Could Traditional Marketing Strategies Be Effective in Advertising Crypto Projects
For generations, marketing has been a vital part of the growth and success of any business. Companies often rely on marketing campaigns to get new customers and high sales before launching their projects. Crypto projects are no exception; they require even better advertising techniques.
Why Traditional Marketing is Good for Crypto
Traditional marketing is any promotional mechanism that does not use online means to disperse information. It’s the oldest form of promoting projects involving posters, mobile phones, print media, billboards, and direct mail. It’s the easiest way to reach local audiences in their everyday lives. The question is, can traditional marketing help promote crypto?
Reach All Demographics
Most if not all of the crypto space is mainly popular with the millennial generation. That’s because millennials are the biggest users of the internet.
The main benefit associated with traditional marketing is its ability to reach all demographics, not merely the millennials. Past reports indicate that around 2.9 billion people don’t have internet access. Since crypto is mostly online, 2.9 billion people do not get to see crypto-focused promotions.
However, traditional promotion techniques can reach the billions of people who don’t have internet access. Traditional marketing systems can advertise crypto to persons without internet connections. Thus, traditional marketing techniques can reach all demographics, accelerating crypto’s mass adoption.
Reaching People With Special Needs
Digital marketing does not provide advertisements that can reach people with special needs. But traditional marketing like Radio can accommodate such people. For instance, the blind cannot follow what’s happening on Twitter but can get their information from the Radio. As such, you market to everyone.
Foster More Trust in Crypto
Another reason why traditional marketing could work well in crypto is that it fosters trust. The crypto world has not reached the right level of faith across the globe. However, by using traditional marketing, the crypto space would enjoy more investor confidence.
Traditional promotional techniques offer more investor and customer confidence than digital forms. When you get an advert on Twitter about a crypto project, you are never 100% sure- you may take lots of time to research the project thoroughly. However, when you get an advert in a newspaper, you tend to trust it more.
Usually, large and highly acclaimed companies get space in newspapers to promote their projects. Hence, for a very long time, newspapers, TV, and radios have been associated with massively trusted companies and ads. If a crypto project uses newspapers for advertising, the crypto world will garner more trust.
It’s Possible to Blend it With Digital Marketing
While traditional marketing uses seemingly old systems, it can be integrated with digital marketing. This can include putting a call to action statement on every traditional ad directing people to social media pages and websites where they can access more real-time information.
For instance, a crypto project can use banners and newspapers for advertising. On the banners, newspapers, etc., they could add a QR code that directs people to online content. Remember, the idea is to ensure that this community that trusts traditional projects can get information that refers them to digital marketing.
Problems Associated With Traditional Marketing
We have already established that traditional marketing can be good for crypto promotions, but some drawbacks make it hard to implement. Among them include;
Costly
Unlike modern marketing techniques, traditional ones are pretty costly. An ad in a newspaper could cost between $2700 and $100k. The production of a Tv ad could cost somewhere between $1k and $50k, without distribution costs which could hit hundreds of thousands. Radio ad costs could also hit hundreds of thousands of dollars depending on the number of listeners. Digital advertising is way more affordable, sometimes free.
Highly time-Consuming
Unlike digital marketing, traditional marketing requires lots of time just to set up and complete a single ad. It requires a lot of time to create an ad, edit, fine-tune and print it out to avoid errors, and reach your audience.
Limited by Jurisdictional Bounds
While traditional marketing is capable of reaching different demographics, it’s often limited by geographical bounds. Radio stations are often limited to regions, states, or countries. If you use the systems in marketing crypto projects, you will either undergo high costs to reach all regions or limit your reach to small areas.
Is Traditional Marketing Good for Crypto?
The simple answer is Yes. As discussed above, traditional marketing can be good for the crypto space. It carries several benefits that could help increase the adoption of a blockchain project and the crypto space.
For instance, traditional marketing can easily access all demographics, young and old, internet and non-internet. As such, crypto projects can quickly gain adoption from people of all sorts. Moreover, traditional marketing can help crypto projects gain more trust from people.
While it’s beneficial, traditional marketing also has its perks. The costs and time associated with this marketing technique are often very high. Due to the high costs, startup crypto projects may find it hard to use the systems. Moreover, traditional marketing is usually limited to a small geographical bound.
However, the two marketing techniques, traditional and digital, can be merged to achieve optimal advertising. Combining them will capture the attention of almost everyone and boost the web traffic for crypto projects.
