Fun crypto advertising fact…
May 2019 saw the first crypto commercial to run on national television in the US. The campaign by digital asset manager Grayscale was called, “Drop Gold,” and included a 30-second commercial. The Ad aired nationally on linear cable, business news networks and OTT streaming video platforms.
The commercial shows a man and woman racing around a financial direct while people around them are weighed down by bulky gold.
While the ad had mixed reactions from the Twitter community the company saw $171.7 million in inflows in the third quarter of 2019 -- the most quarterly inflows ever in the product’s six-year history.(1)
Since then, established and startup crypto companies have found that short, compelling video is the ultimate advertising method to expand awareness.
So buckle up, ‘cause in this guide, Colormatics covers everything you need to know for advertising cryptocurrency in 2022 and beyond.
What is Cryptocurrency Advertising?
Crypto advertising is the action of promoting the selling, buying or trading of cryptocurrency tokens and trading platforms with paid advertisements.
Crypto Digital Advertising Methods
With the rise in popularity of cryptocurrency, new crypto trading and investing platforms have sprung up worldwide. And these platforms need exposure in order for crypto users to find their product.
Colormatics offers frustration-free video production services to help crypto brands tell their story. With offices across both coasts, we work with national Fortune 500 companies like Lemonade Insurance and Microsoft.
Achieving success with crypto advertising can be found when using a combination of these advertising methods:
- Video ads
- OTT Commercials
- Live Streaming Event Advertising
- Banner and Display Advertising
- Native Advertising
- Social Media Advertising
The crypto industry faces a unique challenge in that the value is only as great as the number of people who can understand it.
Reaching new users is tricky. So, how do you rise above the noise - grab people’s attention - and get them to buy-in?
Well...you know the age-old saying that a picture tells a thousand words?
Video can tell the entire story of a company, explain your product or service offering and generate leads in under 90 seconds.
Video Ads can be highly targeted and generate organic buzz if shared by viewers - expanding brand awareness.
OTT, or "over-the-top," is streamed via the web, delivering content directly to your audience.
OTT content is not confined by conventional broadcast advertising, which is based on schedules or geographic locations. Giving you the ability to stream crypto advertising campaigns directly to your target audiences.
For example, running video ads on networks that have shows related to finance or technology gets direct exposure to an audience that is interested in crypto.
Live Event Streaming
Live streaming has emerged as a powerful tool for advertising content in the cryptocurrency space. This is because the cryptocurrency industry is rapidly evolving, and the community is always eager to stay informed on the latest developments. Live-streaming provides an interactive platform for companies to engage with their audience in real time and showcase their products and services. By streaming live events such as webinars, product launches, and interviews with experts, companies can effectively promote their brand and build a loyal following. Additionally, live-streaming allows for immediate feedback from the audience, enabling companies to gauge the effectiveness of their advertising content and make adjustments as needed. Overall, live-streaming is a valuable tool for cryptocurrency companies to reach their target audience and establish a strong brand presence in the market.
Banner and Display Ads
Banner Ads stand out boldly on a webpage and look very much like an advertisement. This form of advertising is best for drawing attention to a specific aspect of your business you want to promote. Placing your content on a webpage where your customers already are will increase brand exposure and awareness.
Native advertising is the opposite of banner ads. This method of advertising aims to fit seamlessly within the website’s content. Displaying in various forms such as videos or articles.
This method of advertising works really well for crypto because the ads are subtle and engaging. Native ads do not pop up on the screen and scream "buy now," instead, they are built-in, seamless content additions that offer advice and information.
Social Media Advertising
When social media is used properly it can be one of the best methods to gain traction by growing your fanbase and directing followers to your product site.
To advertise on social media successfully, a brand can’t just wing it. You must develop a strong, unique strategy that places authenticity and connecting with your audience at its core.
Cryptocurrency advertising companies like Colormatics make display advertising easy. We know how to place your ad in front of the right audience at the right time.
Hit that pink chat box in the bottom right corner to speak with a Colormatics team member.
Crypto Advertising Best Practices
While we can’t tell you exactly how to advertise your crypto, as each company is unique in its service offering and voice, we can share best practices that are proven to support a successful campaign.
Best practices for advertising crypto begins with understanding what motivates your cryptocurrency audience.
Researching what motivates your consumer is how you win their attention. Consider the following attributes that are unique to the crypto buyer persona:
Age: The younger generation is more interested in cryptocurrency, and almost half of the crypto buyers and sellers fall within the millennial age range.
Tech-Savviness: Buying, selling, and even mining crypto come with a thorough understanding of internet systems and new technology.
Demand Value: The average crypto buyer wants a trustworthy and secure purchase and is more interested in cryptocurrencies that have been previously successful or have undergone more scrutiny.
A successful advertising campaign is a blend between analytics and creativity. You can define your audience to a T but if your ad does not capture their attention, game over.
There is not a one-size-fits all approach to execution. Focus on how your ad makes people feel.
