While the crypto sector may still be in its nascent stages, influencer marketing is causing a stir within the digital asset world. Celebrities such as DJ Khaled, Paris Hilton and Floyd Mayweather have all used their A-list status to help endorse crypto projects and as the industry becomes increasingly competitive, many brands are collaborating with well-known figures to get noticed.
The only problem is, influencer marketing often comes with a rather hefty price which is why crypto newbies and struggling start-ups often shy away from the idea completely. But does it always have to be so pricy? The good news is, no! With content agencies such as Contentworks leading the way with innovative and cost-effective influencer marketing solutions, you don’t have to go over budget for a single YouTube video or tweet.
Influencer Marketing – When the Costs Are Sky High
What you pay depends on the type of influencers you want to work with and the results you’re looking for. If you want to reach thousands of people across the globe, then choosing someone with a high following on social media is a must – but be prepared to pay for the privilege. Crypto proponent John McAfee reportedly charges $105,000 per tweet for promoting cryptocurrency projects to his 861,000 Twitter followers making him one of the industry’s most-expensive influencers.
When it comes to influencer marketing, the more followers someone has, the more you’re likely to be charged. It’s kind of a popularity contest in which those with the largest following are considered cooler, more knowledgeable and more powerful with the ability to make the biggest difference to your brand.
Here are some typical costs for influencer marketing on two channels:
YouTube – influencers with over 100,000 subscribers can charge anywhere between $500 to $1500 per 1,000 views. Therefore, if they hit 10,000 views in a month you can expect to pay anywhere between $5,000 and $15,000. To put things into perspective, this is about 5 times what you would expect to pay in the video marketing space.
Twitter – Twitter prices tend to vary from $25 and $100 per thousand followers. So, if you were looking at the likes of leading crypto influencer and partner at Multicoincap Vinny Lingham with 159,000 followers on Twitter or Litecoin creator Charlie Lee with 783,000 followers, you should be prepared to flash some cash.
Influencer marketing on a low budget
So what happens if you can’t afford such big price tags? Well, with the help of a content marketing agency like Contentworks, you can:
Follow and engage with crypto influencers
First things first, follow and engage with crypto influencers who share similar values with your brand. The more active you are on social sites and the more you pay attention to what’s going on, the more likely you are to stand out – especially to micro influencers who have fewer followers and therefore more time to for engagement and to recognise your contributions.
Generate great content and post it across social channels
One of the best ways to get noticed within a competitive online space is to generate interesting, thought-leading, unique and inspired content. While re-tweeting here and there is fine, it’s essential to set yourself apart as a company that produces content others want to follow. By doing this, you may naturally attract crypto influencers who want to know more about your brand. They may even re-tweet one of your posts which should have a positive knock-on effect. Concentrate on posting to social channels but also remember to target high-end publications as part of your PR strategy.
Mention and tag crypto influencers in your posts
Tagging an influencer in a post of the highest quality is a great way to cause a buzz amongst those who could impact your company. Many micro influencers enjoy being featured in ‘top ten’ articles and will often share the work you’ve done with their followers as it’s good for their ego to have such publicity. This is organic marketing at its best.
Create influencers within your business
If you don’t want to be spending big money on influencer marketing, why not carve a reputation for yourself as a crypto influencer and encourage people to search for you? To do this, you must perfect your online reputation, streamline your social channels and make sure all information is correct and relevant. You must then research, study your industry and produce top-quality information that’s rewarded by an increased follower base.
So to conclude, it’s fair to say that influencer marketing within the crypto space can be expensive, but with the right knowledge and approach, there are ways to keep your costs down. If you need help with your content marketing and social media strategies, contact the Contentworks team today.