- Paid marketing
Paid marketing is a tried-and-true method for businesses of all kinds, and crypto projects are no different. Making sure your project has a good mix of social media marketing (SMM) through keyword-based marketing, and paid ads through pay-per-mille (PPM) or pay-per-click (PPC), will go a long way towards helping your project reach its target audience.
Twitter, YouTube, and Google Search are excellent places to use paid marketing for crypto projects because there is a large, passionate base of crypto enthusiasts on each platform. This increases the likelihood of conversion.
- Influencer marketing or PR
Influencer Marketing and PR is a modern marketing technique that was initially used by traditional businesses with intense caution. However, crypto projects were quick to catch up on this trend and went above and beyond.
Hiring a set of digital media influencers and sending across a slew of PR articles on popular publications can help you reach out to your prospective audience easily. However, you need to be careful in choosing the right PR vehicles and influencers that resonate with your brand, in order to be successful.
Chasing after influencers with the largest followings won’t do you any good if they’re either bots or in a completely different industry. Instead, focus on choosing the right influencers for your specific needs. Micro-influencers are excellent for getting your brand’s voice out there in smaller but highly active communities, and they’re also more affordable.
- Get additional funding
While it may sound counterintuitive, getting additional funding can actually help your project in two ways. First, if the funding comes from a reputable VC investor, it can generate a lot of buzz for your project and help create a positive reputation for your project. Second, you’ll be able to use the new funds to help pay for marketing efforts that can help your project reach a wider audience more easily.
Getting funding for your project doesn’t always have to come from investors. There are plenty of other sources out there like Web3 grants which can help support your project and also put it in good standing with other respected crypto projects. Hackathons are another great way to get funding and also put your project in the spotlight where it might gain some more attention from people who are interested in what you’re working on.
- Virtual marketing
Word of mouth is one of the best ways to attract new customers and business to your brand. But unless you give people a reason to talk about your brand, they probably won’t. That’s where guerilla marketing comes in. With its unique and innovative techniques, guerilla marketing generates hype for your project, which leads to better results. Because as they say, curiosity drives adoption. In addition to Twitter, people are present on other networks like Reddit. So capturing these people through innovative campaigns is a great way to boost your growth.
Creating a campaign that both sounds unique and has unbelievable value can generate a lot of buzzes, but it’s important to be careful not to dilute your brand value or inflate the circulating token supply, which would lead to a drop in value.
- Active User Base of community
It takes more than just a large community to make a project successful – it needs to be a tight-knit group of supporters that are actively engaged in bettering the ecosystem. Having a high number of fans for your product or service does help build reputation and success, but if those members are inactive, it could reflect negatively on your brand. Regardless of the size of your community, quality is more important than quantity when it comes to ensuring a project’s success.
Growing the community and driving the adoption of your product or service is key to easily scaling up and expanding your business. Increasing the number of active users of your product or service will help you grow and achieve success more quickly.
