Whether you’re a Bitcoin fanatic who loves all things cryptocurrency or you’re still unsure as to what these coins even are, one thing can be agreed upon: The news isn’t making it look good. With talks of corruption, hacking, theft and volatility, it’s not surprising that there aren’t many people willing to jump in at the deep end.
However, the truth behind these digital coins could be far different than what we’re led to believe. As you might expect, a number of specialised etf trading markets have been set up and are eager to promote Bitcoin in the good light it may deserve, but could a marketing campaign be the answer? We’re exploring further, here.
What Could The Benefits Be?
Without benefits, the title question may never have even come up but as with all marketing campaigns, there are some benefits that can be reaped when it comes to promoting Bitcoin investments. They are as follows:
One of Bitcoin’s biggest downfalls is the fact that not very many people are truly aware that it exists. While more and more people are beginning to learn this cryptocurrency’s name, very few truly know that it’s even a cryptocurrency, or what a cryptocurrency is. Building awareness is undeniably the key to success with any product or service and where Bitcoin is concerned, it could even prove to reduce or prevent skepticism. Through marketing bitcoin investments, more and more interested parties are likely to come out of the proverbial woodwork, potentially leading to a larger userbase.
Hesitance to invest not only comes from a lack of awareness, but also from a lack of understanding. While those who know the basis of what Bitcoin is can probably talk about it on a base level, to be able to invest in such a technology, a deeper understanding of not only Bitcoin but how the markets work could also prove beneficial. In terms of marketing, spreading knowledge of these areas could encourage people to begin investing in Bitcoin, if not in other cryptocurrencies that may be more beginner-friendly.
Use Of Dedicated Userbase
Bitcoin’s current user base is undoubtedly a dedicated bunch. While there are a number of Bitcoin owners who are inactive or no longer have access to these coins, those who are active within the markets are likely to spread and share marketing campaigns and encourage potential users to start – a benefit to any product or service.
With benefits come hurdles and Bitcoin has its fair share. In terms of the marketing campaigns themselves, however, the hurdles have the potential to eradicate the benefits completely.
People listen to people and in particular, consumers listen to the people they look up to, so brands looking to truly market their products often reach out to these influencers for something called ‘influencer marketing’. This essentially means that someone of substantial fame or following will accept sponsorship from a company in some form, and will promote their product through the use of the social media (Facebook, Instagram, YouTube etc).
Bitcoin’s downfall, however, is that gaining this kind of promotion could prove difficult. Very few influencers, especially those who aim their content at a younger audience, may be unlikely to agree to these kinds of deals simply through a lack of understanding and an abundance of skepticism.
It Can Seem Niche
Cryptocurrencies aren’t guaranteed to remain a niche industry forever, but as it stands, there are very few people who understand the markets and the technology enough to truly market platforms or coins with any great confidence. What’s more, those who are curious but hesitant might find that the niche nature turns them away from getting involved.
While cryptocurrencies can seem easy to understand to those that already understand the technology, those who are new to this kind of industry altogether aren’t likely to have the same experience. As a result, marketing campaigns may need to be carefully crafted or in depth in detail in order to attract these audiences.
The question as to whether Bitcoin investments need marketing campaigns could ultimately come down to whether any individual platform is willing to do exactly that. Spreading the word about these cryptocurrencies can help to promote further adoption of the coins, but further understanding, reduced fear and finding ways to overcome marketing hurdles may be the key to furthering mass adoption.