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Crypto Influencer Marketing: Lessons From a Decade in the Trenches
Crypto Influencer Marketing: Lessons From a Decade in the Trenches
By
Matt C
September 1, 2023
Influencer marketing has become one of the most powerful levers in crypto. Projects live and die on attention, trust, and community, and few tactics deliver those at scale like working with the right KOLs (key opinion leaders). After running influencer campaigns for years across every market cycle, I’ve seen what works, what fails, and what actually drives ROI.
Here’s a breakdown of the strategies, pitfalls, and evolving trends in crypto influencer marketing.
Where the Biggest Crypto Influencers Live
Not all platforms play the same role in crypto marketing. Each has its own audience psychology and campaign strengths:
- X (Twitter): The front line of crypto shilling and attention. External links don’t perform well here, so success comes from building trust, presence, and large followings through threads, memes, and viral commentary.
- YouTube: Ideal for deeper content reviews, walkthroughs, and explainers. A strong YouTube video builds credibility and nurtures investor trust.
- Telegram: Still one of the strongest channels for conversions. It’s where you can guide users into your ecosystem, make announcements, and drive purchases.
- TikTok: A growing force, especially for memecoins and narrative driven plays. Attention spans are short, but when content hits, it spreads fast.
How We Identify High Value Partners
Influencers aren’t equal. The wrong KOL can burn budget with fake followers or mismatched audiences. The right one can move markets.
We combine:
- Industry standard tools for tracking audience authenticity and engagement.
- Internal databases built from 8+ years of campaign results.
- Experience from testing what actually drives conversions across dozens of launches.
This mix lets us cut through noise and find KOLs who align with the specific goals of a project whether that’s brand awareness, token sales, or community growth.
Matching Platforms to Campaign Objectives
Different goals require different influencers:
- Token Launch Hype: X KOLs dominate. Their threads and shoutouts create the viral effect that gets people talking.
- Trust & Education: YouTube creators excel here with reviews and tutorials that show real use cases.
- Conversions: Telegram groups are where the curious become investors. It’s a direct pipeline into the project.
One case: OKX Case where influencer driven traction helped accelerate ecosystem adoption.
Compensation Models That Actually Work
Not all KOLs will accept tokens. In fact, Tier 1 and S tier influencers almost always demand stablecoins or fiat. That said, hybrid deals (part tokens, part stables) can align incentives.
But a key reality: if your token isn’t live yet, top KOLs won’t touch it. That’s one of the first checkpoints for project readiness.
Formats That Drive Engagement
The highest performing formats depend on the project, but in general:
- Threads & memes build viral reach.
- AMAs create interaction and trust.
- YouTube reviews establish credibility.
- Community challenges (meme contests, etc.) spark organic content and word of mouth.
The more an influencer’s audience trusts them, the better the results, regardless of the format.
Measuring True Impact
Vanity metrics (likes, views, retweets) don’t tell the whole story. The real KPIs we track include:
- CTR & conversions: Who actually clicks and buys.
- LTV: How much acquired users spend over time.
- Retention & churn: Do they stick or leave?
- Cohorts: Comparing different influencer acquired users against each other.
- Cost per retained user: Not just CAC, but CAC adjusted for stickiness.
This is where influencer campaigns prove their long term value.
Common Challenges & How We Solved Them
Early on, influencer marketing in crypto was guesswork. Fake followers, bot traffic, and audience mismatch made it expensive and risky.
Today, tools and internal processes make it much easier to vet KOLs. But the reality is still this: KOLs are one of the most expensive channels in crypto marketing. Budgeting properly is crucial.
Building Long Term Advocacy
Paid promotions are easy. Authentic advocacy takes time.
We’ve built long term relationships with many KOLs over years, so they’re invested in creating the best possible stories for our clients. With proper onboarding, research, and fair compensation, it’s possible to foster loyalty that lasts beyond a single paid post.
Why KOL Communities Beat Paid Ads
Standard ads drive clicks. Influencer campaigns build movements.
KOL driven campaigns often go viral because they’re rooted in personalities the community already trusts. The result isn’t just attention, it’s momentum, cult-like followings, and sometimes even market-moving effects.
Emerging Trends
The next frontier of crypto influencer marketing is on chain tracking. Imagine being able to see wallet activity tied directly to influencer campaigns. Add in AI powered influencer vetting, and campaigns will get sharper, more transparent, and more accountable.
As the creator economy grows, expect to see more KOLs operating on chain, bringing new trust layers to the space.
Final Thoughts
Crypto influencer marketing is not cheap, easy, or risk free, but it works. Done right, it delivers explosive reach, deep trust, and lasting user bases. The key is choosing the right partners, structuring fair deals, and tracking impact beyond likes and impressions.
