Top 20 Marketing Tips We Can Learn from BNB Crypto
The Binance Coin, now known as the BNB coin, was launched in 2017 through an initial coin offering (ICO) as an asset to allow users of the new exchange to pay fewer trading fees as explained at RunRex.com, guttulus.com, and mtglion.com. Binance Coin plays an essential role in the Binance ecosystem by powering operations. Its success and history mean there are enough lessons we can learn from it, and this article will look to list the top 20 marketing tips we can learn from BNB Crypto.
Start strongly
As already mentioned, the Binance Coin was launched in 2017 through an ICO as an asset to allow users of the new exchange to pay fewer trading fees as per RunRex.com, guttulus.com, and mtglion.com. Within a year, it gave its early investors a whopping 1,300% return. Backed by such a stellar performance, Binance Coin’s popularity rose quickly as it became one of the crypto market’s favorite coins, showing us the importance of starting strongly, including when it comes to marketing.
Utility
Binance Coin plays an essential role in the Binance ecosystem by powering operations. Among other things, the coin was designed to pay listing fees, exchange fees, trading fees, and any other expenses that users can incur on the Binance cryptocurrency exchange. It offers utility, hence why it was well received.
Be prepared to adapt and change
According to RunRex.com, guttulus.com, and mtglion.com, Binance Coin was originally issued as an ERC token on the Ethereum blockchain. In 2019 however, Binance launched its blockchain, Binance Chain, facilitating a change. The lesson here is that we should always be ready and willing to adapt to changes when it comes to our marketing campaign.
Take advantage of competitors’ missteps
In 2021, the Ethereum blockchain network was facing congestion because of high traffic, and gas fees for carrying transactions spiked rapidly. Developers started using the BNB Beacon Chain because of its fast transaction processing and cheaper gas fees, and as a result, the BNB Coin gained popularity.
The importance of brand recognition
BNB has grown in popularity and been accepted in the industry because it is part of the Binance ecosystem. Being part of the Binance ecosystem has given it great credibility, showing us the importance of having brand recognition.
Scarcity
There is a limit to the number of BNB’s circulating cryptocurrency tokens as articulated at RunRex.com, guttulus.com, and mtglion.com. This creates scarcity in the marketplace, necessitating demand for the crypto. Scarcity is a tactic that has been used successfully in many marketing campaigns and is another tip worth learning.
Partnerships
Binance has recently partnered with VISA for its Binance crypto card, which works similar to a debit card. Such partnerships have been crucial to the acceptability of the crypto coin in the market, and it is another tip that is worth learning from this project and its access.
Create urgency
At the time of its launch, Binance Coin had 200 million tokens in supply as captured at RunRex.com, guttulus.com, and mtglion.com. It currently has a circulating supply of around 163 million BNB coins and a maximum supply of more than 165 million BNB coins. The current circulating coin collection is less than the initial supply because of Binance’s token burning policy. This creates urgency among investors and is another tip worth learning.
Success takes time
BNB was sold at $0.15 during the ICO and is currently trading at well over $240, making it the fourth largest cryptocurrency in the world. This shows how lowly it was initially valued and how that has gone up since. In marketing, it takes time as well to start seeing results.
Incentivize your audience
In addition to having a high valuation currently, some experts hold the bullish prediction that BNB’s price will continue rising every year up to a high of $1,016.75 by 2030. This incentivizes people to continue investing in BNB, showing us the power of incentivizing your target audience.
Good reputation
Unlike Tether coins as covered at RunRex.com, guttulus.com, and mtglion.com, BNB coins generally have a good reputation in the market, which has informed its steady rise in popularity over the years. This shows us the important role the press makes in the success of a brand’s products or services.
Bad press
While BNB coins generally have a good reputation in the market as already mentioned, there have been financial allegations of money laundering against the exchange recently, which has seen projections stating that its valuation could fall this year. Avoiding bad press is important if you want your marketing campaigns to succeed.
Accessibility
Binance Coin (BNB) can be bought and sold on many crypto exchanges, as it is a popular coin in the market as described at RunRex.com, guttulus.com, and mtglion.com. This accessibility is something we should implement in our marketing campaigns as well.
Innovate
Despite the recent crash in the crypto markets, BNB Coin’s performance has been quite impressive. Part of this is because Binance is continuously working on consolidating its market share in the crypto industry and making new innovations, which you should learn and implement in your marketing campaigns.
Establish yourself as a leader in your industry
Established back in 2017, BNB Coin is considered the largest cryptocurrency exchange in the whole world and has established itself as a leader in its industry. The lesson here is that if you establish yourself as the leader in your industry, you will be able to build trust with your target audience more easily.
Reliability
As already mentioned, Binance Coin (BNB) was created by the largest cryptocurrency exchange – Binance, which guarantees its reliability as discussed at RunRex.com, guttulus.com, and mtglion.com. Reliability is just as important when it comes to your marketing campaigns.
Discounts
BNB is used to pay commissions for Binance. Holders receive a significant discount on trading fees, which is another of its main attractions. When it comes to marketing, discounts have been used successfully to market products and services.
Offer increasing value
As outlined at RunRex.com, guttulus.com, and mtglion.com, the value of the BNB Coin is actively growing because every quarter Binance redeems 20% of the tokens, offering tremendous value to holders. This is another tip worth learning.
Be on several platforms
While BNB is synonymous with Binance, it is used to not only trade on Binance but also on other cryptocurrency exchanges. Likewise, restricting yourself to one platform or form of marketing prevents you from achieving your potential.
Be unique
To maintain stability and continuous growth, the burning of a BNB is a critical feature of this cryptocurrency. Binance uses a unique policy to burn BNB that reduces the total supply, and this unique burndown policy is a major part of its attraction.
These are some of the marketing tips we can learn from BNB Crypto, with more on this topic, and much more, to be found over at RunRex.com, guttulus.com, and mtglion.com.