Editors' note: This post was originally published on November 07, 2021 and has been revamped and updated for accuracy and comprehensivenes.
Influencer marketing is a popular strategy in digital marketing, and its popularity has extended to the blockchain space as well. An influencer builds trust and relevance between a brand and its target audience. Many cryptocurrency businesses are already engaging with influencers and influencer marketing agencies in order to bring the audience’s attention to their product.
In this article, we will go over what influencer marketing is and how to identify the ideal influencer for your crypto project in order to boost brand traction and generate leads for your product.
What exactly is influencer marketing?
Influencer marketing includes a brand working with an online influencer to promote its products or services. Influencers, unlike celebrities, can be anyone. Influencer marketing is more than just finding someone with an audience and offering them money or exposure in exchange for promoting your product.
An influencer is someone who has the ability to:
- Influence the purchasing decisions of others through their knowledge and authority in their niche, along with their relationship with their audience.
- Has a following in a specific niche that they actively engage with through various means.
In today's world, social content creators with niche following might provide more value to brands than celebrities. An influencer has the ability to persuade people's opinions on the internet.
You can work with influencers to increase brand recognition by:
- spreading the word about your product or business.
- Generate leads for your business.
- By becoming a brand spokesman.
Why do you need influencer marketing?
With the development of projects in cryptocurrencies and blockchain technology, crypto brands must spread the word about themselves in front of their audience, and the suitable influencer can build a buzz around your brand and product.
Working with influencers can benefit your brand in the following ways:
- In terms of ROI, this is one of the best digital marketing methods.
- Increase your audience size.
- Create trust in your brand.
- Increase the number of people who follow you on social media.
- Boost the traffic to your website.
- Generate more leads.
- Boost your product sales
Types of influencers
There are four types of influencers based on their number of followers:
1. Mega Influencers
Follower count: 1M+
These are usually high-profile celebrities who can help your crypto project reach a wide audience. If you want to collaborate with a mega-celebrity in your industry, you must have a sizable marketing budget. Mega influencers are well-known personalities in your industry, so finding them should be simple.
If you're planning to expand your brand exposure, go beyond your industry to discover your audience, and have a big marketing & advertising budget, mega influencers can help you get your brand and product in front of as many eyes as possible.
2. Macro Influencers
Follower count: 100K-1M
Typically, macro-influencers are internet-made celebrities or social media stars, bloggers, vloggers, and podcast hosts. These influencers have a large audience that they have built by nurturing relationships over the years or months. Macros influencers tend to have a broader appeal, however, because of the large following they most probably will have relatively low engagement rates.
Macro influencers are great for creating awareness for your crypto brand and the services that you are offering. You can collaborate with macro-influencers to increase your engagement rates and boost your brand reputation.
3. Micro-Influencers
Follower count: 10K-100K followers
Even if micro-influencers have a vast following, they are still likely to be relevant to their audience, with high engagement rates and a targeted demographic. Because these influencers tend to specialize in a specific area, it is critical that you check to see if the influencer works in the same niche as your crypto product.
If you want to generate more personalized leads for your business, you might consider working with micro-influencers. The audience that follows these influencers is primed to hear marketing messages from them as well.
4. Nano Influencers
Follower count: 1K-10K followers
Nano influencers have a very close relationship with their followers because of their limited audience size. Nano influencers often have high levels of engagement and are vocal and genuine about the brands and products they love.
If you've just launched your product, you're probably working with a limited marketing budget. If you want to attract an audience that can invest in your tokens or utilize your product, nano influencers are a low-cost way to get started with your influencer marketing campaigns.
How can you find the best blockchain influencers for your project?
Influencer marketing is more than just identifying someone with an audience and working with them to get them to say nice things about you. When looking for the appropriate influencer for your blockchain product, you must consider a number of factors. Let's take a closer look at how to locate the best crypto influencers for your blockchain project:
1. Before you start planning your influencer campaign, define your goals.
When developing your influencer campaign, it is important to have a clear goal in mind. Assume you want to create high-quality leads for your business. You can create lead-generating content for your brand by collaborating with micro-influencers. However, if you want to raise brand awareness, you can work with macro or mega influencers to reach a larger audience and expand your reach.
2. Focus on relevance to your target audience
Putting oneself in front of the right people is essential for an effective influencer marketing strategy. Collaborating with an influencer who has a large number of followers at random will not produce desirable results for your brand. As a result, you must identify the influencers who are relevant to your product, service, or industry. Their target audience should be related to yours. Only then will you be able to leverage influencer marketing to grow your business.
Collaborating with a travel blogger to explain cryptocurrency might not be a good fit unless your product or service is related to the travel industry, or the blogger holds some kind of authority in the crypto industry.
3. Understand the authority and authenticity of the influencers in your niche
Influencer marketing is all about the partnership between your brand and the influencer. As a result, it's critical that the influencer not only shares your brand's value but also is genuine and has some authority and knowledge in your area or business.
Remember that followers and reach aren't the only things to consider when it comes to influencer marketing. To obtain the best results from your influencer marketing initiatives, work with influencers who can effectively engage your target audience with your business.
4. Check the influencer’s stats
You might be tempted by an influencer's number of followers. However, make it a point to ask about their stats to ensure that, in addition to the number of followers, the influencer has an engaged audience rather than a weak following. Aside from engagement metrics, one key element to evaluate is the influencers' previous campaigns. It is critical to examine how past campaigns were promoted and the metrics associated with such initiatives.
Finally, don’t hesitate to reach out to an agency.
Influencer marketing works, and blockchain projects should consider launching a crypto influencer marketing campaign. You may believe that you can choose the ideal influencer on your own. However, there are certain minor things that you may ignore when seeking an influencer.
It's always a good idea to get advice from someone who is an expert at influencer marketing. We will make sure that the influencers we choose for your blockchain service are dependable, real, and trustworthy, and that they are a good fit for your brand voice and can produce results for you.
Simply get in touch with us to get your influencer marketing campaign up and running.
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