One of the core factors to consider when hiring a crypto marketing agency is the cost. Here’s the detailed answer if you’re wondering about the cost of promoting your crypto project.
Considering and planning for the cost of your crypto marketing campaign is a crucial step in ICO budgeting. ICO Marketing involves promoting an ICO to its target audience to attract investors and achieve the desired funding goal.
The cost of crypto marketing may depend on several factors, including the type of marketing strategies employed, the type of crypto project or product, paid and organic campaigns, the target audience, and the project duration.
Determining the exact cost of marketing a crypto campaign before you start can be challenging. The best you can do is come up with an estimate, which is good enough to help you understand the financial requirements of effectively marketing your crypto project. We are here to help.
To estimate the cost of a crypto marketing campaign, it is imperative to analyze the many factors affecting and contributing to this cost. In this article, we will take a look at the various aspects of cryptocurrency marketing cost and will try to figure out the estimated cost of promoting different types of crypto projects.
According to SAG IPL, a leading blockchain marketing services provider, “the average cost of crypto marketing ranges between $10,000 to $50,000, depending on the project size.”
What is Crypto Token Marketing?
Before we start, you must understand how crypto marketing works and what the process involves.
Promoting a cryptocurrency can be a long process and may involve a series of marketing strategies and techniques, including paid marketing channels.
You have two options when looking to promote your cryptocurrency–opt for a standard package or ask for a tailored marketing plan. The second option is usually better because different projects may have different marketing needs.
A tailored crypto marketing strategy allows you to choose the marketing channels and tactics that are the most suitable for your goals, budget, and requirements.
A typical crypto marketing process involves tactics such as search engine optimization, social media marketing, content marketing, email marketing, influencer marketing, PR and media, community building, and paid advertising.
The cost of promoting a cryptocurrency may depend on several factors, including the project type, duration, marketing strategies, and others. We’ll discuss all these cryptocurrency marketing cost factors in detail here.
1. The Types of Marketing Strategies Employed
Not all token marketing strategies work for all kinds of crypto projects. Depending on the type of your cryptocurrency or project, you may take a tailored approach with marketing channels that fit your goals and budget. Here are some top cryptocurrency marketing tactics:
Search Engine Optimization
SEO is by far the most effective crypto marketing technique. It involves improving the search engine ranking and presence of your crypto project website to attract more traffic and potential users. SEO is a multi-tier and long-term process and can take months to show results. The SEO cost also depends on the number and competitiveness of your target keywords.
Average Cost of Crypto Project SEO: $200 to $1,000 per month
The actual costs may vary based on your specific requirements and goals. Always choose quality over quantity when hiring a cryptocurrency SEO agency.
Social Media Marketing
Besides SEO, social media is the second best way to promote a crypto project. With billions of people using social media every day to network, learn, and engage, it can give outstanding exposure to your new cryptocurrency and help reach and connect with potential clients.
On average, a social media agency for cryptocurrency charges in the range of $500 to $1,000 per month, including the cost of content creation and social media management. This doesn’t cover the cost of advertising on social media.
Content Marketing
Content is an integral component of any digital marketing strategy for cryptocurrency. Content marketing for crypto involves creating and sharing highly engaging content around crypto-related topics to reach, educate, and engage your target audience.
You can use a variety of content to capture user interest, from blog posts and videos to white papers, e-books, use cases, news, infographics, and more.
Crypto Content Marketing Cost: The average cost of a standard content marketing campaign can be $500 to $2,000, depending on the number and type of content.
If you’re also creating videos as a part of your crypto content marketing campaign, the above cost may further increase by up to $1,000 per month, depending on the number and type of videos.
Email Marketing
Emails are a form of direct communication in marketing, where you send emails to specific people to tell them about your new product, offer, or launch. The goal is to reach out to relevant people who might be interested in your product and convince them to take action.
You can either use one of the email marketing tools or hire an email marketing agency for cryptocurrency to promote your ICO project effectively by leveraging the power of emails.
