When marketing a crypto or Web 3.0 project, there’s no better way than email marketing. It is a form of direct marketing. This marketing tactic can do wonders with engagement, revenue, and growth. Experts rate it as an excellent strategy to spread information about the coin, new product launches, offers, etc.
But quality is paramount. A well-executed email marketing campaign can help produce outstanding results. Before diving into crafting an email marketing campaign, build an email list.
Make sure only to get those people who might actually be interested in the product to stay clear of spam filters. This will help you keep a clean email list.
The best way to engage in email marketing is to hire an email marketing service or software to start the campaign. But before discussing it, let’s focus on the pain points first.
The Pain Points
Crypto marketing is a tricky thing to do because most crypto startups are considered a scam until they can establish serious trust. And without getting the word out, a crypto project has little chance of survival.
For this, a crypto startup needs to have excellent content, reviews, case studies, videos, podcasts, articles on reputable crypto platforms, PR, and social media.
Check out this video to know all ins & out of crypto marketing on TikTok:
Moreover, the crypto industry is too technically advanced, making it difficult and expensive to employ online marketing services.
There’s no denying that some people may associate crypto email marketing with spam. But the truth is, if done well, it is one of the most effective marketing channels.
In terms of ROI, it is believed to offer the best ROI. But to get the best results, it is vital to do it the right way.
While lucrative, email marketing can be pretty complex, so how to approach it in the cryptocurrency industry?
This email marketing guide will explore its benefits and best practices for profitable results.
Relevant Content: Best Marketing Channels for DeFi
Why Email Marketing?
Thanks to targeted marketing emails, email marketing for crypto startups is a highly effective technique for promoting a crypto project. Let’s see all the benefits email marketing can offer to crypto startups.
Own the channel of communication
Unlike social media accounts that can be blocked or removed, taking away a considerable following in seconds, email is an open channel of communication that no one company or individual owns. Here, a company or an individual can communicate without restriction, making it the most preferred communication channel for playing a long game.
Choose the desired format
With email, a crypto startup can send content in a format that suits them, such as text, graphics, videos, or GIFs. They can even use all the formats in the same content to best convey their message.
Reaching a wider audience
According to statistics, in 2020, there were a total of 4 billion email users globally. Also, a whopping 306 billion emails were sent and received every day worldwide in that year.
Compared to this, the largest social media channel Facebook has 2.9 billion users, YouTube has almost 2.6 billion, WhatsApp has 2 billion, and Instagram has nearly 1.5 billion users, as of January 2022.
Analyzing data and insights
Not only does email marketing enables a crypto company to personalize their content through email marketing, but this mode of communication also allows them to see data on how their content is interacting with the audience.
Email service providers also offer analytics to know what sort of audience likes the emails, how many times they open them, what drives them to take action, etc. Based on that, a further course of action can be designed to optimize future campaigns.
Achieving conversions
Capturing attention is the most challenging part of social media, and even more difficult is keeping it. Mindless scrolling is what goes on social media, but with email, it is possible to have readers’ undivided attention.
For any business that wants more than just several followers and likes, email is the way to go, which allows them to convince their audience to take action.
Relevant Content: Top Web3 Marketing Agencies
Types of Emails
It is better to experiment with different types of emails to build a strong email marketing strategy.
Welcome email
A great way to start a relationship with a new customer is through a welcome email. This is the first email that subscribers receive after they sign up to be on a list.
Welcome emails tend to receive 3 to 4x more clicks and attention than regular emails, as people expect to receive confirmation and are excited to hear from their favorite crypto company for the first time.
A crypto company can take this further by including a vital step the user has to take or sharing what they can expect in the future.
Onboarding emails
These emails are sent to educate subscribers about how to use a product effectively.
The aim here should be to get users’ results and feedback after using the product, so they stick and spread the word to their family and friends.
Make sure to explain all the steps in detail and with visuals as to what’s to be done. Clear instructions are a must.
Relevant Content: Guide to Web3 Marketing Strategy for 2022
Information about features
If a user provides their email address, they want to know more about the product. Send an email about the product features, inform them how it will benefit them, and how to use that feature.
The user may discover a feature that will make them stick to the platform or upgrade their plan. For instance, a crypto wallet or exchange can inform how people can convert one crypto asset for another.
Newsletters
Newsletters are a great way to inform an audience in detail. It can be used to educate and entertain them. By choosing topics that the readers want to know more about, a crypto company can have an audience looking forward to their newsletters.
Link the blog or website in the newsletters to increase the web traffic. This may even help people discover a new feature or offering that, in turn, could increase their sales and revenue.
Referral email
This word-of-mouth initiative allows a crypto project to incentivize its existing customers to introduce their family, friends, and contacts to their company. People are more likely to buy something when referred by a trusted friend.
In such an email, a crypto company can roll out an incentive for their existing customer to refer them to their family and friends.
Best Practices
Now let’s take a look at all the things a crypto company must do or avoid.
Outline the strategy
Before starting, create a strategy. Begin by setting up goals and an ideal audience. Remember that email plays an essential role in keeping the user base engaged, generating and nurturing leads, encouraging sales, and increasing lifetime value.
This step will help with just how to approach email marketing further down the road.
Relevant Content: Best Marketing Channels for GameFi | Guide 2022
Build the email list
While buying off a huge list of potential users may feel tempting instead of starting from zero and waiting for people to discover the crypto website, this is not the right approach. Doing so won’t bring long-term results.
Instead, the goal should be to connect with customers and know more about them, as it will actually drive more sales. So, building a list from scratch and keeping it updated is the ideal way here.
A crypto startup must start the right way, which is to build a brand by taking people’s consent to send them emails. They can ask their website visitors to subscribe, put a signup form link on social, host giveaways on social media in return for subscribing, or run ads on the blogs.
You Might Also Find Helpful: How to Promote a Newsletter
Craft a good copy
Once the email list is ready, work on the email copy. Remember, subscribers react better to personalization, so use their names and other data. As for the content, ensure that the title and first paragraph attract readers’ attention and keep them hooked on learning more about the topic.
Deliver value
To get results from email marketing, provide value to users. Instead of making it about the company alone, emails should be about the reader. Before sending the onboarding emails and newsletters, think about whether this will be useful for the reader.
The frequency
Sending an email daily will not only be too hectic but can also be a bit too much for the audience. But readers might lose track of a crypto company if they send emails only once a month.
So, a crypto company must brainstorm how frequently they should send their broadcast and automated emails. Build a suitable frequency, such as once or twice a week, that helps them deliver the best results.
Relevant Content: Top Metaverse Marketing Agencies in 2022
Choosing a provider
There are thousands of email service providers available in the market today. But a crypto company must only choose the service provider that aligns with their email marketing goals. And, of course, someone that fits their budget and requirements.
Well-known email marketing software includes Mailchimp, Active Campaign, Beehiiv, MailerLite, HubSpot, Moosend, and Drip.
The email marketing tool should be easy to use and offer automation to scale marketing efforts. But of course, most importantly, choose a service provider that provides a reasonable deliverability rate.
Optimize
Use the data provided by the email provider to optimize email marketing. Keep track of the audience to tackle the issues well in advance. Measure campaign performance by using metrics like delivery rate, open rate, click rate, and the number of conversions.
Analyze data to observe what’s not working and test if to improve it.
Following all the points mentioned in this guide will help any crypto company start email marketing and execute it better to grow their business.
