Hiring well-known influencers have become the new fad in executing marketing campaigns. Influencers provide a wide range of benefits as they help in generating more brand awareness and improving the rate of conversions on your token sale. Influencers have several dedicated channels for promoting your ICO on YouTube with interested audiences.
Understanding the Importance of Influencer Marketing for ICO’s
- More trust is created by an influencer than paid marketing. Hence it drives the target group to take the desired action.
- With the likes of Facebook, Google and Mailchimp cracking down on ICO advertisements, ICO YouTube Influencer marketing is becoming more crucial due to its superior conversion rate.
- They feature only high-quality ICO projects and reject scam projects and projects which do not serve any purpose.
- Instead of making a hefty upfront payment, there is an option to offer an affiliate marketing deal to the influencers. Hence, resources can be saved as money will be spent on new signups which form a successful conversion for your website.
The Wide Range of Topics That Can Be Covered by Youtube Influencer for Promoting ICOs
The influencers can talk about the current cryptocurrency market conditions and the new players entering the industry. Data analysis can be used to share insights about global trends. The principles of blockchain technology and the essentials of cryptocurrency trading can be shared understandably. Tips can be published about the best strategies to make profits in the market amidst uncertainty and volatility. Some popular crypto channels on YouTube include BitBoy, Ivan on Tech, CryptoBud, and CryptoZombie.
Challenges to Promoting Your Ico on Youtube Through Crypto Influencer Marketing
- It is still a relatively new tool in the market and audiences are not quite familiar with it. Brands must give complete freedom to influencers to promote their product naturally.
- Influencers cannot reply to every request made to promote a project. Since they provide a lot of value in terms of content marketing, they sometimes become difficult to work with due to their increased following.
- In recent times, the FTC (Federal Trade Commission) of the USA has been closely watching the progress made by influencer marketing. Hence, every influencer has to disclose whether the post they are promoting is a sponsored one or not.
Factors to Take Into Account Before Choosing a Crypto Influencer for Your Marketing Campaign
- The influencer’s followers should overlap with the interests of your target audience.
- Check out the ratio of the number of followers for the channel and the price charged for one post or review.
- The number of views, likes, and retweets received for one post or review.
- Whether the influencer promotes high-quality ICO projects or sub-standard projects.
- Whether the influencer performs an in-depth analysis of the projects under review or he merely reads the copy of the project mentioned on your official website.
- Do not associate with influencers who have a very small audience because they will fail you to fetch a higher amount of conversions.
- Check your comfort level concerning the fees charged and the expertise possessed by the influencer.
Obstacles Involved in ICO YouTube Influencer Marketing
- Measuring return on investment is quite difficult as brand awareness and pre-conversion touchpoints cannot be calculated easily. Hence, the firm will not know if the influencer marketing has worked well or not. Brands can make use of YouTube analytics to evaluate the performance of their video and make necessary alterations in the content in the future.
- Influencers lack transparency and authenticity. Though it has a wide reach, firms are not clear whether they have under-invested or over-invested in influencer marketing. Hence, this leads to problems in determining what is paid and what is organic.
- The problem of fake followers and fake influencers is destroying the credibility of influencer marketing. This will be a long term issue that the crypto industry will struggle with. Hence, firms should refuse to work with those influencers who utilize bots to increase their count of followers for their channel. However, it depends on platforms such as Facebook, Twitter, and Instagram to quash fake accounts, bots and manipulated engagement to drive a positive change in the future.
- Influencer marketing struggles to build and retain customer relationships in the long run as they do not offer free products, access to enticing events, and any other added benefits.
- Picking influencers for your marketing campaign based on their number of followers or frequently searched keywords may not work every time as the content may not reach the right kind of target audience.
- Social media platforms often change their algorithm which means new features are added regularly deleting the old features that would have worked for your brand.
Future of a YouTube Influencer for Promoting ICOs
It will undoubtedly help brands boost their reach and relevance across the market. If influencer marketing starts working more on breaking down the barriers that exist between sponsored versus organic content, evaluate data of the campaigns being carried out, and take into account audience feedback, it will help them immensely.
Since fake influencers thrive a lot from sponsored content, new ecosystems can introduce checks and balances by providing a level-playing field for new influencers. There is a need for more honesty in the system as genuine influencers are losing the competition to bots.
There is a requirement of campaigns to be more flexible leaving the choice of creative freedom to the influencers themselves. Authenticity takes a backseat when influencers share brand-sponsored content. There have also been incidents where brands have paid influencers lots of money to give negative reviews of their competitors.
Influencer marketing needs to take into account the culture and tastes of different audiences and avoid being racist. The onus lies on brands to place their value on the quality of work done by an influencer. Credible collaborations can occur only if the brand and the influencer share common ideals and a relevant audience. Hence, honest content can be created only by driving natural conversations. The industry needs to urgently measure the value of the work done by influencers more effectively. We can see that ICO YouTube influencer marketing has become an essential part of today’s marketing campaigns as they help in creating an authentic relationship with the target audience.