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You may have heard about the significant PR moves made by crypto giants like Crypto.com, Tezos, Binance, and the now-defunct FTX before the onset of the last crypto winter. This trend is expected to continue during the upcoming bull run.
Industry leaders are actively involved in costly mass marketing campaigns, while smaller companies with limited budgets are left to settle for low-quality category ads. Both approaches are ineffective due to a significant educational gap and a lack of uniqueness that makes it difficult for larger companies to stand out and restricts smaller ones from being creative. Without addressing this issue, the crypto marketing sector will continue to face a crisis in brand communication.
In 2021, Crypto.com collaborated with Matt Damon to secure funding for his Water.org initiative. The company also signed a $700 million naming deal for the Staples Center, now known as the Crypto.com arena. Other notable sponsorships include Tezos partnering with Red Bull and FTX teaming up with the Mercedes-AMG Petronas F1 Team. Binance also engaged TikTok star Khaby Lame to educate on crypto and web3, as well as launching an NFT collection with Cristiano Ronaldo.
These crypto giants are impressing the world with their willingness to invest in high-profile celebrities for sponsorships, endorsements, partnerships, and one-time deals.
While larger companies focus on mass marketing efforts, targeting a wider audience, smaller businesses face the challenge of limited funds and resort to generic category ads lacking creativity and a solid STP strategy. Influencer marketing has emerged as a promising channel, but the format often lacks innovation in brand communication.
Closing the educational gap in the industry is crucial for improving brand communication quality and popularizing digital assets among a wider audience. This would enhance creativity and effectiveness in marketing strategies, leading to increased profitability for businesses and fostering faster adoption of crypto technologies.
By bridging the gap between the tech-savvy crypto community and the general public, the industry can overcome challenges and accelerate the mainstream acceptance of crypto. Investing in education and providing high-quality information to audiences will ultimately lead to a more inclusive and successful crypto market in the future.
For more insights and opinions on the crypto industry, be sure to check out our other articles on crypto.news.
About the Author:
Alesya Sypalo is a PR and communications expert with over seven years of experience in technology, specializing in the crypto industry for the past five years. As a PR advisor and owner of the Crypto PR channel on Patreon, she has played a key role in raising brand awareness and shaping the public image of various crypto companies through media relations, content marketing, social media marketing, brand marketing, and influencer marketing.