When it comes to promoting financial services and products that have been primarily banned by many social media platforms, you may feel like you’re walking on eggshells – and it’s no wonder. There are rules and regulations you have to follow – that’s unquestionable – but when it comes to successful crypto marketing, is Instagram the right platform for you?
As a content marketing agency who specialises in crypto/ICO/forex and blockchain marketing for the finance sector we know the challenges you may face, so let’s take a deeper look at Instagram.
Instagram and the Crypto Ban Warlords
Instagram is owned by Facebook and therefore when the first lot of Facebook crypto ad ban rules rolled out in January, they also applied to Audience Network and Instagram. Mark Zuckerberg and crew have since relaxed their rules and now allow “ads that promote cryptocurrency and related content from pre-approved advertisers,” while still shunning ICOs and binary options.
So, what does this mean for crypto marketing on Instagram? Well, basically, you’ll need the green light from the Facebook big-wigs! And, if you’re trying to catapult an ICO into the spotlight – be careful. Outright ICO advertising – which often includes pimping out that all important crypto token - is still not allowed but that doesn’t mean you should turn your back on Instagram altogether.
Instagram Stats – Why it’s Worth Your Time
If you look at the stats, Instagram marketing is indeed worth the hassle. This photo and video sharing app has over 1 billion monthly active users up from 800 million in September 2017. It is expected to cross 2 billion active users by 2023 showing the upward trajectory and positive sentiment for this totally cool social media site. The largest user group is between 25 and 34-years old too; a generation that readily embraces new technology and is happy to engage with companies online.
Indeed, one in every 5 organic Instagram Stories gets a direct message. And with 33% of the most popular Instagram Stories published by businesses, there’s certainly a market for your campaign. The question is: what can you do to promote your crypto products without unsettling the regulators?
Cryptocurrency and ICO Marketing Tactics for Instagram
As a marketer, remember you don’t have to launch a full blown crypto/ICO ad to be successful. There are many things you can do to drum up interest without getting into trouble.
Believe it or not, a whopping 95 million photos and videos are shared on Instagram per day, so be sure to get visual and treat your followers to a wealth of new material. Your content does not have to be overly promotional but could instead include graphs, charts, industry statistics, hilarious memes, funny pictures related to the industry, breaking news quotes, office snaps, conference snaps, images from a crypto launch presentation, meetings with investors and such like.
Here’s a great example of imagery from @ethereumproject which despite only posting 94 times already has just short of 20,000 followers on Instagram.
Takeaway 1: People go to social media for information – and to have fun. Embrace this by posting entertaining content that’s easy to like.
Takeaway 2: It is thought that no more than 11 hashtags are needed to create a buzz and attract the right audience, so be quirky, be relevant and keep your target market in mind.
Instagram Stories increase Instagram usage by an average of 28 minutes and can greatly improve interaction between businesses and consumers. The highest time for engagement on Instagram Stories is on a Monday and Thursday between 7 and 9pm. Therefore, it’s a good idea to release new content just before these times. Be aware, however, that viewers tend to drop off Instagram stories after approximately 4 seconds, so make it catchy and get your message across quickly.
You may even want to indulge in an influencer or expert takeover for a few days – the results could be extremely effective.
When it comes to crypto marketing on Instagram – the more people who are talking about you, the better, so make an effort to connect and interact with influencers.
While most crypto start-ups won’t be able to afford to collaborate with A-list celebs, it is possible to connect with micro-influencers. These are Instagram users with a high following that in the case of crypto marketing might be technology or finance enthusiasts. Essentially, they’ve built their audience base thanks to their niche knowledge and passion for a specific topic. Interestingly, it’s thought that a whopping 82% of consumers are highly likely to follow a recommendation made by a micro-influencer because they are perceived as more credible and knowledgeable.
So, what can you do?
As you can see from the post below, Influencer marketing is happening all the time. In this example top Blockchain influencer Tim Draper is giving a social media high-five to Ethereum co-founder Vitalik Buterin.
Takeaway 1: Incorporate visuals into your influencer marketing
Takeaway 2: Use exciting and relevant hastags to generate user comments.
What not to do on Instagram
Instagram for crypto marketing so far looks pretty good – but is there anything you shouldn’t do? Of course! Here are a few big no-nos.
As a content marketing agency with plenty of experience tailoring content solutions and social media strategies for the finance sector, we know what it takes to succeed. Contact Contentworks for fully managed crypto marketing solutions.
As a content marketing agency who specialises in crypto/ICO/forex and blockchain marketing for the finance sector we know the challenges you may face, so let’s take a deeper look at Instagram.
