In recent years, cryptocurrency has grown in popularity as a solid investment option. Bitcoin and other cryptocurrencies are increasing in value, despite some volatility, and non-fungible tokens (NFTs) are right behind them.
As more and more creators and businesses see applications for digital assets, the possibilities are virtually endless. To understand all the complexities of blockchain, you should consult a blockchain advisor.
What does this mean for the industry? Cryptocurrency investors are savvy and always on the lookout for new opportunities to generate returns. NFTs have a lot of advantages over traditional assets, and influencers seeking to promote their personal brands can see advantages in working with NFTs and similar platforms.
How Crypto and NFTs are Changing the World
Cryptocurrency and NFTs are new concepts compared to more traditional assets like stocks, bonds, and physical art. Though they may be too unknown for risk-averse investors, they're already having an impact on the world.
Here are some ways these new assets are altering the way we do business for the better:
1. Crypto Is Decentralizing the Economy.
Both crypto and NFTs are powered by blockchain, which is a decentralized, distributed database or ledger. This is in contrast to traditional finance, which is centralized and offers a more secure option. Because the blockchain requires verification from multiple parties, among other means of security, it's more difficult for hackers to target. Users also have more control and transparency with their assets, leading to greater opportunities for international trade and investment with lower risk. Soon, we will be assessing tokenized assets of real-world property including houses, bonds, loans, property titles, and more.
2. Crypto Is Increasing Transparency.
One of the greatest advantages of decentralization is increased transparency, allowing both investors and businesses to conduct transactions with more confidence. For investors, this ensures that the assets are genuine and the companies they're investing in are legitimate. For businesses, transparency allows them to build trust with customers by being more open about operations. Blockchain activity allows users to see who and what is being transacted on.
3. Crypto Is Reducing Costs.
Cryptocurrencies and NFTs help businesses save money. With no middleman involved in the transaction, businesses aren't inundated with exorbitant fees like they would be with traditional financial institutions. This includes the settlement of goods and services. A good example is the SWIFT financial system which will soon be disrupted by blockchain technology.
It also helps with the time for processing a transaction. Crypto and NFT transactions don't require a lot of paperwork and verification, which can dramatically increase the processing or approval times. All of that is handled quickly using the blockchain.
Why Working with Crypto and NFT Influencers Is a Smart Marketing Strategy
The crypto and NFT industries are continuing to grow, as are the influencers in the space. Success with both crypto and NFTs relies on the community that's built around it, which often requires an influential voice to get the word out.
There are numerous ways for creators to share their projects and build anticipation, but working with influencers to nurture a community is a key factor in getting exposure quickly. Here's why:
Influencers Engage New Crypto Audiences & Targeted NFT Niches
Influencers in any industry have the benefit of an aligned but new audience. They can promote brands and products to audiences that are interested but may not be aware of the options. These audiences are also more engaged since they follow and trust the influencer for endorsements and recommendations already. This is far superior to using traditional advertising, which doesn't connect as effectively with younger audiences.
When an influencer shares content, there's a good possibility that the audience will be interested in learning more about it.
Influencers Can Grow Your Web3 Social Media Following
Influencers build their brand on social media, and they can do the same with the brand they endorse. Typically, the reach of influencers can extend well beyond their own followers, including the followers of people who see and react to the content.
With a prominent influencer behind your project, you can reach a much larger audience and position your project as the must-have crypto or NFT.
Influencers Build Trust & Credibility in New Crypto & NFT Projects
Influencers got to where they are by building trust and credibility with their audiences. In this respect, they're similar to having an endorsement from a friend or family member. Their followers take their word on brands, products, and services because they don't let them down.
The same goes for your project. If an influencer recommends your crypto or NFT project, their followers are more likely to be interested in it and check it out than if they saw it in an ad or your own content.
Influencers Improve SEO Rankings for Valuable Web3 Keywords
Influencer marketing has a big impact on SEO. When an influencer links to the website from a blog or social media, it improves your site's authority with Google. Because authority is a significant factor in ranking, you can earn more traffic and a higher ranking in the search engine results pages. Search makes it easy for people to “buy bitcoin”, ask “what are gaming tokens?”, discover “new NFT projects”, and more. Companies need to take advantage of low-cost SEO keywords now.
These are just a few of the benefits of working with an influencer for your crypto or NFT project. If you want to get your message out into the market quickly, consider partnering with a prominent crypto and NFT influencer.
How to Find Success with Crypto & NFT Influencer Marketing
Clearly, influencers are a great asset with crypto and NFT marketing. If you want the most successful campaign possible, here are some tips to get the most out of your influencer partnerships and pick & choose who you want to work with.
Work With Influencers Who Have Earned Respect and Loyalty
Trust is everything with influencers. When you're searching for potential influencer partnerships, look for influencers who have dedicated followers with a lot of engagement. You can check the influencer's engagement rate, the quality of their content, and how long they've been active.
Remember, bigger isn't always better. Micro-influencers often have small but incredibly dedicated audiences that are more likely to consider their recommendations. Pay closer attention to the audience engagement, rather than the numbers.
Find Social Media Influencers with More Followers
Followers aren't everything, but they can give you insight into how popular the influencer is. As mentioned, you don't want to ignore micro-influencers, but you also don't want an influencer who hasn't exceeded 100 followers, either.
Influencers with large audiences have more people to share your message and brand with, getting you more bang for your buck. Try to strike a balance between a good-sized audience with the dedication that you're looking for.
Make Sure Your Influencers Understand Your Brand & Blockchain Details
Some brands look for influencers with the biggest names, not necessarily the right fit for the brand. Even if an influencer is a celebrity with a lot of clouts, that doesn't mean that the audience will be interested in a crypto or NFT project just because they promote it.
Look for influencers in your industry that can accurately share your message and promote your product effectively. Brief your influencers on what you do, your brand's mission, and the values that are important to you. Be sure to answer any questions they have to ensure they truly understand what you do and what you stand for.
Use Influencer Marketing as a Marketing Tool
When working with influencers, follow the “Rule of Seven”. This states that a customer needs to see a message an average of seven times before they take action on it. It's not enough for them to see an ad or content once or twice.
Keep this in mind as you work with influencers and negotiate the terms of the agreement. Just a few posts aren't enough to get traction for your message. Ideally, work with multiple influencers to get broad reach across multiple audiences. This increases the chances of success for your campaign and puts your brand in front of more of your ideal customers.
There is a fine line between not enough and too much, however. While a few posts may fly under the radar, bombarding your audience with constant messages from all directions will be a turn off. Mix things up, keep the content fresh, and try to follow the Rule of Seven with your content planning.
Set Relevant Web3 KPI Goals and Track Marketing Campaign Success
No marketing campaign should be without goals. What do you want to accomplish with your influencer marketing campaign? And more importantly, how will you know if you're on track for success if you don't know what success looks like?
When you're setting goals, consider industry benchmarks. Your goals should be appropriate – neither too easy nor too challenging. Both will set you up for failure.
Your marketing campaign needs clear, defined, and time-limited goals that you can track and measure. Throughout the campaign, track metrics like website traffic, engagement, reach, blockchain wallet signups, and conversions. This data will provide insights into what's working and what isn't, so you can tweak campaigns to get better results.
Hire Crypto & NFT Influencer Marketers
Crypto, NFTs, and influencer marketing are all relatively new, especially when it comes to influencer marketing for the crypto industry. It's steadily growing in popularity, however, and more and more businesses are seeing the value of crypto and NFT projects. If you haven't begun to use influencers for your crypto or NFT marketing, now is the best time to start. With the tips above, you can find the ideal influencer to make sure your next project campaign is a huge success.
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