What Are the Hallmarks of a Top Crypto Influencer Marketing Agency?
One of the key components of striking gold in the crypto industry is marketing. Over the years, influencers have emerged as kingmakers due to their large audiences and the trust placed in them by their viewers/listeners. As a result, several influencer marketing agencies have sprung up from many corners of the web. But what separates the boys from the men? What are the hallmarks of a top crypto influencer marketing agency?
This article will answer these two questions in detail and give you a perspective on the power of influencer marketing.
Before the dive, let’s take a brief look at a crypto influencer marketing agency.
What is a Crypto Influencer Marketing Agency?
One can argue that the definition of a ‘crypto influencer marketing agency’ lies in the name. A crypto influencer marketing agency is a firm that works with crypto projects and influencers to run marketing campaigns on social media and other platforms.
It is a known fact that working with top blockchain influencers can go a long way in promoting a cryptocurrency project. At the same time, influencer marketing has become a boom in the crypto industry but it has not been without its fair share of controversy.
With that said, let’s look at the fabric that holds a top crypto influencer marketing agency together.
What are the Hallmarks of a Top Crypto Influencer Marketing Agency?
The characteristics of a leading crypto influencer marketing agency are listed below.
The characteristics of a leading crypto influencer marketing agency are listed below.
One of the biggest traits of a top crypto influencer marketing agency is that it has a growing network of micro and macro influencers. To be fair, there are different kinds of influencers. They range from mega, macro, micro, and nano. You can even add a fifth type if you want but that’s a story for another day.
A mega influencer usually has 1 million followers or more. A macro influencer has 100K – 1 million followers while a micro-influencer has between 10K – 100K followers. A nano influencer sits at the bottom of the pack with less than 10K followers
This distinction is very important because it determines pricing and target audience. This brings us to the question of why a leading crypto influencer marketing agency needs to have all kinds of influencers.
Let’s use CryptoPromo, a crypto marketing agency that connects promising blockchain projects with top crypto influencers, as an example.
CryptoPromo works with all kinds of legitimate crypto projects with different budgets and target markets. While mega influencers have a wide reach, they are also very expensive. CryptoPromo works with influencers that also fit projects with smaller budgets.
This is also handy when a crypto project wants to target an audience in a certain geographical area. Micro-influencers can be the way to go as they have a more targeted audience.
CryptoPromo’s growing network of influencers is exactly what the doctor ordered for projects that want to succeed through effective influencer marketing.
Organization and Sense of Continuity
A top crypto influencer marketing agency has a high level of organization that prevents marketing campaigns from becoming disasters. How so?
Dealing with influencers is not as easy as it looks. There is a need for follow-ups and punctuality. If influencers are not paid on time, they may decide to disengage or pull out of the deal. This is not an ideal situation as it could force token/NFT buyers from losing confidence in the project. It may be difficult to do some damage control from there.
To be fair, the majority of influencers are not committed to a single project. They offer their services to whoever can pay what they are looking for. This means that they may forget to carry out agreed-upon milestones.
This is where a top crypto influencer marketing agency is needed. The agency will coordinate with the influencers to ensure that all the milestones are achieved on time.
A crypto influencer marketing agency makes sure that the whole process of hiring and working with influencers is as smooth as possible.
Communication is the Middle Name of Any Top Crypto Influencer Marketing Agency
All big marketing campaigns require timely and effective communication. Influencer marketing campaigns take a long time to develop and implement.
The most important thing throughout this stage is top-level communication that keeps all the involved parties in the loop. There are times when a crypto influencer marketing agency needs to be tough with influencers, but not alienate them.
This is where you need to work with an experienced crypto influencer marketing agency that knows how to handle such situations.
Clear communication is also important because influencers need to be aware of what is expected of them. This makes the influencer marketing campaign effective, smooth, and transparent.
A Top Crypto Influencer Marketing Agency is Social Media Savvy
Social media marketing is not that simple. There is no formula to it. What works for one project may not work for another project.
This is where you need a creative crypto influencer marketing agency that knows when and how to tweak social media campaigns.
Why is social media marketing important when it comes to influencer marketing?
An influencer marketing campaign consists of several stages. A good marketing campaign can start by teasing an influencer partnership before it is officially announced. This gets the community excited and talking about what’s coming ahead.
When the partnership is announced, it is important to amplify the announcement so that it reaches all corners of the internet.
The same needs to be done long after the partnership is announced. Social media marketing should go hand-in-hand with influencer marketing.
Avoids Shady Crypto Projects
The crypto industry is full of scams and rug pulls. In 2022 alone, more than 117,000 scam tokens were launched. It is estimated that 15 new scam tokens are detected on an hourly basis while 2 million investors have been fleeced by rug pulls.
What is even more shocking is that some influencers have been used to promote these shady projects. A top-tier crypto influencer marketing agency shields its influencers from working with rug pulls and scam pulls. This requires the marketing agency to do due diligence on the crypto startups that approach them.
Social media influencers are being paid thousands to promote shady projects that eventually burn their investors. It is refreshing to note that some influencers and celebrities have no appetite for doing business with suspicious projects.
It is reported that Taylor Swift didn’t sign a $100 million sponsorship deal with the defunct FTX exchange because she asked about unregistered securities.
A good crypto influencer marketing agency asks questions on behalf of its clients. Influencers who promoted FTX were slapped with a $1 billion lawsuit.
Influencer marketing agencies are supposed to know the law when it comes to endorsing projects.
Works with Reputable Influencers
A good crypto influencer marketing agency should work with reputable influencers who know how to conduct themselves very well.
The world is suffering from cancel culture This is important because there are only a few companies that can survive from associating with ‘canceled’ influencers. It must be noted that this article does not discuss the merits (or lack thereof) of cancel culture.
Marketing agencies need to work with influencers that don’t attract controversy as it can be costly to companies associated with the controversial figures. In 2022, German sneaker giant Adidas cut ties with Kanye West over anti-Semitism. Adidas was hurt by severing ties with West and it is estimated that the split would cost the sportswear brand $771 million.
Although this is not related to crypto, it shows that projects need to work with influencers that won’t cost them down the road.
Knows How to Handle Influencer Marketing
Influencer marketing is lucrative when done right. However, it can backfire if the important aspects are overlooked.
In 2021, several celebrities were called out for promoting the cryptocurrency Tron (TRX) without any disclosures.
This kind of action usually has the opposite effect. They are not helpful and will likely cause token buyers to stay away from the cryptocurrency (or NFT) project in question.
Final Thoughts
The cryptocurrency industry has seen it all – the good, the bad, and the ugly. New projects with hardly any functional product or revolutionary idea can grab all the headlines and see their market cap rise more than ten-fold overnight if they get right on marketing.
Influencer marketing is a great marketing tactic that can breathe life into a crypto/NFT project. However, crypto and NFT projects need to work with top crypto influencer marketing agencies if they want to maximize their return on influencer marketing.
If your crypto project is on the hunt for a reputable, experienced crypto influencer marketing agency, don’t look any further than CryptoPromo. Get in touch today and see first-hand how CryptoPromo can help your project take a giant leap in the right direction.
