It’s 2022, and everyone is looking for a way to earn passive income. Affiliate marketing is performance-based marketing where a business rewards one or more affiliates for each visitor or customer brought by the affiliate’s marketing efforts.
Cryptocurrency affiliate marketing is a new type of blockchain marketing. People can earn cryptocurrency to promote a company’s products and services. It’s a win-win situation because you can promote crypto coins and earn coins, while the company you promote benefits from your efforts.
This article will explore the concept of cryptocurrency affiliate marketing and how it has been used in recent years.
Affiliate marketing is one of the best ways for businesses and organizations to introduce new potential customers to their products or services. This strategy is quite effective in the cryptocurrency niche. Many projects are applying this model to reward existing users for enrolling new customers to their platforms.
This is how it works: an affiliate creates a promotion and offers it to the merchant. The merchant provides the advertisement on their website in exchange for either a flat fee or a percentage of the sale. If someone buys something with the offer code, the affiliate earns a commission on that sale, or they are paid out of that person’s purchase amount.
In most crypto marketing affiliate programs, users are given a unique link from their crypto project to invite friends. This link helps both users and the project track how many new customers have signed up. The rewards range from simple discounts, for instance, in trading charges to high monthly gains.
The users with affiliate links don’t have to invest any money – only their time. Thus this strategy involves low risks while giving high potential returns. Additionally, it’s easy to get started, and it does not require any skill or prior knowledge.
Affiliates are not employees of this business but instead work independently to promote its products and services or create project awareness. This means that affiliates can advertise any service without worrying about conflict-of-interest issues.
Crypto exchanges are the platforms that allow fiat currency conversion into cryptocurrency. They are also where you can trade cryptocurrencies. Some of these exchanges will pay you for referring people to their platform. The amount they will pay you varies from exchange to exchange and has a lot to do with how much traffic your link brings in.
Many factors can affect how much an affiliate earns from a crypto exchange, including the conversion rates of different currencies, the number of transactions made on the exchange, and whether or not there are any restrictions on withdrawal limits.
The best way to find out how much an affiliate program pays is by signing up and checking out their offers.
The best bitcoin and crypto affiliate programs have a lot of potentials to generate revenue, but they also have a lot of competition. Certain exchanges offer a commission of up to 50%. Some of these programs include:
The cryptocurrency market is relatively new and volatile. It has become a popular investment option for many people, but finding reliable information about the cryptocurrencies themselves is also increasingly challenging. This article will help you create an effective cryptocurrency marketing campaign.
There are many steps to take to market a cryptocurrency effectively. The first step is to create awareness of your coin and what it can offer the world. You should also ensure that your currency has a good reputation and is well-reviewed by other crypto experts.
Another critical aspect of marketing your coin is making sure that there are plenty of exchanges where people can buy or sell your coins and make sure that there are enough wallets for storing them securely online or offline.
The tips for running a successful affiliate program are:
One of the most important aspects of a successful affiliate program is to have a product with an easy return policy. This helps ensure that the affiliates will not be afraid to promote the product to their audience. This way, they will not have any qualms about recommending it to their audience, and there will be no risk of them losing credibility in the eyes of their audience for promoting a product that doesn’t work well or is not worth buying.
Many businesses offer rewards to customers for doing things like reviewing products, signing up, or following them on social media. These actions are incentivized with points, miles, prizes, or other awards like free items or discounted rates.
It is essential to have a system to measure the affiliate program’s success. This means setting benchmarks for KPIs such as conversion rates, revenue generated, and average order values. Not only will this help you with growth opportunities, but it will also ensure that your affiliates are successful too.
The cryptocurrency market is booming. It is growing at an exponential rate. The demand for crypto has increased, and so have the prices. This has led to many people joining the industry as affiliates of crypto exchanges. They are earning a lot of money by referring people to sign up on these exchanges and start trading cryptocurrencies.
This niche has several service providers who want to cash in on cryptocurrency’s cashless phenomenon. Many exchanges, lenders, and marketplaces pop up every so often. However, most of them disappear just as quickly as the promise to get rich fast.
Imagine a multi-billion dollar industry running the world and free from regulation. That was unimaginable a few years ago. Today, cryptocurrency and blockchain technology proved the impossible possible. According to 2021 market size reports, the cryptocurrency industry is now worth $1.6 billion and could hit $2.2 billion by 2026.
