Crypto Influencer Marketing: What, Why and How?

7 min read
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“Word of mouth” is the business world’s version of sharing cool secrets. It’s how people have always spread the word about neat finds or the next big thing. This tradition goes way back. Influencer marketing is the modern twist on this. We are talking about how popular people online point us to new and exciting things on social media and create real impact. Crypto influencer marketing works the same way.

In the dynamic crypto market world, influencer marketing has emerged as a cornerstone strategy for DeFi projects aiming to carve out their niche. Drawing from our hands-on experience with rising-star DeFi initiatives, these are five self-learned tactics that anyone in Web3 business development or marketing should consider.

Crypto Influencer Marketing

Crypto Influencer Influencer Marketing vs. Traditional Advertising

Crypto Influencer Marketing Success Framework

  1. Outreach: How to Identify Your Crypto Influencers
  2. Onboarding Crypto Influencers: The Best Practices
  3. Crypto Influencer Content Management: A Strategic Approach
  4. Building Relationships with Crypto Influencers: Beyond Transactions
  5. Campaign Management: Keys to A Successful Crypto Influencer Campaign
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Crypto Influencer Influencer Marketing vs. Traditional Advertising

Crypto influencer marketing and traditional advertising are like two different paths to the same destination: getting your brand noticed. But they take very different routes to get there. Let’s break it down in simple terms, especially for those diving into the crypto world.

Crypto Influencer Marketing

Crypto influencer marketing is all about using the power of popular “chads” (people) on crypto-friendly social media, such as X, TikTok, Substack, or Telegram, to tell your story of blockchain innovation. It’s like having a chat with friends who suggest something new and exciting. This approach feels more genuine because it’s about real people sharing stuff they like or believe in. It’s not just about selling; it’s about sharing stories and experiences that resonate with people.

The cool part? Plus, you can get creative by combining the power of influencers with bootstrapping campaigns, like using NFT loyalty cards, crypto airdrops, incentivized programs, and referral campaigns to get more traction from the community of users.

Traditional Advertising

Meanwhile, traditional advertising is what we’ve all grown up with. It’s the ads on TV, radio, billboards, and online banners. It’s tried and tested, sure, but it can sometimes feel a bit in your face and impersonal. You see an ad, but you might not feel a connection to it.

This method covers a wide range of platforms and has been around the block, so it knows what it’s doing. However, when it comes to a new, controversial, and not fully regulatory field like crypto, running an advertising campaign on popular social media is more likely to face certain challenges and restrictions.

The Best of Both Worlds?

Crypto influencer marketing offers a new, engaging way for DeFi projects to connect with their potential users. It helps build trust and be interactive about what’s happening behind the scenes. It’s an interactive and direct way to reach and convert your audience to real users.

Traditional advertising isn’t going anywhere, though. It’s familiar and can still be effective, especially when you want to reach a broad audience quickly. But, social media might need to make bold movements in terms of rules and regulations to keep up with the decentralized world.

Crypto Influencer Marketing Success Framework

1. Outreach: How to identify your crypto influencers?

Crypto influencer marketing is all about creating hype and gaining attention from the community. Depending on the services you are providing, your target community can be either blockchain builders, tech-savvy developers, organic users, hunters, farmers, or traders. To really hit the mark, you need to find influencers and KOLs (Key-Opinion Leaders) whose audience is where your project is approaching with a reasonable budget.

Here’s a simple plan we like to call the “3-phase pack” strategy. It’s all about finding the right voices to amplify your message:

  • Phase 1: Start with a bang. Get some seed influencers to kick off the hype. This is your chance to make some noise among thousands of newly launched crypto projects, but only if it fits with your big-picture goals.
  • Phase 2: Now, it’s time to teach. You’ve got people’s attention; let’s keep it. Bring in mid-tier influencers who can take the buzz from Phase 1 and turn it into knowledge. Help your audience understand why they should care, and what they gain from being a part of your project.
  • Phase 3: Go big. Partner with the top-tiered influencers who are experts in their niche (yield farming, DeFi analysis, on-chain trackers, or DeFi educators). They’re the thought-leading ones who can dive deep, delivering insights that not only inform but also inspire action. And don’t forget to make it easy for the audience to know what to do next with clear calls to action.

2. Onboarding Crypto Influencers: The Best Practices

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When reaching potential influencers, success hinges on strategic and thoughtful engagement. Here’s how to make your efforts count:

  • Understand Your Influencers: Study carefully the influencers’ content to understand their expertise, style, and audience. This ensures a natural fit between their brand and your project, setting the stage for authentic collaboration.
  • Craft Compelling Proposals: Make your proposal stand out by clearly outlining the benefits for the influencer, including what you’re offering in terms of deliverables, compensation, and the campaign’s duration. A clear, appealing proposal paves the way for a positive response.
  • Provide Detailed Content Briefs: Equip your influencers with content briefs that guide but don’t constrain. Include product information, the crypto narrative you aim to share, content ideas, and CTAs. This helps influencers create content that resonates with their audience while aligning with your goals.
  • Set Clear Objectives: Be upfront about what you hope to achieve with the partnership, whether it’s boosting brand visibility, driving traffic, or increasing conversions. Clear goals ensure that influencers understand their role and can focus their efforts effectively.
  • Maintain Open Communication: Keep influencers updated on your project’s progress and any significant changes. Regular communication ensures their content stays relevant and fosters a deeper commitment to your project’s success.

