Many companies in the crypto space hold growing concerns over their social media pages being taken down, causing them to lose the ability to interact directly with the community. In addition, many struggle to retain loyal customers and truly establish themselves as thought leaders.
One of the ways crypto projects can get around these concerns is through email marketing. In this piece, we shall examine all you need to know about email marketing, including types of emails and how to utilize email marketing for your crypto project.
What is Email Marketing, and Why Is It Important for Crypto Projects?
Email marketing is a digital marketing strategy that is utilized by businesses around the globe to generate sales, create brand awareness, and boost customer relationships. With email marketing, you can generate lots of revenue and engagement around your cryptocurrency project. Emails provide a great channel for building relationships with customers and investors. It is one of the most popular means of content distribution. An analysis of 2022 email marketing statistics and trends shows that over 85% of business-to-business (B2B) marketers and 79% of business-to-consumer (B2C) marketers employ email marketing. A well-implemented email marketing campaign can generate great returns. Experts consider it an excellent technique for creating awareness about a new coin or project, its Initial Coin Offerings (ICOs), etc. Some of the benefits of email marketing include the following:
- Allows You to Own the Channel of Communication
Unlike other social media platforms that can be removed or blocked, an email is an open channel of communication that no single person or company owns. And unlike most platforms like Twitter, Discord, or Telegram, every member of your target audience has an email address, allowing you to communicate directly with them without any restriction. Hence, the information you send out is a genuine expression of your crypto project. This eliminates the need to conform or adapt to any algorithm, which usually determines visibility on other platforms.
Furthermore, with email marketing, you can also opt for your desired format. For instance, a crypto project or start-up can convey its contents using formats that are most suitable to them, including GIFs, graphics, videos, and texts. They can even choose all the formats to best convey their message’s meaning.
- Increases Your Visibility
Email marketing is an excellent way to boost the visibility of your crypto project. Since the introduction of email as a means of communication, the number of active users has continued to rise each year. In 2020, there were over 4 billion active email users around the globe, and over 306 billion emails were shared daily. This figure eclipsed those of popular social media platforms, such as WhatsApp (2 billion users), Instagram (1.5 billion users), YouTube (2.6 billion users), and Facebook (2.9 billion users). Therefore, your best bet for a successful marketing strategy is email marketing.
- Email Marketing Drives Awareness and Conversion
When people open their social media, they often engage in mindless scrolling without paying attention to anything in particular. However, with an email, the readers’ attention is undivided. You can offer them any amount of information, knowing fully well that you have a firm grasp of their attention. Continuous conversions and messaging via email help your audience become acquainted with your project and what it stands for. While your email might also struggle for attention with your audience, outlining the content in a catchy and direct manner will help boost conversation.
- Evaluating Data and Insights
Email marketing does not only allow you to customize your content, but it also helps you to analyze how your content interacts with your followers. Email service providers, such as SendGrid and SendX!, have features, like analytics, that enable you to analyze and optimize your content. In other words, you can monitor how often your audience opens your emails, what kind of information they are open to receiving, what content drives them to action, etc. Using these as a guide, you can create content that is suitable to your audience.
Types of Emails
There are various types of emails you can opt for when designing an email marketing strategy for your crypto project. Experts recommend you experiment with the different types of emails before picking one for your crypto marketing; they include:
- Welcome Email
A welcome email is used to commence a relationship with your new customers. It is usually the first email you send to subscribers when they sign up for your mailing list. The mail welcomes your customers and summons them to learn more about projects or services. Welcome emails generally receive between 4 to 5x more attention and clicks than regular emails since most people are excited to receive information about your crypto project for the first time. Welcome emails feature free trials and other inducements that help to retain first-timers.
It can also be used to inform and guide your customers on any steps they may need to take and what to expect from your crypto project in the future.
- Onboarding Emails
These emails are provided to educate and guide your subscribers on how to use your product effectively. The purpose is to keep your users glued to the project so they can easily share it with friends and family. Onboarding emails include details about your project and its features and how your customers stand to benefit from using it. For instance, if your crypto project is about coin exchange, your onboarding email should inform your clients how to convert crypto assets in exchange for fiat or another coin.
