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 ...
132 comments
Read more

SHARING IS CARING !..... EVEN FOR STARTUPS !

The Shared Economy Concept, at its core, is based on the most efficient use of money and resources. In the era of start-ups, gathering the resources is the most challenging aspect of any start-up. The broader vision of the founders of a start-up need to be simplified into micro plans so as to achieve the objective initially set. These micro plans focus on the resource requirements of the start –up. By resource requirement we mean all the tangible and intangible forces which are needed to build up the venture. It includes manpower requirements, space requirements and funding to name a few. Since the funds available to a start-up are usually limited, manpower planning plays a crucial role. An essential ingredient to effective leadership is to manage the resources efficiently. As the funds are limited, resource sharing can play an important role in the success of the venture. The technological advancement across all industries today makes resource sharing a very convenient and appropri...
1 comment
Read more

Why should Startups look at unsuccessful entrepreneurs as business mentors?

Entrepreneurs, particularly startup entrepreneurs are risk takers. We do not conform to the norms of safe play but are always on the lookout to push the boundary of trade and commerce to develop new opportunities and markets sometimes even where none exist. We know that failure is the stepping stone to success and are not deterred by our own failures but press on towards our goal with single minded determination and take the help of people who have got the experience and calibre to help us. So why is it that we do not even think of taking the help of people who have done it and seen it all but were unable to achieve their goal . Yes we are talking about unsuccessful entrepreneurs! Anyone who embarks on the entrepreneurial journey dreams of his startup achieving great heights in the days to come but the unsavoury reality is that 90% of startups in India fail within the first 5 years. They fail not because of want of dedication, effort or enthusiasm but despi...
11 comments
Read more