TV Commercials & How they attracting more clients in crypto industry.

[so98nn]

We live in the era where digital platform plays amazing role in attracting your clients.
Well, things are changing at alarming rate in the country like India. Recently we had biggest game of T20 World Cup 2021, Ind vs Pak, considering their cricket battle is most popular it had enormous amount of viewers that day.

In this match the most interesting fact was the commercial advertisement that was getting flashed in between every over was about the Crypto Wallets and exchangers.

One of such companies which hosted the ads was CoinSwitch Kuber.  Reference

I am wondering how this helping the crypto space since, with millions of peeps watching this ad some of them must have searched for it, started using after it and what not.
Even in the Indian New Channels crypto market is discussed many times, they do show the ads too.

Since there is no ban on such ads yet, I believe Indian Government is not on the strict side yet.
Does your country has such commercials, what do you think how it is helping us?

Guess how many users watched this match (thus the crypto coin advertisement)

As per one article, online streaming partner HotStar alone recorded 13 millions viewers.  Reference
One of the former cricketer Shane Warne projected that, there will be at least 1 billion viewers for this match. Reference

How do you see they impact the viewer?

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[franky1]

its not going to make every viewer suddenly want bitcoin.

many businesses of many industries find that their average customer acquisition costs can be $40 whilst spending $40 to reach 15,000 viewers

basically for every 15,000 viewers they may acquire 1 customer.
so on that bases. rounding the 13mill to 15mill for easy viewer maths. equals only 1000 customers deciding to use the wallet app advertised

so with bitcoin having now millions of people.. thats not even a 0.1% uptick in new bitcoin users.

[so98nn]

its not going to make every viewer suddenly want bitcoin.

many businesses of many industries find that their average customer acquisition costs can be $40 whilst spending $40 to reach 15,000 viewers

basically for every 15,000 viewers they may acquire 1 customer.
so on that bases. rounding the 13mill to 15mill for easy viewer maths. equals only 1000 customers deciding to use the wallet app advertised

so with bitcoin having now millions of people.. thats not even a 0.1% uptick in new bitcoin users.

Oops.

Then it means its just way to introduce them to the term bitcoin. They may or may not even get involved with the crypto directly. I am not sure how they take the statistics from the TV industry on how many users viewed but soon will be looking into how much growth that particular ad gave to coin switch. If they somehow publish this data then we can know for sure how much impact TV commercials has on the bitcoin or crypto as whole.

But I think there is no solid study on the math that you did right? Like its too less ratio of 0.1% getting turned into crypto users from that ad views. Hell low! 

[Bttzed03]

I am wondering how this helping the crypto space since, with millions of peeps watching this ad some of them must have searched for it, started using after it and what not.
~
How do you see they impact the viewer?

Those who saw it for the first time during the match probably would have forgotten it by now.

Those who were already knowledgeable (or heard/seen it) before the event would have searched it later on or at least remember the ad.

Personally, it would take many repetitions (as in days, weeks, or months) to see an ad before I get hook to whatever they are trying to sell. I would assume that is also the case for most people watching the match.

[noorman0]

Then it means its just way to introduce them to the term bitcoin.

Those advertisements have their own commercial purpose, they will not invite you towards change and freedom by introducing certain cryptocurrencies (say bitcoin) voluntarily, they just focus on their services/platforms such as casinos, games, exchanges. So, it will come back to the viewer's interest in those services.

They may or may not even get involved with the crypto directly. I am not sure how they take the statistics from the TV industry on how many users viewed but soon will be looking into how much growth that particular ad gave to coin switch. If they somehow publish this data then we can know for sure how much impact TV commercials has on the bitcoin or crypto as whole.

But I think there is no solid study on the math that you did right? Like its too less ratio of 0.1% getting turned into crypto users from that ad views. Hell low! 

Don't know how it is in your country, but you won't find crypto based ads in my country showing on TV. And I can say that nowadays advertisers prefer internet platforms (like blogs, youtube, even in apps) over TV shows because they have a wider, unlimited audience reach, and can customize targeted impressions based on audience interests (cookies).

[Vaskiy]

Not only coinswitch kuber, more other promotions like coindcx got broadcasted. It isn't happening with sports, during the sporting events this can be seen much than other commercial programs. Already India is recorded with the increase in the cryptocurrency userbase and has taken the second position in the world. This has taken place during the pandemic, and people are much aware of the cryptocurrency market. Maybe 1 out of 100 preferred to make a research on what for is the advertisement.

Another important thing Indians have a common practice of changing the channels when advertisement gets broadcasted. This looks funny, but it is true.

