Cryptocurrency is still a relatively new industry in the eyes of the general public. Most people know what Bitcoin is due to its massive price rise to $19,783.06 in December of 2017, but nowhere near as many would be able to tell you the names of many other altcoins, even big names like Litecoin and Ethereum.
In order to increase the visibility of the industry, as well as allow smaller altcoins to compete with Bitcoin, companies should deploy key marketing strategies. As has been the case with many young industries looking to bring in a larger audience, companies turn to well-established brands in other industries that have found success with set marketing strategies.
Offering a way for people to try it out for free
It’s one of the most tried and tested marketing strategies of all-time, but there’s no denying that offering a way for people to obtain and use a service for free can be very successful when deployed well. It has proven to be very successful in fellow all-digital industries, particularly in iGaming.
With iGaming, all play costs money; generally speaking, this is also the case with cryptocurrency, with the ability to have and use cryptocurrency intrinsically being tied to people exchanging their fiat money. As such, promotions like the party on with a $500 welcome package from Party Casino NJ are sought-out by gamers.
The bonus funds that come with such promotions allow players to get a real, hands-on experience with the service, making it much more likely that they’ll then put their money into the service if they like what they find. There is a similar marketing strategy being deployed by some businesses promoting their blockchain products using a reverse-form of the technique called ‘Airdropping.’ This technique sees news blockchain developers giving their existing investors free coins, as opposed to offering free coins to newcomers to increase the audience.
Embrace social media to its full potential
It was found that 80 percent of Fortune 500 companies had an active Twitter presence, with one of the very best at utilizing social media platforms being Starbucks. The coffeehouse chain has an almighty presence on Twitter, Facebook, and Instagram, using videos and gifs, making custom images, while also responding to Tweets and keeping up with current events.
Companies looking to launch an ICO or have a cryptocurrency in circulation should seek to refer people to their social media pages continually. From there, they can quickly and easily address their whole audience, build trust, and then offer new ways for followers to interact with the brand, such as by getting more coins during promotional periods.
Making the most of the incredibly useful social media platforms as well as offering ongoing ways for people to try out the cryptocurrency can work as strong marketing strategies if committed to entirely by a crypto company.