With Bitcoin fluctuations dominating the headlines, ICOs raising funds for innovative projects and blockchain technology changing the face of financial transactions, it’s clear that the once-niche crypto concept is becoming more and more mainstream.
The world of digital trading is evolving at a rapid rate – but how does this effect marketing and why is it important to keep an eye on global developments and trends? Niki Nikolaou, Director of Business and Charlotte Day, Creative Director from Contentworks – a content agency delivering content marketing solutions for the finance, tech and lifestyle sectors – talk cryptocurrency content.
How do you feel about blockchain?
Actually, I’m quite passionate about blockchain. I’m not a techie to say I fully understand it and all its implications, but I get enough to see it as a real game-changer.
Anything that’s relatively new can seem daunting – even intimidating, but it’s important to embrace change particularly in the financial sector which tends to advance at a rapid rate. Look at the history of marketing and communication.
Without going all the way back to wall paintings or town criers, just look at how far offline marketing with, for example, print ads has evolved with the internet and social media. Blockchain and the concept of the immutable ledger is set to change the course of how we live and do business in the same way the printing press and the internet have.
It will permeate across all industries not just the finance sector and will significantly revolutionise the digital marketing world. This is also due to the fact that it cuts out the middleperson and enables you to talk directly to your target audience without getting a third party involved.
Of course, knowing what blockchain is can be difficult to get your head around – but that’s where top-quality content marketing comes into play. The written word as well as videos, infographics and other types of sharable content can convey complicated concepts simply.
Don’t shy away from new ideas such as blockchain technology. Instead, educate yourself and understand the ins and outs of the more difficult terminology. When you feel comfortable, develop a strategy to pass your knowledge on clearly and concisely.
What are the content marketing challenges?
Many people think that writing content is easy, but there are lots of things to consider – especially when talking about cryptocurrencies, ICOs, crypto wallets, blockchain and other related ideas. Not only do you have to convey a relatively new and different concept in an easy-to-read way but you have to also consider your target audience – do they know what a crypto token is? Have they traded in cryptocurrencies before?
On top of all that, you have to put compliance at the forefront of all finance-related content. The new MiFID II regulations are formidable for brokers and should never be ignored. As the crypto world can change rapidly, you also have to move fast and work with tight deadlines. All content and video scripts need to be created within a rigid timescale. It’s not a walk in the park, but it’s what we do and we love it.
Know who you are talking to. While experts in blockchain technology won’t need a rundown of crypto terminology, newbie investors might.
Always be compliant and keep up-to-date with rules and regulations. The smallest error could land you with a huge fine – or worse.
Stay on top of crypto and financial news. The markets change rapidly and you don’t want to churn out inaccurate information.
What are the mistakes people are making?
We see a lot of mistakes being made but with a little thought and consideration they’re usually easy to iron out. Where shall we start? Well, creating complicated, confused and inconsistent marketing material has to be one of the most common errors made by ICO strategists. The vocabulary associated with digital currencies can be confusing so it’s important to be as clear and straightforward as possible.
Crypto and ICO campaigns also need to be interesting, different and creative. If they’re not they won’t stand out from the crowd and will fail to drum up the engagement needed to make the token or the start-up project a success. Remember, when it comes to an ICO – you want people to invest.
Therefore, they need to connect with your idea and understand what’s in it for them. They need to have faith in your team and know each and every one of your objectives. And your product, technology and tokenisation need to be well explained. Another key area is regulation. Though it may be counter to the initial reasoning behind this tech, regulation is coming. So, especially if you’re token is a security, you need to have a plan in place for that.
Follow the marketing initiatives of other ICOs – learn from their mistakes and get tips on what’s working.
What are your top content marketing tips for crypto brands?
No two crypto marketing campaigns are the same, but if you want to rock content for crypto, you need to know what’s what from the off. A vague understanding of the most difficult terminology simply won’t do – after all, if you’re not 100% with what something means, how will you talk cryptocurrencies with your target audience?
You also need to keep up with the latest news to ensure you’re not rehashing old or out-of-date information. If you can become the go-to gurus for breaking news and updates you should be rewarded with loyal followers.
The crypto industry is rife with scams and if your ICO is legitimate then you really need to prove it. Good content marketing combined with a solid advisory structure can certainly reassure audiences and foster trust.
Know your industry inside out as this will greatly improve your marketing efforts. Foster trust in potential investors by showing the worth of your ICO.
What don’t you do?
Let community management fall to pieces. A dedicated team is needed to answer difficult and challenging questions. Only those with an in-depth understanding of the workings of a product should be allowed to craft responses or be active on sites like Telegram. Sometimes engagement is needed 24/7, so careful planning is a must.
What’s next for cryptocurrencies?
Cryptocurrencies are still largely unregulated although sites like Facebook are cracking down on online marketing which includes buzzwords such as crypto, ICOs, crypto wallets and such like. There’s the potential for many more regulations to come into force.
We also believe that scam ICOs will fall away leaving solid and reliable companies behind. As with all new trends, it takes a while for businesses to find their feet but content marketing efforts will certainly increase in order to attract investors and maintain engagement.
If you need help with crypto or ICO campaigns, contact the Contentworks team today.