Topic: Binance - World's Leading Cryptocurrency Exchange (Read 462 times)

Dialogue with Binance CMO Rachel: Unveiling Binance's Global Marketing Strategy, Proactive Localization and Emotional Connection

"Rachel stated that Binance executives, including CEO Richard Teng and He Yi, hold meetings every night to maintain agile communication. She also admitted, "This is the most exciting and challenging job I have ever had."

Emily from Shanghai never expected that as a user, she could take a photo with the founder of Binance, whose market value exceeds $90 billion. This scene took place during Binance's Blockchain Week in Dubai, which attracted users, partners, and practitioners from around the world. CZ, the founder and former CEO of Binance, unexpectedly appeared on stage for a half-hour sharing session, during which applause and laughter erupted from the audience. Afterwards, everyone lined up to take photos with CZ, while another co-founder of Binance, He Yi, also became a "photo spot" at the venue, with attendees eagerly taking pictures with her.

This experience allowed her, who had previously worked in traditional finance, to closely feel the vitality and cohesion of the crypto community. In the formal and rigid traditional finance sector, it is hard to imagine ordinary users gathering together to listen to founders and executives share insights, and even engage in close interactions and take photos.

At the Binance Blockchain Week in Dubai from October 30 to 31, the world's largest cryptocurrency exchange, Binance, presented not just a financial event in the Web3 field, but more of a carnival for the cryptocurrency industry. As the Chief Marketing Officer (CMO) of Binance, Rachel Conlan was the overall person in charge of this event.

The CMO position was held by He Yi when she joined Binance in August 2017, and now Rachel Conlan has taken over this role for nearly a year and a half. During a time when Binance faced unprecedented challenges, she led her team to support and witness Binance's steady growth. According to the latest data, as of the end of October this year, Binance's global user count has approached 240 million, and this cryptocurrency exchange is leading the global crypto market with the largest market share.

PANews had an exclusive conversation with Rachel Conlan in Dubai, attempting to uncover Binance's marketing focus, brand promotion strategies, and KPIs. She stated that Binance's executives, including CEO Richard Teng and He Yi, hold meetings every night to maintain agile communication. She also admitted, "This is the most exciting and challenging job I have ever had."

From Traditional Marketing to Crypto: Emotional Connection with Users is Always Key

Before joining Binance in June 2023, Rachel had 15 years of marketing experience. When discussing her journey from traditional marketing to the crypto industry, she expressed that she has always been attracted to fast-growing businesses and tech companies. The foundational marketing knowledge she gained while working at renowned advertising firms like Havas equipped her with agile decision-making skills to handle strict client demands. "This experience made me understand the importance of speed and scale, allowing me to make real-time decisions without hesitation. I excel at digesting large amounts of information and distilling it into actionable steps." This ability has enabled her to quickly adapt and be effective in a data-driven environment like Binance.

When talking about the uniqueness of the crypto industry, Rachel pointed out that her experience in the sports and entertainment sectors at Creative Artists Agency helped her realize that marketing is not just about functional display, but also the art of building emotional connections. This principle is also applied in Binance's marketing, as she emphasized, "This is also what I proudly consider to be a core part of Binance; we are not just a functional product, we have an emotional connection with our users."

The fast pace of the crypto field excites and challenges her simultaneously. She mentioned that she now spends several hours daily on social platforms, and her husband even complains that she is always on her phone, but she insists that this is work, and she feels immersed in it. Because this is where she understands the major market trends, "helping us capture these trends and know what we should do."


Binance's Global Market Expansion: Key Strategy is "Localized Marketing"

Over the past seven years, Binance took five years to reach 100 million users and then two more years to surpass the 200 million mark. Currently, Binance's global registered user count is approaching 240 million. Rachel pointed out that Binance's user growth has been a long process. This growth rate positions Binance to potentially become the first crypto trading platform to reach 1 billion users. She believes, "Binance is progressing as planned, hoping to smoothly reach the 1 billion user goal I set as a marketer. That will be a key milestone for the entire industry moving from niche to mainstream."

To achieve this goal, one of Binance's core strategies is localized marketing. Rachel explained, "We operate in over 100 countries with a diverse user base, including OGs, newcomers, long-term holders, traditional users, and institutional users. We always maintain a global perspective while taking localized actions, adjusting our marketing plans to better attract users from different regions, such as the Asian market, Mandarin-speaking regions, Japanese users, and Vietnamese users. This is an important part of our work."

In addition, Binance focuses on collaborations in the sports and entertainment sectors relevant to local users, hosting events related to local communities, and ensuring that different types of content are set for different individuals during large events like Binance Blockchain Week.

