The futur of crypto advertising
We are on a mission to bring 1 million new investors to crypto by the end of 2022.
Due to traditional digital advertising losing its relevance to the blockchain community, crypto influencers are an essential alternative.
As an idea, influencer is not a new concept, as it is based on the foundation of recommendations, referral or word-of-mouth advertising, which has long been in existence.
Television advertising has used it to good effect by employing celebrities to endorse products;
as those who watched the recent documentary series ‘The Last Dance’ will have seen with Michael Jordan’s infamous partnership with Nike – the richest endorsement deal of all time. Now, however, influencer marketing is based on key individuals creating content sparking conversation and a desire to purchase.
This desire is built on how the audience perceives the referrer or influencer.
Successful influencers build a following based on great content delivering knowledge and experience within their chosen field.
They don’t necessarily have to have a celebrity title or existing fame to be considered an influencer.
Many have grown their online following organically from zero and lead relatively normal lives outside of the digital world.
However, they build a level of trust with their audience as they grow and often leave others desiring what they have, whether it’s material objects, appearance or quality of life.
Their audience not only enjoys their content, but usually receives something of value along the way. This can be in the form of tips, tricks or new knowledge.
The audience respects and trusts the influencer, based on their experiences with them.
For example, the influencer could talk constantly about a book they have read and recommend their audience read it.If they then also read the book and love it too, trust is built with the influencer and their recommendations.Or perhaps the influencer records a video of a recipe, which they say is easy to follow and tastes great.Others try the recipe and it works so well when the influencer publishes the next video their viewers can’t wait to try it.When an influencer then shares new content discussing third-party brands or products, the audience is already primed towards the influencer’s choices and much more likely to follow the recommendation.
HubSpot found 71% of consumers are more likely to make purchases based on social media referrals.
As Mike Schmidt points out, influencers are usually everyday people, and this is the key aspect of influencer marketing.
Gone are the days of bland press releases, TV ads featuring models who don’t represent the average human being, or celebrities obviously being paid to endorse a product.
These methods, though still utilized, began to feel disingenuous to a wider audience.
The lifestyles of these people were too far removed from the ‘real world’ as their lifestyles are unobtainable to most.
Advertising mediums are changing, and influencer marketing has arisen in response.
Consumers spend more time on social platforms than ever before. There has been an unpredicted increase seen in the advertising audience of all major platforms from the start of 2020 onwards. On these platforms and networks, audiences tend to respond better to those they see as their peers. Influencer marketing targets audiences where they spend time and approach them on their level, sometimes even directly. Buyers of today are aware of how adverts can be misleading and so look more towards each other for recommendations, rather than directly to companies.