Cryptocurrency is not new to the world now, but surprisingly, the industry still lacks a solid regulatory framework. Anyone with the ideal tech can launch an ICO. For now, we put everything else aside and focus on the unique strategy for crypto projects, the ICO.
As commonly used in the crypto world, ICO is an acronym for initial coin offering. It is a cryptocurrency marketing strategy similar to initial public offerings (IPO), where investors buy shares. For ICOs, companies looking to run a cryptocurrency project sell part of their crypto tokens to early investors to raise funds to finance the project.
Usually, the project team develops a website dedicated to the token where interested investors can find all the relevant information about the ICO. They can see the wallet address to which they send funds to receive the crypto coins once the coin launches officially. The token website will also have details of the possible fiat currencies that investors can send, accepted crypto coins, the price per token, soft and hard caps, and the duration of the ICO.
While the crypto space has been explosive and attracting millions of investors, it’s not easy to run an ICO campaign successfully. For instance, in 2017, only 48% of ICOs managed to hit their soft cap, even though it remains the breakthrough year for ICOs. However, successful ICO marketing campaigns raised about $6 billion in that year.
Most ICOs have a target amount that the team intends to raise within the ICO period. If they hit the bare minimum, the project proceeds and the money is used to pursue the project goals. The team communicates project goals beforehand via a whitepaper, so investors know the project plans, goals, and roadmap before investing. On the other hand, if the ad campaign fails to raise enough funds, the team may return the money to investors, in which case they deem the ICO unsuccessful.
As noted earlier, there are no definite rules in the crypto space, so any tech-savvy person who comes up with a worthwhile project can launch an ICO. However, the unregulated nature of the industry still poses a threat due to the risk of ICO scams. Fraudulent individuals can conduct false ICOs and get away with investors’ money. For instance, in 2018, a group of scammers came up with a project dubbed ‘Giza’ and made away with $2 million after a successful ICO. Therefore, the biggest challenge comes in convincing potential investors about the legitimacy of your project.
In any case, if you are planning on blockchain marketing, it’s good you start by checking how other blockchain businesses conducted their campaigns and whether they were successful. See their approach and the ICO marketing strategy that helped them stay on top of the game and use your analysis to develop your campaign strategy. Typically, when you want to launch an ICO, your marketing strategy should focus on making your project team known, community building, and meeting potential investors.
Avoid launching a project anonymously if you want your ICO advertising journey to get anywhere. Going anonymous alarms potential investors, and even legitimate projects may get labeled as scams. If you are confident about the project, you should be proud to put your name on it. Focus on creating confidence in investors by introducing the project and the project teams. List all your associates on the website and include details of their experience in the blockchain or tech space.
Here, you can use your influencer network to benefit from having the audience of their large following and help your project appear more credible.
The success of an ICO is mainly dependent on brand awareness, and that’s why you need to build a vibrant community. Make sure you are transparent with your team to counter any uncertainties and fear. Always be welcoming to customer queries and, where possible, respond to them directly.
Here, you can leverage the power of social media networks like Telegram, Reddit, and Twitter and use them to create a vibrant online community. The online community will increase your brand’s social media presence and awareness which is the core for the success of the ICO.
Before you launch an ICO, you know your target group of investors who will probably benefit the most from the project. Whether you are sure about their stand or not, approach them literally if you think they are potential investors. You can meet potential investors in blockchain seminars and conferences, perfect for benchmarking and possibly tabling your idea.
Generally, the success of an ICO will depend on a mix of different factors, but awareness is a significant player. There are professional ICO marketing strategies and services that project teams can leverage already. The industry is pretty dynamic—it’s upon you to identify the options that work best for you, depending on your project. Later on, you can see what brings you desired results leverage what doesn’t align nicely with your goals, and cut down on it.
A much-anticipated update to Facebook’s ad policy recently came into effect, changing the social media giant’s guidelines on the management of crypto-related advertisements on its platform. In a blog post, the company, now called Meta, said it had decided to increase the number of regulatory licenses it was acceptable for companies to advertise on its platform, from a paltry 3 to 27. This means that it will now be much easier for blockchains, cryptocurrencies, and assorted decentralized finance (DeFi) projects to run Facebook ads.
The decision by Facebook to change its stance on cryptocurrency marketing was reached after the company acknowledged the growth and development of the crypto space. Facebook praised governments around the world for their efforts to regulate and streamline the crypto industry. These efforts, Facebook believed, had led to the maturity and stability of cryptocurrencies in the last few years.