At Binance Blockchain Week, Binance invited around 350 KOLs. "We strive to ensure coverage of KOLs of all sizes, from top-tier KOLs to smaller but still significant ones, to connect with different audience groups. We are also continuously monitoring emerging KOLs and inviting them to join our community."

During Binance Blockchain Week, Rachel hosted the Binance Square Creator Awards ceremony. Currently, there are about 800,000 creators on the platform. "We awarded 12 of them. While everyone is a winner, these 12 stood out in the community and received votes of recognition. Additionally, we will hold smaller or more intimate events, conducting numerous meetings with the leadership team and KOLs to understand their feedback and areas where we as an industry and company can improve."


In-Depth Analysis of Binance's Marketing KPIs: Brand Growth, User Growth, and Operational Efficiency

As the world's largest cryptocurrency exchange, what exactly are the marketing team's KPIs? Is it the price of BNB or the number of users?

Rachel introduced that Binance's marketing team has three core KPIs: First is brand growth—social exposure and community engagement, which is similar to media platforms, ensuring that we have enough voice share in the industry to maintain leadership.

The second focuses on user growth, trading volume, and cross-product usage, and how to help users engage more deeply with the platform. The data-driven management in this area makes Rachel not just a marketer but also a driver of business growth. She stated that the decisions made by the team are based on data, and while it's not entirely about ROI and KPIs, it's more about getting better.

Finally, Rachel's team focuses on operational efficiency. As the Binance marketing team expanded from the initial 5 members to 235, ensuring effective and efficient operations, especially in a global context and operating in multiple languages, is crucial.

Rachel discussed Binance's recent collaborations with well-known figures and brands such as Cristiano Ronaldo (CR7), The Weeknd, and the Alpine F1 team, pointing out that these collaborations not only enhance brand exposure but also introduce new user groups to the crypto industry. She mentioned that these collaborations help Binance reach more non-crypto-native users.

"These marketing activities are very effective in introducing cryptocurrency to new audiences. Therefore, they can increase awareness and change the public's perception of the industry. Because, as you know, there are many misconceptions and biases about cryptocurrency, and we have been working hard to counter these views. For CR7, when he considers the next step in his career, Web3 technology and blockchain allow him to connect with his audience in a whole new way."

Rachel stated that as one of the largest trading platforms in the crypto industry, she and her team do not want to communicate only with the same group of users. "We know the cryptocurrency community is a core group, but we need to attract more other users without alienating those core users. Therefore, leveraging strategies like sports and entertainment is part of our strategy."


Addressing Global Regulatory Challenges: Adversity is the Norm, Binance is Still a "Newborn"


Last year, Binance reached a settlement with the U.S. Securities and Exchange Commission (SEC), attracting widespread attention in the market. Now, under the leadership of a new CEO, Binance has begun a new chapter. In the context of constantly changing global crypto regulatory policies, Rachel emphasized Binance's rigorous attitude towards compliance.

Rachel, along with Binance CEO Richard Teng, co-founder He Yi, and other executives, collaborates daily in a flat structure, "always staying active." Rachel stated that they stand on the shoulders of giants who created Binance. "We communicate multiple times a day, holding meetings every night to discuss important issues of the day for immediate resolution. This is a very collaborative and always-online approach, unlike traditional companies that require cumbersome reporting processes. Our processes are very streamlined and efficient, forming a culture of reporting issues as they arise and quickly seizing opportunities. This agility will help us maintain our industry-leading position."

In her view, adversity is the norm in this industry. Binance has only been established for 7 years, making it a "newborn" in the entire industry landscape. "But we always view these bottlenecks as opportunities for improvement. We recognize that ensuring a safe and reliable user environment and compliance is crucial. Therefore, as the leadership team and various business units of Binance, we actively embrace compliance and strive to ensure that our marketing methods do not confuse users, conveying clear messages. Everything is for the users. Despite the difficult moments and fluctuations over the past 18 months, we have become stronger and better. This is also the charm of blockchain—bad actors are identified more quickly, and scams are exposed faster. Therefore, we invest heavily in infrastructure and support for law enforcement."

As global regulation of cryptocurrency continues to evolve, Rachel proposed specific methods from a marketing perspective. She stated that all messages sent to the market are reviewed by the legal department, which confirms that the information is accurate and will not cause issues or misunderstandings for users. "So we are very strict in this regard, but we adjust according to the market we are in. This is also why I work closely with our legal and compliance teams. I have worked in three regulated industries: banking clients, pharmaceuticals, and highly regulated alcohol marketing, so I understand the importance of establishing these norms and governance measures to ensure the safety of our team and users, but we will adjust according to market needs."

Future of the Industry: Integration of Web 2.0 Brands and Anticipation of Widespread Crypto Payments

When discussing the future of the industry and hot trends, Rachel expressed a strong interest in the re-entry of Web 2.0 brands into the blockchain and crypto industry.

