Decentralized finance, or DeFi, is one of the driving forces of the rise and rise of cryptocurrency. In addition to the DeFI ecosystem, an effort is underway to develop decentralized financial tools capable of handling the increasing volume of transactions. As per the report by Bitcoin.com, the total value of locked DeFi protocols stand at around $51.1 billion.
Understanding the potential of this futuristic solution, several companies are now developing their own decentralized finance applications. Such applications will make financial tasks like trading, borrowing, insurance, and lending simpler and more transparent.
DeFi stands to make such activities flexible for both customers and businesses using its peer-to-peer network and distributed ledger.
So, with the sudden hike in decentralized finance (DeFi) projects, marketers are competing with their competitors to stay ahead in the game and get high-value investors. However, the projects need optimum visibility, so they need powerful DeFi marketing strategies handled by experienced agencies.
Let’s dive deeper into this exciting area and learn more about DeFi.
Table of Contents
What is DeFi?
DeFi, short for Decentralized Finance, is a financial system based on blockchain technology. While all cryptocurrencies are decentralized, DeFi goes beyond that, eliminating central authorities in the financial industry, such as banks and regulatory bodies. With just an internet connection, users can create a digital wallet and engage in financial activities like buying insurance, trading assets and derivatives, and earning interest without any paperwork or intermediaries.
There are several other crucial benefits of DeFi, making it such a promising innovation that is here to stay. Some of them include:
- Peer-to-peer transactions
- Elimination of third parties like banks
- Highly secure and private transactions
- Fast operations, real-time updates
- Flexibility to move assets without paying hefty fees
- Transparent transactions are available to view by the parties involved
Despite the technical jargon used in this space, DeFi offers such promising benefits that it’s poised to become a mainstream financial innovation.
Marketing DeFi projects, however, is not easy, and DeFi brands face the challenges of gaining visibility, attracting investors, and creating awareness to build the DeFi ecosystem.
Understanding DeFi Marketing
DeFi marketing is the process of advertising decentralized finance projects to attract and retain customers. It involves various strategies, including social media marketing, content marketing, community building, influencer marketing, partnership marketing, advertising, and email marketing.
The main goal of DeFi marketing is to build brand awareness, attract new users, and increase user engagement. It is essential to communicate the unique features of your DeFi project effectively, as this helps in building trust and credibility among potential users, which is crucial in the highly competitive DeFi market.
DeFi marketing is a multi-layered activity that focuses on penetrating a highly-targeted group in the market, which is highly educated and aware of the DeFi arena. Marketing strategies that do not reach out to them in a relevant way will be immediately dismissed by them. DeFi brands are currently reaching out to all kinds of investors to expand their reach. A good DeFi marketing strategy should consider both aspects and prepare a strategic plan that targets both groups effectively.
Let’s look at some of the most effective DeFi marketing strategies helping brands scale their objectives.
Best DeFi Marketing Strategies For Assured Impact
These DeFi marketing strategies will help you create a strong brand identity, increase your project’s visibility, and ultimately drive the adoption of your DeFi platform. Consider these hard-to-ignore powerful marketing strategies for your DeFi project:
Influencer Marketing
Influencer marketing remains the absolute core of crypto, NFT, and DeFi marketing. Influencers are one of the most important and powerful marketing and communication channels. They help onboard new users looking to experience the opportunity of investing in new technologies.
Several social media channels are present where you will find all sorts of influencers. However, speaking from a DeFi marketing point of view, only a few channels are relevant for influencer marketing. They include YouTube, LinkedIn, Twitter, Reddit, Discord, and Instagram.
Now, to roll out an effective DeFi influencer marketing strategy, marketing agencies identify the right channel according to the theme of communication and the target audience. For example, while Twitter, Reddit, and Discord are usually the preferred channels for matured crypto audiences, YouTube is great for those still in the learning and awareness stage.
🔹For YouTube influencers:
- Long-form content: YouTube influencers often create longer videos that go in-depth into DeFi topics and data.
- Tutorial-style content: Tutorials are also popular on YouTube, as influencers can walk viewers through how to use DeFi platforms and products.
- Easy to share: YouTube content can be easily shared across multiple channels, which can help increase brand visibility.
- Various types of content: YouTube is a versatile platform, allowing for interviews, live videos, advertisements, and promotions.
- Ideal for in-depth information: Due to the nature of the platform, YouTube is great for providing in-depth information and analysis.
🔹Twitter influencers:
- Real-time updates: Twitter is a great platform for keeping up with the latest news and updates in the DeFi market.
- Official channels of communication: Many brands and influencers use Twitter as their primary platform for official communication and announcements.
- Entertaining content: Twitter users enjoy DeFi-related memes, GIFs, and other entertaining content.
