The prospects and popularity of cryptocurrencies have blossomed and created a global digital market in which entrepreneurs make huge profits. The market offers a lot of business opportunities including (but not limited to) the trading of cryptocurrencies, Initial Coin Offering (ICO), and running an exchange or a cryptocurrency brand. The crypto marketing business sees profit-making as it’s primary aim irrespective of whichever aspect an entrepreneur decides to focus on. Testimonies abound of entrepreneurs who (through cautious systematic approaches) have achieved this aim with their fortunes greatly turned around for the better.
However, the crypto market – just like any other business venture is not without significant risks. These risks are sometimes connected to the volatile nature of cryptocurrencies. However, most often, rsks are increased by mismanagement stemming from inadequate knowledge and skills on the part of entrepreneurs. The market experiences regular corrections within a few hours which could leave inexperienced investors counting their losses.
Although the economic law of demand and supply generally governs the crypto market just like any other market, there are still rules to make a success from the market. In other words, for anyone to succeed in the crypto market, they will need to play by the rules in order to hold onto gains and minimize losses. This article discusses eight proven and acceptable ways to make crypto marketing a success.
1. Personal research
It is critical that you educate yourself on the developments in the marketplace. Accurate knowledge of the historical background, present analysis and future predictions are crucial. There are a plethora of resources online where you can acquaint yourself with the necessary information – however it is advisable that you look for credible sources. There are also credible experts you can follow on Twitter and other social media platforms who provide advice on when, where and how to buy and sell. But this advice should not take the place of your personal research.
Remember it is your money you have invested and in the event of losses, it will be your money that will be lost. This makes it absolutely necessary for you to be on top of your game in information gathering through personal research. Be voracious with crypto market news. Analyze information gathered from different sources so as to form your own opinions and understand the opinions of others. This will enable you to make informed decisions.
2. Minimize your risks
On many occasions, the quest to make huge profits from the crypto market becomes the undoing for most investors. It is strongly advisable not to be too greedy. Never wait for the uncertain ‘peak’ moment before you take your profit. Greedy investors usually turn out to be heavy losers. Take your profit in comfortable margins, keep your profit and minimize your loss, this way you will hardly go wrong in the market.
3. Trade only what you can afford to lose
There are a handful of stories of people who have lost lifetime fortunes from the crypto market. The volatility of the market cannot be overemphasized here. Even the best traders and experts lose money from the market. Remember you can also incur losses from the fraudulent activities of scammers. The magic word to prevent such occurrences is caution, caution and more caution! It is therefore advisable you only invest what you can afford to lose and not committing your life savings in the market hoping to make huge profits.
Avoid making hasty investment decisions as a result of Fear of Missed Opportunity (FOMO). Opportunities arise daily in the crypto market. In addition, investing early sensible amounts will also give you the necessary confidence required in the market. This is because you know that you have little or nothing to lose if your investment has a negative turn around.
4. Social networks
The use of social networks will help promote your brand faster and to a broader audience as well as attract more investors to you. Social networks have proven to be a veritable tool for business marketing and crypto market promotion. You can advertise your ICOs and other crypto market products using the many available social networking platforms like Telegram, Whatsapp, LinkedIn and Reddit. Facebook has recently banned crypto market adverts on its platform, but Facebook is one medium out of many. Seize the possibilities and prospects available from many social media platforms to sell your crypto brand and drive your crypto marketing to success.
5. Create a website
You certainly need a website in order to make your crypto marketing a success. It would be much easier to attract more investors, manage them and market your crypto brand through a website. It is advisable you make your website easy to navigate so that information about you and your brand can easily be sourced. Keeping your information simple and straightforward will allow you to appeal to both novices and experts alike. Pay attention to traffic generation strategies to support your website. Pictorial representations will make your presentation of technical issues simpler and easier to understand. Use pictures and videos where necessary and in general make your site engaging and interactive.
6. Be Sincere
Sincerity is a very valuable strategy to succeed in the crypto market. If you must make promises, ensure you deliver on them on time and do not cut corners. This will help grow investors’ confidence in your crypto brand. Avoid known practices such as buying fake followers and creating multiple accounts to give the impression of high traffic on your platform. Also, do not buy into software that seeks to achieve the same purpose. Engaging in these acts will only leave you shooting yourself in the leg when you finally accept the fact that despite the huge number of followers on your platform, the percentage of real followers is very few. The heavy traffic you intended to build will not only elude you but investors will soon find out and regard your brand as dubious.
7. Effective management of your community
Having traffic on your platform is essential. Managing the traffic effectively by constructively engaging the investors is even more critical. This is because if they realize over time how informative and responsive you are to their concerns and issues, they will market your brand much more than you can ever do. Try your best to make them understand that you are there for them. Remember they consider you the expert, therefore be available and provide answers to their questions and uncertainties.
To manage your investors effectively, you must apply yourself to continuous study through personal research and by keeping up with the developments in the crypto market. Attending and participating in conferences, workshops and seminars will not only keep you more informed to manage your platform, it will also go a long way in promoting your brand.
8. Regular evaluation
You need to periodically assess your performance with the view of identifying pitfalls and strengths so as to improve on them. Give yourself measurable targets with timelines as well as Key Performance Indicators (KPI) to evaluate your business. These KPIs will vary depending on your crypto market focus. It may range from the traffic on your website, to your trade volume or the number of investors who have bought your currency. Whatever the case may be, be sure to find out what the KPI’s for your focus is, use them regularly for evaluation purposes and use results obtained to improve your overall business.