There are still too fee businesses that have keyed into the cryptocurrency wave, which is a major reason why winning new investors still takes a lot of persuasions and convincing. Not to say it is a bad thing to persuade new investors, it just takes a little more work than if more businesses integrated bitcoins into their payment.
There are many benefits of accepting Bitcoin from expanding the customer base to increase in sales. In addition, cryptocurrency can actually be used to improve your marketing efforts. Let’s take a look at some tips on using cryptocurrency as a boost for marketing your business.
Low Transaction Costs
According to Sarah Austin, a Forbes 30 Under 30 member, “ right now, crypto transactions are complex, and if you’re using an unfriendly middleman to convert your transactions to fiat currencies, you could pay a hefty amount—but on the whole, cryptocurrencies are designed to support lower transactional costs, since you don’t have to go through a bank to process your payment. Those lower transaction costs could help you offer a discount to your customers; advertising that you’re switching to a new system of payment that will allow you to lower your prices will be a popular point for your advertising campaign.”
The Crypto Enthusiasts Love It
Once cryptocurrency enthusiasts become aware that your business accepts their preferred currency and others as well, they become excited and do some free promotion for your business. They will go on Twitter and make a thread about this amazing business that accepts crypto, they will tell their friends and share with their contacts in their online communities. “Crypto enthusiasts are serious about making their preferred currency go mainstream, so they’ll be thrilled to hear your business legitimizing it. If crypto community members have a strong overlap with your target demographics, this could be enormously beneficial”, Sarah Austin explains.
Create Brand Awareness Around Your Business Accepting Cryptocurrency
It is not enough to accept cryptocurrency and hope that word gets out, you should actually put in some effort to see that people know about it. Making the decision to accept cryptocurrency is a fantastic step that you can actually leverage on by writing a press release. Sarah Austin, a Blockchain marketing influencer adds “Chances are, you’ll get some media coverage out of the deal—especially if there aren’t many businesses in your location or in your industry currently doing the same.” This might actually help you reach potential customers who may have never heard about your brand or business.
Competitive Advantage
Making the decision to accept cryptocurrency at your business might do a lot more in differentiating you from your competitors. This might give you the advantage in winning the larger share of the market. Accepting Cryptocurrency could be the one aspect of your business that will make your marketing efforts look a lot more appealing to potential customers.
Position Your Business As A Thought Leader
Cryptocurrency is sometimes marketed as the currency of the future, and that is very close to reality. There is a huge advantage attached to being among the pioneers of business who adopt cryptocurrency. This positions your business as forward-thinking, And passionate about bringing cryptocurrency to more customers. Your business will be seen as a thought leader in the market and that is very good for your brand’s reputation.
Bitcoin ATM
As part of your marketing efforts, ensure that your campaigns include accessibility to Bitcoin ATM. This will give potential customers the confidence to become a part of the cryptocurrency sector. Companies like SatoshiPoint have done an amazing job with making Bitcoin ATMs available in many locations in the UK.