- Easy to share: Tweets can be easily shared, retweeted, and commented on, which can help increase brand visibility.
- Ideal for quick, concise information: Due to the character limit on Twitter, the platform is ideal for quick and concise information, making it great for breaking news and updates.
Social Media Marketing
The blockchain-crypto-DeFi-NFT space is heavily community-oriented. Social media marketing is an outstanding way to build such communities that helps DeFi projects grow and attract heavy investments. Brands use social media platforms to make major announcements and drive organic traffic to their website.
However, sharing ‘how-to’ and ‘top 5’ content is insufficient to drive social media engagement and build a vibrant DeFi community. Brands must partner with experienced marketing agencies to plan an effective DeFi marketing strategy with timed discussion and engagement topics.
For example, a good social media marketing plan should include clever memes, educational posts, tips and tricks, and attractive activity announcements like giveaways and airdrops. These activities are far more effective in boosting social media engagement and adding new names to your user base.
DeFi marketing agencies often have dedicated channel-wise teams that monitor the target audience and the prevailing sentiment in the ecosystem. They release their social media posts at the right time about relevant topics to garner maximum attention and drive traffic to the primary website.
DeFi SEO and Content Marketing
In today’s digital age, solid SEO plans and high-quality content are essential to ensure online visibility. However, with the fierce competition online, even this space is quickly becoming saturated. According to safaridigital.com, 57% of SEO experts agree that content creation and content marketing are the most effective ways to boost search engine marketing.
SEO and content go hand-in-hand. Many brands think that it is a one-time activity. However, SEO and content optimization is an ongoing process that continues to bear fruits even in the long run. A sound SEO strategy will ensure that your brand name pops up at the first search engine results rank and help build your website authority.
On-page and off-page SEO activity help bring in credible, high-quality links that boost your website’s position. This number tells Google where to list your brand website while suggesting results for queries. DeFi brands can avail of many benefits with content marketing and SEO.
Everyone who wants to learn more about a certain DeFi project will look it up online. So, when your brand name appears at the top, the user will go to your website. It helps you increase organic traffic, build a quality base of potential investors, and improve your brand reputation.
PR Marketing
We all know the power of getting published on reputed media sites. It gets you respect, recognition, and maximum visibility. DeFi PR is a great tool to spread the word without getting the ‘sponsored content’ tag.
Such initiatives are best left to professional and reputed marketing agencies with relationships with the top publishing partners. Such agencies identify the purpose of the communication and the target audience and find the best publishing sites for maximum impact.
For instance, when you choose Blockwiz for your DeFi marketing requirements, you can feature your content on names like AMB Crypto, The Cointelegraph, Bitcoin.com, Coindesk, and many more. We ensure that every platform features uniquely written content as press releases for your brand.
As we know, these publishing sites are viewed as authentic voices of the crypto world. Hence, getting your brand up here helps in reputation management and positioning yourself as an authoritative name in the industry.
Community Management
The power of community is immense in the DeFi and blockchain domains. Platforms like Telegram, Discord, and Bitcoin talk are excellent for driving engagement for the benefit and publicity of your brand. These platforms are the hotbed of DeFi and crypto enthusiasts. Hence, you get a ready lot of potential investors. All you have to do is spread the USP of your project and start building your community.
DeFi communities are essential to keep up the spirits of the project. These communities help create the ideal buzz of the project and drive up its value. However, at times not every member of the community is an asset. Some might be detrimental to the group by diverting attention to unnecessary issues.
So, brands must see that these groups are moderated and monitored actively. It’s again something that requires the involvement of a crypto marketing agency.
Bonus Tips to Strategize Better
Some unique characteristics of the DeFi market can help you choose the most appropriate marketing plan. Let’s take a look at them briefly.
Two-sided Targeting
As discussed above, DeFi marketing needs to target two audiences: investors and fund-seekers. Hence, a foolproof strategy must target both these groups according to their user journeys. The design formats for each group have to be created according to the relevance of their position in the sales funnel.
DeFi marketing is also used for branding. So brands cannot take a one-size-fits-all approach. So, partnering with an experienced marketing agency is necessary for targeted planning.
Technical Analysis
The DeFi domain is also one of the most speculative ones. Data is one of the best tools to build user trust here. Marketing plans that display data and their claims are usually the most effective.
You can gather industry predictions and recent user interaction data for marketing plans. It may not be easy to collect recent insights. Marketing agencies can be a great help here as well.
How a DeFi Marketing Company can Help
While DeFi marketing can be a challenging and complex task, it is essential for the success of any DeFi project. For those who lack the expertise or resources to handle DeFi marketing in-house, a DeFi marketing company can provide valuable support and guidance.
