Who Are Crypto Influencers?
The surveys show that despite crypto hype, 32% of US adults don't trust crypto, and 25% don't understand crypto. Plus, regulations are constantly changing, market patterns are unpredictable, and an invasion of scammers are just a few of the complex concerns that potential investors must contend with.
It means that advertising crypto projects can't be easy as consumers may know nothing about them or don't trust them.
In this case influencers can help. People trust influencer recommendations more than celebrities or a banner because influencers are more relatable. Crypto influencers can make complex concerns understandable to those not technically trained.
To see your crypto project take off, establish credibility and trust. Brands that have launched successful crypto projects can attest to this. And there's no better way to do this than influencer marketing.
What Makes A Crypto Influencer Strategy Effective?
1. Trust
Some research shows that ROI from Crypto influencer marketing is higher than from other forms of online growth methods.
The larger portion of marketers believes that influencer marketing brings a comparable return on investment. 14% believe that it brings much better ROI and 34% rate influencer marketing ROI as better. On the other side, 10% of marketers think it’s worse and 1% rate it as much worse compared to other channels. (Source: Smart Insights)
The main reason for that is simply trusted. Crypto influencers have built their reputation, and people trust their opinions. They may have a relatively small but more committed community of followers, more accessible and more important to engage with.
2. Influencer Programs Increase Organic Interest
Advertising campaigns are created to improve brand recognition and raise brand awareness. In comparison, influencer programs increase organic interest and motivate community growth by establishing a company's reputation.
3. Influencers Bring A More Involved Audience
It is even more critical for smaller projects or start-ups that are new on the market and have no audience yet. Crypto influencers share information on a business or product with their audience, which is already prepared to pay attention. As one of the marketing laws says, clients are more inclined to interact with content if provided by someone with whom they are eager to connect.
Some Drawbacks Of Crypto Influencer Marketing
1. No Results Are Guaranteed
Influencer marketing is a pretty volatile form of promotion. Choosing the right influencer for the right project is not an easy task to do. You should carefully select which content creator's audience performs the best for your product or services. Thus, start investing small sums across a large number of influencers.
2. It Is An Expensive Strategy
Trust is not cheap, which means crypto influencer marketing is generally more expensive than other forms of paid advertising.
Crypto Influencer marketing statistics
Source: Linqia
- 65% of people are discovering new brands or products via influencers
- For 22% of 18–34-year-olds, significant purchase decisions have been shaped by an online influencer's endorsement
- The least developed influencer marketing sector is economy and Finance (52.7%)
- Fashion (81.4%) is the most-developed influencer marketing industry
- Most brands are spending less than $10,000 on influencer marketing
- 93% of marketers are using influencer marketing
- 89.2% of marketers who tried influencer marketing found it to be effective.
- Fashion (81.4%) is the most-developed influencer marketing industry
- 51% of marketers work with up to 10 influencers a year
- 84% of Instagram influencers are female
- Micro-influencer campaigns drive 60% higher engagement
How To Choose The Right Influencer For My Project?
Before choosing one, do the following:
- Identify Your Goals
Who is your target audience, and what are your specific goals?
- Calculate The Budget
Determine how much money you want to spend on short-term and long-term strategies.
- Use Social Platforms To Search For Influencers Manually
You can use Google to find listicles of the best crypto influencers. Another way is = to work with a crypto marketing agency to develop, manage and monitor your entire influencer campaign.
- Check The Audience Of The Chosen Influencer
Is this audience suitable for your project? Ideally, it is best to focus on audiences typically interested in sub-crypto topics such as NFTs, DeFi, Securities, Exchanges, etc.
- Do Your Own Research
Research the agency or influencer and make sure they are respected and ethical. It is essential to look at the number of followers and posts of the influencers. It is straightforward to purchase fake followers, and it can be challenging to spot the difference between legitimate accounts and garbage ones.