The average cost of crypto email marketing is $500 to $1,000 per month, as reported by some top email marketing tools.
Influencer Marketing
Influencer partnership is another popular marketing technique among projects in the crypto space. It involves forming meaningful partnerships with relevant and authentic crypto influencers to leverage their community and credibility to promote your project.
The cost of influencer marketing depends on the type and reach of the influencer and may vary between $1,000 (small influencers) and $5,000 (top-tier influencers).
Some famous influencers charge up to $10,000 or more per post on social media. You need to find an influencer that matches your budget and goals.
PR and Media
Public Relations, or PR, is a great way for crypto founders to expand their reach and exposure to crypto enthusiasts. It involves communication with your target audience through relevant press releases, news, and interviews around your project. PR management also involves managing your overall online reputation and building credibility.
Crypto PR Marketing Cost: The cost to promote a crypto campaign on PR platforms may range between $1,000 and $3,000, including content creation (press releases) and consistent media coverage.
Community Building
Community is a core part of a crypto project. The stronger your crypto community, the higher will be your success probability. Building a cryptocurrency community involves reaching out to crypto investors and enthusiasts, telling them about your project, and persuading them to join your project’s community either as a user, an investor or a brand advocate.
Your community can be a powerful marketing tool for your blockchain project. These are people who are loyal to your brand and help promote it via their networks and contacts.
Some popular community-building platforms are Reddit, Discord, and Telegram.
The average cost of crypto community building may range between $1,000 to $2,000 per month
Paid Advertising
Besides organic marketing, you might want to use ads to quickly reach your target audience and attract more investors. Paid advertising can be expensive though.
Crypto advertising involves promoting your cryptocurrency or project through advertisements via popular ad networks such as Google Ads, social media ads, etc.
Depending on the type of advertising you’re employing, you may have to pay for each lead, click or view on your ad, irrespective of whether it converts or not.
The average cost of paid advertising for crypto can be $1,000 to $10,000+ per month for different ad platforms and types.
To sum up, based on the marketing strategies/tactics, promoting a crypto project can cost you around $5,000 to $10,000 per month, including organic and paid marketing channels. Next, we discuss the cost of crypto marketing based on the project type.
2. The Type of Cryptocurrency Marketing Project
The project type is another major factor that impacts the price of a crypto marketing campaign. The marketing cost may depend on whether you’re creating a blockchain-based platform, an ecosystem or an exchange for digital assets. The bigger and more complex the project, the more time and money will be required for marketing.
Some common types of crypto marketing projects, along with estimated costs, are as follows:
Cryptocurrency (token) marketing: $1,000 to $2,000 per month
Crypto Exchange Marketing: $2,000 to $5,000 per month
Blockchain App Marketing: $1,000 to $3,000 per month
Token Sale Marketing–ICO, IEO, IDO, STO: $1,000 to $2,000 per month
Web 3.0 Marketing: $2,000 to $5,000 per month
NFT Marketing: $1,000 to $3,000 per month
Crowdfunding Marketing: $1,000 to $2,000 per month
Consult with a crypto marketing agency for a better estimate based on your crypto project’s specific marketing requirements and goals.
3. Paid Vs. Organic Marketing
As mentioned before, the cost of organic crypto marketing vs paid marketing is different and separate. Depending on your budget and goals, you can choose from the available paid marketing options. There are several choices available, such as Google ads, display ads, influencer promotion, sponsored content, and others.
The cost of organic marketing is rather low since you’re paying only for resources. All the traffic and leads are generated organically through Google, social media and other sources. This is why it’s called organic SEO.
The major costs in a cryptocurrency organic marketing campaign include content creation costs and agency costs, which may also cover SEO, SMO, email marketing, and other costs.
When running a paid crypto marketing campaign, you have to pay all the above costs, plus the cost of advertising. The advertising process includes ad creation, ad posting, lead generation, and campaign management. Each step has a separate cost. This is why paid advertising is more expensive. However, it can produce results faster than organic marketing.
