Although associated with spam, crypto email marketing is maybe the most effective marketing channel you can ever get. But there is a catch. It only brings amazing results if you do it right.
As a matter of fact, when it comes to returns on investments, many marketers believe email can offer the best ROI. According to HubSpot, you can get $36 on every $1 spent.
If it’s that lucrative, why doesn’t everyone do email marketing?
Well, the answer to this question is quite complex. But the main reason is that email marketing is harder to do right than most online guides lead you to believe. Some professionals dedicate their entire lives to email marketing and still discover nuances to every project they start.
But to make it easier for you, we’ll do our best to present how you can approach email marketing in the cryptocurrency industry.
Table of Contents
Understand how crypto email marketing works
At the very basics, crypto email marketing won’t be that different from other industries. You’ll need to start with a strategy, then find an email service provider, build a list if you don’t have one, and send your campaigns.
Yet, things start getting complicated when you consider that your strategy needs to match the context of the crypto market, which is bound to act quite differently than the established markets. As for the email provider, your first concern is if the platform allows crypto operators to use their services. Then, you need to figure out how to get an emailing list of crypto enthusiasts. And last but not least, you need to be careful that your copy is relevant to your subscribers and does not fall victim to spam filters.
On the bright side, once you establish your audience in the cryptocurrency market through emails, you can nurture leads and communicate your special offers faster to a warm audience.
Outline your strategy
Before starting, you should put some effort into creating a strategy. This will help you figure out how you approach your email marketing activity further down the road.
Begin by setting up your goals and your ideal audience. Keep in mind that email is particularly powerful when you want to encourage sales, generate and nurture leads, keep your user base engaged, and increase lifetime value.
Depending on the type of project you have, select what you want to carry out through crypto email marketing and focus your effort in that direction. If signups are what you need, then buttons within the email will be essential. If you need to distribute your articles, your primary interest will be automation capabilities to send emails as your articles are posted.
As for the audience, it gets a little more complicated. You can’t be too picky, but neither should you take every address you find on the internet. From the start, you should strategize to gather the email addresses of people categorized at least by geographical location and maybe language. And if you have the possibility, even by interests and behavior. But we will get into the specifics when we get to building your email list.
Finding an email service provider
When you’re done outlining your strategy, you need to select an email service provider before getting into action. And as mentioned before, you need to mind their policy.
According to Investopedia, the 6 best email marketing campaign software of 2021 are:
- Active Campaign;
Mailchimp is easy to learn and use, also coming with a free plan. However, the free plan is limited to 2,000 contacts, doesn’t allow scheduling, and it can get rather pricey as your subscriber base grows. Their policy prohibits the promotion of Initial Coin Offerings.
Active Campaign is best known for its automation features. However, the lite plan is very limited and is quite difficult to learn. Regarding cryptocurrency, Active Campaign does not allow sending marketing content promoting certain financial services, cryptocurrency, services related to certain token sales, decentralized finance systems, mining or staking services, or non-fungible tokens.
MailerLite is known to be the easiest email marketing software to use. It has a drag-and-drop interface, making it quite intuitive to create templates. Also, the free plan allows 1,000 contacts. However, it doesn’t include CRM functionalities and may ask a little too much company information. When it comes to cryptocurrency, MailerLite doesn’t have any restrictions as long as the company has opt-in subscribers.
HubSpot is an all-in-one marketing suite titan. The platform comes with a plethora of tools and reports for all of your marketing campaigns across various channels, plus a bunch of training resources. It doesn’t have any free plan but bills you depending on the contacts you are marketing to. However, HubSpot’s value can be really felt only when you are looking to move in all your marketing and sales activities. It’s not the best choice if you’re looking only for an email marketing software. HubSpot is not known to terminate crypto accounts, but the policy says that the company does reserve its right to discontinue accounts that have operations related to cryptocurrency.
Moosend is the best choice when pricing is the deciding factor. It has a 1,000 subscribers free plan, and the paid plans are relatively cheaper than most competitors. However, the UI/UX is quite basic and prevents users from sending campaigns from Gmail or Hotmail addresses. Regarding cryptocurrency, they do not have any explicit prohibition.
Drip is considered the best email marketing software for e-commerce because of advanced workflows and list segmentation, but it lacks drag-and-drop functionality for designing templates. Also, it doesn’t restrict cryptocurrency explicitly.
Build your crypto email list
In marketing, the more you know about your customers, the more you will be able to drive sales. And that applies to cryptocurrency email marketing too.
Therefore, short-sighted approaches like buying email lists or phishing email addresses won’t get you far.
To reach an exponential ROI with crypto email marketing, you need to build your list carefully from scratch and update it regularly. So, an email marketing software that provides signup forms, tags, and segmentation can be helpful in this regard.
But first, you need to figure out how to draw in the right audience to subscribe to your list.
How do you do that?
The simple answer is that you get that signup form in front of the internet users that resemble your ideal customer the most. But that’s easier said than done.
Yet, for building a cryptocurrency enthusiasts subscriber list, you can:
- Ask your website users to subscribe;
- Ask your social media users to subscribe;
- Ask other websites’ users to subscribe;
- Find them offline.
Ask your website users to subscribe
The first and most straightforward way to build your email list is to get your website users to sign up.
To do that, you should first implement a subscribe form within the footer and a pop-up that prompts users to subscribe to your newsletter. The pop-up can appear either after a certain period of time (30 seconds) or when the user wants to exit the website.
