Skip to main content

Customer journey in Cryptocurrency market

 The rise in Bitcoin and Blockchain may bring a new era of cryptocurrency in recent years. Thoughts of digital marketing in these high-fluctuated digital products might be hard to find the correct answer. A look at the customer journey of these investors will help us have an overview of crypto marketing.

There is no doubt that word of mouth and press and especially Bitcoin reputation is the first touchpoint to direct the newcomers into the cryptocurrency market even before and after the outbreak. Then people Google search with keywords such as Bitcoin  (BTC), cryptocurrency, blockchain, then a lot of blogs with SEO keywords appear to help users discover the world of cryptocurrency. These are technological products and not all users are tech-savvy, they need a community where they can learn from other investor advice, cases and ask any question they are curious about. The community can be Facebook groups or Telegram groups, Telegram has higher security for the community to share the information


Once again, social media plays an important role in the customer journey where the influencers can contribute to the success of a project. Twitter, Reddit, and now is  Clubhouse are the most useful social media channels for the influencers in the cryptocurrency market.

Besides, the crypto companies use a touchpoint quite different from the traditional ones such as white papers, bounty campaigns, airdrop, and on-chain vote which make the crypto is more transparent and engage more users. In terms of retention, the investors want to hold the crypto and return to buy when they see the potential of this crypto in the long term. Information in road maps must always be updated on social media and Telegram or group chats or be repeated by the influencers.

In the long-term, the users tend to be familiar with their crypto community and the influencers to consider a new project and decide to invest to. Social media with high security is the top priority to engage between crypto products and users. Paid promotion is a tool to display banners, videos on social platforms and one more solution is affiliate marketing to the cryptocurrency website with the aim to gain traffic from them. Cryptocurrency is a sensitive market, bad news can have a  big negative impact on the crypto and there are thousands of competitors are planning to destroy the brand reputation, online reputation management helps to maintain the positive reputation of crypto companies.

Comments

Popular posts from this blog

Uniswap V3 Breakdowns - State of adoption in DEX (P.8)

  On 23 March 2021, Uniswap team announced the details of their upcoming V3 release but it officially launched on 5 May 2021.  As a result, all analysis of Uniswap V3 would take place from May 2021 onwards.  Fig. 47.  Number of market supported on Uniswap V3 A day after its launch, about 280 new pools were formed in which the 0.3%-fee market had 151 pools because users were becoming accustomed to the general fee of the previous version. Besides, users also created many new pools in the 1%-fee market with 99 new pools. Other lower fee tiers were not of favor to liquidity providers, 0.05%-fee market has only 31 new ones, while no pool was in 0.01%-fee market. Up to now, the number of pools created on V3 has been fairly limited, averaging only about 2 to 20 pools established daily (Fig. 47). It is insignificant when compared to V2.  Fig. 48. Daily positions created in Uniswap V3 in May 2022 In May 2022, on average, more than 300 positions were generated every day;...

State of adoption in DEX (P.10)

  A powerful incentive of AMM-based DEX for liquidity provision The results from analyzing the operation of Uniswap V2 and V3 reveal answers to the research question. In most circumstances, exchange operators have a motivation to attempt to and enhance the observed volume on a certain exchange. Increased volume indicates increased liquidity and trust, which will attract more people. This motivation may differ for completely decentralized exchanges, but it is a significant aspect to consider for most existing ones. According to the previous section, V3 market is extremely active when gradually occupying the market share of its predecessor, especially recently when the number of users participating as traders in both versions has become equal. Although the number of pairs made on V3 cannot be compared with a huge variety of pairs on V2, it does not affect the number of swaps executed on V3, particularly in May 2022. All these aspects are facilitating V3 to be an attractive market for...

Concentrated Liquidity Market Maker (CLMM) - State of adoption DEX (P.5)

Concentrated Liquidity Market Marker Curve finance (Micheal 2019) adjusts the pricing curve to tackle the capital inefficiency of CPMM, both Balancer and DODO have constructed a new oracle-based pricing curve; while Uniswap has innovated version 3 with a new definition of “Concentrated Liquidity Market Maker” or CLMM that enables liquidity providers more power over the price ranges in which their fund is utilized, with minimal impact on liquidity dispersion and gas inefficiency (Adam et al, 2021). Whitepaper of Uniswap V3 (2021) provides several innovative features:  Concentrated Liquidity: LPs are given the authority to limit their liquidity within an arbitrage price range. This increases the capital efficiency of the pool and enables LPs to estimate their chosen reserve curve but remain optimally aggregated with the rest of the pool.  Adaptable fee: The transaction fee is no longer fixed at 0.3%. Instead, the fee level for each pool is determined at the time of initiation wi...