Opinion: Crypto’s PR and Brand Marketing Severely Affected by Educational Disparity
Disclaimer: The opinions expressed in this article are solely those of the author and do not represent the views or opinions of the editorial team at crypto.news.
You’ve probably heard about the flashy PR moves made by crypto giants like Crypto.com, Tezos, Binance, and the now-bankrupt FTX before the last crypto winter hit. This trend is set to continue during the upcoming bull run.
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While industry giants engage in expensive mass marketing campaigns, smaller companies with limited budgets are left with generic category ads that lack quality. Both approaches are ineffective due to a significant educational gap and a lack of distinctiveness, which makes it difficult for larger companies to stand out and limits the creativity of smaller ones. Without addressing this problem, crypto marketing professionals will continue to face a brand communications crisis.
Crypto giants rely on mass marketing tactics to reach a wider audience. They make big moves by partnering with high-profile celebrities, securing sponsorships, forming long-lasting partnerships, or striking one-time deals. In 2021, Crypto.com partnered with Matt Damon to gain financial support for his non-profit Water.org initiative. The same year, they entered into a $700 million naming deal with the owner of Staples Center, now known as the Crypto.com Arena. Tezos also secured a multi-layer sponsorship deal with Formula One world champion Red Bull in 2021. FTX teamed up with Mercedes-AMG Petronas F1 Team, and Binance tapped into TikTok superstar Khaby Lame to educate on crypto and web3. These moves aim to create brand recognition and attract users when they are ready to start using crypto.
However, this strategy only works if a company has distinctive brand assets. Unfortunately, most crypto brands lack distinctiveness and resemble each other. Without being easily recognizable like Coca-Cola, mass marketing campaigns won’t yield significant results. Moreover, due to the educational gap, the mass audience may not even pay attention to these campaigns, let alone remember them.
As a result, the mass marketing efforts of crypto giants fail to reach a wider audience and only raise brand awareness within the crypto community that already knows about them. Engaging in expensive initiatives and sponsorship contracts at this stage only demonstrates the company’s deep pockets without effectively reaching new users.
On the other hand, smaller companies struggle to gain recognition through mass marketing. With limited funds, they resort to generic category ads that lack creativity and fail to make an impact. Influencer marketing has emerged as a promising channel, but it often lacks the creativity needed for effective brand communication.
To break free from this bubble, it is crucial to narrow the educational gap in the industry. This would lead to improved brand communication and elevate the quality of content produced by niche industry voices. It would also enable marketing to reach a broader audience and popularize digital assets among the masses. By forming personalized connections with trusted influencers, we can bridge the gap and foster faster adoption of crypto.
The industry needs to focus on addressing these issues to stimulate the adoption of crypto technology and provide marketing professionals with the tools they need to effectively communicate with a wider audience. Investing in education and providing high-quality information will help the industry speak the same language and make crypto more visible and less intimidating to the masses.
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Alesya Sypalo is a PR and communications expert with over seven years of experience in the technology industry, focusing on the crypto industry for the past five years. She has contributed to raising brand awareness and shaping the public image of various crypto companies through her roles in PR and communications.
