Cryptocurrency has gained tremendous popularity in the last decade and right now, it is revolutionizing the entire Fintech World by introducing Crypto Exchange Apps. The total global market capitalization of all cryptocurrencies as of May 2022 totals $1.28 trillion, which is equivalent to the world’s 9th largest economy by GDP. However, as it has become a mainstream form of currency, it has increased a sudden demand for ecosystems that capitalizes on serving the needs of crypto users across the globe.
Crypto Exchange Apps have now become a vital part of this growing ecosystem by allowing users to transact(buy or sell) cryptocurrencies through their mobile devices. Most of these new Crypto exchanges have certain challenges pertaining to user acquisition and retention for which they require a comprehensive marketing strategy.
In this blog, we’ll go through all aspects of Crypto Exchanges, and how to market your crypto exchange app.
Crypto Exchange Apps And Their Rise in the Recent Times
Cryptocurrency refers to a decentralized digital currency that uses an online ledger with strong cryptography to provide more secure online transactions.
For a long time now, cryptocurrency was primarily used by security-oriented individuals, who want to invest and safeguard their wealth for long periods of time. But gradually, the use of cryptocurrencies trickled down to the common man and is accessible by anyone today.
The rise of cryptocurrencies also enabled the rise of several Crypto Exchanges to facilitate transactions of cryptos. Thanks to these crypto exchanges, you no longer need to understand the complications of mining crypto or blockchain technology. Just download an app on your mobile device, register and you’re good to go. There are popular fintech apps such as Binance or CoinDx which can be used to buy or sell cryptos such as bitcoin, ether, doge, etc.
There is fierce competition in the crypto exchange space. There are well-established stock trading and cryptocurrency exchange apps and then there are newer and more focused Fintech apps focused entirely on cryptocurrency. In order to succeed, there has to be a perfect marketing strategy for your app in place.
Check out our blog on How Metaverse Revolutionized Online Gambling using Crypto.
Develop a Marketing Strategy for your Crypto Exchange Apps
As an app owner, you may have faced some common concerns just like your competitors. The market is similar to that of a stock trading app that offers similar services and attracts a similar audience.
Yes, promoting a volatile crypto market is challenging, but it has its own base of relatively small but enthusiastic followers.
Your idea of marketing must revolve around this audience and fetch them tailored content by identifying their needs. However, if you have the right data, making informed marketing decisions will be a cakewalk.
1. Know Your Audience
For any brand, it is important to understand the customer persona. There are certain questions that need to be answered in order to know what they really want and are selling what they want.
The questions vary from niche to niche and in the banking app and Crypto Exchange industry, the primary questions mostly lie around the Features that your audience requires the most, offers on cryptocurrency and trading, preferable cryptocurrencies they want to trade in, Security of your crypto exchange app, and Convenience of using your app.
Try to focus your communication efforts based on these points as it will help you instill confidence in your app and you will most likely see a response from them soon if you have nailed the idea of knowing your customers.
2. Choosing the Channels to target your customers
After conducting thorough research and knowing your audience, you need to know where your audience spends their time on the internet. Google and Facebook are some of the channels one can use to advertise. However, look for scalable alternatives where our audiences lie in order to have an advantage over your competitors.
3. Leverage Social Media the Right Way
There are several benefits of leveraging social media to promote your Crypto Exchange App. One of them is being an instant success if your app advertising efforts become a hit. However, you need to keep certain things in mind that can make or break your efforts in social media marketing.
- Be Consistent: Inconsistency is a curse for social media marketers. The moment traction is lost, it is hard to get the same momentum.
- Paid Ads: Paid Ads help substantially to enhance your reach and once mastered, you’ll see a significant increase in profit within a short period of time.
- Collaborate with Influencers: Since the market is a niche, so will the influencers. Try to reach out to micro-influencers who can improve your audience’s trust and increase downloads.
- User-Generated Content: Try to get as much user feedback as possible so that you can post it on social media. Reviews can be in the form of video or text. It is indeed tough to get such reviews, but it creates an impactful touch to gain users’ trust.
- Offers & Rewards: Create sign-up bonuses, contests, and giveaways for your app users.
4. Advertising and Publicity for your Crypto Exchange Apps
There are certain paid activities to promote your crypto exchange app and expand its reach.
- Blogs: One of the most important things to do as you start with your Crypto Exchange App is to create a website and run a Crypto blog.
- Working with media partners. Partner with media houses that write and publish articles and press releases about cryptocurrency, crypto exchange news, and related resources.
- Native banner advertising. This category may include a/b testing, geo-targeted redirects for targeted users, and contextual advertising. Native ads mimic their environment to blend seamlessly with their content.
- Affiliate Marketing. Having an Affiliate Program enables you to get direct users for your app. The risk associated with mobile app affiliate marketing is considerably low as you only pay when a user downloads your app.
Trackier’s MMP help apps expand their user base and build better products
Over 70% of marketers struggle to make impactful marketing decisions as they lack marketing insights in order to improve their advertising effectiveness. Partnering with the right Mobile Measurement Partner is fundamental to understanding user acquisition. Many marketers believe that attribution plays a vital role in optimizing mobile marketing by providing indispensable insights.
MMPs provide in-depth insights to publishers to optimize their advertising campaign efforts and track conversions.
Trackier MMP works with app owners and publishers to track campaign performance across advertising channels.
Apart from helping publishers to understand where users are coming from through user-level attribution, an MMP can also tell which channels have been most profitable, user retention, and user engagement.
Tracking your Crypto Exchange App with Trackier MMP allows you to understand and optimize your marketing budget with accurate and holistic insights. Partnering with the right MMP enables publishers to have a methodical approach in their marketing arsenal and turn your Crypto Exchange App into its best form.