Last week Facebook announced they would ban all Cryptocurrency related advertising on their network due to the amount of scams that have piggy-backed on the popularity of Bitcoin and other emerging Cryptocurrencies:
“We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception,” wrote Rob Leathern, product management director for Facebook Business.
“That said, there are many companies who are advertising binary options, ICOs and crypto-currencies that are not currently operating in good faith.”
Facebook also added that it would more tightly define its ban over time as the market becomes more understood…
“Ads must not promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, or crypto-currency.”
Under the new policy, advertising using phrases such as “New ICO! Buy tokens at a 15% discount NOW!” or “Use your retirement funds to buy Bitcoin!” would not be permitted, Facebook said.
Facebook must protect the integrity of its ad platform as this directly affects their shareholder base. There are tons of Crypto scams floating around with many people already being hurt as these schemes get shut down or simply close.
So What is The Alternative to Promote a Legitimate Cryptocurrency?
As my long-time readers already know, advertising straight to an offer (even if legit…which it should be) is not only short-sighted, but rarely profitable.
What you should do is put a sales funnel in place where you can not only collect the lead but nurture a relationship with them.
Here’s a basic outline for a Cryptocurrency (example):
Create an opt-in page (from your ad) and offer a small freebie (ie. a free report) with value on Crypto basics
After the opt in, instruct your lead to check your email to collect their freebie (do not redirect them straight to your offer to make sure they use a real email address)
Send them a series of emails teaching them some more basics on the industry (this builds trust with your lead)
Offer them your product after you’ve built some goodwill
I cannot tell you how effective this is when done correctly. In addition, you now have a lead that you can market to in the future.
So in this example above you’re running an ad for generic investing without directly mentioning Crypto.
This really is sales funnel 101 but so many do not even think to do this. It’s almost impossible to make money (let alone break even) without a sales funnel in place, especially in an industry like Cryptocurrency where skepticism is high.
In you have any questions on how to get started with this comment below.
(This is a reprint from MY blog: http://kennethholland.com/facebook-bans-cryptocurrency-ads/)
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