Platforms To Work With And Some Statistics
Youtube
- According to millennial consumer statistics, 40% of this demographic thinks YouTubers understand them better than their peers. (Source: MediaKix)
- A YouTuber with one to three million subscribers averages $125,000 per post. (Source: Zine)
- The price per post is usually determined by the number of followers and engagement rate. So nano- and micro-influencers make approximately $50 per sponsored post or receive freebies. On the other hand, one sponsored post brings in as much as $1 million to mega-influencers and celebrities. (Source: MediaKix)
- 55.4% of influencers use Instagram stories for sponsored campaigns. (Source: Emarketer)
You can also work with Podcasts platforms, TikTok, Twitter, and others.
Read more about marketing strategies in our Complete Crypto Marketing Guide.
FQA
What is crypto influencer marketing?
Crypto influencer marketing refers to collaborating with influential individuals in cryptocurrency and blockchain to promote and endorse products, services, or projects. These influencers use their online presence and following to create awareness, credibility, and engagement for the crypto-related offerings they support, often through social media, content creation, and other digital channels.
Is crypto influencer marketing risky?
Yes, crypto influencer marketing can be risky. Due to the cryptocurrency industry's relatively new and often complex nature, several risks are associated with this type of marketing. Influencers may lack expertise or provide inaccurate information, leading to misguided investment decisions by their followers. Additionally, the regulatory landscape for cryptocurrencies is evolving, and promotions that are not compliant with laws and regulations can lead to legal issues. Moreover, the volatile nature of the crypto market can result in unpredictable outcomes, affecting both influencers' credibility and investors' financial well-being. Therefore, careful due diligence, transparency, and regulation adherence are crucial when engaging in crypto influencer marketing.
What is the most valuable form of influencer marketing?
The most valuable form of influencer marketing is often considered to be authentic and organic partnerships. This involves influencers genuinely using and endorsing products or services that align with their personal brand and values. When influencers are sincerely connected to what they promote, their audience is more likely to trust their recommendations and engage with the content. This authenticity leads to higher levels of engagement, stronger brand affinity, and a more lasting impact on the audience. It also helps in building long-term relationships between influencers and brands, fostering credibility and mutual benefit.
How do you become a crypto influencer?
Becoming a crypto influencer involves several steps:
1. Develop a strong understanding of cryptocurrencies, blockchain technology, and the broader digital finance landscape. Stay updated with industry news, trends, and developments.
2. Start creating valuable and informative content related to crypto. This could include articles, videos, podcasts, social media posts, and more. Share insights, analyses, tutorials, and news to showcase your expertise.
3. Focus on a specific area within the crypto world, such as trading, investing, technology, regulations, or a particular cryptocurrency. This specialization can help you stand out and attract a targeted audience.
4. Regularly produce and share content. Consistency helps in building your audience and maintaining their interest.
5. Interact with your followers by responding to comments, answering questions, and participating in discussions. Engaging with your audience fosters a sense of community and trust.
6. Connect with other crypto enthusiasts, influencers, and professionals. Attend conferences, webinars, and online events to expand your network.
7. Be genuine and transparent. Share your personal experiences, successes, and even failures. Authenticity helps in building a loyal following.
How much do crypto influencers make?
The earnings of crypto influencers can vary widely based on factors such as their follower count, engagement rates, niche expertise, types of partnerships, and the overall demand for their content. While specific figures can fluctuate, here's a general overview:
1. Influencers with larger follower counts tend to have a broader reach, which can lead to higher earning potential. Those with hundreds of thousands or millions of followers are more likely to secure lucrative deals.
2. High engagement rates (likes, comments, shares) indicate an active and responsive audience. Influencers with strong engagement often command higher fees as brands value direct interaction with followers.
More About Crypto Marketing:
Crypto ICO Marketing: Strategies for Success in the Crypto World
Content marketing for crypto projects
A Step-by-Step Guide to Direct Messaging in Crypto Marketing
11 Innovative Methods to Boost Engagement through Social Media
Top 10 AI Products for Marketing and Management to Boost Efficiency
How Podcasts Can Help Your Business Grow
How To Create A Perfect LinkedIn Page For Your Business.
Successful Email Marketing For Crypto Projects.
What is a crypto Press Release and how to write it?
SEO Strategies For Your Crypto Business.
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