In 2022, DeFi is a very popular matter of discussion in the crypto sector. Every day, a large number of individuals join projects that provide DeFi services, and many crypto analysts believe that this trend will continue for a long time. And there’s a good chance it’ll grow into its own massive industry.
More and more projects are developing their own DeFi applications, and many current initiatives are shifting their focus to Decentralized Finance. Decentralized finance, or DeFi, is at the epicenter of the recent cryptocurrency bull run.
DeFi is the current thing in crypto right now, similar to how Initial Coin Offerings (ICOs) were all the rage in 2017. According to analytics site DeFi Pulse, just $1 billion was locked up in DeFi protocols in June 2020.
With the rise in DeFi projects, there is also a rise in the need for DeFi marketers as well as crypto marketers to help you get well versed with the nitty-gritties of Defi Marketing.
This article brings to you an all-you-need-to-know guide about marketing a DeFi Project.
Table of Contents
What is DeFi?
So, what exactly is DeFi? Isn’t crypto finance, in general, decentralized? In a way. The DeFi movement refers to a type of financial product that prioritizes decentralization and employs profitable incentive systems to entice investors to participate.
The decentralized finance sector is made up of a plethora of non-custodial financial products, built around a culture of highly experimental, extremely profitable crypto initiatives that has piqued the interest of top firms and venture capitalists—as well as a few crooks.
Decentralized finance, or DeFi, refers to smart-contract-based applications that seek to replicate traditional financial products without the use of middlemen such as banks or central governments. As an example, consider Defo lending.
Users may use DeFi to lend or borrow bitcoin, much like they would with fiat currency at a bank, and earn interest as a lender. Interest rates vary according to demand, and borrowers must provide collateral (with other crypto-assets).
Furthermore, there is no way for lenders and borrowers to know each other’s identities—everything is about mutual confidence and secrecy.
The first DeFi applications were Bitcoin and Ethereum. Both are managed by huge computer networks rather than by centralized authority. However, there are other applications that are dominating the landscape, most of which are developed on the Ethereum blockchain network.
Maker, Compound, and Aave, for example, now dominate the DeFi lending industry. Maker (DAI) promises to be a worldwide currency that cannot be touched by central banks, whilst Compound and Aave are crypto equivalents of money market funds that allow users to earn income.
Best DeFi Marketing Strategies
DeFi projects must adopt strategies and techniques to make the most of their overall marketing in an industry that is now completely saturated with both established and emerging numerous crypto enterprises.
Let’s have a look at DeFi marketing plan that can help your DeFi project soar in the crypto market.
DeFi Marketing on Social Media
Building an excellent community that allows for social interchange, involvement, and support is the key to effective social media marketing and social media engagement. You may also use social media to publish updates and give more information to community members.
Sharing “how to” information on your DeFi social media accounts will not suffice. You must develop an effective communication plan, build memes, and distribute material that your target audience will love.
Twitter is one social media platform where crypto users are always engaged, active, and interested in DeFi. The primary goal of Twitter is to raise the number of followers and degree of interaction around the project organically. If you want to gain a huge number of followers, don’t spend money on Twitter Ads — a well-executed Airdrop will bring people to your account for free or much less.
Maintain a team of crypto marketing experts that are continuously managing your Twitter, Telegram, Discord, Facebook, and Reddit accounts, and you may even experiment with other social media platforms that have less competition for the crypto audience, such as TikTok.
SEO and Content Marketing
There is a lot to be said about internet visibility, and DeFi initiatives are no exception. If you have long-term intentions, you must optimize your website and provide interesting material about your project. Otherwise, you will not be seen on search engines since you will not rank high enough.
It is recommended that you publish 8–12 articles every month in order for your content to appear on the first pages of organic search results. The primary goal is to build authority and provide sufficient materials for investors to become educated and make informed decisions about your business.
You should continually monitor and comprehend the analytics in order to determine which phrases and subjects are top of mind among your target audience. That way, you’ll be able to learn how to effectively explain the project’s USP (unique selling point) using keywords in order to attract a larger audience.
Influencer Marketing
By using DeFi influencers in marketing or promotion activities, DeFi initiatives may profit from increased traffic and brand exposure. DeFi ventures may reach a wider targeted audience by partnering with influencers who already have a following interested in blockchain and cryptocurrency.
However, the number of fraudsters who add bots to their channels is very large, and you should be extremely cautious when working with influencers. You should ideally collaborate with someone who is a specialist in crypto marketing or hire a proven crypto marketing agency.
You should also analyze your influencer’s personal brand and whether it aligns with the principles of your organization. The influencer gets to talk about something intriguing, which increases audience engagement.
DeFi Marketing via PR
The easiest way to have your articles published on tier 1 and tier 2 media without being labeled as “sponsored” is to work with a respected DeFi Marketing agency that has a long history of working with media companies. By providing DeFi projects with expert help and an understanding of the sector, crypto marketing services alleviate the burden of developing great content and constructing a distinctive brand.
So it always makes sense to delegate responsibility for content creation to a PR marketing agency so that you may focus on other parts of operating a business. When submitting an article to a significant media outlet, ensure that it is of high quality and provides some value to the reader.
Take for example, than merely introducing readers to your firm and its aims, the article should be committed to the resolution of particular challenges through extensive market research. Positive media coverage might help your project appear reputable without spending a fortune on promotion.
With a planned PR marketing campaign, your brand can establish itself as an Industry thought leader and thus creating more credibility for your project.
Community Management
Interact with your target audience on relevant forums such as social media, Telegram, Reddit, Bitcointalk, and other forums. You should establish an official Telegram channel where you can post news, answer queries, and generally set the tone for the project community.
The greater the project’s popularity, the more individuals will join in conversations, ask questions, and offer thoughts and suggestions. You must collaborate with the community on other sites, such as Reddit, Bitcointalk, and several important Telegram conversations and channels.
There are individuals who are always looking for fresh, good initiatives, and by starting talks about yours, you might pique their interest. Airdrops are extremely popular among investors and crypto enthusiasts, and a terrific technique to generate engagement in a community.
It is always advisable to reach a solid DeFi community marketing agency for a professional DeFi marketing strategy for your community.
Final Thoughts
Companies should be prepared to use a variety of techniques for promoting DeFi initiatives and projects in order to capitalize on the potential given by DeFi. Invest time and money in developing not only a beautiful website, a robust crypto community, and media mentions, but also an actionable and quantifiable DeFi marketing campaign.
It is also critical to hire a DeFi marketing agency to help you with certain areas of the marketing strategy if you want to see results quickly. Above all, any promotion method you adopt for your DeFi project should be appropriate for the overall goals of your marketing campaign.
