The cryptocurrency industry is set to explode in the next few years, and key people are working hard to facilitate the mass integration of this new technology and its benefits into the world. Within ten or so years, the tremendous innovation and information that has been created are already amazing.
Marketing and advertising play a big role in initializing the perception, especially of a new product or service is to stir awareness. This is achieved by providing information about the problem, the opportunity, and the solution.
This guide will show you the main reasons as to why marketing and information are critical right now to the crypto industry.
1. To Create Awareness of Cryptocurrency Concepts
Cryptocurrency and blockchain technology centers on decentralization, a new concept that will revolutionize every industry. This is evident in the ongoing financial revolution brought about by Bitcoin and various other altcoins that present unique values for the society.
People who are aware, want others to be aware too, and they have embarked on worldwide collaborative projects that will enable people globally to get on board.
These include developers and focused on infrastructure and applications. These enthusiasts are information disseminators and investors, educators who inform people on critical aspects as well as facilitators who innovate tailored solutions to bridge information gaps.
Marketing and advertising are fantastic ways of getting information about cryptocurrencies products, services, and opportunities to the target audience with the right tailoring and delivery.
2. Present the Value of Crypto as a New Financial System
"Knowledge is power" is a high-value phrase that was coined by Scholars centuries ago, and it's derived from having access to information, and not just any information, but the right kind. It is an old trade secret that even products and services with tremendous value can fail because people are not aware that they exist.
Cryptocurrencies are ushering in decentralized finance, an inclusive system that bypasses the need to cooperate banking and level the playing field for everyone to take part in the global economy.
This is being achieved by replacing third parties with automated transactions that enable people to transact, send and receive money directly and instantly on a peer-to-peer network.
The biggest challenge right now is to educate people about how the system works in order to create trust, as some of the terms and concepts seem alien, especially to people who are used to traditional banking.
There are a few people who view volatility is the crypto industry as a bad thing due to experience during financial crises. Still, Bitcoin has been responsible for making multiple millionaires, nevertheless.
So the second role of marketing and advertising is to catch the attention of even the most unlikely investors to explore its potential. For example, the Bitcoin community once rewarded Peter Schiff, a renowned gold investor and a big critic of Bitcoin, with some BTC to try and change his negative perspective of BTC.
3. Attracting Investors and Ecosystem Developers, Which Expands Use Cases
Majority of the early crypto adopters constitute the younger generation of tech-savvy people who have for a long time felt that the current financial system has no place for them.
While this can be argued to be accurate, crypto adoption by the younger generation is also compounded by the fact technology is a big part of their lives.
However, bankers and creditors are always rigid to invest in new technologies that haven't been tested first. So crypto developers have to be creative and present their blockchain projects in a way that shows such investors it holds value for them too as well as explore new ways of raising capital.
Even today, bankers know that the percentage of unbanked people around the world represent an untapped wealth reserve, but it is costly to reach them using established banking models. So if through marketing and advertising, the crypto-verse can show them how to do this cheaply, it might result in not only investors but more crypto crusaders.
4. Creation of Wealth
Cryptocurrencies have their own market, and they have done a great job of embracing and mirroring fiat currencies in the traditional markets. However, the crypto market, which is mainly influenced by Bitcoin's price movement is an uncorrelated asset.
This means that the crypto market movement is influenced by internal factors that have nothing to do with the traditional market. Therefore, the cryptoverse has created a vast database of information and indicators that analysts can use to navigate the market and make profits. This includes news, analysis, innovations and tips to help both beginners and experts to trade wisely.
Many entrepreneurs have been born from this venture by creating crypto news websites, podcasts, assets monitors, exchanges, blockchain developer ecosystems as well as one-stop shops for all things crypto.
For instance, information websites like CoinMarketCap list all the different types of tokens and their market values. Others offer descriptions and critical analysis of Crypto coins and the strength of their use cases.
An excellent example of this is Crypto Adventure, a one-stop-shop for crypto matters presented by crypto enthusiasts and experts. This site is one of many such sites that are dependable sources of new crypto investment opportunities. Such trust fosters a growing community of wealth creation.
Consequently, the cryptocurrency industry is a very incentive-based system, and projects launch their platforms using reward tokens mostly through Airdrops. When a project picks and becomes successful, people who hold large amounts of tokens have endless opportunities to create substantial wealth from initial investments.
As a final thought, it is clear that currently, the cryptocurrency industry is the one side that is doing a lot to bridge the gap between its technology and the traditional markets, which have remained partially rigid. This has inspired the tokenization of many projects that give average investors a fair chance and opens up investment opportunities to a global pool of investors.
In the crypto spectrum, the language of marketing and advertisements is unique as it is directed at a community of decided followers of the crypto gospel who understand what is going on. Therefore, marketers from outside need to understand their demographics in order to get through to them. On the other hand, the crypto community is increasingly doing a good job to try and market crypto concepts to the outside world, and they are slowly gaining.