The Ultimate Guide To Crypto Growth Marketing Strategy
The Growth Marketing Strategies within the Marketing Funnel Structure
Have you ever read blogs and taken courses on eCommerce Marketing or Saas Marketing that went on to explain the same Marketing ideologies you know but from an eCommerce and Saas industry perspective?
Well, that’s kind of what Crypto Growth Marketing is.
Made up of Two Words “Crypto” and “Growth Marketing” explaining How growth marketing ideologies apply within the Crypto industry.
With this in mind, When we ask the question, What is Crypto Growth Marketing?… a simple answer would be;
It is a subfield of marketing that focuses on driving rapid growth for a Crypto brand. It involves using data gained through marketing campaigns and experimentation to drive growth and make constant improvements.
Growth Marketing in itself was coined, formed and defined by Sean Ellis, a former Marketer at Dropbox and LogMeIn.
He coined the term “growth hacker”, referring to the people who execute growth marketing and whose true north is focused on growth.
But he wasn’t alone in this, Andrew Chen also contributed to the development of growth marketing principles. He defined Growth Marketing as:
Growth marketing is focused on attracting, engaging, and retaining customers through relentless experimentation and a deep understanding of their changing motives and preferences.
From Andrew’s definition, and with the understanding that Crypto Growth Marketing is a compound word, made up of two separate words “Crypto” and “Growth Marketing”, we can also re-define it as
Crypto Growth marketing is focused on attracting, engaging, and retaining customers for cryptocurrency-related businesses and projects through relentless experimentation and a deep understanding of their changing motives and preferences within the Crypto Industry.
Now that drives it home.
Since we understand what Crypto Growth Marketing is, let’s take a look at some Crypto Growth Marketing Strategies that can help businesses and projects in the crypto industry acquire and retain users:
- Viral Loops and Coefficients
- Perform A/B tests
- Social Media
- Conversion-geared website
- PPC Ad campaign
- Partner with a crypto marketing agency
- Key Opinion Leaders and Influencers
- SEO Content Marketing
- Referral programs
- Email marketing
- Airdrops
- Community Building
- Data Analytics
- Pivot and Iterate Quickly
These are some of the crypto growth marketing strategies that Crypto brands and projects can use to attract and retain users.
With the understanding of how Funnels work, from the Top Funnel, Middle Funnel and Bottom Funnel, each of these strategies can be fitted within these three funnel stages.
Here’s what I mean, Community Building or email marketing starts at the Middle funnel because they are retention channels within the funnel, Understanding this will help you optimise these strategies better when applying it
It’s also what we are going to look at next, The Growth Marketing Strategies for Crypto Brands, within the Marketing Funnel Structure
The Crypto Growth Marketing Strategies Within the Marketing Funnel Structure
The goal of Growth Marketing is primarily to increase the Visibility, Awareness, traffic generation and retention of any brand using growth strategies that are applied to online channels.
A good question to ask is, how does each growth strategy drive these actions — Visibility, Awareness, traffic generation and retention — to the end goal of sales?
The answer to that is called the Marketing Funnel.
Its job is to act as the itinerary plan of the customer on his/her journey from seeing the Ad to buying the NFT or Token.
Within a Marketing Funnel, there are three primal stages, Top, Middle and Bottom, highlighting the certain Growth Strategies that should be happening within each Stage, or across each stage.
All of this culminates to the point where we can sustainably increase the Visibility, Awareness, traffic generation and retention of a Crypto brand.
How does that work? Well let's look at the Growth Marketing strategies using the lens of a Marketing Funnel to explain each of them, starting with
Top Funnel Crypto Growth Marketing Strategies
The Top Funnel is the first stage in the marketing funnel, we can define or describe the TOF as
The marketing channels and strategies that are designed to create awareness about a brand or product.
The primary goals of marketing at the top of the funnel are awareness and lead generation, to get as many new visitors as possible and push them down to the middle or bottom of the funnel.
From the definition above, TOF is the assumed first step in marketing that is designed to generate high-traffic acquisition with the help of Channels and strategies.
