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How to Create a Successful Crypto Influencer Marketing Strategy
As always, there is no one route to success, but these guides can help you create a winning strategy:
Start with an Effective Campaign Message
Everything begins with the brand or the project. While the influencers bring you to the consumers, what they will say comes from you. Be clear about the message you want the influencers to promote, whether it’s a shiny new project or a new foundation.
Connect with the Right Influencers
Now that you’ve defined what the influencers will say, it’s time to identify the most convincing people who can present the message in the most authentic way. Be specific with your influencer selection criteria and consider points such as…
- Audience Demographics. Do they speak to a more experienced audience or those who are interested in learning more about crypto? How does this affect your social media marketing strategy?
- Engagement Rate. Do their followers often react to their posts? Do they receive quality responses? Is it similar to the kind of response your brand or project is looking for?
- Relevance to Brand/Project Niche. Are they a convincing ambassador for your new project, product, or tech?
Right now, it is important to emphasize that collaborating with the Web3 audience is preferred. The crypto audience is well-versed in wallet operations and exchanges, unlike the Web2 audience, which is less educated. If a project has a large budget, it can combine Web3 influencers with some Web2 influencers, especially if the project is not overly complex and is aimed at mass adoption. In this case, Web2 influencers can adapt the information for a less knowledgeable audience.
These approaches are especially suitable for meme tokens and NFT projects that have already gained popularity. In such cases, additional NFT influencers, even local celebrities, can be engaged by signing ambassador agreements or at least posting several posts on social media. This means the influencer will talk about the project not just once or twice, but regularly.
Set Campaign Metrics for Success
The best way to know if your campaign is successful is to identify specific goals. This varies depending on your campaign, but common success indicators include engagement rates, click-through rates, or conversion metrics.
Keep Up with Crypto Trends
Emerging tech like AI, machine learning, and AR/VR are gaining popularity. Could they influence your crypto project or any possible influencer content? These new trends allow you to explore and be more creative with the kind of content you come up with.
How to Avoid Common Pitfalls in Collaboration with Crypto Influencers
A crucial and foundational element for any Web3 project is building a strong community. This community, composed of Web3 users interested in token speculation or profit, serves as the backbone for the initial development of the project. Establishing this community is essential to the success of any Web3 venture.
Security, safety, and credibility are all key elements to forming this community. However, with such an unpredictable platform, issues like scams, market manipulation, and non-compliance are common challenges. Here’s how you can avoid common mistakes in crypto influencer marketing campaigns:
- Never skip the background check. Conducting due diligence is a must before partnering with crypto KOLs. Examine not just their current reputation but also their historical track record and collaborations.
- Study regulatory compliance. There are global and local financial regulations that the crypto industry must adhere to. It’s imperative for brands and influencers to be aware and abide by these rules, as these are put in place to protect the community from scams.
- Work with trusted influencers. One of the best ways to know an influencer is legit is if they are backed by a trusted agency. The agency can vouch for them and the work they do, saving you from potential headaches and scandals.
Reasons You Should Hire a Crypto Influencer Marketing Agency
Working with a crypto influencer marketing agency will help free up your time and to-do list. You can entrust a bulk of the tasks to them, like taking care of influencer research, monitoring, and influencer management. Here’s how you can benefit from working with them:
- Advanced Influencer Software
They have a vast database of influencers who they can match to your campaign based on pre-determined filters, like goals, demographics, niches, and more.
- Streamlined Workflow
Agencies can cover everything from influencer outreach, matching them to specific campaigns, and sending out briefs to setting deadlines, monitoring posts, and more.
- Campaign Results That Drive Success
Crypto influencer marketing agencies have access to tools and software that can break down your campaign success into measurable, quantifiable, and actionable data. This is infinitely useful in assessing the strengths of each campaign, as well as identifying areas for growth.