In this section, we will talk about the benefits of hiring a DeFi marketing company, the services these companies provide, and how to choose the right DeFi marketing company.
Benefits of Hiring a DeFi Marketing Company
There are many benefits to hiring a DeFi marketing company.
1. Expertise and Experience
A DeFi marketing company brings a wealth of expertise and experience. These companies deeply understand the DeFi industry and the marketing strategies that are most effective in this space. They are equipped with a team of professionals specializing in marketing, such as SEO, social media, email marketing, and content creation. With their expertise and experience, they can develop effective marketing campaigns to reach the right target audience and generate positive results.
2. Time and Resource-Saving
DeFi projects can benefit from outsourcing marketing tasks to a professional DeFi marketing company. It helps to save time and resources, as the company can handle all aspects of the marketing campaign, from planning to execution. DeFi projects can free up their internal resources to focus on other significant tasks, such as product development, customer support, and business operations. It can result in improved productivity, efficiency, and overall success.
3. Access to Marketing Tools and Resources
A DeFi marketing company can provide access to a range of marketing tools and resources that might not be available in-house. These tools can help to optimize marketing campaigns and drive better results. For example, a marketing company may use advanced analytics tools to measure campaign performance and identify areas for improvement. They may also have access to industry databases, research reports, and marketing automation software that can enhance the effectiveness of marketing efforts.
By leveraging these tools and resources, a DeFi marketing company can deliver better results and help its clients to achieve their marketing goals.
How to Choose the Right DeFi Marketing Company
Choosing the right DeFi marketing company can be a challenge, given the many options available in the market. To make the right choice, DeFi projects should consider a few key factors:
1. Experience
DeFi marketing is a specialized field, and choosing a company with experience in this space is important.
2. Reputation
Look for a DeFi marketing company with a strong reputation and a proven track record of success.
3. Services offered
Different DeFi marketing companies offer different services. It is important to pick a company that offers the most relevant services to your needs.
4. Price
DeFi marketing companies charge different rates for their services. Choosing a company that offers good value for money and fits within your budget is important.
Challenges in DeFi Marketing
Despite the potential benefits of DeFi marketing, there are also significant challenges that DeFi marketers need to be aware of. In this section, we will discuss two major challenges marketers face in the DeFi industry: regulatory and security.
1. Regulatory Challenges in DeFi Marketing
One of the significant challenges in DeFi marketing is regulatory uncertainty. DeFi is a relatively new and rapidly evolving field, and regulators are still trying to understand how to regulate DeFi products and services. This regulatory uncertainty can create challenges for marketers trying to promote DeFi products and services, as they may not be sure what the rules are or how to comply with them.
To overcome this challenge, DeFi marketers should work closely with legal and compliance teams to ensure that they operate within the law’s bounds. They should also stay informed about regulatory developments and be ready to adapt their strategies as regulations evolve.
2. Security Challenges in DeFi Marketing
Another significant challenge in DeFi marketing is security. DeFi platforms are vulnerable to hacks, fraud, and other types of attacks, which can undermine user trust and harm the reputation of DeFi projects. As a result, DeFi marketers need to prioritize security and take steps to ensure that their products and services are safe and secure.
To overcome security challenges, DeFi marketers should work closely with security experts to identify and mitigate potential vulnerabilities. They should also prioritize transparency and communicate openly with users about security risks and measures taken to address them.
Strategies to Overcome Challenges in DeFi Marketing
To overcome the challenges of regulatory uncertainty and security risks in DeFi marketing, marketers should focus on building trust with their target audience. This can be achieved through transparent communication, engaging content, and a commitment to security and compliance.
DeFi marketers can also leverage partnerships and collaborations to increase their reach and build credibility. Marketers can tap into their existing audiences and expand their reach by partnering with established companies and influencers in the DeFi space.
Wrapping Up
The importance of DeFi marketing cannot be overstated when it comes to the success of any DeFi project. By leveraging the marketing strategies mentioned above, DeFi projects can increase visibility, build trust with potential users, and achieve their business goals.
Collaborating with a DeFi marketing agency can be a game-changer. It can save time and resources and provide access to a range of marketing tools and resources that may not be available in-house. This can help DeFi projects execute effective marketing strategies that align with their business goals and target audience.
Looking ahead, the rapidly evolving field of DeFi marketing is likely to continue significantly shaping the financial industry. DeFi marketers can help drive the growth and success of the DeFi industry by staying up to date on the latest developments and implementing effective marketing strategies.
Partnering with a reputable DeFi marketing agency, such as Blockwiz, can help capitalize on crucial moments and bring out the best of your brand most effectively. So, what are you waiting for? Contact us now and let our experts explain why we are the best name in crypto and DeFi marketing.