What are the Top funnel Growth Marketing Strategies for Crypto Brands? They include;
- Online Events (Twitter Spaces, Instagram Live, Youtube Live, Twitch Live etc)
- B2B Collaboration, Integration and Partnerships
- Social Media Management and Engagement
- Paid Advertising
- Influencer and KOL Marketing
- IRL Events (Crypto Bootcamps, community events etc.)
- SEO Content Marketing
- Reddit Marketing
- Telegram Marketing
- PR Campaigns
- Email and Newsletter Marketing, etc
These are Top Funnel Marketing channels, and when applied properly with the right strategy, they can generate high-traffic acquisition into your business
This allows you to get more leads, book more meetings and calls, grow your community members' count etc.
Middle Funnel Crypto Growth Marketing Strategies
The Middle Funnel is the Second stage in the marketing funnel. Unlike the Top Funnel which focuses on traffic acquisition, the Middle Funnel shifts focus towards Retention
It’s the stage in the customer journey where leads (generated from the TOF) are in the consideration phase and are contemplating your crypto product solutions to their problem.
At this stage, leads are already aware of your brand, they have seen your Advertising (from TOF) and possibly joined any of your retention channels like your community on Discord or your email list
The defining feature of middle funnel content is that it’s driven toward lead nurturing in the community.
The Middle Funnel happens in the community; to build retention and to establish extended engagement and trust-based relationships with your captured audience
Community Building is a primal Growth Marketing Strategy for Crypto Brands in the Middle funnel, but this strategy requires channels & tools like
- Retention Programs with tools like Zealy
- Loyalty and Referral Programs built with tools like Chainvine
- Educational Programs with tools like rabbitGG or Ayerxyz
- Online/IRL Games, events, AMAs etc
- Hackaton Events to encourage developers etc
The middle funnel is where you bridge the gap between the top of the funnel (awareness) and the bottom (decision and conversion).
These strategies, channels and tools help you build that retention needed for your community members to make decisions about your product.
Bottom Funnel Crypto Growth Marketing Strategies
The Bottom Funnel is the last stage of the marketing funnel and the objective at this stage is decision & conversion.
The Top Funnel has generated targeted leads who become community members,
The Middle Funnel has retained these leads to establish extended engagement and trust-based relationships with them
The Bottom Funnel’s Job is to get these leads to make a decision, to Mint that NFT, to Join that ICO or Presale and Buy that token, to attend that event, to primarily take an action.
How does that happen? How does the BOF make people take action?
Well, it doesn’t. Because at this stage, the community members have already gone through the awareness and consideration stages, they will choose whether or not they want to take the action
What Bottom funnel Marketing does is to provide decision-enabling content that helps them confirm their choice and avoid buyer’s remorse/objections/
These contents are designed to address the pain points and objections of the members and provide them with the information they need to make a purchase decision using channels like
- Series of AMAs leading to Mint
- Optimising the CRO on the Mint Landing Page
- Product demos before Mint
- Setting up Guarantees
- Free trials or gifts as perks for purchase
- KOL UGCs on the product before the Mint, amongst others
The bottom of the funnel is where you convert leads into customers.
You might think this is the last stage of the community member journey, well that’s not the case, this is now the beginning.
After Mint, a lot happens next, let's just call them the Post Purchase experience of your community members.
This experience is as important as the Marketing funnel that led them to buy your NFTs, tokens or subscribe to your product.
It is what ensures they continue using your product, and hold on to your NFT or Token … it is what causes high product retention rates, which leads to high community member Lifetime value etc
Conclusion
In conclusion, the marketing funnel is a theoretical customer journey that outlines the steps a potential customer takes to convert into an active customer.
The funnel is divided into three stages: top, middle, and bottom.
Top-of-funnel marketing is all about creating awareness and generating leads. Middle-of-funnel marketing is where leads are in the consideration phase and are contemplating solutions to their problem. Bottom-of-funnel marketing is where leads are ready to make a purchase decision.
Each stage of the funnel requires different marketing tactics and content types to move leads down the funnel towards conversion.
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