Cryptocurrency and its affiliate ventures such as blockchain have gained more attention than ever. This decentralized, digital form of currency is now being used as a way to buy and sell goods or services securely or invested into as a potential asset similar to stocks or precious metals. As of January 2021, there are already more than 100 million crypto users around the world, and Investing.com reports a total of more than 6,600 cryptocurrencies in circulation. In an increasingly saturated market, cryptocurrency and blockchain businesses would have to find a way to distinguish their brand from the rest, to avoid being seen as “yet another” coin or business, or worse, “just a scam.” They would have to prove themselves to be worthy of investment that brings something to the table others do not.
As cryptocurrency and blockchain are digital in nature, most of their marketing strategies are done online, such as email and content marketing, media relations, paid promotions on social media, and pay-per-click services (PPC). Thought leadership marketing, a subset of content marketing, has already been adopted by many crypto businesses for its contributions on establishing their brands’ credibility and audience trust.
Here are three reasons why thought leadership marketing should be a mainstay in an aspiring crypto/blockchain business’s marketing strategies:
1. People are still unfamiliar with crypto/blockchain
A report from Cardify on February 2021 shows that out of a survey of 750 crypto investors, 33.5% have little to no knowledge of what to do when it comes to cryptocurrency investment. While people know of crypto and the possible opportunities that come with it, they know little of its actual mechanics or how to strategize their investments for optimal gains. This is where thought leadership comes in. Thought leadership first and foremost is educational, and by creating thought leadership content, you open the gates for more people to enter the world of crypto. That means potential users, investors and long-term clients for your brand.
More than 400,000 crypto scams have been created in 2020, and they are predicted to increase up to 75% in the current year. As the number of scams increases, so does the need to prove your legitimacy and ensure audience trust. Thought leadership positions yourself both as an authority and supportive party, and people are more likely to trust and subscribe to your brand if they see that the ones managing it are experts who know their stuff and are willing to help novices.
2. You gain an edge over competitors through exposure
Thought leadership marketing also offers the potential to generate more visibility for your brand, especially if your content is SEO-optimized. A confused buyer Googles crypto or blockchain to learn more about it, and clicks the link to your educational content straight into your website and brand. The best part is that, when your thought leadership is hosted on your blog or website, it stays there permanently, making it a passive and cost-free way of marketing your brand, as opposed to other methods such as paid promotions or pay-per-click which require money and are only up for a limited amount of time.
A thought leadership blog managed by Kaleido, an enterprise blockchain platform
Apart from beginners, you’d also want to get the eye of intermediate and veteran investors well-versed in the scene. This especially applies to crypto-related businesses such as blockchain, crypto wallets, crypto exchange services, crypto payment gateways, and many more, where clients are usually more experienced and looking for services that can aid their investment efforts. If you are just starting out, you’d need investors to fund your project through ICOs, STOs and IEOs, and you’d need a combination of both visibility and credibility to secure their trust, which a thought leadership marketing strategy excels in.
Lastly, high-quality thought leadership content can get you in the radar of cryptocurrency thought leaders, who are well-known for their expertise and influence in the world of crypto. The crypto community is still a rather closed one, and once you’ve proven yourself, you can get the opportunity to learn more from them and improve more on your content and practices. It’s even possible to score deals, promotional offers and even partnerships if you play the right cards. Connections are important for any business to prosper, and in an industry where unpredictability is the norm, you’d want to associate yourself with people who have ridden these tides before.
3. You can make your mark on cryptocurrency and blockchain’s future
The crypto venture is still full of untapped potential, and many innovators and thought leaders continue to analyze the trend and make headway for further improvements in the industry. In contributing to the discourse, you also contribute to making the crypto venture more convenient, accessible and profitable. For instance, Vamshi Vangapally, the founder of crypto tax calculator BearTax, developed his product after his research discovered the need for an easier method to calculate taxes on cryptocurrency trades. The NFT game Axie Infinity has accumulated a massive playerbase owing to its interesting game format and ability to earn even with a limited knowledge of crypto.
Axie Infinity gameplay. Image from DigiParadise
Your efforts in thought leadership can even expand on the possibilities of crypto and where it can be used. Taiwanese legislator Jason Hsu is currently advocating for blockchain to be adopted in many of Taiwan’s government functions such as health, education and justice. Big, famous institutions and companies such as Tesla and AMC have already started investing and accepting payments with cryptocurrency.
Thought leadership marketing thrives best in an environment where things are uncertain yet hold plenty of promise. Cryptocurrency and blockchain businesses find themselves in a unique opportunity where financial giants have not yet monopolized the market and the consumer base is inexperienced yet eager. It is best to seize the opportunity and adopt thought leadership to help your audience, your brand, and the future of crypto.
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Visual by: Russel Sastrillo