Blockchain technologies are finally becoming a reality after years on the fringe. Most of all the media attention has been focused on the speculative price bubbles in cryptocurrencies, and it seemed like the mythical “blockchain” technology was too complicated for the layman to understand, limiting the appeal of the technology. Recent developments, however, have shown that blockchain is moving out of obscurity and finding some real applications in the real world. Speculation about the future of blockchain and its viability will continue, but now people are taking it seriously, it’s the perfect time to get involved in crypto affiliate marketing.
Targeting your Niche
As much as any of us would like to believe that blockchain is heading for mass popularity, right now it remains a niche subject mostly discussed by people involved in developing it and the companies and followers who want to employ it. The result is not your typical target market, but that can work in your favor.
Who are you Aiming at?
The actual population of people who genuinely understand blockchain and crypto technologies is very small. They are a technically proficient, usually qualified, and are getting better at spotting which technologies will succeed. Advertising to this group is not as trivial as persuading couch potatoes to buy bigger televisions, and it requires a real understanding of current events and the psychology of the market.
What are Crypto People Doing?
Nearly every trading option available for standard money is now available to blockchain and cryptocurrency technologies. Have a look online for guides to how the trading markets work.
It did not take long for brokers, casinos, lotteries, and other gambling businesses to allow people to gamble on cryptocurrency prices. Then the ease of doing business in cryptocurrencies made it relatively easy to let people play and bet using their crypto tokens without the expensive step of converting them. This is an expanding field and is ripe for investment: the price of gambling is much lower with cryptocurrencies. However, the legality of crypto gambling is still being debated, so expect some knocks from regulators.
For any advertiser in this market, Initial Coin Offerings, or ICOs, are prime targets for effective marketing. Generating hype for a coin is vital to its survival, so there is a substantial market for effective advertising strategies for ICOs.
Regulations are continually changing, and regulators around the world are struggling to keep up with current developments. Expect changes in the rules and try to anticipate them to lessen the shock.
Advertising to the Crypto Markets
Advertising to the crypto markets is niche but rewarding. Much of the existing marketing techniques are not new: CPA or revenue share bases are standard, extracting a commission from the first transaction or other methods. There are lots of opportunities for lead conversion: email addresses and cookies can be used to track conversions. However, this is a more privacy-minded community, and they might not be as active here as elsewhere.
Areas of Interest
The mobile market is the prime market for affiliate marketing. Mobile phones are secure enough now to have mobile cryptocurrency wallets to quickly and securely store cryptocurrencies. Getting one is easy. Then mobile marketplaces are the way many non-institutional investors access the markets, and finally, the cellular marketing/analysis tools available provide ample space for advertising and data gathering.
An especially crucial recent development has been faucets, which deliver a set amount of cryptocurrency or a token to an address upon completion of a task. That could be watching a video, completing a game, or performing specific tasks. This is ripe for monetization.
At the same time, it is easy to set up cryptocurrency offers; in exchange for cryptocurrencies, customers get access to exclusive content.
Advertising now and in the future
Facebook banned advertising cryptocurrencies for a long year, now they have softened their approach (presumably in favor of their cryptocurrency, the Libra). The ban cut off a huge source of advertising for investors. However, there are other routes to take to get to your target audience. Twitter is useful but oversaturated, Reddit has a devoted following but a lot of skepticism and echo-chamber effects that make it hard to advertise to. Exchanges are expensive but effective to advertise with.
The best approach? Push notifications. Tell people what is happening directly and gobble up the data and conversions.
The crypto market is not so different from traditional affiliate marketing areas. It’s just a niche, rapidly evolving, and highly technical. Be prepared!