By following these streamlined practices, you can forge meaningful, effective partnerships with influencers that amplify your message and drive your crypto project forward.

3. Crypto Influencer Content Management: A Strategic Approach

Adopting a versatile content strategy is key to making the whole influencer marketing campaign more engaging, natural, and authentic.

  • Diversify Content Formats: Utilize a mix of content formats to maximize engagement and reach on X by encouraging influencers to create their YouTube videos, long tweets, short tweets, threads, blogs, newsletters, and podcasts about your project. Each serves different content angles and reaches various audience segments.
  • Emphasize Research and Narratives: Craft content that’s both well-researched and story-driven. Authenticity and practicality should be at the heart of the message conveying influencers’ content, steering clear of overt sales pitches.
  • Find the Right Balance: Aim for a consistent presence without overwhelming your audience. You won’t want your brand to show up unnaturally like being seeded by bots and clone accounts. Quality over quantity ensures your content is anticipated, not ignored.
  • Monitor Key Metrics: Success measurement is crucial in any influencer campaign to thoroughly assess each influencer’s content and adjust the approach for upcoming content, if any. Focus on:
    • Follower Growth: indicates expanding reach.
    • Impressions: show how often your content is viewed.
    • Engagement Rates: reflect audience interaction with the content.
    • Click-Through Rates: measures the effectiveness of the CTAs.
    • Conversions and ROI: demonstrates the financial effectiveness of the whole campaign.

By following these guidelines, you can refine your strategy to not only engage your audience but also achieve measurable results.

4. Building Relationships with Crypto Influencers: Beyond Transactions

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Building long-term relationships with influencers, rather than a promotional tool.

Building lasting relationships with influencers is crucial in the fast-paced crypto market, where finding and retaining high-quality influencers is fairly competitive. It’s about partnership, not just promotion. Here’s a streamlined approach:

  • Trust and Professionalism: Start with trust. Be clear, prompt, and professional in all communications. This sets a solid foundation and encourages influencers to reciprocate with transparency and dedication.
  • Beyond Single Campaigns: Think long-term. Get to know influencers beyond the business aspect. Understand their expertise and align your projects with their values. This builds a rapport that goes beyond just one campaign, paving the way for ongoing collaboration.
  • Exclusive Perks: Make your influencers feel special. Offer them early access to products, exclusive features, or branded merchandise. These perks not only incentivize them but also provide unique content for their audience, making your brand stand out.
  • Appreciation and Engagement: Regularly engage with their content, acknowledge their efforts publicly, and thank them for their contributions. This mutual appreciation fosters a positive and enduring partnership.

In short, treating influencers as valued partners by building trust, and fostering long-term relationships can turn them into powerful advocates for your brand. This not only boosts your campaigns but also strengthens the overall crypto community.

5. Campaign Management: Keys to A Successful Crypto Influencer Campaign

Chasing influencer marketing in the crypto space can feel like a running sprint. When the market is on an upward trend, or what we call a “bull run,” the stakes are even higher. The competition is fierce, and the costs can skyrocket. It’s not just about finding the right voices to amplify your message; it’s also crucial to manage the entire campaign efficiently to ensure you’re getting the best bang for your buck.

Moreover, there’s a lot to handle, from picking the right influencers to keeping everything running smoothly. That’s where Pink Brains step in. We’re here to make things simpler, and more effective. We take the stress off your shoulders.

“So, why another marketing agency?” Not a marketing agency, we regard ourselves as a nice and fresh DeFi Content Studio where our strong collaboration with the coolest and smartest DeFi KOLs can help elevate quality projects through authentic representation.

Our mission is straightforward: to tell your project’s story. We believe every DeFi initiative has a unique narrative that deserves to be heard. Here’s how we help through our DeFi Project Growth Framework.

  • Trusted KOL Connections: We match your project with KOLs who align with your vision, ensuring that your message reaches the right audience with a reasonable package.
  • Strong Collaborations: Our expertise lies in fostering partnerships based on mutual respect and shared goals, moving beyond mere transactions.
  • Genuine Narratives: In a crypto space where authenticity and narratives resonate, we focus on telling your story in a way that’s engaging to the current trend but still true to your values.

Conclusions

Crypto influencer marketing is like stepping into a niche of social media marketing. It’s fresh, it’s exciting, and it’s full of chances to do things differently. For anyone who is working in Web3/DeFi business development and marketing, finding a good influencer marketing strategy is important to elevate your project and spread it out to a wider user base. Especially in crypto, we’re not just following trends; we’re setting them. This journey into Web3 is about more than just marketing; it is about being part of a community, and a shift in how we connect and share online. Let’s create an on-chain future together!

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