Influencers: The value of cooperation between businesses and influencers can not be overlooked when growing your business, says Viktor Kochetov, the CEO of crypto exchange platform Kyrrex.
Using an influencer exposes the company’s brand, products, and services to the influencer’s audience. For a successful cooperation, you should pick the people who are relevant to your business and share the same beliefs. The influencer should also remain completely transparent about the nature of mutual work.
Kyrrex followed these principles when working with MotoGP influencers and ambassadors. I’ll share the most important aspects of our experience.
Influencers: Selection criteria
Currently, Kyrrex is actively promoting its platform and signing various agreements with athletes. For example, we’ve expanded our partnership with the Pramac motorcycle racing team competing in the MotoGP World Championships.
A lot of aspects matter for when our team is building an influencer marketing strategy: the popularity of an athlete in their country, professional results, etc. However, we don’t focus on the performance alone.Personality and character can make a big difference.
This is why Jack Doohan from Formula 2 is on the list of our ambassadors. We see great potential in Jack and believe that he can move to Formula 1 in several seasons. Building lasting relationships and believing in our partners is what matters for us.
The structure of cooperation
We usually create annual content plans and stick to them. Such a plan lasts for a single sports season and contains all types of cooperation determined by our market department. These vary based on the Kyrrex events, announcements of the new platform features, and other milestones. When we have a certain idea, our PR team discusses it with the influencer’s agents or representatives.
After agreeing on the details of the cooperation, we proceed to a stage of creating visual aids and texts. We have a team of three designers and a copywriter doing this. In case we need to agree on the changes to the budget (to include a raffle, for example) the finance department also joins the process. It can be a detail-oriented exercise but at the same time, it’s a lot of fun. The more effort everyone invests during these planning stages, the better the results.
Influencers: Communication as a key to success
Our projects with ambassadors and influencers involve a consistent back-and-forth. Athletes have managers or social media marketing teams responsible for this aspect. With each ambassador, we develop an individual approach. The only common element is mutual respect. It means that not a single participant should carry reputational risks or losses. We also avoid any forms of manipulation, even unintentional ones. It’s always very clear when our ambassador is promoting our brand.
The discussion with an athlete’s manager is a critical step. In case the cooperation is about a raffle or a new feature on the Kyrrex platform, the social media marketing agency is the first point of contact. When our team communicates the details of the deal, honesty and straightforwardness are our top principles.
It is through effectively managed and open communication that we ensure the success of our influence marketing and maximize the benefits for every party involved.
About the Author
Viktor Kochetov is the CEO and founder at the global financial ecosystem and crypto exchange Kyrrex. Kyrrex is a crypto-fiat ecosystem that offers secure instruments for users who work with digital assets daily. Today, its main product is Kyrrex Crypto Exchange, where various cryptocurrency transactions are performed. The Kyrrex-fiat ecosystem is now based in Malta, and operates worldwide.
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