.8B in 2021, a staggering 711% increase in 5 years. Data suggests influencer marketing is here to stay for good.
Continue reading to gain crystal-clear clarity on what crypto influencer marketing means and how it can skyrocket projects. Learn how to match influencers with a target audience, plan innovative content marketing strategies, and leverage winning tactics to boost growth.
What is Crypto Influencer Marketing?
Crypto influencer marketing involves promoting products or services in the Web3 domain, such as tokens, wallets, or exchanges, through an influential personality. The goal is to match projects with a known, respectable face.
Crypto influencers post promotional content for a project in exchange for a fee
When a project is relatively unknown, gaining leads is tough. Crypto influencers reduce this burden. They use their platform to promote projects within an active fan base. Voila! Project visibility improves, leads increase, and user adoption rises.
Most new cryptocurrency projects go under the radar. But one with Tom Cruise as its face? That will grab eyeballs across the world! The right influencer can make all the difference.
However, before finding this person, we must understand the product! Let us work through this with a fun hypothetical.
KYC - Know Your Crypto
What is your crypto product? How does it improve the Web3 experience? What is its USP? Who is your target audience?
Before deciding on an influencer, any project must satisfactorily answer these questions.
You have built a fitness-oriented Play-To-Earn project on the Ethereum blockchain. It is named HUSTLE and hosts the HU$ token. Users can get fitter in a Web3 community while earning tokens for completing real-world exercises.
These two sentences answer most questions:
- The crypto product is a fitness-first, Play-To-Earn Web3 project.
- Users improve their health and happiness by being part of a fitness community.
- USP? The more you exercise, the more tokens you earn!
- Your TG would be a mix of Web3 enthusiasts, including unfit people who want to get fit and fitness experts.
We now have a crisp product understanding. Fantastic.
Let the search for the right influencer begin!
Choosing The Right Influencer - Hugh Jackman VS Warren Buffet
Would you go to Hugh Jackman or Warren Buffet for investing advice? Most would (hopefully) opt for the latter. But why exactly is that?
Over the years, the world has seen that Warren knows how to invest. His company Berkshire Hathaway has a market cap of $674.69B. Based on hard facts, we have collectively decided Warren holds domain expertise in investing.
On the other hand, the world knows Hugh Jackman as an actor. A theater school aspirant might seek his advice, but the Wolverine is not known for being a practical investor.
Why else would we prefer Warren? There are many public YouTube videos where the investor talks about unsuccessful ventures and missed opportunities. The ability to admit mistakes shows authenticity.
Lastly, Warren walks the talk. He shares and repeats investing principles that have built his own legacy. Warren also endorses investments; his daily Coca-Cola is the stuff of legend. He literally puts his money where his mouth is! Trust is added to the billionaire appeal.
Warren Buffet is not a modern-day influencer (that would be quite the sight). But he is very close to one. His words influence global investors. His opinions are powerful enough to change your investment strategy.
Through Warren, we have actually arrived at three core tenets of selecting the right influencers!
- Domain Expertise
- Authenticity
- Trust
There is no such thing as the best influencer, only the right influencer. We live in a world where content is king. But reputation precedes content, especially in a volatile crypto market. Entertainment means zilch if the three tenets are not honored.
Carefully differentiate between short-term hype and long-term class. Recall the three tenets while conducting thorough background checks on your influencer!
But there is a small problem here. These are generic traits that apply to most professional environments. How do we strike the precise tone? To understand this, we will continue with our HUSTLE example.
It is non-negotiable that they must possess the three core tenets. Keeping those aside, let us unpack this hypothetical person:
- The influencer must be a reputed fitness expert.
- Their core values must include inclusion, discipline, and personal growth.
- They must (at least) have a massive YouTube and Twitter following.
- They must demonstrate an aptitude for the Web3 ecosystem through their content.
Content and Channels
After these steps, the fun part of influencer marketing comes into play – content! What kind of content will the influencer create? How can we make it digestible for any audience? Which channels will they post it on? How will it drive interest in HUSTLE?
Marketing teams work with influencers to achieve creative content consensus. The influencer marketing lifecycle can be time-consuming. A crypto marketing agency like Altorise can swiftly:
- Conduct influencer research and outreach
- Develop project-oriented content and market campaigns
- Assist long-term community growth strategies
- Create attractive pitch decks to garner interest from potential investors
For HUSTLE, let us experiment with a simple content calendar.
After detailed analysis, the marketing team locks on YouTube and Twitter as two powerful crypto marketing platforms for HUSTLE. HUSTLE will leverage the influencer fan base.
| Channel | Types | Content |
|---|---|---|
| YouTube | YouTube Shorts 1-Minute Clips for a Series Long-Form Content YouTube Live |
|
| Daily Interactive Posts Twitter Threads Twitter Spaces Short Clips |
|
Data will tell us what works and what does not; strategies can adjust accordingly.
While these are ideas for gradual community building, influencers can be, well, influential for specific campaigns – an Initial Coin Offering (ICO) or other such events.
And with that, we wrap up crypto influencer marketing! This trailblazing marketing technique can seriously amplify your next crypto project.
Note that influencers are a cog in the overall marketing machine. Without a banger website, memorable visual branding, and a host of result-oriented promotion tools, isolated influencer marketing will fall flat. Sounds like a lot?
If you seek an experienced, end-to-end marketing team with earned crypto stripes, look no further than Altorise.