After a decade in this industry, my advice is simple: treat KOLs as partners, not billboards. Build relationships, not just campaigns. That’s where the real ROI lives.
Here’s a breakdown of the strategies, pitfalls, and evolving trends in crypto influencer marketing.
Where the Biggest Crypto Influencers Live
Not all platforms play the same role in crypto marketing. Each has its own audience psychology and campaign strengths:
- X (Twitter): The front line of crypto shilling and attention. External links don’t perform well here, so success comes from building trust, presence, and large followings through threads, memes, and viral commentary.
- YouTube: Ideal for deeper content reviews, walkthroughs, and explainers. A strong YouTube video builds credibility and nurtures investor trust.
- Telegram: Still one of the strongest channels for conversions. It’s where you can guide users into your ecosystem, make announcements, and drive purchases.
- TikTok: A growing force, especially for memecoins and narrative driven plays. Attention spans are short, but when content hits, it spreads fast.
How We Identify High Value Partners
Influencers aren’t equal. The wrong KOL can burn budget with fake followers or mismatched audiences. The right one can move markets.
We combine:
- Industry standard tools for tracking audience authenticity and engagement.
- Internal databases built from 8+ years of campaign results.
- Experience from testing what actually drives conversions across dozens of launches.
This mix lets us cut through noise and find KOLs who align with the specific goals of a project whether that’s brand awareness, token sales, or community growth.
Matching Platforms to Campaign Objectives
Different goals require different influencers:
- Token Launch Hype: X KOLs dominate. Their threads and shoutouts create the viral effect that gets people talking.
- Trust & Education: YouTube creators excel here with reviews and tutorials that show real use cases.
- Conversions: Telegram groups are where the curious become investors. It’s a direct pipeline into the project.
One case: OKX Case where influencer driven traction helped accelerate ecosystem adoption.
Compensation Models That Actually Work
Not all KOLs will accept tokens. In fact, Tier 1 and S tier influencers almost always demand stablecoins or fiat. That said, hybrid deals (part tokens, part stables) can align incentives.
But a key reality: if your token isn’t live yet, top KOLs won’t touch it. That’s one of the first checkpoints for project readiness.
Formats That Drive Engagement
The highest performing formats depend on the project, but in general:
- Threads & memes build viral reach.
- AMAs create interaction and trust.
- YouTube reviews establish credibility.
- Community challenges (meme contests, etc.) spark organic content and word of mouth.
The more an influencer’s audience trusts them, the better the results, regardless of the format.
Measuring True Impact
Vanity metrics (likes, views, retweets) don’t tell the whole story. The real KPIs we track include:
- CTR & conversions: Who actually clicks and buys.
- LTV: How much acquired users spend over time.
- Retention & churn: Do they stick or leave?
- Cohorts: Comparing different influencer acquired users against each other.
- Cost per retained user: Not just CAC, but CAC adjusted for stickiness.
This is where influencer campaigns prove their long term value.
Common Challenges & How We Solved Them
Early on, influencer marketing in crypto was guesswork. Fake followers, bot traffic, and audience mismatch made it expensive and risky.
Today, tools and internal processes make it much easier to vet KOLs. But the reality is still this: KOLs are one of the most expensive channels in crypto marketing. Budgeting properly is crucial.
Building Long Term Advocacy
Paid promotions are easy. Authentic advocacy takes time.
We’ve built long term relationships with many KOLs over years, so they’re invested in creating the best possible stories for our clients. With proper onboarding, research, and fair compensation, it’s possible to foster loyalty that lasts beyond a single paid post.
Why KOL Communities Beat Paid Ads
Standard ads drive clicks. Influencer campaigns build movements.
KOL driven campaigns often go viral because they’re rooted in personalities the community already trusts. The result isn’t just attention, it’s momentum, cult-like followings, and sometimes even market-moving effects.
Emerging Trends
The next frontier of crypto influencer marketing is on chain tracking. Imagine being able to see wallet activity tied directly to influencer campaigns. Add in AI powered influencer vetting, and campaigns will get sharper, more transparent, and more accountable.
As the creator economy grows, expect to see more KOLs operating on chain, bringing new trust layers to the space.
Final Thoughts
Crypto influencer marketing is not cheap, easy, or risk free, but it works. Done right, it delivers explosive reach, deep trust, and lasting user bases. The key is choosing the right partners, structuring fair deals, and tracking impact beyond likes and impressions.
After a decade in this industry, my advice is simple: treat KOLs as partners, not billboards. Build relationships, not just campaigns. That’s where the real ROI lives.