Start with a digital audience in mind, you’ll need to build for mobile with tighter framing, large-type text, and color contrast for visibility on small screens and with sound on.
Think holistically. Coordinating your message across marketing channels is extremely important as it lifts memory recall. But be mindful of the unique creative characteristics for each channel.
Measure your Advertising Success
Final, note on best practices, measure your advertising success. The mobile-feed environment allows you to test and fine-tune. Analytics can uncover small changes that work best to deliver brand objectives and reach the people who matter most.
To track and measure success, we recommend using a combination of Google Analytics and UTMs.
Memorable Crypto Ad Examples
Ad campaigns are the lifeline for many blockchain and cryptocurrency projects and they need to be the perfect blend of entertaining and informative, all without coming across as too “salesy.”
Hundreds of ads are shown to your audience daily, very few manage to stop the scroll and even less become memorable. So what makes an ad campaign memorable?
To best answer this question we’ve put together this list of the 5 most memorable crypto ad examples.
Blockfolio and NFL: Trevor Lawrence
Blockfolio partnered with NFL draft pick, Trevor Lawrence in what would be the first major endorsement deal with a significant signing bonus in cryptocurrency. The bonus consisted of mainstream coins such as Bitcoin and Ethereum and emerging coins that reflect the future of crypto, such as Solana.
Learn more about Athlete Branding
Display Ads along with native advertisements targeted 29 NFL markets in the U.S. made up of consumers interested in cryptocurrency, finance, and sports consumers.
Taking the internet by storm well past the NFL Draft, the Blockfolio campaign gained 1.5M clicks to the website.
Learn more about Successful Marketing for an Athletes Brand
- Display Advertising
- Native Advertising
- Famous Athletes
- Brand Awareness
Learn more about advertising to sports fans.
Grayscale: The History of Money
Grayscale Investments launched a national advertising campaign August 10, 2020, the ads ran on CNBC, MSNBC, FOX and Fox Business.
The 28-second spot quickly catches viewers up to speed on the history of money with an edgy “Hey Ho Let’s Go,” call to action by the Ramones. In an effort to elevate awareness of its cryptocurrency products.
5 days later Grayscale CEO Barry Silbert tweeted, “Grayscale has our largest fundraising week ever…$217 million invested into the Grayscale funds. Guess you like the commercial.”
- Traditional TV Advertising
- Short Form Video
- Recognizable music
- Strong “rally the troops” call to action
Public.com: Michael Bolton Viral Video
While Public.com isn’t a crypto company, we are including them in our list of memorable ads because as a stock trading app they’re target audience is similar.
With apps like Robinhood under new scrutiny, Public.com saw an opportunity to position themselves as a stock trading app for the people.
Running a TikTok campaign consisting of 10 advertisements targeting the Millennials and Gen-Z demographics and following it up with a national advertisement with musical genius Michael Bolton.
In a satirical parody, Michael Bolton sings, “How am I supposed to trade without you?” encouraging viewers to break up with their brokerage.
The video went viral and in less than a month, Public.com gained over 1,000,000 new users.
- Social Media Advertising
- TikTok Ad Campaign
- Famous Musician
- Organic Viral Video
How to Choose the Right Crypto Ad Agency
The next logical step for cryptocurrency companies is to partner with an advertising agency. Finding an ad agency with a track record of generating buzz around crypto can be challenging.
Here are 5 factors to consider when selecting an agency that is the best fit for your business needs:
Peer Reviews: Start by asking peers if they have any agencies that worked well for them. Another option is to compile a list of crypto, finance or tech ad campaigns that stuck out to you and search for the Ads production company.
View Case Studies: Crypto case studies are better than a portfolio because it provides insights into the agency’s process, showcases their creativity and details their results.
Experience: The crypto industry is growing at an accelerated rate, coupled with government regulations and shifting advertising platform requirements, you need an agency who knows the ropes.
Accountable: Advertising agencies should have a mix of both creative talent and analytic skills. They should be able to present you with campaign metrics, so you understand your ads’ impact on the market.
Culture: Finding the right agency fit is about more than the budget and the bells and whistles. An advertising agency should work with you. When you pick an agency for your business, identify the culture that makes up the agency and see if it will align with your goals and business objectives.
For example, will your in-house team get along with this new team? Is there positive chemistry, and will they be able to support and guide your team for the long haul?
Meet the Colormatics team of unusually dedicated and clever individuals, whose passion will make you think, “huh, they’re really into video.”
Cryptocurrency Advertising Key Takeaways:
It’s time to start thinking seriously about how to generate excitement around your cryptocurrency.
Video ads can tell the entire story of your company, explain your service and generate leads in under 30 seconds.
This satisfies a buyer’s need for information-based, engaging content. Engaging content that explains:
- What your product does
- How to use your product
- Why your product benefits them
Ready to aim for the moon? Good thing you’re here. Hit the pink chat box in the bottom right hand corner. We’re happy to walk through our discovery process to make advertising crypto easy.