Decentralized finance (DeFi) is a subset of the cryptocurrency industry dedicated to decentralized financial services. It consists of several developer-created financial services that anyone can use. These services differ from centralized alternatives in that they are managed by decentralized organizations and give users more control over their money.
Financial inclusion engenders economic progress in any economy, let it be an under-developed or developing one. However, the financial inclusion index (FI-index) of most developing countries are on the lower side. Take India (for instance), the FI-index was 53.9 upon the completion of fiscal year 2020–2021. It also means that a considerable population is still unbanked at a financial institution within the country.
Financial protocols, tools, and solutions that use smart contracts to replace traditional financial infrastructure are referred to as DeFi. DeFi is based on blockchain technology, which has the potential to transform the financial system as we know it completely. Furthermore, anyone with a blockchain wallet and an internet connection can access and use applications. Furthermore, traditional banks do not require credit checks, KYC, or any other entry barriers.
Marketing Index in DeFi
Over the last few years, the blockchain, DeFi, and crypto coin industries have experienced explosive growth, resulting in lightning-fast market changes and ever-increasing competition. The DeFi industry took a giant leap forward after the pandemic became a necessity.
The decentralized finance (DeFi) and crypto movements aim to replace traditional financial institutions in all ways, shapes, and forms. Regardless of where you come from or who you are, the future of the financial ecosystem will be defined by the merging of “old-fashioned” banking services with blockchain technology. Thanks to a series of smart DeFi contracts and digital crypto coins, you have complete control over your assets, with no third-party interference.
Because it aims to penetrate very different market aspects, DeFi marketing is a complicated process. To bring in the capital that can be used for DeFi activities, we need to attract major and micro investors. Then there’s the other side of crypto marketing, which attracts investors. It opens up DeFi marketing services to a broader audience, with financial inclusivity at the forefront.
The Lead-up to DeFi Marketing
The product solves some of your audience’s problems before launching it and raising funds. Many companies have forgotten to test product hypotheses before they begin development and promotion, even though these things are extremely basic.
When startups test a concept and try to determine its promotion price, they aim for a minimum viable product (MVP). Your MVP will be in high demand if it solves some of your audience’s problems and has a good UX. It doesn’t have to be tidy, attractive, or well-designed.
Furthermore, having your smart contract audited has become increasingly important. Both investors and the crypto community pay close attention to it, and if there are any bugs in the contract, it will not attract investors or users.
Gamut of Defi Marketing Services
Defi projects must adopt strategies and tactics that can help them make the most of their overall marketing in an industry that is now fully saturated with both established and emerging crypto companies.
- Influencer Marketing
Rather than watching random explanatory videos, people prefer watching someone explaining it. More often than not, they want that ‘someone’ to be popular/familiar in a particular niche. Keeping influencers at the helm of your DeFi project will pay dividends.
- The crypto-specific influencers are effective in crafting their marketing messages via tutorials and analytical reviews.
- Most influencers follow a multi-channel approach, encompassing channels like YouTube, Instagram, Twitter, and more.
Influencer marketing forms the crux of the DeFi coin marketing services that bestows much-needed exposure on your project.
2. PR Marketing
Media engagement is quintessential, especially for the up-and-coming DeFi sector. Media outlets play an indispensable role in promoting your DeFi project’s objectives and such things. Crafting an all-inclusive PR article on your DeFi project would help people with a better understanding. You can write the article yourself or outsource it to a DeFi marketing agency so that you can focus on embellishing other aspects of your project.
3. Social Media Promotions
Building an outstanding community that allows for social exchange, engagement, and support is the key to effective social media engagement. It won’t be enough to share “how to” articles on your social media pages. You’ll need to develop a strong communication strategy, create memes, and share engaging content with your target audience. You can also use social media to provide community members with quick updates and additional information.
4. Search Engine Optimization (SEO)
Startups and young businesses frequently overlook SEO, but optimizing your website and creating commercial and informational pages is a must if you have long-term goals. When you look at the cryptocurrency exchange market, which has been fiercely competitive for the past two years, you’ll notice that all of the industry leaders have SEO-optimized websites and blogs.
5. Street Marketing
Yes, you heard that right!
DeFi marketing needn’t be an online-only process as it can also take the traditional (marketing) route. Librium Tech, a DeFi project, has recently used a truck around Miami to spread the word about its offerings. With a ground-breaking financial structure and never-before-seen tokenizing model, Decentralized Finance (DeFi) shall rely on traditional marketing tactics (as well).
In a Nutshell
Deploying the ideal tactics, be it online or offline, is what matters in the DeFi marketing space. Devising a foolproof DeFi marketing strategy is the first step in promoting your project. You can hire your marketing partner (aka) DeFi marketing agency to customize the strategy.