SIDENOTE. Just to understand how powerful a simple pop-up can be, we’ll tell you how it has performed for us up until now. In December 2020, we’ve implemented a newsletter subscription pop-up. By December 2021, the list has grown X10 times.
In any case, you can encourage the users to subscribe by promising that you will keep them updated with the most important development of your business, offer exclusive content, offer a discount, or grant access to events such as airdrops or private sales.
And if you do not have much traffic on your website, to begin with, you can get it by doing the following:
Search Engine Optimization – optimize your website so that search engines will show your website in their results. A blog is highly recommended.
- It can give you a lot of traffic that you do not pay for directly for a long time.
- You don’t have to go out of your way to find new clients, they come to you on their own.
- Leads coming through organic traffic may have a higher buying intent.
- It’s relatively difficult to set up and takes quite some time to see results.
- In the beginning, the investment can be rather significant.
- Your rankings are not a given and may change anytime a new update comes out.
- You don’t have much control over who finds your website, and some industries are difficult to rank in.
Paid Ads – set up a paid advertising campaign to get the traffic you need. For example, you can display your ads with Coinzilla on top cryptocurrency websites and gain qualified visitors.
- The results come in fast, and you get to choose who finds out about your website.
- You can hook your audience with your value proposal right before they get on the website.
- You can bid for more exposure and buy the positions you desire.
- You need to pay for the traffic, and your budget limits the number of visitors you get.
- You’ll get conversions only from a part of the paid traffic you get.
Ask your social media users to subscribe
Be it Twitter, Facebook, or LinkedIn; you can engage and create a community of like-minded people thanks to the growth of social media platforms. And thanks to the social media dynamics, users tend to flock by interest, ultimately giving you a pretty well-defined demographic.
You can build up an email list if you’ve got a social media community by simply asking them to subscribe.
Unfortunately, no matter how active and engaged your followers are, most of them won’t see your organic posts. So, you can boost the reach of your posts by promoting them to all your page’s followers. This way, you’ll be able to gather new email addresses faster.
Ask other websites’ users to subscribe
Nowadays, the affiliate marketing sector is flourishing, even in the cryptocurrency sector. By using services such as Coinzilla Marketplace, you can find all the websites you want visitors from.
Keep in mind that most reputable publishers will be reluctant to promote subscribing to your email lists directly. Yet, you can promote contests that require users to sign up or get sponsored articles that talk about your project.
Once the users reach your website, a well-crafted value proposal will be enough to make the visitors subscribe to your email list.
Find them offline
Although it’s old school and involves some logistical efforts, building your email lists by asking people in the real world can be one of the most effective ways. It’s not the most efficient, but when you’re talking to someone at an event, it’s easier to convince him to sign up for your email campaigns.
Craft good copy and improve it
If you’re already set up on the technical side and the email list is ready, all you have to work on is the email copy.
When you’re just starting, the first thing you want to know is if your subscribers react better to email personalization. If you use their names and other data, do they convert more?
And the text length is a big deal as well. More text details in the email may draw more attention to some projects. To others, a short text and a graphic do the trick.
Some even say that your email’s text should fit on one mobile screen. But no matter what opinion you choose to listen to, you need always to make sure that your title and first paragraph are able to hook your readers into learning more about the topic.
Measure your crypto email marketing performance
The real work of an email marketer starts after you send out your first campaigns and start seeing the first results. That’s because every successful marketing effort requires performance measurement and constant improvements.
There are lots of metrics you can track. But in the beginning, you should keep it simple and measure:
- Delivery rate;
- Open rate;
- Click rate;
- The number of conversions.
With delivery rate, you will track if the email reaches the imboxes. You need to make sure that this rate is as close to 100% as possible; otherwise, the email marketing platform might deactivate your account.
With open rate, you will track how many subscribers from your audience are actually opening your emails. You can improve that by making the subject more appealing. A catchy sentence, an emoji, and introducing the subscriber’s name in the subject might improve your open rate significantly. And by introducing the subscriber’s name in the subject, you may even pass some spam filters.
With click rate, you will track how many of your subscribers have actually clicked the link you’ve attached in the email. A persuasive email that states the advantages and the benefits or hooks the reader into finding out more will improve the click rate. Emphasizing your call-to-action buttons will also impact your click rate positively.
The number of conversions will tell you how many desired actions took place. It depends a lot on what’s your goal. If you want sign-ups, sales, or deposits, tracking conversions is your top priority to understand how email marketing performs. Look into our article about conversion rate optimization to understand how to pump those numbers up.
Yet, if your goal is to get readers on your article instead of a clear conversion, then you should track the landing page’s bounce rate and average time on page.
- Many marketers believe email can offer the best ROI. According to HubSpot, you can get $36 on every $1 spent.
- At the very basic, to do crypto email marketing, you’ll need to start with a strategy, then find an email service provider, build a list if you don’t have one, and send your campaigns. Additionally, you’ll have to mind the particularities the cryptocurrency market comes with.
- According to Investopedia, the 6 best email marketing campaign software of 2021 are Mailchimp, Active Campaign, MailerLite, HubSpot, Moosend, and Drip.
- In order to build a cryptocurrency enthusiasts subscriber list, you can ask your website users to subscribe, ask your social media users to subscribe, ask other websites’ users to subscribe, find them offline.
- When you’re just starting with crypto email marketing, try to find out how email personalization works for you and what text length is the best for your project and audience.
- There are lots of metrics you can track in email marketing, but at the beginning, you should start with delivery rate, open rate, click rate, and conversions.