Marketing is complex in itself, but it comes with even more unique challenges when your agency focuses on crypto and NFTs. In the last few years, we’ve seen massive market changes that shocked the entire financial system, and as a result, our agency quickly learned how to adapt. Our goal is to help clients with everything from token launches and community building to social media management and PR communications.
And although those challenges have been daunting at times, we wouldn’t have it any other way. We love working in this industry because we believe in the technology behind it. However, we have learned some critical lessons in five years of running a crypto and NFT marketing agency, and we’re happy to share them.
Hire the best and brightest
The most important lesson we’ve learned is to recruit the best and brightest consistently. When it comes to crypto and NFTs, things move quickly, and the landscape is constantly changing. You need adaptable team members who can think on their feet. We learned that the prominent visionaries who were able to execute rapidly launched the most successful campaigns by surrounding themselves with the most talented team possible. Whether their expertise ranges from gaming and finance, or art and tokenomics, it’s critical to select the right people carefully. We’ve found that the best way to recruit blockchain talent is through events and word of mouth.
Of course, it’s about more than finding smart people. You also need to find people who are passionate about the industry and believe in technology. The crypto and NFT industry runs 24/7 because of its global nature. The most successful business campaigns were launched by those who gathered a team of brilliant minds across multiple disciplines, including developers, engineers, capital raisers, marketers, and more. They acted on their vision quickly and efficiently. This combination of skills and attitude will help you weather any storm.
Leverage influencer or “word of mouth” marketing
The second most important lesson we’ve learned is the power of word-of-mouth marketing. In our experience, the crypto industry is driven by strong personal relationships. When you create a brand that people can trust, they will become your biggest advocates.
For example, when we launched our crypto and NFT marketing agency, we created a strong brand that people could trust. We focused on being transparent and delivering results. As a result, people started to recommend us to their friends and colleagues. We quickly became one of the leading agencies in the space, all because of word-of-mouth marketing through influencers and community builders.
Of course, you can’t just sit back and wait for people to start talking about you. You need to be proactive and create content that will get people talking. Partnering with and building strong relationships with influencers has been one of the most effective ways to do this. When you can get influencers on your side, they will help you reach a wider audience and build trust with potential clients. They’ve also given great feedback that can help improve your services.
Raise funds from investors and customers to prepare for bear market cycles
The crypto industry is volatile, and at times the market dips. When this happens, it’s critical to have a plan for weathering the storm.
First, make sure you have a good understanding of your finances. Know your burn rate and how long you can last without making any new sales. Bear and bull markets for crypto are impulsive, so it is essential to always have enough money saved to last two to five years. Planning in this way guarantees that you can make it through any difficult market periods and still have the budget necessary to expand your business.
One of the best ways to do this is to diversify your portfolio. Don’t put all your eggs in one basket. Invest in a variety of projects and assets so that you’re not relying on any one thing to succeed. It will help mitigate your risk and make it more likely that you’ll still stand when the market recovers.
Create a marketing agency that’s built to last
People have called crypto and NFTs a fad; we believe it’s the future of the new internet or Web3. The technology will be so seamless that you won’t even notice it’s there. That’s why, as a marketing agency that prides itself on being built to last, we’ve had to learn how to make decisions that will last. By following the tips above, we’ve built a strong foundation that’s allowed us to weather any storms that come our way.
Contributed to EO by Jeffrey Maganis, co-founder of Crowdcreate, a leading blockchain marketing agency specializing in Web3, Crypto and NFTs that has been a global pioneer in launching and scaling some of the most successful projects in blockchain technology since 2017. Crowdcreate also runs one of the largest networks of crypto founders, angel & VC investors, influencers and creators.