- Referral Emails
This promotional email incentivizes your audience about your crypto project and how they stand to gain freebies by introducing your project to their friends, family, and other contacts, like co-workers. In other words, the email offers incentives for sharing your project with their network. Traditionally, there is an increased tendency for people to patronize a product when a trusted partner or friend refers to them. Sometimes, the Fear of Missing Out (FOMO) can also play a crucial role because if individuals see that their friends are buying or using something cool, they may be tempted to buy or use such a product or service.
When writing your referral email, it is advisable to use lines and phrases that get their attention. Afterward, proceed to inform them in detail what they stand to gain and how to gain it. Finally, include a call to action that is clear and precise.
- Newsletters
Newsletters are a popular type of email used to highlight new products and services. They are also sent to entertain, inform, or educate an audience about a particular product or topic of interest. You can also include customer reviews, articles, and blogs about your project in a newsletter. Newsletters can help you establish yourself as an authority in a particular crypto niche, further enhancing your brand presence and your project’s credibility. You can increase traffic to your website by adding links to your newsletter. This will enable your subscribers to learn about your project and boost sales.
How to Utilize Email Marketing for Your Crypto Project
From the preceding, it is clear that email marketing is an excellent method for boosting awareness of your project, making it central to your marketing strategy. Emails are vital in ensuring that your subscribers are adequately engaged, thereby boosting conversions and sales. Below is an essential guide on how to employ email marketing for your crypto project:
- Create an Emailing List
You need an email list to market your crypto project successfully. Most times, people prefer to purchase an extensive list of potential customers rather than starting from nothing and growing the list along the line. While this approach may be tempting, it is not the best method because it would not offer you long-term results. The best technique is to create an email list from scratch by interacting with your customers and learning more about them. A crypto project looking to break into the market must build a brand that connects with the target audience. You can ask your followers to subscribe to your mailing list or include signup links on your social media pages. Conduct period giveaway exercises on social media platforms to encourage email subscriptions or run website ads.
It is not enough to have an email list; it is important to periodically provide your subscribers with valuable information about your project, such as dates for your ICO, features, updates, etc. This way, you get to connect with them on a personal level, thereby boosting their loyalty to your brand.
- Properly Segment Your Audience
The cryptocurrency industry is a large global market; therefore, your mailing list must be properly curated and segmented according to your potential investor’s language. The first thing you need to do is to include a language option on your landing page or subscription form. Your website should be multilingual; this way, your investors can easily opt for their preferred choice of language. After receiving the required responses, you can further split your mailing list into different segments according to the language. That way, you will be able to send emails curated in the exact language your followers comprehend. You can also segment your mailing list based on the interests of your subscribers
- Be Consistent with Your Delivery
Brainstorm with your team how frequently you intend to send out automated and broadcast emails. Sharing emails daily might be a lot of work but also too much for your followers, who may be occupied with other matters. However, your audience may lose track of your emails if you only send them once a month. Therefore, it is vital to draft an emailing schedule that is consistent and frequent. Experts generally recommend sharing emails at least once or twice a week. This allows you to spread information about your project while enhancing your credibility with your audience.
Your email marketing strategy must contain call to actions (CTAs) designed to raise awareness about a particular action. Call to actions must be used according to the audience and your stage or marketing.
- Select an Excellent Email Service Provider
There are multiple email service providers you can select from the market today. However, not every email service provider offers services suitable for cryptocurrency projects. For instance, MailChimp, a popular email service provider, does not provide email marketing due to its policy on cryptocurrency. Therefore, your choice of email provider must align with your email marketing objectives. Some of the best email service provider software available include HubSpot, Drip, MailerLite, Active Campaign, Moosend, and Beehiiv. Your choice email provider must fit your budget, be easy to navigate and provide automation to scale your marketing efforts.
Most importantly, your email service provider must boost your deliverability rate and visibility.
- Optimize Your Email Service Provider (ESP)
Utilize the data offered by your email service provider to determine and optimize your email marketing. Regularly evaluate your marketing campaign performance through vital metrics, such as click rate, delivery rate, number of conversions, and open rate. This allows you to determine what is working, what is not working, and how to improve it. You can make informed decisions instead of working with assumptions and feelings.
Conclusion
Integrating email marketing into your crypto campaign is an excellent way to boost your project’s visibility. It, however, requires a proper understanding of the various rudiments of email marketing and how to go about the process. The techniques outlined above are a great guide on how to utilize email marketing for your crypto project and better grow your business.
Interested in marketing your blockchain/Web3 project? Please contact Patrick Hagerty at PatrickJHags@gmail.com for a free consultation and quote.
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