In recent years the crypto industry has grown leaps and bounds, and with it has gone up are the number of projects and the competition that comes with them. This has made marketing highly critical to the projects so that they can attract new users and expand their community. To make lives easier for core project teams who may or may not excel in the art of marketing, Crypto Marketing Agencies have started blooming up.
While it is exciting to have a whole group of marketing experts taking care of the branding and marketing for a project, this comes at a price as they bring in their own set of disadvantages with them. The article below will try to capture the positives and negatives of hiring a crypto marketing agency.
The Positives
The Creativity:
Most crypto marketing agencies employ top talent and creative directors who bring a lot of experience in campaigns and managing brands. They also employ a whole team of designers, content creators, and animators, adding to the creativity and improving the chances of the marketing campaign’s success. And it’s not just marketing campaigns; these agencies also help in standardizing brand reach across social media platforms and also in putting forward a story that connects with the audience
Bringing in Newer ideas:
Being involved in the project’s core development, the development team’s views may start revolving around the same set of ideas. This would make the campaigns bear the same look repeatedly, reducing their return on investment in attracting or engaging the community. This is where the NFT collections and the marketing agency can add value as they may bring fresh ideas and styles and help bring a new perspective to the marketing outreaches and campaigns, thus attracting newer users and members to the project community
More time for Core BUIDL:
Having a crypto marketing agency on board gives the core team more time to focus on building the project than marketing. Rather than planning, creating, and then analyzing the outcome, the core team can focus on building the product that would enhance the user experience. This critical aspect would add to the growth of the business. Also, this frees the founders from the idea that they are involved in everything and micro-managing every task. Hence having a crypto marketing agency helps the core team focus on the larger picture and overall growth of the project.
The Negatives
All comes at a price:
A marketing agency works for a fee and based on the experience of the brand and the services they provide, the price tags keep on moving. While there would be reasonable alternatives, they also come at a fee. Hence it becomes critical for the core team to continuously analyze the cost-benefit analysis of whether it makes sense to hire a crypto marketing agency or build or hire a team in-house.
Lack of Crypto or Blockchain experience:
Some agencies may come at a lower price tag but have limited to no knowledge of the crypto or blockchain industry. If they happen to come from a non-crypto sector, there are chances that they may have to walk a step learning curve which may keep the return on investment for the campaigns lower to mid-range. This again may be a decision of the core team whether they would bend towards price or are ready to forgo till the agency becomes utterly aware of the industry or the project
Priority and clientele:
It may be well noted that each agency has multiple clients. While no client may be less critical, there would be bias towards some clients, and priorities may differ. Although they may provide some dedicated resources at lower levels, the top teams have limited bandwidth to look at a project. Hence the teams may prioritize their clientele which could be in direct relation to the business and revenue that the project offers or the relationship they may have with the client. Either way, there could be lapses in meeting deadlines, especially if the association with the agency is new.
While the crypto web stories lay down the pros and cons of having a crypto marketing agency on board, the decision is well in the hands of a core team regarding what is best for their projects