Capitalising on Cryptocurrency Market Opportunities: TechTalks Recap
Did you know that 92% of the world’s currency is digital?
With such a high statistic, it makes sense why cryptocurrency is becoming a hot topic in today’s society.
That is why Kathryn Strachan, Copy House Owner and Managing Director, joined Sam Shrager the Head of Marketing for BCB Group and Mia Mohamed the Head of Product Marketing at Trustology, to discuss all things crypto. This episode of TechTalks brought great insights into the crypto space and answered the audience’s thought-provoking questions. Here is a recap of what you missed.
Cryptocurrency is similar to regular currencies such as the US Dollar or British Pound but lacks all physical elements. Instead, it is an entirely digital currency that is secured by cryptography. There are thousands of cryptocurrencies around the world, the most familiar being Bitcoin, Litecoin, Ethereum and Z-Cash.
A specific feature of cryptocurrency is that it is generally not issued by any central authority, which means it’s decentralised and immune to government interference. This means businesses can make global transactions in a matter of seconds and without paying a sum to a middleman.
These middlemen can include banks or brokers who would often take a cut for processing the transaction. Therefore, cryptocurrency encourages peer to peer transactions, which is more straightforward and saves both time and money.
Also, because cryptocurrencies are secured by cryptography, it’s nearly impossible to counterfeit or overspend. The information recorded by blockchain keeps people’s records secure and makes transactions simpler.
The First Stop for Emerging Businesses in the Crypto Space
Sam Shrager explains that it can be difficult for a business to go to their ordinary accountants or banks to explore their options within the crypto space.
This is because they usually lack the necessary knowledge surrounding it. Hence, a good alternative is reaching out to companies such as the BCB Group.
The BCB Group is Europe’s leading provider of business accounts and trading services for the digital asset economy, regulated in the UK and Switzerland.
“We provide accounts and payments processing for the pillars of the industry including Bitstamp, Coinbase, Kraken, Gemini, Galaxy, BitPay, Circle in dozens of fiat and cryptocurrencies. Our clients can trade FX and cryptocurrencies quickly and at scale, with market-leading value.”
Sam explains how BCB Group does not work alone, as they use the help of Trustology. This is because they require custody and wallets as an institution, and that’s where Trustology comes in.
Trustology provides an array of services to aid those who want to enter the crypto space. They make it safer, faster and easier for companies as well as individuals to administer crypto assets safely.
As Sam explained, relying on an ordinary bank to help with crypto is a bad call in judgment as many of them lack the necessary knowledge of it.
Mia also agrees and states that although banks are catching up slowly, they still lack a lot of knowledge surrounding crypto and are far behind in comparison to companies such as the BCB Group.
Crypto’s Biggest Challenge and Solutions
A big issue surrounding cryptocurrency is the negative name it carries due to a few ‘bad actors’. In the past, people have fallen victim to scams and hacks. With this gaining a lot of negative press, Mia explains that it becomes challenging to give digital assets a good name when the reputation has already been tarnished.
However, this image can be changed moving forward through building trust with consumers. An excellent way to do that is through educating people and providing sound advice regarding cryptocurrency. This can be done through events, whether they are virtual or in person. By communicating with your audience and building that trust, you can change the space and consumers’ minds.
“As a marketer in this space, face-to-face communication is key because they want to know that they can trust you and your advice. So although no one predicted COVID-19, virtual interactions were just as effective.
For me, I used a mix of finding the right events we could speak in and seeing who we can partner with to communicate and market our services. We’ve held numerous events that did exceptionally well and were followed up with Q&A sessions where we’ve seen tremendous engagement. So the trick is to constantly inform and educate your audience because there’s still a lot to learn, and this sector changes in a heartbeat.”
Another great way to combat it is through providing thought leadership content, blogs and newsletters. Sam explains that content marketing is a huge advantage when it comes to getting a positive name out there, informing people and keeping them up-to-date on all the latest news within the crypto space.
How Brands Can Gain Trust Launching into Overseas Markets
When launching internationally, the first thing to do is look at your customer avatar. Who are they? How are they different from your current audience? What are their habits?
Different countries have different approaches to things. For example, some countries may have a great knowledge of crypto, whereas others may not know anything about it.
Therefore, it’s crucial to research your overseas audience’s culture, lifestyle, and level of knowledge and information. It’s also essential to build their customer avatar based on that, so you know how to market to them effectively.
“To successfully understand your overseas audience, you need to research any stigmas they may have about the crypto space and overcome them. You’ll also need to identify their pain points, challenges and what’s keeping them up at night. Once these have been identified, you need to develop a strategy that will help them overcome these challenges and solve any problems they might have.”
Don’t Miss Our Next Episode of TechTalks
Cryptocurrency can be a complicated topic to understand. For in-depth answers and further knowledge, check out the full TechTalks episode here.
If you’re looking for an agency that specialises in content marketing within the technology sector, then look no further! Contact our Copy House experts for a 30-minute FREE consultation by completing the form below.
You can also sign up to our next episode of Copy House TechTalks on Capturing B2B Leads at Every Stage of the Sales Funnel.
Register now to see Copy House’s Managing Director, Kathryn Strachan, joined by panellists Stephen Harlow from Sopro, Katie Street from Street Agency and Ben Potter, a business development adviser. They’ll discuss everything you need to know about B2B lead generation and answer all your questions.