[kryptqnick]

If lots of people watch the ads, it's influential, of course. It's not helpful for Bitcoin adoption, though, as often it's some intermediaries who are having their ads (nobody is going to advertise Bitcoin as such without any profit for it). I don't mind it if the ad is honest, but I remember there was a thread discussing one ad that was like 'use Bitcoin, it's great', but was actually encouraging people to buy and store Bitcoin via a particular service. Finally, it's particularly important to ensure that there are no scam advertisements because they can be deeply harmful to cryptos' reputation. I don't watch TV at all and use ad-blocking services, so I don't know the market of ads, but I've seen some scandals about scams.

[Lucius]

I am wondering how this helping the crypto space since, with millions of peeps watching this ad some of them must have searched for it, started using after it and what not.

There is no need to doubt the power of the media when it comes to anything, whether it is good or bad. Television is still the main way to transmit information, although the Internet and smartphones completely occupy the younger population. I am of the opinion that it is not just a matter of advertising something, but also the way it is done - because as good as it is for people to become aware that Bitcoin exists, the question is how many of them will really understand what it is about and whether some become victims of a scam or otherwise lose their investment.

Does your country has such commercials, what do you think how it is helping us?

I personally have never seen an advertisement for anything related to cryptocurrencies on any television in my country, which surprises me a bit considering that state-owned post offices offer a cryptocurrency exchange service, and that we have a lot of business that are in some way involved in cryptocurrencies. For some reason, none of them decide to advertise on television, and maybe that's even better since most people either have a bad opinion of it all, or can't imagine in their heads that there is an alternative to government money.

[SFR10]

In this match the most interesting fact was the commercial advertisement that was getting flashed in between every over was about the Crypto Wallets and exchangers.

Based on what you've described, it seems that there were no repetitive commercials on each of the breaks and that significantly reduces its impact!

I am wondering how this helping the crypto space since, with millions of peeps watching this ad some of them must have searched for it, started using after it and what not.

It depends on how they'd use those apps/services!

- If most of the converted users, use those wallets and exchanges to create accounts or wallets for little activities and insignificant amounts, then it'd have little to no impact!

Does your country has such commercials,

It doesn't but from time to time, they mention BTCitcoin on Movies/TV shows!

[Vatimins]

     Well, it is truly evident that T.V. commercials can do lots of wonders in attracting people in many ways regardless of subject. This is one of the reasons why it will also be able to trigger the curious bones in other people who has never heard of bitcoin before or has heard only a bit about it along with some biased thoughts. And if you think about it, the way the world is right now, people are bound to get easily attracted where the money is at. So in my opinion, there will even be more people attracted just by the thought of this industry specially when heard from televisions which most of the people trust.

[Rishabh riyz]

its not going to make every viewer suddenly want bitcoin.

many businesses of many industries find that their average customer acquisition costs can be $40 whilst spending $40 to reach 15,000 viewers

basically for every 15,000 viewers they may acquire 1 customer.
so on that bases. rounding the 13mill to 15mill for easy viewer maths. equals only 1000 customers deciding to use the wallet app advertised

so with bitcoin having now millions of people.. thats not even a 0.1% uptick in new bitcoin users.

Then it means its just way to introduce them to the term bitcoin.

Those advertisements have their own commercial purpose, they will not invite you towards change and freedom by introducing certain cryptocurrencies (say bitcoin) voluntarily, they just focus on their services/platforms such as casinos, games, exchanges. So, it will come back to the viewer's interest in those services.

They may or may not even get involved with the crypto directly. I am not sure how they take the statistics from the TV industry on how many users viewed but soon will be looking into how much growth that particular ad gave to coin switch. If they somehow publish this data then we can know for sure how much impact TV commercials has on the bitcoin or crypto as whole.

But I think there is no solid study on the math that you did right? Like its too less ratio of 0.1% getting turned into crypto users from that ad views. Hell low! 

Don't know how it is in your country, but you won't find crypto based ads in my country showing on TV. And I can say that nowadays advertisers prefer internet platforms (like blogs, youtube, even in apps) over TV shows because they have a wider, unlimited audience reach, and can customize targeted impressions based on audience interests (cookies).

well obviously ads have their own commercial purpose of course but  in India, their government already have been promoting online payments and online money transfers using UPI with apps like paytm , PayPal and other wallets from start of 2019, they promoted online banking to such an instant where people are no more in queues for transferring money in banks

with the campaign for promoting online payments it slowly shifted to make more people into stocks , and the results were very surprising , although it wasn't governments efforts but the advertisements helped average  people notice the importance of investments who weren't aware at the moment and with this step taken now the companies are popping with ads to invest in crypto and its not just about ads in sports  almost every channels are getting these ads, this may have positive effect on the crypto as more and more people will join so in my opinion it is not wise to say that cryptos wont be affected .

[avikz]

Yes, I have watched the India vs Pakistan match in Hotstar and noticed the same thing. We have seen advertising from 3 main players of Indian crypto market - Coinswitch, Coin CDX and Bitbns. It happened in almost every interval.

