How are the concepts of advertising and cryptocurrencies related and how may these concepts affect one another? If you are online and are not the proud owner of an adblocker it doesn’t take much time to realize the recent advertising focus on the crypto market.
Cryptocurrencies such as the well-known Bitcoin increased their value in an exponential way creating a lot of success cases, especially among people who are tech savvy.
Initial Coin Offers
ICO is an acronym/buzzword which is being extremely advertised. Initial Coin Offerings are opportunities for investors to buy tokens before a specific cryptocurrency is launched in the market where the value of the coin will reflect the amount of money invested. According to Techworld, there were already 6 ICO’s which raised $100 million or more, one of them reaching $236 million.
Everywhere we look at there are success cases of people who invested little money and some years later were rich. Buying coins with low current value and expect them to grow is something that attracts both investors and the general public who look forward to making money in an easy way even if a big percentage of the buyers doesn’t quite understand what they are investing in. Most ICOs that post some type of use of proceeds, tend to have a relatively high marketing budget.
There are other kinds of marketing strategies currently used to attract new customers such as influencer marketing. For example, the famous boxer Floyd Mayweather promoted 3 ICO’s in the past year and was not the only one to take advantage of this opportunity. The actual emerging state of this market gives way to many different marketing opportunities.
Retargeting is being highly used to focus on people who are curious about the cryptomarket or bought a specific coin, for example. Social media feeds are full of investment opportunities and platforms to easily become a crypto investor. This is the main reason why some platforms have the possibility to charge big fees and still have a huge number of users.
Cryptocurrencies are trendy and marketing specialists and content producers take advantage of it. The ability to use this kind of payment method, the acceptance of it by big brands and success cases are some examples of topics which are being regularly searched for, alongside with questions such as “What is Bitcoin?”.
In a market as volatile as the crypto market, it’s really hard to make consistent predictions but one thing is for sure, while this kind of currencies is as trendy as today there are countless possibilities to be taken into consideration by marketers.