Marketing is an extremely crucial component for any business. So much so that marketing shouldn’t be a part of your business, but a core aspect of it. It is marketing that helps you create demand, connections, build relationships, strengthen reputation, and talk to your target audience. For any business, marketing is a very crucial component. In fact, Marketing is not a part of a business. It is your marketing efficiency that ultimately decides how much value will a particular project generate, and how will it compete with others in the market.
In this article, we’ll walk you through everything you need to know about marketing your crypto exchange in order to extract the most value out of it. After all, there are so many exchanges today, so in order to be noticed, you need to amp up your marketing game.
But, before we get started with that, let’s understand a bit about crypto exchange platforms in layman terms. Because if you’re just starting off, it might be a head-scratcher to begin with.
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Marketing Plans for Cryptocurrency Exchange
We’re in the middle of rapid technological development. The world is digitizing with every beat. There’s no domain of operations that hasn’t been affected by the wonders of tech. In the economic sphere, cryptocurrencies are what is leading this technological adoption. Cryptocurrencies work as a medium of exchange and are underpinned by Blockchain technology.
Blockchain helps in recording, controlling, verifying, and securing all the cryptocurrency-related transactions that take place. A cryptocurrency exchange platform enables customers to exchange their cryptocurrencies for other digital/ fiat currencies.
As mentioned earlier, marketing is crucial for any business, and more so for cryptocurrency exchanges, as their demand in the market is only increasing with time. Hence, your marketing strategies should be unique and authentic in order to sustain and stand out from the existing competitors.
Now, before we flesh out a marketing strategy, or even talk about the various marketing activities that you should most definitely target, let’s look at the pre-requisites. This 3-step process is what we at Minddeft use before beginning any marketing campaigns or activities, and it has given good results so far:
- Identifying the target audience: The foremost thing to do before starting any marketing activity is understanding and identifying your customer base. Without an idea of where your audience lies, you’ll most probably be marketing into the void. Identifying the target audience can also be done during the development phase, but if not done then, then it’s utmost important to do it during the marketing stage.
- Surround yourself with advisors and mentors: The product that we’re marketing is a cryptocurrency exchange, so, you need to have a team of advisors and mentors who can guide and help you when needed. With their knowledge, experience, and perspective, you’ll be able to roll out wonderful marketing campaigns.
- Create the marketing plan: You need to have an elaborate marketing plan sketched out, which contains tasks, estimated results, and goals. Having a laid out plan will ensure that you’re taking the steps in the right direction.
With the three steps in place, let’s look at what all your marketing activities can encompass. This is a list of various activities you can do, and you need to find the perfect match of a few (or all) activities from here and use it for your cause.
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Activities to be included in your marketing campaign for Cryptocurrency Exchange:
Market research and analysis
Market research is extremely important to understand your competitors. That way, you know what to do, and more importantly, what NOT to do! By doing this, you will also be able to gauge the market you’re entering and understand if the solutions that you’re offering meet the requirements or not. Then, you’ll be able to fine tune your offerings accordingly.
Building marketing strategy
Once you have an idea of the market and your competition, the next part is building a comprehensive marketing strategy. The strategy should be robust enough to drive customers (both global and local) to your project. The marketing plan will create an identity and widen your scope among potential investors.
Content marketing is one of the most important activities as it helps explain in detail about the services, purpose, and benefits of your offerings. For best results, you can approach content marketing teams and explain your offerings to them, and then they’ll take care of the rest!
Social media marketing
Social media is where your audience is invariably present. Now, the onus is on you to figure out exactly WHICH platform is it that your customers use. For that, you need to perform due diligence, and you’ll be able to reach a wide range of customers around the world in no time. You can look to promote your exchange platform on different social media like Twitter, Reddit, Facebook, LinkedIn, and more. But the important thing is to research before beginning with any particular medium.
Public relations and media
There’s a constantly emerging demand for, and development of, crypto exchange platforms. For that reason, it’s important to have your name out in the media. So, there are public relations and media activities that can be performed to strengthen your business’ exposure throughout the globe and make it reach a greater number of audience and investors alike.
Influencer marketing is catching up like a wildfire. Even for the crypto community, there are numerous influencers who can help spread the word about your crypto exchange platform. The trick is to know them and connect to them. These influencers exist on all the platforms where your audience exists. The only thing you’ve got to do is leverage it!
When you’ve established your audience base, the next thing to do is keep them informed, and stay in touch with them. For that, and to upsell your exchange platform in your target audience, using emails to send regular newsletters is a well known and tried and tested tool. Our experts will implement strong and engaging email content to create a reputation among potential investors for your business.
Pay per click
Pay per click is a paid program wherein you can place advertisements on any website, and based on the number of clicks on that, the company needs to pay a sum to the host. This helps boost up the business and make more people aware of the services.
Bounty programs are also an integral part of an efficient marketing campaign. Bounty programs can help promote your business among potential investors, where they are assigned certain tasks and rewarded accordingly. This would encourage them to learn and invest in your project, which increases your profit and potential.
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As you can figure out by now, there is not one but multiple activities that go into a marketing campaign. The trick is to find what works for you, and for your customers, and then build on it. The task is, honestly, easier said than done, and that’s why there are experts to help you with marketing, while you focus on other important work.
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