The
highly
lucrative
crypto
sector
has
a
global
market
capitalisation
of
$2.32
trillion
(roughly
Rs.
1,95,03,927
crore),
but
it
does
come
with
concerns,
especially
because
of
its
volatile
and
largely
unregulated
nature.
Given
the
situation,
Web3
firms
trying
to
establish
their
brands
are
often
facing
a
challenging
roadmap
to
market
and
bring
their
services
to
potential
customers.
Ahead
of
the
Binance
Blockchain
Week
scheduled
to
be
held
in
Dubai
this
week,
company’s
chief
marketing
officer
Rachel
Conlan
talked
to
Gadgets360
about
the
exchange’s
areas
of
focus
in
terms
of
its
marketing
dos
and
don’ts
as
the
firm
expands
its
businesses
globally.
Conlan
was
appointed
to
the
position
of
Binance’s
CMO
back
in
2023
right
after
Richard
Teng
replaced
company
founder
Changpeng
Zhao
as
the
CEO.
Over
the
past
year,
Conlan
has
keenly
observed
what
works
for
Web3
marketing
and
what
are
its
major
challenges.
The
Binance
executive
told
Gadgets360
that
the
exchange
plans
to
merge
awareness
initiatives
with
Web3
technologies
to
educate
the
international
community
on
how
they
can
use
crypto
to
diversify
their
portfolios.
“I
firmly
believe
that
building
trust
with
new
users
who
are
unfamiliar
with
crypto
should
be
the
top
priority
for
any
player
who
wants
to
be
in
this
industry.
The
space
is
still
comparatively
new
and
can
seem
complex
for
new
users
especially
because
of
regulatory
uncertainty
on
a
global
level,”
Conlan
told
us.
“As
more
regulatory
clarity
will
emerge,
it
will
make
new
users
participate
in
crypto
with
enhanced
transparency.
Web3
firms
must
lay
special
focus
on
education
and
community
engagement
because
they
are
the
key
pillars
to
support
the
brand.”
In
our
chat,
we
also
dived
deeper
into
how
Binance’s
marketing
strategy
has
evolved
as
the
exchange
has
faced
regulatory
scrutiny
and
legal
challenges,
as
well
as
market
restrictions
in
multiple
parts
of
the
world.
Here
are
edited
excerpts
from
our
conversation:
Gadgets360:
How
does
Binance’s
marketing
approach
differ
from
that
of
traditional
financial
services
companies?
Rachel
Conlan:
While
traditional
companies
emphasise
brand
loyalty
and
rely
heavily
on
conventional
advertising,
our
strategy
is
centered
around
community-driven
engagement,
events
and
education.
We
leverage
social
media
and
digital
platforms
to
create
authentic
conversations
with
our
users,
simplifying
complex
crypto
concepts
and
making
the
space
more
accessible.
Moving
forward,
we’re
evolving
our
marketing
strategy
to
meet
the
next
generation
of
users
—
wherever
they
are
on
their
crypto
learning
journey.
We’re
tailoring
our
content
and
engagement
to
provide
value
at
every
stage.
This
allows
us
to
guide
users
while
ensuring
they
feel
informed.
Gadgets360:
How
do
you
incorporate
community
feedback
into
Binance’s
marketing
strategies?
How
important
do
you
think
community-driven
events
are?
Rachel
Conlan:
Through
direct
feedback,
surveys,
and
interactions
at
events,
we
try
to
incorporate
their
inputs
to
shape
everything
—
from
product
development
to
the
way
we
communicate.
We
have
introduced
#BinanceBuild,
a
weekly
social
update,
where
we
share
updates
with
our
community
on
the
progress
of
various
initiatives.
Through
#BinanceBuild,
users
can
see
if
their
suggestions
are
being
implemented
and
the
progress,
giving
them
insight
into
how
their
feedback
is
driving
real
change.
Community-driven
events
make
for
an
essential
part
of
this
approach.
