Tag: Crypto Marketing

Over time, influencers as a mode of marketing have shown to yield more customer engagement as compared to traditional marketing approaches. Customer surveys have shown that they prefer to make product purchases based on opinions instead of advertisements, as most people find ads annoying. On the other hand, influencer advertising integrates the product naturally into their content, making it more efficient.

Although influencer marketing is a great way to promote a specific product or service, working with the right influencers is also essential to ensure that the strategy works in your favour. You need to know how to contact and work with these influencers effectively, and in this article, we shall look at how to choose the influencer shoe that fits perfectly.

Choosing the Right Crypto Influencers

Identify Your Campaign Goals

The first step in establishing an influencer marketing campaign is to set goals. That will help you determine how you want to promote your project and how you want to reach those goals. Similar to other marketing campaigns, the goals of an influencer campaign are identical to those of different forms of marketing. Notably, that will help streamline the processes for you and the influencers.

Another important factor that you should consider is to set a timeline. That will help ensure that the people you’re working with are on track to reach them.

Choose the Channel

The next step is identifying the channels you will use to promote your project. You can use various platforms to promote your projects, such as social media, blogs, and video sharing. The right channel choice will allow you to reach the right audience.

Identify Potential Influencers

After you have finalized the channels you will use for promoting your crypto project, you have to start looking for suitable influencers who will be able to promote it.

Before you start working with a potential influencer, you must have a good idea of their capabilities and goals. Having a list of these individuals will allow you to track their activities and give you a better idea of how they operate. However, it’s also essential to set your expectations right.

For instance, if you’re planning on working with a brand-owned influencer, you must have a list of their potential clients. That will allow you to focus on the right individuals for your project. Having a list of these individuals will help you keep track of their activities and give you a better idea of how they operate. In addition, having a good idea of the individuals’ capabilities and goals will allow you to make an informed decision when working with them.

Which Influencer Will You Choose?

Before starting an influencer marketing campaign, you must consider the various factors that will affect the success of your campaign. For instance, the number of followers you want to attract, the type of content you want to promote, and the platform you wish to use.

Follower Growth

If the influencer hasn’t grown, for example, every month, they might not be doing a good job and could be missing out on potential customers. On the other hand, if they have a substantial growth in their follower count, they might be able to attract more people.

Engagement Rate

The engagement rate measures the level of interaction between an influencer and their audience on Instagram. It can be calculated by the number of likes and comments an influencer has received and the follower count.

Follower Ratio

The follower/following ratio measures an influencer’s total followers. It can be calculated by comparing the number of followers they have with the number of profiles they follow. If the ratio is over one, an influencer might use a tactic known as follow/unfollow. This method can help boost their follower count, but it can lead to poor results.

Most people who follow influencers tend to leave them after a while due to their poor quality of content. That is why you must consider using social media etiquette to increase followers. However, this method won’t work if you’re not planning on using it to promote your candidates.

Prior Campaigns

One of the most important factors to consider when choosing an influencer is the past campaigns they have run. Suppose they don’t have any past campaigns. However, it could also be that the influencer is new in the game and might not have the necessary skills to carry out effective campaigns. Before hiring a candidate, thoroughly research the various crypto brands they have worked with previously.

Approaching the Shortlisted Influencers

The first step in gaining a deeper understanding of influencer profiles is to analyze them at a granular level. Once that’s done, the next step is to connect with them through social media platforms. You can do this by manually monitoring their activities and performance.

One of the most effective ways to find and connect with influencers is through a crypto influencer marketing tool. That can help you analyze and find the individuals most likely to benefit your business. Aside from providing you with all the necessary information about the individuals likely to benefit your business, hiring a seasoned marketing agency such as Cryptovirally can also be helpful.

These firms usually work with prominent individuals on various platforms. They can help you find and connect with influencers at a much lower cost than traditional influencer marketing tools. However, before you start working with crypto influencers, it’s essential to make sure that you identify the right one for your project.

How Much Does a Crypto Influencer Cost?

Before contacting a crypto influencer, you should have the following pricing tips in mind;

Negotiate for the Best Value

There are various ways to reduce the cost associated with working with an influencer. Some will offer economies of scale for bulk deals, while others will only work with you if you ask for a significant amount.

Some people are eager to get involved in an ICO to raise their industry profile or to break the news. They can also pay in an ICO token after completing the project. However, note that risks are involved, such as the multiple that may be applied to accept the token.

Working with an agency such as Cryptovirally can provide you with a variety of benefits, as they will often have a group of highly skilled influencers who are willing to help you build a strong following. That will allow you to achieve many of the same goals that you would not be able to accomplish by yourself.

Market Saturation

The rise of ICOs has caused the market to become saturated. Because of this, many influencers have increased their fees.

As the number of influencers continues to grow, the fees will eventually drop, but they still offer a good value for now. Because of this, marketers will start quantitating the value of each dollar spent on them, which will likely happen in the future.

Time of Payment 

In crypto and blockchain, influencers ask for a higher upfront payment, unlike other markets where agencies and brands require that the output be delivered first. This type of negotiation is more likely to go through risk management in a sellers’ market, where the decisions are handed to influencers.

Key Takeaways

Getting the right influencer strategy is very important for any ICO, but it’s also essential to be careful about allocating your budget. In this new market, where best practices are constantly being refined, it’s vital to ensure you’re getting the most out of your budget.

Getting through the influencer marketing process is not easy, especially in the case of digital marketing. Before you start, make sure that you thoroughly evaluate the content that you’re offering and that you estimate the expected output. After that, you can comfortably contact the influencer of choice, depending on your needs.