This stability and maturity being witnessed in the crypto space that Facebook believes will help it make more transparent and equitable policies regarding cryptocurrency marketing on its platform.
In 2018, Facebook decided to prohibit ads promoting financial products associated with deceptive or misleading practices. These restrictions mostly affected crypto start-ups, initial coin offerings (ICO), and binary options, all of which Facebook felt at the time were being used by bad-faith actors to swindle the public.
A study carried out by a New York-based ICO advisory company, Satis Group LLC, indicated that up to 80% of all initial coin offerings in 2018 were scams. According to the study, only a paltry 8% of ICOs floated that year reached the trading stage on various virtual currency exchanges. Of that 8%, 4.4% were reported as dwindling projects, while only 3.6% were considered promising or unequivocally successful.
The unregulated and virtually anonymous nature of crypto makes it a constant target for scams ranging from fraud to hacking, digital theft, and phishing. In the first two months of 2018 alone, it was reported that investors lost over $1.3 billion worth of crypto to scammers and fraudsters.
In June 2018, Facebook made slight changes to its ad policy that allowed advertisements from businesses that had received prior written approval. Then in 2019, the company scaled back the policy even further and allowed more companies working on crypto and blockchain technology to promote their projects on the platform. Industry observers believe that taking a phased approach to allowing crypto marketing on its forum will give Facebook more time to examine the crypto industry and to better understand its nuances.
Responding to questions about the lifting of the ban, a Facebook spokeswoman said, “While we loosened the policy this summer, it remains restrictive.” She further added, “We will continue to listen to feedback, look at how well this policy works, and continue to study this technology so that, if necessary, we can revise it over time.”
The social media platform’s move to allow more crypto ads on its network came around the same time it was ramping up efforts to build its own cryptocurrency. The token, then known as Libra, was intended to be a universal currency anchored to multiple sovereign fiat currencies such as the dollar and the euro.
However, Facebook’s cryptocurrency project came under strong criticism from fiscal regulators around the world, who feared the currency could threaten global monetary stability and enable money laundering. This backlash led some of the project’s strongest backers, like MasterCard, Visa, and Stripe, to walk away.
Despite all that, Facebook did not pull the plug on its crypto dream but instead decided to rebrand it and develop it in a more low-key manner. The project, now called Diem, is set to be rolled out later this year in a small-scale pilot focusing on microtransactions between individual consumers.
Speaking of the positive effects of lifting the crypto ads restrictions, former Facebook employee and current CEO of Retina AI, Emad Hasan, said, “These companies had been in a spot where they couldn’t advertise on Facebook. They couldn’t drive people to convert fiat currency into cryptocurrency. This will enable the average day-to-day person to do this.”
Initial coin offerings are still not allowed to advertise on the social media platform, but it is hoped that further development in the crypto space aimed at making crowdfunding more secure from scams and rug pulls, may sway Facebook’s attitude towards them. In addition to that, Facebook’s experience with its own digital currency may also help shape its policy regarding crypto restrictions on its platform.
In August last year, Google Ads also changed its financial products and services policy that previously curtailed crypto ads on its platform. To reduce misleading advertisements and eliminate blatant crypto scams, the search engine giant laid out a raft of requirements that advertisers had to meet to run ads on Google.
These requirements include registering with either the U.S. Financial Crimes Enforcement Network (FinCEN) or a federal or state-chartered banking entity and complying with the legal requirements of the jurisdiction in which a company is domiciled, as well as Google’s advertising policies.
While businesses like crypto exchanges and crypto wallets can now advertise on Google, the tech giant’s new policy still imposes an overarching ban on most crypto-related products and services, including initial coin offerings and decentralized finance protocols. Additionally, the partial lifting of Google’s ban on crypto ads only applies to companies based in the United States. The rest of the world still has a while to wait.
Facebook’s decision to lift crypto restrictions on its platform will be hugely beneficial to blockchain start-ups that could not previously access the social media’s large and receptive constituency. Crypto startups may have moved to more crypto-friendly social platforms to promote their projects, but Facebook’s reported 3 billion active users every month is a potentially game-changing number for prospective crypto projects.
When Facebook changed its name to Meta, it signified a move towards the creation of an immersive new social space that could have deep compatibility with blockchain technology. As such, the company cannot afford to prolong its adversarial relationship with crypto developers like Bloom, whose products could potentially play significant roles in Facebook’s upcoming metaverse.
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