Whether
through
online
forums,
in-person
meetups,
or
larger
initiatives
like
Binance
Blockchain
Week,
we
actively
engage
with
our
community
to
gather
real-time
feedback.
It’s
imperative
for
Web3
firms
to
ensure
that
their
marketing
plans
are
aligned
with
the
needs
and
expectations
of
their
community
members.
Gadgets360:
Do
you
see
NFTs
and
the
metaverse
being
part
of
the
future
of
Binance’s
marketing
efforts?
Rachel
Conlan:
Although
the
NFT
market
has
seen
a
decline
in
recent
years,
we
believe
these
cycles
are
a
natural
part
of
any
emerging
industry,
particularly
in
the
evolving
crypto
space.
At
Binance,
we
see
NFTs
not
merely
as
digital
assets
but
as
powerful
tools
for
building
deeper,
more
authentic
connections.
NFTs
do
have
the
potential
to
strengthen
engagement.
The
metaverse,
meanwhile,
represents
an
exciting
new
frontier
for
virtual
engagement.
It
offers
vast
opportunities
for
brands
to
create
interactive
digital
spaces,
host
virtual
events,
run
immersive
educational
experiences,
and
open
new
doors
for
user
interaction.
Our
long-term
vision
is
to
harness
these
technologies
to
create
a
seamless
connection
between
the
digital
and
physical
worlds,
expanding
what’s
possible
with
the
innovations
of
Web3.
Ultimately,
these
tools
represent
different
entry
points
for
users
to
interact
with
blockchain
and
web3
technology.
Gadgets360:
How
do
you
balance
marketing
Binance’s
products
while
adhering
to
regulatory
guidelines
in
different
countries,
given
that
crypto-related
ads
are
restricted
in
multiple
nations?
Rachel
Conlan:
While
we’ve
secured
20
licenses
and
registrations
globally,
the
regulatory
landscape
remains
unclear
in
many
markets,
adding
complexity
to
balancing
marketing
and
compliance.
Conducting
thorough
research
on
local
regulations
and
working
within
the
frameworks
enables
us
to
tailor
our
strategies,
even
when
the
rules
aren’t
fully
defined.
In
markets
where
regulatory
clarity
is
still
evolving,
we
focus
on
education
and
community
engagement
rather
than
aggressive
product
promotion.
We
look
at
content
like
webinars,
articles,
and
social
media
resources
to
users
understand
the
crypto
landscape,
the
benefits
and
risks
of
our
products.
We
also
maintain
an
open
dialogue
with
local
regulators
to
ensure
our
messaging
complies
with
the
evolving
rules.
We
have
been
ramping
up
our
engagement
with
crypto
influencers
to
reach
users
who
are
already
familiar
with
the
space.
We
have
also
partnered
with
names
like
Cristiano
Ronaldo
and
F1’s
Alpine
team
to
reach
beyond
the
crypto
world
and
into
everyday
conversations.
These
collaborations
help
make
Binance
more
relatable
and
recognisable
to
a
broader
audience.
Gadgets360:
What
are
some
of
the
biggest
challenges
you
face
as
CMO
in
an
industry
that
is
constantly
evolving?
Rachel
Conlan:
The
crypto
landscape
is
constantly
shifting
due
to
rapid
technological
advancements,
evolving
regulations,
and
changing
market
conditions.
The
constant
requirement
to
keep
up
with
this
ever-changing
crypto
landscape
to
stay
relevant
is
a
challenge.
Customising
marketing
campaigns
as
per
the
requirements
of
specific
regions
takes
bone-breaking
research
and
discussions.
Balancing
the
excitement
around
emerging
trends
with
the
responsibility
to
educate
our
audience
needs
us
to
always
be
alert.
With
so
much
attention
on
technologies
like
decentralised
finance
and
the
metaverse,
it
is
extremely
important
that
our
marketing
efforts
focus
not
just
on
hype
but
on
providing
genuine
value
and
understanding
to
our
users.
