There are way more crypto and blockchain startups than there were ten years ago and distributed ledger tech is still one of the hottest trends in finance, business and e-commerce. Besides that, there is an increasing number of ICOs and coins entering the crypto world, all of these making it difficult for any new coins to stand out. This is why crypto marketing is necessary. It helps boards generate demand for they crypto. By definition, a crypto marketing agency is an agency that helps startups in the crypto world gain the attention of their buyers.
Today, venture capitalists are looking for digital currency startups to invest their monies in as they try to diversify their portfolios, something that presents a tremendous potential for growth to the blockchain world. There are more than 10 000 digital currencies in the world today, all of them fighting for the same buyers. In 2020, the global crypto market size was at $1.49 billion. Researchers estimate that it will get to $4.94 billion in less than ten years. Part of the job description for the agency is to provide a good marketing strategy for ICOs before promoting them. Agencies offer services like email marketing, press release writing, affiliate marketing, crypto SEO and others.
Advantages of using an agency
Agencies have many benefits to lend to ICOs and crypto businesses. They create aggressive and intelligent marketing communication, use influencers and leverage timely communication to promote projects so that they receive as much attention as possible. An agency will certainly save you money and time. You may end up paying about $142 000 per year to get one, but that’s significantly less than if you did the job yourself or hired an in-house marketing manager. The agency has a whole team of professionals all proficient in different marketing activities meaning they bring more expertise to the table.
An agency can also help you to target some specific groups. They understand the customer base and the industry which makes them the best people to amp your marketing efforts. Crypto agencies know the kind of effort they need to apply to reach a certain group of buyers. They also provide an added advantage – ability to reach top publications on your behalf and sell your brand. Anyone who has started a crypto business will tell you what a boost it is to be featured in a top publication and many agencies have networks that allow them to collaborate with top blockchain reporters and publications. They help you to put your brand in the eyes of a wider audience than you may have been able to reach on your own.
Finally, crypto marketing agencies have subject experts that they work with, who they avail to you once you contact them. Remember that at the beginning of your startup, you probably do not have enough resources to higher a full-time marketing team. Working with an agency gives you access to experts that you may not be able to afford yet, allowing you to benefit from many years of relevant expertise. These experts, of course, are people who are up to date with the current marketing trends which will give you an edge over your competitors. You can, for example, make fast changes to your PPC, SEO and other ad strategies to match buyer behavior. With all these benefits, one wonders how to choose the best marketing agency to work with. Here are some tips:
Choosing the best marketing agency for you
The number of years a business has been operational matter, but they are not the only thing to look for in an agency. Look at the portfolio of the agency to see if at all and how many blockchain companies they have promoted successfully before. You want an agency with experience. If there are no blockchain companies in their portfolio, that agency may not be suited for your needs.
Investigate their expertise
Part of the reason you are hiring an agency is to outsource skills that you do not have in-house. This is why you need to analyze how much marketing expertise the agency has. If you are not sure how to do this, find case studies they have written and read them to get an idea of what they can do. How well did they solve the problem they identified with their campaign? What strategies did they use?
Check their coverage in the media and their reputation
It is challenging to do an effective campaign without media coverage. As a crypto business, you need the media to attract more customers. A top agency should have many top-tier platforms that they can leverage on your behalf. This will help you connect with a different customer base and new partners. While at it, find out how the agency you are considered is known in the market. Use sites like Clutch or Google to check this. You can also look at how other people talk about the agency on social media. You want an agency with solid customer reviews.
Once you have done your due diligence, ask the agencies you are considering questions that will give you insight into their competence and their fitness for the job. Find out what strategies they expect to use on your project. What significant goals have they achieved as an agency? Which KPIs do they use? How do they measure success?
When all is said and done, you will still need to make a choice. Trust your intuition about your options after you have done due diligence. You can also consider other factors like the agency’s pricing model and what that will cost you in the end. It is not a good idea, though, to put all the weight of the decision on the charges. You may end up going with the cheaper option only to get services that do not match your needs. Alternatively, you may choose an expensive service, assuming quality because of the high costs, only to get a service you could have gotten at a cheaper rate. The rule of thumb is; there is not best agency, only the best agency for your needs.