In India, cryptocurrency businesses are focusing on impact attributes for TV and digital advertising. Even if the gala cricket season is gone, crypto players have a fresh media-buying plan in place, and the government’s new rules on crypto marketing aren’t preventing them from advertising.
“Now that big-ticket events like the Indian Premier League and the ICC World Cup are over, firms may focus on supplementary advertising possibilities in cricket or opportunities outside of cricket, notably in the television and digital areas,” says the report.
According to Balyan, notable impact properties on television, such as Hindi general entertainment channels (GEC), are a great platform for advertisers aiming for a bigger reach.
However, he advised that businesses wishing to spend their advertising dollars on a more performance-based medium can expect a shift in strategy from the top of the funnel to the bottom of the conversion funnel, skewing expenditures in favor of digital media.
Bigg Boss and Kaun Banega Crorepati, according to Jai Lala, CEO of Publicis Group’s Zenith, are ideal for crypto gamers.
“Advertisers in this sector use their campaigns to generate leads and raise awareness, and they’re searching for high-impact assets to maximize their reach.” While GEC and news, both on TV and online, are appealing to them, players are also considering gaming platforms since their user profiles are comparable,” Lala noted.
Increasing Investor Understanding
“Cryptocurrency asset investing is rising as a popular investment choice among digital natives, and expanding investor knowledge is a commercial requirement,” Ashish Singhal, founder, and CEO of CoinSwitch said of the audience profile and advertising strategies.
Taking Advantage Of Media
WazirX, a cryptocurrency trading platform, for example, has stated that it is exploiting relationships with media outlets to educate investors.
“Our objective with our marketing campaigns has always been to focus on responsible marketing and disseminating crypto information to the mainstream.” In an emailed answer to Storyboard18’s questions, a WazirX official said, “We aim to bring knowledge and comprehension of crypto mainstream in India.”
The cryptocurrency platforms’ ad blitz comes as the government has lately expressed worry about the content of crypto advertising in the nation.
What’s Next With Regulations In India?
Prime Minister Narendra Modi met with senior officials last week to discuss cryptocurrencies. Despite the fact that the government has yet to release clear rules or laws on the regulation of crypto platforms or their advertising, there has been a strong drive to make crypto-related communication more transparent.
Despite the large magnitude of media spending in the sector, the ad industry watchdog Advertising Standards Council of India (ASCI) has not developed any crypto advertising-related standards.