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As a decentralized currency, you’re often hard-pressed to find a centralized exchange that actively allows for the buying, selling, and trading of cryptocurrency.
That’s where crypto exchanges come in, with these DeFi platforms becoming the central driving factor of this currency. If you’re looking to launch your own exchange, you’ll likely need an effective crypto exchange market strategy.
Considering that there are currently over 600 different crypto exchanges, you’ll have to construct a flawless marketing campaign if you want to rise to the top. In this article, we’ll explain everything you should know about crypto exchange marketing, touching on:
- What crypto exchange marketing is
- Our top crypto exchange marketing tips
- The very best crypto exchange marketing PR Strategies
Let’s jump right into it!
What is Crypto Exchange Marketing?
Crypto exchange marketing is a subsection of blockchain PR, which seeks to bring media attention and new customers to a new exchange that has recently launched. Unlike other forms of marketing within this industry, crypto exchanges often require a much higher level of documentation
Customers that are looking for a new crypto exchange will care about a few things to a greater degree than other platforms. Typically, a customer is looking for:
- Low rates
- Great Security
- Tools for trading
- Convenient User interface
Due to the specific needs of a crypto exchange, crypto exchange marketing often focuses on these topics, demonstrating to the audience why they’re a great pick in these distinct categories. We’d recommend that when launching a campaign within this industry, you always focus on bringing these elements to the forefront of your advertisements.
Another factor within this niche to remember is that things may take longer than other campaign forms. This is due to the fact that there is fierce competition, with top crypto exchanges having a shared locked-in value of over $240 billion USD. With total values like that, it’s no wonder that other exchanges can pour so much money into their advertising.
To get ahead of these crypto giants, you need to take the slow and steady approach, demonstrating your value to your customers again and again.
Top Crypto Exchange Marketing Tips
When launching your own crypto exchange marketing campaign, there are a range of things to remember. These act as guiding ideas, helping you to hit the mark with your campaign and stay on track for success.
Here are our top three tips:
- Find Your Target Audience Through Awareness Campaigns
- SEO Comes First
- Humanize Your Brand
Let’s break these down further.
One of our main tips when constructing an awareness campaign is to ensure that you know exactly who you’re trying to market to. We don’t only mean demographically, with gender-ratio statistics and other human factors being common to find online. More than that, we recommend finding out exactly what your audience is looking for when it comes to valuing your crypto exchange.
As we mentioned earlier, some people may be more concerned about security, while others will simply be looking for the lowest rates possible. A good way to gauge which of your core pillars pulls in the most people is to actively measure every aspect of your campaign. By looking at the initial stage of research, you’ll be able to see which type of advertisement gets the most engagement.
From there, you can start to build out a general understanding of who is interacting with your brand and why. With this knowledge, you can then further target the groups that respond best to you. This is data-driven marketing, with Netflix and other huge corporations commonly using this approach.
Always start with awareness campaigns so that you can quickly hone in on the audience that will most benefit your brand.
SEO Comes First
Before you start to produce any content for your marketing campaign, you should always be sure that you know WHY you’re targeting certain content. This starts with keyword research, with the core metrics that you uncover helping you to create content that will have an impact on the Google Rankings.
If you’re looking for a free tool, then you can use Google Keyword Planner, which is one of the easiest ways of finding keywords related to your objectives. By typing in a word that’s related to your campaign, like “Crypto Exchange”, you’ll be able to see a whole selection of different words that are closely tied.
By finding words and phrases that have a low competition rating but a high search volume, you’ll be able to create content that goes further than ever before. You’ll be able to boost up the search engine results page rankings and ensure that as many people as possible see your brand.
Once you identify a few areas that you could rank well for, you’re then able to begin your content creation efforts. Not only will this content benefits your audience, providing them with a range of different topic articles, but it will also strategically boost up the rankings.
Two birds, one stone!
Humanize Your Brand During Your Crypto Exchange Marketing Campaign
In many industries, humanizing your brand is fairly easy. If you work in beauty, healthcare, or any human-facing service, you’ve already got that level of connection that you can use to create a bond with your customers. Within the world of finance, and especially decentralized finance, this is a little different.
We’d always recommend that when creating a crypto exchange marketing campaign, you do your best to come across as a brand, rather than just a faceless machine. One of the best ways of doing this within the world of Defi is to start an email newsletter for your subscribers.
Considering that 90% of users have an email, with almost all of these people actively checking their inbox, you’re able to deliver marketing directly to their door – so to speak. Another crypto exchange, Binance also does this incredibly well.
Every week, Binance sends out a short newsletter that summarizes some recent events in the world of cryptocurrency. By doing this, their readers get useful information, while the brand comes across as an actual company that’s working and interacting with its audience.