She stated, "We saw this trend 24 months or 36 months ago, especially during the last bull market. For example, LVMH is at the forefront of using blockchain to verify product authenticity and implementing seamless payments through blockchain, which indeed provides opportunities for the efficiencies I mentioned earlier. Therefore, partnerships and alliances with Web 2.0 will become crucial."

Additionally, she is looking forward to the widespread adoption of crypto payments in daily life, hoping that crypto payments can be as convenient and widespread as Mastercard and Visa cards, thereby achieving true mainstream acceptance of cryptocurrency. "What I look forward to most is for cryptocurrency to become a part of everyday society, integrated into daily life. Just like we use Mastercard, Visa, or Apple Pay now, in the future, you could use these payment methods just like using cryptocurrency and Binance Pay. I believe that until we achieve this, we cannot truly demonstrate the full utility and benefits of cryptocurrency to ordinary users. For example, for me, my father, and my grandmother, they need to be able to quickly access their financial assets. I think this is crucial."

Rachel expressed hope that by the end of 2025, there will be some progress announcements to help achieve this goal.

https://www.chaincatcher.com/en/article/2151769

Everything is fine with the Binance. "Funds are SAFU"

Binance will survive any crisis. Do not pay attention to the FUD inflated by the press

Elon, we are pretty certain it is an issue with the latest #doge wallet. We are in communications with the devs. Apologies for any inconvenience that may have caused you.

What happened here?  


https://twitter.com/cz_binance/status/1463098640319217670

$76 Billion a Day: How Binance Became the World’s Biggest Crypto Exchange
The trading platform surged by operating from nowhere in particular—without offices, licenses or headquarters. Now governments are insisting on taking some control.


https://www.wsj.com/articles/binance-became-the-biggest-cryptocurrency-exchange-without-licenses-or-headquarters-thats-coming-to-an-end-11636640029

Binance says it's trying to hunt down the Squid Game crypto token scammers
https://markets.businessinsider.com/news/currencies/binance-squid-game-crypto-token-scammers-cz-tracking-down-2021-11

Global crypto trading giant Binance expands Irish corporate network
https://www.independent.ie/business/irish/global-crypto-trading-giant-binance-expands-irish-corporate-network-40920879.html

Major cryptocurrency exchange Binance sees Ireland as part of its plans to establish a number of headquarters across the world, its CEO told Reuters on Thursday.

https://www.reuters.com/technology/binance-ceo-says-ireland-is-part-its-hq-plans-2021-10-07

In deed. Binance is world's leading exchange as far as trading volume, security and liquidity is concerned as well as variety of coins/token and NFTs available for trading and investing. I have been associated with this exchange since 2017 and so far this journey has been wonderful. I have witnessed the progress of Binance which has been marvelous throughout. The Price of Binance exchange coin BNB was around 1 dollar then and today it is above 500$ which vindicates confidence of Investors in Bianance.

Introducing the #BinanceWhaleGame!

Starting today, we're going to be hosting a series of games right here on Twitter.

There will be 10 players battling for the grand prize.

Starting prize: $50,000 in #BNB.

The prize increases as the games go on. Stay tuned.

https://twitter.com/binance/status/1452967323241955333

@Binance Coin

I understand it was the trader's fault, but what measure does Binance have in place to prevent such a thing from happening in the future, even if it was a bug on the trading algo from the client's side?

Shouldn't you guys implement like a feature that can automatically cancel one huge order that fills up the thin orderbook to a certain percentage in a matter of seconds?

2.0 bn          1,400,000+            24/7
Average daily volume                         Transactions per second                              Support


Binance
Binance Exchange is the largest crypto exchange by trade volume and one of the fastest in the world.

Academy
Binance Academy is an open access learning hub, providing a one-stop-shop for blockchain and crypto learning resources.

Charity
Binance Charity is a not-for-profit foundation dedicated to advancing blockchain-enabled philanthropy and global sustainable development.

Info
Binance Info is a crypto-encyclopedia; an open and objective information aggregation platform where anyone can contribute.

Labs
Binance Labs is an infrastructure impact fund and an initiative to incubate, invest in, and empower blockchain projects.

Launchpad
Binance Launchpad is the exclusive token launch platform for entrepreneurs to bring the most transformative crypto projects to life.

Research
Binance Research provides institutional-grade research reports, data-driven insights and analysis for investors in the crypto space.

Trust Wallet
The official wallet of Binance, Trust Wallet is a secure, decentralized wallet where users can send, receive and store their digital assets.

Binance Chain
Binance Chain is a community-driven blockchain software system, with developers and contributors from all over the world. Binance DEX is the decentralized exchange feature developed on top of Binance Chain.

Source https://www.binance.com/en/about

Fees: https://www.binance.com/en/fee/schedule