New ways to market the crypto industry are being found and used daily. You could be missing out if you’re not implementing the most current marketing strategies. Crypto influencer marketing is one of those strategies that helps businesses gain a competitive edge.
However, not many people know exactly what influencer marketing is or how to best use it. One of the most important aspects is picking an influencer who aligns with your target audience and helps grow your crypto brand awareness.
That’s why we’ve gathered the best tips to help you find the right crypto influencer for your project.
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Why Is It Important to Choose the Right Crypto Influencers?
The global influencer marketing market is forecasted to reach $22.2 billion by the end of 2025, which is double the value of the market in 2020. This indicates that influencer marketing is growing in popularity at such a high speed that most, if not all, industries leverage influencer marketing.
Nonetheless, finding the right influencer for your marketing campaign isn’t easy. You need to undergo a ton of market research to ensure you’re investing in an influencer who has a considerable audience a steady public reputation, and fits with your campaign objectives.
Picking someone who doesn’t align with your company’s brand can tarnish your reputation and public image, which will only hinder the crypto project you’re trying to promote. When you pick the right set of influencers, you can spread awareness about your crypto project, bring in new clients, gain a list of crypto bonuses, and provide healthy ROI.
Influencers don’t come cheap. That’s why you want the money and effort you’re investing in influencer marketing campaigns to yield positive results for your crypto project and overall brand.
Best Practices: How to Choose the Right Crypto Influencer
We already understand how important it is to work with the right influencer, but how do you choose them? Here are some top tips to ensure you choose the right crypto influencer for your project:
Outline Your Campaign Objectives
Your first step should be to set your objectives for your crypto project. From here, you can highlight how you’d like your chosen influencer to help achieve these objectives.
You won’t have a successful influencer marketing experience if you’re unclear about how you’d like your prospective influencer to promote your crypto project. Some of the most common goals associated with a crypto project are to:
- Generate leads.
- Build brand awareness.
- Boost followers and engagement across your company’s different social media platforms.
Pick the Best Channels to Market Your Project
When you’ve clearly outlined your crypto project campaign’s goals, you can begin identifying the social media platforms you’d like to market your crypto project on. Various marketing channels are available, such as blogs, social media, and email marketing.
You want to pick the marketing channels where you can reach your target audience. These channels you choose can also help you understand what type of influencers to pick.
X (formerly Twitter) influencers won’t create high-quality short-form video content, and YouTube, Instagram, and TikTok influencers won’t contribute to writing blog posts for your brand. That’s why you want to identify your ideal marketing channels and then find the influencers on those respective channels.
Make a List of Potential Influencers
Once you’ve defined your objectives and outlined the marketing channels you want to promote your crypto project on, you can start researching for suitable influencers. Your goal is to be active across various video-sharing and social media platforms.
Look for any influencers who are promoting crypto projects that are like yours while also having access to your target audience. With this list, you’ll have a good idea of the influencers you can partner with.
Your influencer marketing budget should also align with the types of influencers you want to work with. If your crypto project is smaller and limited in resources, you might not be able to afford to partner with a macro influencer. However, if your project is more developed and you have a decent budget, a smaller influencer might not deliver the best results. And be sure to add a disclaimer about responsible gaming.
Analyze Your Prospective Influencers’ Profiles
With your list of potential influencers, you want to analyze their profiles to ensure you partner with the right public figure for your campaign. Here are some crucial elements you need to consider:
- Engagement Rate: This measures the level of interaction followers have with the specific influencer. You want to pick an influencer with a good engagement rate, as this indicates how these influencers will respond to the content promoting your crypto project. Poor engagement levels can indicate that the influencer has fake followers or poor content, which you want to avoid. Very high engagement rates can also indicate that engagement is bought, which you also want to avoid.
- Past Campaigns: You want to look at the influencer’s past campaigns to see how successful these were. Doing this helps you estimate how successful your campaign will be with the same influencer to see if partnering is worthwhile. You should also make sure these past campaigns are in the relevant industry, as this speaks to the target audience.
- Following/Follower Ratio: Influencers with a ratio that’s the same or higher than one can mean that specific tactics are being used to grow their account. One common tactic is called “follow and unfollow,” which helps influencers grow their account by following someone to have them follow back and then unfollowing that same account. This is a poor growth strategy because it leads to poor engagement results even though it boosts their follower count.
Concluding Thoughts
The marketing world has drastically changed over the years. Running ads and crafting clever content won’t work anymore. Crypto businesses now need to build a community where they are authoritative figures.
Influencer marketing is one of the most important marketing strategies where businesses can organically build their brand awareness and grow their audience. When a business partners with the right influencer, crypto projects are more likely to be successful.
However, picking an unsuitable influencer can result in a negative brand image and a failed crypto project. That’s why you need to pick wisely or see your crypto project’s demise.