This level of humanity is often missing within crypto exchanges, and something you can definitely focus on to push you ahead of your competition.
Best Crypto Exchange Marketing and PR Strategies
Now you know some great general tips for launching your campaign, it’s time to move on to the best strategies. These tactics are ones that that we have used with our range of successful campaigns, with their integration into your marketing campaign helping to boost the chance that your platform becomes the next big thing.
We’ll touch on these five strategies:
- Working with Media Partners
- Event-Driven PR
- Focus on Utility
- Extensive Documentation
- Use A/B Testing
Let’s break these down further.
Work with Media Partners
Within the world of blockchain, transparency is king and trust is only rarely given. You’ll have to work hard to capture the belief of the masses, especially in an industry that’s become so jaded to scams over the years. One way of earning trust is through regular exposure; you need to get eyes on your brand as frequently as possible.
One way to do this is to work with media partners, reaching out to news outlets in the world of blockchain, and seeing if you can organize a guest post with them. By writing about news, including yourself in lists of top exchanges, or simply writing full feature posts, you’re able to get your name on as many outlets as possible.
If you’re worried about producing content, then turn to places like Upwork, where you can find a range of writers that will produce the content that you need. When it comes to media partners, quantity is incredibly important. You’re essentially trying to flood the internet with small mentions of your brand, boosting the chance that someone comes across you and finds your name.
As your familiarity builds, so will trust, which will lead to more consumers visiting and using your crypto platform in the future.
Another important part of crypto exchange marketing is event-driven PR. With large-scale platforms, public events allow people to see your brand, while also demonstrating that you are active within the blockchain community. Either running or sponsoring events will go a long way, ensuring that people start to recognize your brand.
A few events that you could turn to are:
- Hackathons – A public hackathon brings together large portions of the community. By sponsoring a hackathon, you’ll be able to benefit the community while gaining a lot of extended publicity.
- Tech Partnerships – As a crypto exchange, you’ll likely have a lot of different tech partnerships under your belt. By doing public announcements of your new connections, you can feature both brands at once, boosting your reach to cover both audiences at once.
If you have it in your budget, event-driven marketing is a wonderful way of boosting interaction with your brand. In fact, interaction from events rises from an average of 2% to nearly 35%, representing an increase of over 1,500%. This incredible rise can generate a range of leads for your business, helping to boost the success of your marketing campaign.
Focus on Utility
If you’re not launching a token alongside your exchange, then you can skip over this one.
As a smaller tip, if you’re looking to launch a native token with your exchange, then a core part of your crypto exchange marketing campaign should be demonstrating the utility of that token. A token without utility just looks like a money grab, meaning you should work hard to bring further functionality to the token.
A few different possibilities for your native token are:
- Providing reduced fees
- Acting as a governance token
- Providing a central swap pair
Extensive Documentation for your Crypto Exchange Marketing Campaign
As we stated earlier, customers within the world of crypto exchanges will likely be looking for a few select things. Whether it be security, control, access through a great user interface, or something completely different, you need to make sure that you have extensive documentation on your home site.
When constructing your website, be sure to display your main features with great clarity. Break down everything to the greatest extent possible, detailing the types of security you use, how it works, your fee structure, and everything else.
Circling back to the lack of trust within the blockchain community, ensuring transparent documentation is a great way of satisfying readers when they click on one of your marketing efforts. While your crypto exchange marketing may be perfect, if people come to your exchange and can’t find the documentation they’re looking for, they will likely click off.
Always provide as much documentation as possible, with accessible whitepapers leading the way.
Live A/B Testing
Part of running an effective marketing campaign is constantly tailoring your output. Be sure that when you launch a new advert, you launch several versions, A/B testing them against each other.
This can even extend back to your website, with effective UX leading to a 400% increase in conversion. To find out what ‘effective’ means for your business, you should turn to A/B testing and see what your customers respond to.
Always refine your campaigns. Even when things are working well – there can always be a more optimal approach or design. Testing and actively tracking your metrics is how you stay on top of this!
Final Thoughts On Crypto Exchange Marketing
As a relatively new marketing system, crypto exchange marketing campaigns are fairly difficult to pull off. With a range of different channels, PR managers inventing new tactics every day, and a high competition bar, they’re definitely not something that everyone can manage alone. That’s why we recommend that you work with an industry leader like GuerrillaBuzz.
With years of experience pulling off high-quality crypto exchange marketing and PR campaigns, we’re able to work with you to create a high-impact campaign. From covering social channels and content creation to guiding you through all of the best practices for this specific form of blockchain marketing, we’ll be there every step of the way.
Get in contact with GuerrillaBuzz today for a free consultation about your crypto exchange marketing campaign.