The crypto market is flooded with new projects now and then. However, launching a project is one thing and marketing it another. There is extreme competition in the crypto space, and thus a fool-proof strategy is vital for a project to succeed. That said, traditional marketing methods seem to work for a lot of products, but can that also apply in the cryptoverse?
Ever since cryptos were invented, the most popular marketing strategies have been digital marketing like social media, press releases, paid promotion, direct messaging, web design, etc.
The debate on whether traditional marketing can promote crypto projects is long and lasting. In this guide, we will focus on whether these traditional strategies can boost awareness of crypto projects. So read on!
What is Traditional Marketing?
Simply put, traditional marketing is any strategy that is not online. This refers to print media, billboards, direct mail, posters, mobile phones, etc. It is one of the oldest and most researched marketing methods.
Traditional marketing plays a crucial role in reaching local audiences. Everyone comes across some conventional marketing in their day-to-day lives, whether radio, reading mail, or the newspaper.
How Traditional Marketing Can Help Promote Crypto
Here are some reasons why traditional marketing cannot be completely ruled out as a marketing strategy for cryptos:
Spreads out to All Demographics
An effective marketing strategy targets the largest audience to develop the most interest with little investment. Hence, investing in several plans means that you can gain value for your capital investment.
About 7% of adults in the US do not use the internet. The statistic reflects a vast audience that is not on social media and does not search on Google. Therefore, it may be challenging to reach this audience via digital marketing. Nonetheless, that is where brochures and printed leaflets reach a broader audience with excellent efficiency.
Moreover, most of the competition exclusively markets via the internet; hence traditional marketing can help distinguish your brand from the crowd.
Can Blend with Digital Marketing
Traditional marketing can be seamlessly fused with online marketing by putting QR codes on posters, billboards, or posters. These QR codes lead directly to social media content related to respective crypto projects. Other online/offline integration methods are offline call-to-action, television and radio ads (provided you have a unified branding across the board).
Traditional Marketing Institutes Trustworthiness
From a psychological view, traditional marketing provides a company with more trustworthiness from the public compared to digital marketing. Without a doubt, online marketing reaches more people, but it does not always paint a brand as dependable or reputable.
Printed materials are usually more reliable because traditional means are often associated with established companies and bigger budgets. For a company to have an ad in a newspaper, a magazine, or commercial on TV and radio, it should have the financial capability. Therefore, the general perception is that the company is developing, stable or prosperous.
Promotion Materials are Sustainable
A major drawback of online marketing is that you require an ongoing stream of promotional material to maintain your viewer’s attention and relevance. The parameter varies from posting a new video daily, sending emails regularly, or posting two to three times.
However, traditional marketing is more workable, and it leaves a longer-lasting impression on your target audience. Therefore, it is not necessary to produce new material now and then to promote the projects.
Accommodates People with Special Needs
Traditional marketing is excellent for promoting crypto projects to people with unique needs. For instance, one can promote a crypto project to blind people by using media such as radio. Online marketing does not put any consideration into people with special needs.
Why Traditional Marketing is Not Always Effective
Despite the commendable opportunity traditional means provides for crypto projects, certain drawbacks may render its effort futile. Here are some disadvantages of traditional marketing:
It is Costly
One major problem around traditional marketing is that companies incur excessive costs. For example, marketers have to pay hundreds or thousands of dollars for a concise live TV or radio session.
It could cost as much as $1,000 to advertise on a billboard and reach about 700 people per day with no control over demographics. Radio adverts range from $200 to $5,00 per week depending on the advert, location, time, and station.
Therefore, using traditional marketing is not always recommended for new crypto projects. It could, however, have a better effect on developed cryptocurrency projects.
Traditional marketing takes longer to execute and refine. An ad requires some time to edit, print and fine-tune. The time is necessary because the ad needs to be perfect as marketers cannot change colour, font, or word afterwards. However, digital marketing can affect changes and edits in real-time to enhance efficiency.
Gradually Loses Audience
Conventional marketing strategies are gradually losing their audiences. More people rely on the internet; hence it would make more sense to promote crypto projects via online methods. To be specific, about 59.5% of the world’s population uses the internet today.
Online marketing presents a chance to get a viral impact, especially if it is an idea that has never come to light before.
Can They Be Integrated to Work Together?
The short answer is Yes. However, you cannot DM a particular print ad, but you can follow social media, sign up for newsletters, or subscribe to emails. This way, the older adults who prefer flyers or coupons in the mailbox and millennials who prefer social media marketing will get the same information.
Hopefully, this guide has answered your question as to whether traditional marketing methods can help promote cryptos.
Times are changing, and it is best to embrace change because it is inevitable. The best way to go about your crypto projects marketing is to find a perfect balance between conventional and digital marketing. This way, you can reach a wider audience simultaneously.
No method is flawless. You only need to weigh the pros and cons of each before settling on a particular marketing strategy. Be sure to go for one that reaches the target market efficiently at manageable costs.