By now, you probably know what a splash influencer marketing has made in Web2. But did you know influencer marketing can be just as beneficial in the Web3 space? Crypto and NFT brands already cashing in on influencer marketing strategies are ahead of the curve. Why not join them?
Crypto influencer marketing is just that — influencer marketing campaigns tailored specially to the crypto space. When done well, it can bring in the big bucks.
Benefits of Influencer Marketing for Crypto
If you’re a brand running a cryptocurrency project, chances are you can benefit from influencer marketing. Crypto is anything but traditional, so it makes sense to veer from traditional marketing strategy. Influencer marketing for crypto allows you to niche down to your specific target audience in an intentional, cost-effective way. Some benefits of crypto influencer marketing include:
- Increased brand awareness
- Authentic engagement with niche audiences
- Establishing credibility in the crypto space
- Enhancing trust with consumers
- Cost-effective campaigns with brag-worthy ROI
Is Crypto Influencer Marketing Profitable?
Influencer marketing is famously cost-effective when compared to traditional marketing. That remains true in the cryptocurrency space. Depending on the scope of your campaign and the audience size of your influencers, you can run a successful crypto marketing campaign at nearly any budget.
In general, brands generate $6.50 in revenue for every $1 spent on influencer marketing. And the market is only growing. According to Statista, the influencer marketing industry is valued at 21.1 billion dollars today in 2023.
How to Find Crypto Influencers
The first step to finding the right crypto influencers is to hone in on the appropriate channels. Unlike typical influencer marketing, your crypto audience may be more likely to frequent Reddit, Twitter, or Discord. Other big players in the crypto space include Youtube, Medium, and Telegram. That’s not to say you should skimp on the more popular social platforms like Instagram, Facebook, and TikTok. We always support a cross-functional approach to influencer marketing. But it’s important to hone in on where your target audience scrolls.
Once you’ve established your desired channels, it’s time to find influencers. Look for influencers who create content relevant to your brand, project, and campaign. The best influencer partnerships are built on an alignment of values. Because the crypto space can get a bad rap for being scammy, it’s important to choose influencers who are credible and have a respected reputation in the space. You can look at their experience, previous collaborations, and reception from followers to determine an influencer’s credibility.
Example from a Crypto Influencer
Here’s an example of influencer marketing for a crypto brand that looks a little different from what we typically see of influencer posts. Crypto influencer Kevin Mcoin, who runs Crypto Club on Youtube, posted this video plugging the crypto project Pokerfi.
Unlike typical influencer posts, we never see Kevin’s face in the video. Instead, we hear his voice, a trusted, credible source in the crypto space, explaining the benefits and features of this project.
Cash in on Crypto Influencer Marketing
The best influencer marketing stays fresh and keeps up with the times. For your brand, that may mean dipping into the world of cryptocurrency. If you’d like to learn more about how to integrate crypto into your influencer marketing, schedule a strategy call with one of our experts today.
About This Author
Ariana Newhouse | B2B Writer
I am a freelance writer and comedian based in Los Angeles, and while making people laugh is my jam, it’s not always the company brand. So, I strive to make people feel something. My writing philosophy is collaborative, empathetic, and humanistic. At the end of the day, no matter the message, there are real people on both ends of the process.