Why Marketers Need to Pay Attention to Cryptocurrency

Last year, the world of cryptocurrency was in the epicenter of one of the greatest turmoils in the history of modern business. Sure, in the last several months, the value of the cryptocurrency market dropped to a degree. However, with the newly-anticipated growth in the nearest future, it might be the time to revisit this topic once more, even address it from a different angle. With this in mind, here are several reasons why marketers need to pay special attention to cryptocurrency in order to forward the entire industry.

1. More efficient at explaining

The greatest misconception by people who have no previous background in cryptocurrency or IT is that the difference between Bitcoin and Ethereum or Ripple is like a difference between USD and GBP or EUR. In truth, unlike the latter, cryptocurrencies function on different principles and technologies, which makes them structurally different. Therefore, they have different physical traits, which is why it would be easier to compare them to raw materials, each of which has its own set of properties.

The greatest problem with explaining this lies in the fact that, most of the time, this is left to the IT guys, who aren’t really accustomed to talking to complete laymen. When it comes to layering down the essential differences and using simple analogies, this is something that marketers are much better suited for. In a situation where you need someone to write a blog post or even a white paper on this topic, you need to make sure that they are as marketing- as they are tech-savvy. This is especially important when we talk about terms like ICOs.

2. Explaining that it’s not all about Bitcoin

One of the greatest problems with Bitcoin is that a lot of people (who have only heard about Bitcoin) use the name of this coin as a synonym for the term cryptocurrency or even digital currency. This is more or less the same as the problem with people who use the term UFC (which is a name of the organization) as a synonym for MMA (which is a combat sport).

In the era where people are more seriously considering the prospect of investing in cryptocurrencies, it’s important to let them know what other options they have out there, as well as to help them understand the differences. For instance, they can choose to buy Dash and find this coin much more to their liking. First, however, some myths have to be debunked. 3. Appealing to new target audiences

When they first appeared, only the most tech-savvy of people used cryptocurrencies. In other words, no explanation was required, seeing as how a person who didn’t understand it wasn’t supposed to use it in the first place. Nowadays, people of all age groups, professions and demographics are investing in cryptocurrencies, which means that these startups now have to find a way to compete for customers they don’t fully understand. This is where marketers come in, seeing as how it’s their job to do proper market research and hand-tailor an ad according to their strategy.

4. Agencies and governments are getting involved

With all this talk about regulation and ever-changing circumstances, it’s more than clear that when the agencies and governments get involved, the regulation will make it much safer for wide masses to get involved in this market. In no time, average people will hold a major share of the market, which means that industry changes will shift towards user experience even more than they are currently invested in it.

5. Blockchain could change the business world as we know it Finally, even those marketers who don’t care about the world of cryptocurrencies might soon discover that the latest tech trends may become a new industry standard. The blockchain technology is ushering a new era in the world of safe and reliable online transactions and interactions. In fact, there are some who claim that this technology holds the power to change the internet as we know it. To digital marketers around the globe, this could be a massive game-changer.

Conclusion

As you can see, this a two-way street and the world of digital currency could benefit from experienced marketers as much as marketers have to gain from this lucrative industry. Overall, it won’t be long until the world of digital currencies and the world of digital marketing become inseparable from one another.

Carolin Petterson is a Business Lady/Content Marketer and contributor for a number of high-class business and marketing websites.