“Growth strategies like Airdrop and Influencer Marketing are going to be the new era in the promotion of Crypto-based services. They have the power to increase brand awareness, create liquidity, and help reach more investors.” – Marketing Guru, Balamuralie
In the realm of Crypto-Currency, Airdrop Marketing has the influence to promote the awareness of new virtual currency.
What Is Airdrop Marketing?
Why Do Airdrops Work?
Airdrop Marketing is the exclusive release of a limited number of coins or tokens to wallet addresses. These tokens represent new virtual currencies, and are sent to the wallets of active members of the blockchain community, either in return for a small service – such as a retweet of re-post sent by the company issuing this new currency, or for free. Ultimately, the goal of Airdrop Marketing is to promote awareness and to circulate the new token or coin.
Looking Deeper into Airdrop Marketing
Airdrops work well because their limited tokens generate a hype, increasing the market value of cryptocurrency and/or NFT tokens. Additionally, this hype and promotion further supports a project’s credibility in the ever-changing Crypto-verse. The superiority generated from Airdrops widely extends to beyond sales, instead, it is now one of the most effective marketing tactics relating to overall organic development. To put it simply, Airdrops have the ability to greatly elevate a project by enticing new investors or by rewarding current investors to draw in more.
“In certain ways people are getting free lottery tickets. There will be a tsunami of airdrops this year.” – Matthew Roszak, Co-Founder of Bloq, the Enterprise Blockchain-Technology Company.
Airdrop Campaign Types
Like many things in the Crypto-verse, Airdrop Campaigns come with choices. Here are seven types of Airdrop Campaigns:
A Standard Airdrop Marketing Campaign allows for a specific amount of tokens/coins into the ‘crypto storage app’. The objective of this campaign is to incentivize more participants to take on the token. At this stage, simple tasks will be introduced to the participants – such as newsletter signups, providing a crypto wallet address and opening an account with the project.
The Free Drop is how it sounds, you will Airdrop your token/coin for free. However, you do not do this to just anyone, you need to be strategic with this type of campaign. Look for people who are active in the space, with a following or not. Users with a presence in the space, and specifically, those who are active in projects similar to yours will yield much better results than a spray and pray method. Anyone who receives a free token in their wallet may be interested enough to, at least, check out the project, especially if the token has any worth.
A Bounty Airdrop Marketing Campaign is the next step in the promotion of a project. This campaign allows for the distribution of Airdrops to users who will market the token/coin. At this level, the promotions can take place across different social media platforms, such as Reddit, Facebook, and Twitter – in terms of joining discussion forums, posting on the platforms and so on.
4.| The Exclusive Airdrop
This Airdrop Marketing Campaign is Loyalty Exclusive – it is available for the loyal participants/users of a particular project. Therefore, projects use these airdrops as a means of reward for their most loyal customers/users. A factor of this campaign is that this Airdrop has no precondition stage.
Hard Fork Airdrops come into being when the protocol code of a token/coin changes – followed by a new token/coin being created in the newest version of the blockchain. Thereafter, any existing tokens/coins that users have in their wallets, will be replaced with an equal amount of new tokens/coins. When Hard Fork Airdrops occur, the blockchain splits, resulting in the creation of a new blockchain version that has been based on the original token/coin.
The Holder Airdrop is a type of Airdrop that occurs when a person has a specific token/coin in their wallet at a specific time. The process requires that a Project captures their customers’ data (their cryptocurrency wallets at a given day and time). Thereafter, the amount of funds individual wallets have available will determine the size of the airdrop.
The Raffle Airdrop can be combined with several Airdrop campaigns above. More often than not, projects will be upfront in the number of Airdrops they plan to give away – motivating participants to earn a Raffle ticket. Thereafter, the Raffle tickets can be earned by holding current tokens, earning points from projects, or even just expressing interest in the project. Generally in campaigns, the rate of interest in an Airdrop is higher than the amount of Airdrops that will be dropped – to keep the interest going, projects choose Raffle Campaigns, where limited wallets will be randomly selected.
“Free money is a powerful motivator.” – Richard Dulude
The Benefits of Airdrop Marketing
If you weren’t sold on the Airdrop storm yet, here are eight reasons to help:
Airdrops are a practical way of generation hype for projects. Through the buzz created, people will be interested in projects with Airdrop campaigns – resulting in a growing audience and a stronger network ready to participate. Also, the greater the buzz, the greater the chance of attracting new investors.
2.| As a means of Promoting an ICO [Initial Coin Offering] Campaign
Airdrop Marketing is effective when spreading the word about your project or service. While ICO Campaigns may be expensive to launch during a project’s initial stage, Airdrops are cost-effective as it involves using tokens that a company already has, to market their projects. Moreover, as Airdrop Campaigns are advertised on a number of different platforms, investors can be brought in from any and all of them.
3.| Lead Generation
One of the most important marketing goals is to generate valuable leads for the project. Airdrops can easily aid a project in finding valid leads to fulfill this goal. For instance, lead generation begins when participants are required to fill out forms by providing information essential to the project/audience. With the right message, businesses will be able to attract the right prospects, gaining valuable leads.
Participants are generally only required to complete simple tasks before they receive their Crypto Airdrop as a reward. With these simple tasks, projects will easily achieve their marketing goals by rewarding participants for promoting the coin/token for them. Moreover, Airdrop campaigns attract participants because everyone likes ‘free things’.
Marketing tokens/coins through blockchain Airdrop Campaigns is affordable. Tokens are only needed to attract the audience, where multiple participants will gain interest. Moreover, when individuals learn that something is free, their interest is sparked. Thereafter, they will want to participate in order to receive the advertised tokens/coins.
Airdrops are a wonderful way of building brand loyalty. As the campaign platforms will be far and wide the audience reach will be larger. Additionally, receiving ‘free things’ also encourages a sense of brand loyalty. To top it off, an invested audience means that the buzz will be spread among their project communities and discussion panels, gaining even more individuals to the project.
Finding Trusted Airdrops
As always, it is important to research before committing to any Airdrops – this is essential when it comes to syncing your wallet to any website. When doing this, ensure that the site is an Official site and is linked to the actual project.
Airdrop Takeaways
Using Airdrop Marketing is a great way to attract individuals to your project. And it is exceptionally simple – participants are able to receive something for almost nothing – an email address or a simple social media promotion. Additionally, hype generation is an almost guarantee when tokens/coins are in demand – adding to an increase in token/coin value and an increase in the project awareness.
Like any marketing tactic, Airdrops are just another tool to have in your arsenal. For a complete list of NFT & Web3 Marketing Tactics, check out our Marketing Guide. Here, you’ll get a complete list of ways to market your project to success.
For Professional Support and Consultation on how to put all the marketing pieces together, feel free to Contact Us for all your Performance Marketing needs!