It’s 2021 and the world we live in is one of endless opportunities (even with the pandemic hitting us hard). Sometimes it feels like we’re all just living in a cryptoworld, and we can surely say that influencers have long ago arrived in that world.
Much like with the beauty industry, influencers are now playing a huge role in promoting coins and crypto products and companies. Of course, crypto and influencers are not a new love story, but one that got more intense in the wake of many advertising regulations relating to crypto players.
So, here’s everything you need to know about the crypto mania and how influencers are playing a role here:
YouTube as the preferred channel
Most influencer collaborations within the crypto sphere are based on long format at the moment, which of course brings YouTube into play. With the topic not being as easy to explain as why you should buy a certain Gucci bag, influencers need more time to explain all the specifics of investing and which products to go after. With the nature of its content, YouTube is a perfect place to go to for advice on crypto investments.
Although, with more awareness and knowledge around cryptocurrencies among young people, these collaborations are notably spreading across all possible platforms such as Twitter, Instagram, Facebook. Promoting coins or wallets through Insta stories or Facebook feeds proved to be a great way for crypto advertisers to navigate audiences towards their “next big coin”, “the best wallet” or other products.
Influencers can offer explanations
With cryptoworld being somewhat new, there’s still a lot of misunderstanding around the topic. How to invest, where to start, which wallet to use, which coins to pay attention to etc. It’s clearly not as easy as promoting a foundation or a lipstick. And that’s where influencers can come in and help bridge those barriers by giving more context on the topic and bringing greater understanding of the cryptoworld. It’s also important to note that crypto advertisers should not only look for crypto-specialized influencers, but for creators from all categories with affinities for investing.
The power of affiliate links
Much like beauty and fashion, crypto advertising has also been able to benefit from affiliate marketing. For those who need more context on the topic here’s a definition by Wikipedia: “Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate's own marketing efforts.”
Now that you understand the definition, you can probably assume how influencers and crypto advertisers have both benefited from this type of collab. So basically how it works:
- You give each of your influencers a specific link. For each referral they receive a specific fee that you agree on with the influencer.
- In case your product is being paid for and you’d like to offer a discount to all the people referred to by influencers, you can set up different discount codes for each influencer (e.g. Mary25) and then track how many times a code has been used. Based on that number, you agree on the percentage the influencer receives.
You’d like to start a campaign, but don’t know how? Here are some basic rules you need to follow to ensure success:
- Check the influencers you’d like to work with
Their credibility rates, engagement rates, audience demographics and more (you can do all that through our X-Ray Scan)
- Create a super clear brief about what you expect from the campaign
What’s your key message, which products you’re focusing on, any visual direction or any information that’s important for influencers to be able to prepare a fitting content.
- Check on your campaign, and if necessary approve all content pieces before they are published
Check the rest of the rules for successful influencer marketing strategy in our free E-Book here.
Or if you’d like our help from start to finish, BOOK A DEMO and we can show you around and give you concrete examples of how successful campaigns are set up and what results they can bring to your business.
p.s. As you can imagine, we are good at advertising, but we're in no way financial advisors. ;)