Influencer marketing for blockchain projects | by Majinx Agency | Jun, 2022

The crypto environment might be a fast grower, yet it’s still a tight-knit community, where word-of-mouth remains one of the top marketing strategies. Whether you’re preparing for a product launch, trying to attract participants for an ICO/IDO event, or looking for a way to grow the liquidity of your token, you’ll find promoting your product via key opinion leaders (KOL) time-consuming yet cost-effective.

In this article, we’ve tried to explain the importance of influencer marketing for NFT, DeFi, and GameFi projects and provide a starting guide for creating a personalized strategy. Of course, if you’d rather spend time developing your product, you can always delegate all your marketing efforts to Majinx professionals.

Influencer marketing is among the most actively used tools for promoting blockchain projects. Even during the bear market, the demand for native posts rarely subsides. But why is that?

The blockchain community is riddled with different kinds of scams. So, transparency plays a big part in building trust within your audience. It’s essential to have a Whitepaper, a clear roadmap, and recognizable people on your side. That’s where industry influencers and famous people come into play. These individuals built their audience’s trust long before your project got its name. So having them introduce or promote your idea in a native-ish way can help you get some of that trust on your side.

According to Mediakix, 89% of marketing specialists claim that investment in influencer marketing generates a higher ROI than other channels. It’s pretty apparent, but crypto influencers are followed by those already interested in crypto and the market overall. So all the content you share with their audience will be directed straight to your potential users only.

Great supply

With influencer marketing, you don’t have to worry about running out of people you can partner with. While top-tier crypto influencers might be few, you don’t have to limit yourself to them only. Smaller content creators can sometimes offer a higher ROI due to the level of trust they inspire.

So once it’s established that you want to use influencer marketing to promote your project, it’s time to define your strategy. Despite being within the blockchain industry, every project is different and might require specific tactics to achieve desired results.

The best time to start reaching out to influencers is about a month before your launch, ICO/IDO, or another event. This is also the time to set your budget and plan your activities.

What is the end goal of your campaign? Depending on your project type, development stage, and other factors, it can range from brand awareness to warm up your target audience to getting higher bidders for your NFT collection.

Getting influential blockchain enthusiasts on board is a must, as they are the key opinion leaders within the industry. These individuals will become the core of your influencer marketing campaign.

If your budget allows it and your marketing strategy aligns with it, partnering up with celebrities is the easiest way to get more exposure to the mainstream public while also gaining trust within the crypto community. If you’re not shy to splurge on top-tier partnerships, you’re here for the long run.

While our team at Majinx has a long list of current influencers within the blockchain community, you will have to research and establish your own. Keep in mind that the number of followers is not the only thing you need to check. Among other things, you will have to calculate the ratio between the followers, likes, views, comments, etc., to determine engagement. With the bots remaining the issue on social media, you don’t want to waste your budget on “empty” accounts.

Influencer marketing is a classic promotion tool any DeFi, play-2-earn, or NFT project can benefit from by taking advantage of crypto influencers’ exposure and trust within the community. It’s also one of the best ways to get more personal with prospective users, as you’re basically introduced to them by someone they already know.

And if you want to make the most of this marketing tool without going through all the stages of finding, contacting, and managing influencers, you can always delegate. Leave your request here, and we’ll get back to you ASAP!

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