Skip to main content

CRYPTO CURRENCY: AN EMERGING AVENUE IN DIGITAL MARKETING

Block chain and Cryptocurrency seem to be synonymous but they are not. While block chain is the underlying technology that helps manage the digital currency, most importantly, it’s decentralized so no one person, government or business controls it. 
For a few months of 2018, whole  of Silicon Valley was wrapped up in a fantasy of remaking the world order with Cryptocurrencies and a related technology called the block chain. And just as the public had been given all possible block chain content that could be written, the whole thing collapsed. The bubble popped. 
Bitcoin might be the most significant financial bubble the world has ever seen so far. Every Cryptocurrency user has to do away with knowing about block chain as such which dominates the world of distributed-ledger technology. One factor favoring   the argument of Bitcoin being a bubble is that there is likely a high-volume of inexperienced investors flooding the Cryptocurrency market. And hence there are more no of tokens/coins that are evolving in the ecosphere, followed by the Cryptocurrency exchanges.

The computing power needed to “mine” a Bitcoin or other Cryptocurrency is sometimes costing more than that coin is worth. Mines (often termed as electricity-needy data centers) are shutting down. As demand for Bitcoin has dwindled, Bitcoin’s algorithm has adjusted and the coin has become easier to mine. But this is actually good, “The fact that miners are shutting down and difficulty is decreasing is a feature, not a bug, of Bitcoin’s design,” Crypto experts argue. 

Some people in the Cryptocurrency business would just like the world to know there are still individuals working on it. Experts are suggesting that they would like people to identify them as  HODLers, or someone who are not selling despite market fluctuations. HODL stands for Hold On Dear Life to indicate they would remain an investor. This reinforces the financial concept that one doesn't sell in a Bear Market. Furthering this notion, a user case would be regular consumers being able to use a Cryptocurrency to do something other than make a speculative investment. At the beginning of year 2018, it was HODL. Towards the end of the year, it was time to BUIDL than HODL. BUIDL essentially urges Cryptocurrency enthusiasts to focus on building new Cryptocurrency projects, instead of blindly holding Crypto coins and waiting for the price to go up.

Block chain has now become a solution for everything — block chain for journalism, for pot, for dentists. At its core, it was real technological progress and a growing understanding that this decentralized technology could transform financial systems too. But the excitement spun out of control beyond thoughts and limitations.
As a digital marketer, I have considered the possible ways to capitalize on this trend and here are some of them:
a)    Most people see cryptocurrency as the currency of the future. Early adopters willing to take risks will progress as forward-thinking and demonstrate as  thought leaders along with being pioneers in the fintech industry
b)    Winning more market share is a definite key to success, especially when trading is made available in any fiat or crypto currency forms that differentiates from competitors
c)     Reach out to potential customers by using social media, PR which enables building brand awareness
d)    By understanding the customer behaviour, in the form of accepting (supporting and promoting) their preferred currency, crypto enthusiasts prefer and welcome business legitimizing it, which is definitely beneficial
e)    Crypto transactions are complex and are designed to support low transactional costs which is synonymous to keeping lower prices for advertising campaign for bringing the best of the ROI
Build marketing campaigns that advocate awareness for building brands and deploy an integrated marketing approach with a unified strategy in the form of promoting cryptocurrency for better yield, with regulations and compliance in place, will make the most of crypto currency businesses successful.


Cryptocurrency and Online Marketing Opportunities are Abundant:
There are long-term online marketing or SEO opportunity in the niche with emerging Crypto currencies.

The fact that this genre deals with people with different age groups, likes, locations who are willing to spend their disposable income on a volatile, highly-criticized, investment opportunity fairs well for all websites, which garner promising Cryptocurrency listings.
Labels:

Comments

Post a Comment

Popular posts from this blog

Why is digital marketing important for Medium and Small Enterprises ?

One of the key differentiators of the success of a business is the number of customers that it can reach as more customers mean more sales volume.   One of the technological innovations that helps a business in this direction is digital marketing . It is indeed a boon for MSMEs as it lets you reach your target audience with ease, simplicity and at very low cost. Cost is always a concern for most MSMEs. Why would anyone not want to use the power of the internet with over 3 billion users to further the cause of their own business? But it is a fact that deploying digital marketing for their own benefit seems a herculean task for many MSMEs as they feel that they are not adept nor attuned for the digital world, they also tend to think that they will not reach their target market or they simply do not have adequate information, lack sufficient human resource and tools to manage the digital world. Here is where organisations like Outsourced CMO can help these MSMEs bridge the
168 comments
Read more

Do marketers need to worry about job losses in AI dominated future ? (Part 1)

The age of AI driven automation is well and truly upon us. Pizza Hut is experimenting with robots called Pepper and virtual assistants like Siri and Alexa are a reality now. According to Pizza Hut the experiment with Pepper will not only make the customer service faster and more efficient but will also make it easier for people to customize their orders. The company expects a reduction in customers’ wait time for orders and far superior and personalized user experience. This does indeed represent a threat to the first line of marketing personnel.   Although it is equally true, that Pepper has not been so successful outside Japan, where it is sometimes available at hotel lobbies as a virtual concierge and was actually fired from a Scottish grocery for less than satisfactory performance! But this can be seen as a step in the learning curve for AI controlled robotics and as we all know that this learning curve is indeed quite sharp.   Marketeers are confused as to h
6 comments
Read more

“OUTSOURCED CMO” is now registered Trademark

Simplicity is the key in today’s brand world. Keeping it in mind along with collaborative consumption mindset, brand   OutsourcedCMO   has helped companies gain recognition within various markets and continue to do so.   And now, to protect our identity and exclusivity, we have registered our brand name ‘Outsourced CMO’ – Yes, Outsourced CMO is registered now ! This means we at Outsourced CMO hold exclusive rights to use this brand name and no person/firm can use it without our permission. The goodwill and trust we have built over the past years helps in differentiating and separating our services from other players in the industry and this step will protect it for us and companies who hired us. The registration process protects any infringement as per the Government of India and will bring on legal hassles for infringers. Since Outsourced CMO strongly believes in the concept of shared economy, we at Outsourced CMO strive towards lowering marketing costs, strengthening commun
6 comments
Read more