“Influencer marketing is the culmination of the promise social media initially gave us.” – Joe SinkWitz
This quote holds true even in disruptive spaces like blockchain, as crypto influencers link blockchain technology innovators to mainstream investors.
In the blockchain community of ICO investors and cryptocurrency enthusiasts, influencers are persons whose opinions can affect the worth of cryptocurrencies.
Just like every other web community, influencers in the crypto space use various social media platforms such as YouTube, Instagram, and Twitter to churn out content that focuses on cryptocurrency and the web subculture created around it.
Why Do Influencers Exist?
A lot of factors make the cryptocurrency investing sphere an extremely complicated one. Ever-evolving regulations, blockchain tech concepts, highly unpredictable market trends and the influx of scammers are the complicated issues investors need to deal with.
This is the reason influencers exist, to make these complicated issues clear to non-technical people.
Since a typical crypto investor will not have the time to be in on every development happening in the rapidly evolving blockchain industry, influencers demystify the complex issues that crypto investors and the blockchain community must deal with.
Most crypto influencers accomplish this by creating video content exploring current trends and projects in the crypto space. The followers of such influencers will remain up to date on market trends in the crypto space via the influencers created content.
Crypto investors then make informed trade decisions based on the content created by influencers.
Various influencers have unique areas of specialization and interests in the blockchain sphere but typically, an influencer with devoted followers is a thought leader whose content has widespread market consequences.
Why are Influencers Essential in Crypto Space?
Due to traditional digital advertising losing its relevance to the blockchain community, crypto influencers are an essential alternative. For instance, since 2016, Reddit placed a ban on cryptocurrency ads, Google also banned cryptocurrency ads, and Twitter did likewise.
These social media platforms and search engines cover most of the digital advertising marketplace and without these advertisement platforms, fintech and cryptocurrency brands must find an alternative to conventional digital marketing strategies.
Data even shows that Facebook and Google had a 99%ad revenue in the 3rd and 4th quarter of 2016 alone. That’s some major market to lose out on which is why taking advantage of influencers is necessary for any crypto brand.
The Effectiveness of Influencers to Your Crypto Brand
Influencers are a lot more effective in inducing consumer engagement than conventional digital marketing tactics. In fact, research shows that 92%of consumers would rather make a purchase based on influencer opinion instead of ads.
Furthermore, the promotional content churned out by influencers is naturally included in their content, so followers aren’t turned off by numerous advertisements.
An influencer can reveal your blockchain project to its relevant audience of eager investors. If your project ends up impressing investors you can boost your brand’s growth organically both in token value and community growth.
Major Platforms Used by Influencers
One of the major way’s influencers create and share content is through videos. Every minute, web users upload 300 video hoursin 76 different languages, this is why YouTube is one of the chosen platforms for influencers who seek to generate large followings.
Visual content is deeply engaging, easily accessible and highly informative and since YouTube is the most used video social platform on the web, influencers take advantage of this and create informative content for both crypto newbies and enthusiasts.
Any social media platform can also serve as a profitable platform for influencers, if it offers quality exposure.
Instagram, Medium, Twitter and niche websites such as BitcoinTalk are all used by influencers in the crypto space who put out content to release entertaining or informative blockchain content, contribute to discussions on current trends and generate followings.
What to Expect from Influencer Campaigns
Influencers in the blockchain space are not a replacement for because they offer your brand a different outcome. They simply offer you a platform to experience organic brand engagement and growth.
Crypto influencers do not give your brand an audience of millions that major social media platform ads do, but instead loyal followings that are easier and more crucial to engage.
Large advertising campaigns widely boost brand recognition, but influencer campaigns increase organic interests, drive community growth and build brand reputation.
So, when running an influencer campaign for your crypto project, do not expect millions of random engagements but relevant engagements.
Never underplay the role of influencers in your crypto projects as they can make or mar your entire campaign because the blockchain space thrives on brand reputation.