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Overcoming Challenges of Cryptocurrency Marketing and Advertising
There has been a lot of bad blood when it comes to cryptocurrency, ICOs, and the like. A few bad actors have led to widespread mistrust of the entire sector, and advertising giants like Google and Facebook have reacted predictably – by banning ads for cryptocurrency and related products on their platforms. This has led many in the space to scramble for new ideas about how to get the word out about their products, which has in turn led to some really interesting and inventive ways to market cryptocurrency.
Air drops are probably one of the newest and coolest ways that marketers have found to market their cryptocurrencies. If you have an active wallet with cryptocurrency in it, there’s a chance you could end up with an unexpected deposit. Why are they giving away free money? To raise awareness that they even exist. There are new cryptocurrencies coming out all the time, and most people have only heard of Bitcoin and very few people have heard of Altcoin, Litecoin, Ripple, or Monero, so what are the chances consumers will hear about your new cryptocurrency now that ads have been banned on the biggest advertising platforms? Spending that money just giving away coins makes as much sense as anything else.
So far Google and Facebook have banned ads for cryptocurrency and related products and services, and LinkedIn and Amazon have followed suit. Snapchat is banning ICO advertisements, and there is talk that Twitter will be jumping on the “ban” wagon sooner rather than later. Snapchat still allows ads for cryptocurrencies, however, and Microsoft has yet to issue bans of any kind. But all is not lost for cryptocurrency marketers.
Building a traditional social media following is still a great way to connect with potential customers. Content marketing is always going to give you an edge over traditional ad and media buys because of the authenticity factor, and it’s important to build those authentic relationships in a space that is still relatively new and majorly untrusted by the public. Nevertheless, there are still many traditional media and ad buying options available to cryptocurrency marketers. Billboards, television, and radio advertising can be a great way to get your message to the public.
But for the most part it makes sense to keep the marketing of digital currency in the digital space. There are online publications with massive followings that can help spread the word of new cryptocurrencies and ICOs as well as podcasts and even influencer marketing posts. Learn more about marketing cryptocurrency from this infographic.
This article was originally published in ValueWalk.