Instagram and the Crypto Ban Warlords
Instagram is owned by Facebook and therefore when the first lot of Facebook crypto ad ban rules rolled out in January, they also applied to Audience Network and Instagram. Mark Zuckerberg and crew have since relaxed their rules and now allow “ads that promote cryptocurrency and related content from pre-approved advertisers,” while still shunning ICOs and binary options.
So, what does this mean for crypto marketing on Instagram? Well, basically, you’ll need the green light from the Facebook big-wigs! And, if you’re trying to catapult an ICO into the spotlight – be careful. Outright ICO advertising – which often includes pimping out that all important crypto token - is still not allowed but that doesn’t mean you should turn your back on Instagram altogether.
Instagram Stats – Why it’s Worth Your Time
If you look at the stats, Instagram marketing is indeed worth the hassle. This photo and video sharing app has over 1 billion monthly active users up from 800 million in September 2017. It is expected to cross 2 billion active users by 2023 showing the upward trajectory and positive sentiment for this totally cool social media site. The largest user group is between 25 and 34-years old too; a generation that readily embraces new technology and is happy to engage with companies online.
Indeed, one in every 5 organic Instagram Stories gets a direct message. And with 33% of the most popular Instagram Stories published by businesses, there’s certainly a market for your campaign. The question is: what can you do to promote your crypto products without unsettling the regulators?
Cryptocurrency and ICO Marketing Tactics for Instagram
As a marketer, remember you don’t have to launch a full blown crypto/ICO ad to be successful. There are many things you can do to drum up interest without getting into trouble.
- Get visual
Believe it or not, a whopping 95 million photos and videos are shared on Instagram per day, so be sure to get visual and treat your followers to a wealth of new material. Your content does not have to be overly promotional but could instead include graphs, charts, industry statistics, hilarious memes, funny pictures related to the industry, breaking news quotes, office snaps, conference snaps, images from a crypto launch presentation, meetings with investors and such like.
Here’s a great example of imagery from @ethereumproject which despite only posting 94 times already has just short of 20,000 followers on Instagram.
Takeaway 1: People go to social media for information – and to have fun. Embrace this by posting entertaining content that’s easy to like.
Takeaway 2: It is thought that no more than 11 hashtags are needed to create a buzz and attract the right audience, so be quirky, be relevant and keep your target market in mind.
- Embrace Instagram Stories
Instagram Stories increase Instagram usage by an average of 28 minutes and can greatly improve interaction between businesses and consumers. The highest time for engagement on Instagram Stories is on a Monday and Thursday between 7 and 9pm. Therefore, it’s a good idea to release new content just before these times. Be aware, however, that viewers tend to drop off Instagram stories after approximately 4 seconds, so make it catchy and get your message across quickly.
You may even want to indulge in an influencer or expert takeover for a few days – the results could be extremely effective.
- Make the most of influencers
When it comes to crypto marketing on Instagram – the more people who are talking about you, the better, so make an effort to connect and interact with influencers.
While most crypto start-ups won’t be able to afford to collaborate with A-list celebs, it is possible to connect with micro-influencers. These are Instagram users with a high following that in the case of crypto marketing might be technology or finance enthusiasts. Essentially, they’ve built their audience base thanks to their niche knowledge and passion for a specific topic. Interestingly, it’s thought that a whopping 82% of consumers are highly likely to follow a recommendation made by a micro-influencer because they are perceived as more credible and knowledgeable.
So, what can you do?
- Make the most of hashtag searches to find relevant influencers
- Search for industry-related bloggers and look for them on Instagram
- Identify micro-influencers who are open to sponsorships – they will usually list their contact details in their profile
As you can see from the post below, Influencer marketing is happening all the time. In this example top Blockchain influencer Tim Draper is giving a social media high-five to Ethereum co-founder Vitalik Buterin.
Takeaway 1: Incorporate visuals into your influencer marketing
Takeaway 2: Use exciting and relevant hastags to generate user comments.
What not to do on Instagram
Instagram for crypto marketing so far looks pretty good – but is there anything you shouldn’t do? Of course! Here are a few big no-nos.
- Don’t ignore the ICO ad ban rules by simply posting whatever you like. If your account gets banned it will probably take a long time for it to be activated.
- Don’t be repetitive. Your followers want to see new and exciting content on a regular basis.
- Don’t copy your competitors. Crypto enthusiasts will likely follow many of the same accounts and don’t want to see information repeated in a parrot-like fashion.
- Don’t let your account sit there without being used. Stay active and engage your community. Be sure to follow relevant accounts as this could increase the number of followers you have.
As a content marketing agency with plenty of experience tailoring content solutions and social media strategies for the finance sector, we know what it takes to succeed. Contact Contentworks for fully managed crypto marketing solutions.