4. Target Audience
Considering your specific target audience is important when determining your crypto project marketing budget. List down your target markets, demographics, and use behaviours. The more diverse and global your audience is, the higher the marketing cost.
You need to define your target audience by age, gender, location, and interests. Rather than including the entire crypto market, which can be huge, focus on your specific niche and people who can directly benefit from your crypto product or service.
5. Competition
The cost of marketing is directly proportional to the competition. Thanks to the rising popularity of cryptocurrencies, this has become an increasingly competitive space over time. If you’re building a generic product that many other companies have already built, your success chances will be fairly low and the marketing cost can be quite high due to high competition.
You should focus on building a product for a specific audience or for a particular problem that people in the crypto space are facing. Find a unique idea with low competition but high potential, and you can build a great product with little marketing.
6. The Project Duration
The cost of marketing a cryptocurrency project may also depend on the project’s duration. Most marketing companies charge by week or month. So, the longer you retain their services, the more you might have to pay.
However, if you’re in it for the long term, you should keep using marketing services for as long as possible to leverage the best SEO benefits for your project. Long-term SEO is the best way to maintain your market reputation and a strong community for your token.
7. DIY Vs. Outsourcing
When looking to promote a crypto project, you have multiple options. You can do it yourself if you have marketing experience. You can hire and manage an in-house team of marketers. Or, you can outsource to a professional agency. Each of these options has its merits, demerits, and costs.
Doing it yourself is the least expensive option if you have the skills and time. Marketing a cryptocurrency is not easy. It can be competitive and take a lot of hard work to make your new token stand out. Be sure that you’re up for the challenge.
Hiring an in-house team is a good but expensive option. You have to pay their salary even when you’re not getting any results. Then, there’s the additional load of hiring the team, managing the project, training and guiding them.
The third option, to outsource, is the best for many reasons. It’s cost-effective because you pay exactly for the services and resources you use. You can un-hire them when you want. You get high-quality services and results, thanks to the experience and expertise of a professional crypto marketing company.
How to Maximize Your Crypto Marketing ROI and Reduce Cost
There are various things you can do to ensure your crypto marketing efforts are worth the money and time you’re spending.
Use high-ROI Channels: Find and use marketing channels that are known to produce the highest ROI for cryptocurrency projects. For example, community-centric apps such as Telegram and Reddit are particularly good places to promote your crypto project.
Focus Organic: To keep the cost at bay, put more effort into organic marketing channels, such as SEO and content marketing, which are equally, if not more, effective than paid channels, particularly in the long term.
Do It Yourself: If you have some SEO experience, you can do basic marketing by yourself. If you’re planning to hire, go for a low-cost crypto marketing agency instead of building your own team, which can be expensive and difficult to manage.
Track & Optimize: Keep monitoring the performance of your marketing campaign based on analytics data. Make changes in your strategy, if required, to optimize performance. Dump plans that are not working.
Conclusion: Crypto Project Marketing Cost
The cost to promote a cryptocurrency or blockchain project depends on many things, including marketing strategies, project type, complexity, target audience, competition, and others. Define your budget and build your marketing strategy accordingly by selecting high-ROI channels that are best fit for your project’s specific goals and needs.
Improve your reach & visibility on Google and get more customers/sales through high-quality and effective digital solutions from SAG IPL digital marketing agency.
Quality Assurance
Get the best quality digital solutions, website or marketing services every time with guaranteed results.
Dedicated Teams
Hire any number of developers, designers and/or marketers to work as a part of your own team. Pay as you use.
On-time Delivery
Always get the delivery of your project on time with 24x7 support and free changes or modifications.
TAKE THE FIRST STEP TO DIGITAL SUCCESS
Fill out the form to schedule a FREE consultation with one of our experts. We promise it’ll be worth your time. Tell us about your project and/or requirements in a few words.
