The Crypto Marketing Trap: Hire Crypto Experts

Every trader knows that trading on expectations, not market conditions, will liquidate their positions. If only crypto companies could follow the same logic and stop hiring marketers who go against the fundamentals of marketing with 100x expectations that they know better.

I’ve met dozens of marketers who think crypto marketing is a different beast. It’s easy to buy into this misconception, given that the industry is flashy, fast-paced and often feels like the The Wild West finances. Adding to this problem are pioneering founders of new crypto companies who believe their industry and products are unique, require a unique approach, and therefore hire specialists who know crypto better than marketing.

This has led to a wave of untrained crypto marketers concocting novel and ineffective solutions to grow their businesses. By blindly following industry trends, marketing departments often become a liability for crypto companies.

So if you have a marketing team that is constantly missing the mark and on the verge of being wiped out, follow me on this one.

How to spot a lame marketer?

1. Your marketer doesn’t go beyond leads. In crypto marketing, lead generation is like bread and butter, giving marketers clear attribution of ROI and impressive results that get everyone to sign off at board meetings. But let’s face it, relying solely on leads is like putting all your Bitcoins (BTC) in one wallet.

Do you know those tense internal meetings where we realize we’re losing leads at some point and your revenue conversion rate starts to drop? Yeah, that’s the tipping point. Some marketers call this a plateau and blame the market; others try to solve the problem with ABM or disrupt business processes. Surprisingly, this problem comes from a basic marketing constant that untrained marketers often overlook. They don’t know how to apply funnels and work with them. Follow me on to the next one, where it becomes clearer.

2. Your marketer is messing up the funnels. Imagine you’re a startup with a new cutting-edge, hack-proof crypto wallet. I bet your marketing manager is touting the wallet’s ultra-secure features, thinking it’s the key to success. But if you’re a startup and no one knows your brand exists, it’s basically screaming into the void. Just like an influencer without followers, their messages won’t reach where they should.

Where is the funnel, you might ask? Let’s zoom out: By default, lead generation brings prospects interested in your product, your category, and the problem solved. Here is the funnel we use to represent this journey: top, middle and bottom of the funnel.

Needless to say, the juiciest prospects are always at the bottom; they are the smallest and most sought-after group. Now consider that your marketer needs to demonstrate short-term marketing accountability that is clear and visible at the board meeting. How can he achieve this, given that the number of prospects with active demand at the bottom of the funnel is low?

The first thing he would commit to is bringing more leads to the top of the funnel and nurturing them until he gathers the necessary volume. And that’s when he runs into a problem. If he took the basic marketing course, he would know that active customer demand comes from the brand awareness funnel, which is:

While generating leads at the bottom of the funnel seems like the most direct path to sales, it’s essential not to overlook the importance of a brand awareness funnel to increase your active demand.

How to proceed:

Take a look at Ledger, the rockstar of the hardware wallet world. Initially, Ledger focused on the bottom of the funnel, highlighting its product’s “Fort Knox”-level security features to boost sales. Sure, they caught a few customers, but then hit a resistance level.

Realizing they needed to up their ToFu game, Ledger shifted gears. They started hosting big crypto conferences, attending blockchain events, and rubbing shoulders with crypto influencers. This power move sent their brand recognition through the roof (ToFu).

But they didn’t stop there. Ledger has gotten into the content game by publishing educational articles and videos on crypto security and best practices, boosting its brand memorability (MoFu). As cryptocurrencies became more widely known, Ledger became the hardware wallet of choice over the competition (BoFu).

This comprehensive approach across the stages of the funnel has led to a sustainable growth model. The increase in brand awareness at the top eventually trickled down, increasing conversion rates at the bottom.

3. Your marketer doesn’t know it And . All crypto traders know what long and short mean, but do they know what it means in marketing? They represent short-term sales enablement and long-term brand building, and the secret to successful marketing is to do both.

If you know the demand generation curve, know that no matter how hard you try, you probably won’t be able to scale in the long term. I recommend reading a book called ‘The long and the short» by Peter Field and Les Binet, where the data speaks for itself.

The most common mistake marketers make when it comes to scaling is focusing too much on short-term sales enablement activities in order to maintain and show immediate results to management. The problem is that increasing sales does not promote long-term growth or increase market share.

How to proceed:

Take a look at Binance. They didn’t get to the top by simply shoveling short-term promotions and sales down our throats. No, they played the long game, big time. Binance has dedicated resources to long-term brand building initiatives such as educational initiatives and community engagement. Binance Academy, their education center, is full of resources on blockchain and cryptocurrency. This isn’t just a side project: it’s a real trust-building and knowledge-spreading project that has helped Binance solidify its market dominance and keep the growth train moving .

Identify a good marketer

1. Your marketer applies long-term and short-term marketing. Now, telling the difference between these two is like navigating your way through a maze blindfolded. You can market your products in two ways: the long version and the short version. The long process of building a brand is about the big picture, that is, building your brand over a long period of time. It’s like planting seeds and waiting for them to grow into big, beautiful trees (letting people know about your tech brand, convincing them that your soft drinks are perfect for all occasions, or making them believe that your luxury cars are , well, luxury).

Meanwhile, the method of activating short sales is more like: “Let’s sell something now!” It’s all about getting people to act quickly (by visiting your website, purchasing your latest appliance, getting their hands on a seasonal pumpkin spice drink, or test-driving your new car. You know, the urgent things ).

Think of it this way: the short path is more like a sprint to the finish line, while the long path is more like a walk with a few detours to admire the scenery. Both will get you there, but they have different vibes.

And here’s the best part: if you combine both approaches, you get the best of both worlds. You develop your brand over the long term while making immediate sales. It’s like planting those seeds and nibbling on some ripe fruit while you wait for the trees to grow.

2. Your marketer finds the balance. So, if you’re still hesitant, I have one word for you: balance. Short-term tactics can get you quick results, but they need to be balanced with long-term brand building efforts. The key is to find the right balance between the two.

You don’t need to reinvent the wheel to maintain sustainable marketing performance. Effective lead generation is as much about brand awareness as it is about demand generation. The principles of crypto marketing are basically the same. It’s all about getting leads that actually convert. Yes, this applies to both B2C and B2B.

Start building customer awareness well before the prospect even considers knocking on your door. By combining both strategies, you can create a powerful marketing approach that fuels sustainable growth.

For my beloved crypto company owners

Finally, if you own a crypto-related business, hire people with a background in marketing rather than crypto. They will know how to apply these principles effectively because, unlike your current recruits, nothing written here is new to them. In doing so, you will avoid the usual pitfalls and steer your business towards lasting success. It’s like choosing between someone who only knows how to hype a coin and a strategist who can navigate bull and bear markets with finesse. Trust me, you want the strategist.

Ilias Melikov

Ilias Melikov is a marketing leader with over a decade of experience in the technology industry. His work is based on the principles of long-term brand building and short-term tactical marketing, balancing sustainable growth with measurable results. Throughout his career, Ilias has held key positions as Marketing Director, Brand Marketing Manager, Communications Director and Editor-in-Chief. By orchestrating campaigns that amplify brand awareness and drive user adoption, he excels at crafting clear and precise brand narratives, executing performance-driven marketing strategies, and managing multi-channel engagement strategies. Passionate about decentralized technologies, Ilias actively contributes to discussions on their transformative impact on global markets.