It is an understatement to say that social media influencers have the power to make or break a product or brand.
From Kendall Jenner promoting the ill-fated Fyre Festival to A-List celebrities like Eminem sporting Bored Ape NFT profile pictures on Twitter, the power of celebrities on social media cannot be understated.
Whether a product is good or bad, when it is advertised by an online celebrity, its value and speculative audience grow exponentially.
As such, it is no surprise that many crypto projects heavily utilise influencer marketing of their products and projects, with the knowledge that these influencers could push their products to be the next big thing.
Are Influencers Perfect for Crypto Advertising?
Pros of Influencer Advertising in Crypto
There are many pros to influencer marketing. With captive audiences and a wide sphere of influence, influencers are one of the most efficient ways to get a product out to the right people.
However, when it comes to crypto, this aspect is especially important.
Cryptocurrency can be a tricky concept to fully wrap your head around for those inexperienced in the space.
In advertising, this can result in a myriad of consequences, from advertisers mishandling information to giving inaccurate information on a project, to real-world posters and adverts being unable to reach the target audience.
This is why crypto influencers are essential.
When an influencer understands crypto, they can understand why an upcoming project has potential, and the key selling points that specifically target crypto users.
With the knowledge and linguistics of crypto, these influencers are, on the surface, perfect vessels for targeted crypto advertising. These are people that are part of the community, and thus, can be trusted.
There are drawbacks to influencer advertising, however.
Cons of Influencer Advertising in Crypto
The most obvious may simply be that these individuals are influencers. Their whole lives are documented on social media, and as such are routinely scrutinised, with influencer scandals and drama being one of the cornerstones of online discourse.
Getting involved with an influencer, therefore, puts brands at risk if these influencers are shown to be in any way nefarious, especially with cryptocurrencies history with rug pulls, pump and dumps, and other similar activities.
It may be difficult to find a crypto influencer with a completely clean record away from these sorts of schemes, and if your brand is associated with one of them, the results could be devastating.
Furthermore, when an influencer routinely takes brand deals, their legitimacy may begin to be called into question. If all an influencer does is promote projects that they are paid to, how much can their suggestions be trusted?
The power of the individuals involved in influencer marketing is a double-edged sword.
BoostX Takes Things Back to Basics
With the inherent risks associated with influencer marketing, some crypto projects have decided to go against the grain, and reject this form of advertising.
BoostX takes a more traditional route to crypto advertising, using journalists with experience and integrity to create promotional work for cryptocurrency projects.
BoostX is a launchpad, meaning that their platform is one used to boost the presence of upcoming crypto projects during or leading up to their presales, and as such work alongside the projects utilising their launchpad to create mutually beneficial advertising materials.
While some launchpads choose to use influencers and online celebrities with whom they frequently collaborate to promote their launchpad projects, BoostX has decided to steer clear of this, and instead focuses its advertising efforts on creating good press through their journalism team.
There are a variety of benefits to using written advertising over video and image post advertising through influencers, though the most distinctive one comes in the form of engagement.
Videos are a passive media, as they do not need to be interacted with to be consumed. And while it is true that a video advertisement on social media may get more views and be seen by more people, the efficiency of this method is debatable.
Of the dozens of advertisements you see across social media every day, how many of them do you click on or research?
Text, on the other hand, is an active media, as it must be engaged with through reading to be consumed. This forces users to actively engage, look at and fully absorb the text. It is a method that may not make the same viewer numbers as a sponsored Instagram post, but it is likely to draw in a higher percentage of viewers to the project itself.
This is something BoostX understands, and utilises in their advertising.
Influencers are a powerful marketing tool in the world of cryptocurrency, with their ability to connect to a wide audience and create content that is fun, exciting, and easy to consume.
However, human nature will always be an obstacle for these individuals, both in their own behaviour and the beliefs of their followers. Influencers and their associated brands can be caught up in a scandal, or be victims of audience fatigue, resulting in a system that is great for brands, but not completely airtight.
As such, it should not be assumed that influencer marketing is the only advertising option for crypto projects. And that while influencers are essential to modern marketing, so too are the many other media forms.
Find out more about BoostX at: https://www.boostx.finance/
Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice