After a brief pause, crypto ads return

As it emerged that the government seeks to regulate and not ban the cryptocurrencies, ads have returned to their glory

e4m by exchange4media Staff
Updated: Dec 7, 2021 9:15 AM
crypto

After a brief pause, most of the news websites and social media platforms are again flooded with ads of cryptocurrencies.  

After massive criticism over their misleading ads by many, including the government of India panels, the exchanges had suspended their ads a couple of weeks ago. The upcoming law on crypto also forced them to wait and watch. 

Now, since it has emerged that the upcoming Bill will not prohibit private cryptocurrencies and the government of India only seeks to regulate the entire volatile market, some of the exchanges, including CoinDCX and CoinSwitch Kuber, have re-started advertising and marketing campaigns. 

Some of them have started doing targeted ads to retain their customers, many of which have left the market due to rising uncertaining and fall in crypto prices a week ago. 

This is a well-thought out strategy of crypto exchanges with an aim to retain their customer base and attract potential customers too even though the environment seems to be non-conducive for it due to uncertainty over the upcoming law.  

Crypto exchanges remain tight-lipped on ad issues.

However, ad experts point out that crypto ads continue to attract young Indian customers with the same strategy that they have been using for a long time. 

Rohit Raj, VP Strategy & Consulting, Dentsu Impact, says, “India’s demographic advantage and cryptocurrencies are a match made in heaven. Crypto exchanges have been aggressively driving awareness to grow the base of crypto investors and their approach has been skewed towards growing the pie, rather than establishing clear differentiation.”

He further notes, “The challenge would be to ensure that the consumer stays with the brand. It will become more important for each of the crypto exchanges to build differentiation in the minds of consumers and to ensure that they stand for something unique and provide a clear tangible benefit to their consumers in terms of features/experiences. This ultimately is what will build loyalty with consumers and will help drive retention. As the proverb goes – when you try to stand for everything, you end up standing for nothing.”





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