Since its popularization back in 2008, the blockchain industry has grown to incredible heights, being valued at a total of $7.18 billion in 2022. From explosive growth within cryptocurrency to blockchain’s permeation into everything from security to healthcare, this industry is certainly not going anywhere anytime soon.
Due to the rapid growth of blockchain, many new companies in this industry have begun to crop up. One of the first decisions new blockchain businesses must make is whether they want to take a hands-on approach to marketing or hire an agency to cover their bases. In this article, we’ll be covering the benefits of both approaches, guiding you toward making the right choice for your business.
Let’s get right into it.
What are the Benefits of DIY Blockchain Marketing?
When approaching any form of marketing, there is always a slight temptation to DIY. Not only does this save your business a cost, but it also means that you have complete creative control over your campaigns.
Typically, there are four reasons that people move towards doing their own blockchain marketing:
- Cost-effective – Blockchain marketing agencies can be costly to hire. Although they tend to deliver a much higher quality campaign than that which you could produce by yourself, it also comes with associated fees. If you’re a new business, you might not have the capital available to use on a full marketing campaign.
- Speed – When working through a blockchain marketing agency, you’ll likely have to go back and forth about strategies, refining the campaign that you launch over time. Whereas when you DIY, you’ll be able to launch as soon as you’ve designed the campaign.
- Learning experience – CEOs often wear more than one hat, with DIY marketing giving you the opportunity to learn on the job and create a valuable experience through running the campaign.
- Creative – Blockchain marketing campaigns managers might have a different vision to you about what your campaign should look like. When you DIY, you have complete creative control over the process.
Faster, cheaper, and much more personalized, DIY can be a valuable option for those that don’t currently have it in their budget to hire external marketing help.
What are the Benefits of Hiring a Blockchain Marketing Agency
As with all styles of marketing, hiring an agency will afford you a trained team of experts to help you craft the perfect campaign. While DIY campaigns are about creating something and hoping it works out, a crypto marketing agency will be able to pinpoint exactly the style and tone that will resonate with your intended audience.
Let’s look at some of the main reasons for hiring a blockchain marketing agency:
- Blockchain marketing is harder than digital marketing – Blockchain marketing is much less stable than traditional marketing, being a much newer practice. Due to this, it’s much harder to get your campaign off the ground within this niche when compared to other forms of marketing. While DIY is realistic in traditional digital marketing, it’s much harder to pull off an effective campaign in the blockchain space.
- Know the market – With a history of rug pulls and potential scams, blockchain has painted itself into a corner where not many fully trust the space. Due to this, the structure and style of these marketing campaigns are radically different from traditional formats. A blockchain marketing agency will have knowledge of which media avenues to use, what style of campaign is effective, and how exactly to create an impactful project. The experience you gain within a specialized blockchain marketing agency can be vital to your success.
- Highly-effective campaigns – If you hire one of the best crypto marketing agencies, you’ll be getting access to years of experience. With this knowledge, your hired team will be able to use their expertise to craft highly-effective campaigns, covering everything from the perfect copy to complete search engine optimization.
- Better ROI – Hiring a marketing agency ensures that you have an entire team devoted to one thing – making your campaign a success. While hiring an agency does cost money, it comes with an incredible range of benefits, helping you to get your message out there and create a buzz around your project.
Whether you’re launching a blockchain platform, the next big cryptocurrency, or an NFT collection, a blockchain marketing agency will be able to use their advanced knowledge of the niche to create an effective campaign for you. While there are benefits of doing it yourself, marketing agencies will offer a level of professionalism and effectiveness that you’ll rarely be able to capture yourself.
While nearly 500 blockchain companies are founded each year, only some will go on to be the next big success. One of the core differences between projects that explode in popularity and those that fizzle out is good marketing.
If you’re looking to fast-track your growth, boost conversions, and create public appeal, then hiring a blockchain marketing agency is the most effective way of doing so.