I am sure that increases the visibility of crypto industry among the Indian crowd. Also it will surely make a good amount of people intrigued about what bitcoin is. Even though Indian government is still not sure what they will do but I am sure crypto community of India would not give up without a fight!

[DdmrDdmr]

<…> Does your country has such commercials, what do you think how it is helping us?

Typically, recurring ad campaigns will appeal to either a call to action, or being top of mind, with a multichannel approach. Internet based adds though, have eaten a large share of the pie over tv, both due to the reduction in viewers share, and to the shift in media viewing preferences (plus the possibility of a more targeted audience on the internet).

I don’t recall seeing any crypto related TC commercials in Spain, although Bit2Me has been pretty busy creating notorious billboard campaigns, without making it to producing tv commercials yet.

One thing to ponder is that legislation here is quickly stepping-in, and come early 2022, there should be a regulatory framework in place that will supervise certain aspects of crypto-related publicity. As such, campaigns run on tv, radio, social networks or billboards, with over 100K potential viewers, will be required to forward the campaign to the CNMV (National Securities Market Commission) before it is launched, and they may require changes to be applied. They are specifically going to supervise that potential viewers are made aware of the risks in investing in crypto-related products. Smaller campaigns that target less public may also be subject to some sort of control. We’ll have to wait to see the final wording a few month down the road.

[fiulpro]

Commercial space is for sure a safe area for India. But at the same time I would not say the same for their policies right now. We all know that even though there is no ban right now but the Indian government is not really happy about cryptocurrencies.

There are no laws that prohibit (or allow) trading in crypto. In that sense, cryptocurrency is like any other asset class such as gold, commodities or real estate. People trade in gold without the government creating a law for it.

( from google )
Therefore these laws might turn against the cryptos like bitcoins any moment, at the same time I do think for the time being it's definitely helpful, like Pepsi and cola who usually advertise using the cricket companies might as well do well in this area especially the crypto ones.
- cricket is immensely popular in India.
- bitcoins just became 8th most valuable asset
I think this is perfect for the time being, they can get a lot of crowd from this definately.
( There is always a big demand from companies and the inventories gets sold within days and therefore it's not only a good we'll established platform but it's also very expensive as well )

[mk4]

Ain't going to lie, when I saw the title, I automatically thought this was once again about FTX lol. They've just been so hyperactive with promoting crypto(and their exchange ofc).

As for how this impacts the viewers, ehh, TV commercials are pretty much a 'shotgun effect' where you can't really narrow down your target audience that much. I guess this just helps by getting people interested? Or maybe with the hopes of when some people remember bitcoin/crypto someday, they'd remember this ad, hence causing them to go to their platform or something.

[adzino]

Most of the people don't actually pay attention to what is being advertised around. If we see some sort of advertisement around we ignore it out of instinct. Tell me how many new billboard signs/advertisements do you remember today that you saw? I am sure none (expect those that you have been seeing everyday). 1 billion users might watch the game you are talking about, but only few will notice those advertisement and most of them will be those people who already know what bitcoin is (like you). Others won't care.

[sgenuine]

Actually, crypto is now very popular in my country, so I haven't met commercial connected to crypto on TV yet. But I have seen a lot of cases how celebrities influence the awareness of crypto. There are more and more famous people and brands who invest in crypto and make their own NFTs, so there are more and more people who get to know about this market due to advertisement of them.

[Fundamentals Of]

These companies are just using the platforms that give them the most exposure. Popular sporting events and TV shows that are usually shown live in the whole country or internationally, and will even be repeatedly replayed on national and international channels as well as online sites, are mostly the some of the best ones. But these kinds of promotions and marketing strategies probably come with an expensive price tag.

I think the regulators are not that strict on this one because these contracts involve high revenue. Also, there might be influential companies and persons involved.

[mamesso]

The most excited commercial ad this year was lazio making an official announcement after collaborating with one of the Crypto companies (Binance).
Binance move with lazio is a true cryptocurrency advancement. Binance is the main sponsor of the Lazio jersey, this is very helpful for crypto space, because millions of people will watch this ad, especially Lazio supporter.

The crypto space needs time to continue to grow, the technology is still very young and it's never too late because it's just getting started.
For an example, as happened with the internet network. Internet network takes 30 years to function optimally. The same scenario will also occur in crypto assets and blockchain.

In the future there will still be innovations that continue to emerge. On the other hand, there will be crypto asset shrinking or disappearing from the market and only a handful with strong fundamental that will survive.

[Ucy]

Well, as long as the viewers are attracted to the right platforms so they don't have much issues in the future. I actually prefer to see ads run by crypto companies that encourage things like self-custody, privacy, transparency, censorship resistant, decentralization, immutablity, trustlessness etc.
We need more people using crypto the right way. They should be the majority in Crypto space