Exclusive Interview with Binance CMO Rachel: Unveiling Binance's Global Marketing Strategy, Proactive Localization and Emotional Connection
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Exclusive Interview with Binance CMO Rachel: Unveiling Binance's Global Marketing Strategy, Proactive Localization and Emotional Connection
Rachel said 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've ever done."
Navigating Web3 tides with focused insightsBy Weilin, PANews
Emily from Shanghai never expected that as a user, she would get to take a photo with the founder of Binance, a company valued at over $90 billion. This moment took place during Binance Blockchain Week in Dubai, an event drawing users, partners, and professionals from around the globe. CZ, Binance’s founder and former CEO, made a surprise appearance, delivering a 30-minute talk that was met with applause and laughter. Attendees then lined up to take photos with CZ, while He Yi, another co-founder of Binance, became a "human打卡 spot" of the conference, with participants eagerly posing alongside her.
This experience gave Emily, who previously worked in traditional finance, a close-up view of the vitality and cohesion within the crypto community. In the formal, rigid world of traditional finance, it's hard to imagine ordinary users gathering together to listen to founders and executives speak, let alone interact with them up close and take selfies afterward.
From October 30 to 31 in Dubai, Binance Blockchain Week showcased not just a financial event in the Web3 space, but more like a carnival for the cryptocurrency industry. As Binance’s Chief Marketing Officer (CMO), Rachel Conlan is the mastermind behind this large-scale event.
The CMO role was originally held by He Yi when she joined Binance in August 2017. Now, Rachel Conlan has taken over the position and served in this capacity for nearly a year and a half. During one of the most challenging periods in Binance’s history, she has led her team through steady growth. According to the latest data, Binance now has nearly 240 million global users as of the end of October this year, maintaining its leading market share and solidifying its position at the forefront of the global crypto market.
PANews sat down exclusively with Rachel Conlan in Dubai to uncover Binance’s marketing priorities, brand promotion strategies, and KPIs. She revealed that Binance executives, including CEO Richard Teng and He Yi, hold nightly meetings to ensure agile communication. “This is the most exciting and challenging job I’ve ever had,” she admitted.
From Traditional Marketing to Crypto: Emotional Connection with Users Remains Core
Prior to joining Binance in June 2023, Rachel had accumulated 15 years of marketing experience. Reflecting on her transition from traditional marketing to the crypto industry, she said she has always been drawn to fast-moving businesses and tech companies. Her foundational marketing skills developed at renowned agencies like Havas equipped her with the ability to make agile decisions under strict client demands. “That experience taught me the importance of speed and scale, enabling me to make real-time decisions without hesitation. I’m good at processing vast amounts of information and distilling them into actionable steps.” This capability allowed her to quickly adapt and excel in Binance’s real-time, data-driven environment.
When discussing the uniqueness of the crypto industry, Rachel pointed out that her prior experience in sports and entertainment at Creative Artist Agency helped her realize that marketing isn’t just about functional demonstrations—it’s also an art form centered on building emotional connections. This principle is applied at Binance. “It’s something I proudly consider central to Binance—we’re not just a functional product; we have an emotional connection with our users,” she emphasized.
The fast pace of the crypto space brings both excitement and challenge. She mentioned spending several hours daily on social media—so much so that her husband jokes she’s always on her phone. But she insists it’s work, as this is where she immerses herself and identifies major market trends. “It helps us catch these trends and know what we should do next.”
Binance’s Global Expansion: The Key Strategy Is “Localized Marketing”
Over the past seven years, Binance took five years to reach 100 million users and just two additional years to surpass 200 million. Today, Binance has nearly 240 million registered users worldwide. Rachel noted that user growth has been a long journey. At this rate, Binance could become the first crypto exchange platform to reach 1 billion users. “We are on track to achieve the 1 billion user goal set for me as a marketer. That milestone will mark a critical shift for the entire industry—from niche to mainstream.”
To reach this ambitious target, one of Binance’s core strategies is localized marketing. “We operate in over 100 countries with diverse user groups—including OGs, newcomers, long-term holders, retail users, and institutional users. We maintain a global vision while acting locally, tailoring our marketing strategies to better engage users across different regions, such as Asia, Mandarin-speaking areas, Japan, and Vietnam. This is a crucial part of our work.”
In addition, Binance focuses on partnerships in local sports and entertainment sectors and hosts community-specific events. It ensures that large events like Binance Blockchain Week offer tailored content for different audience segments.
During Binance Blockchain Week, Binance invited around 350 influencers. “We strive to include KOLs of all sizes—from top-tier to smaller but highly influential ones—to connect with diverse audiences. We also keep an eye on emerging KOLs and invite them into our community,” Rachel explained.
At the event, Rachel hosted the Binance Plaza Creator Awards Ceremony. The platform currently supports approximately 800,000 creators. “We awarded 12 individuals. While everyone in the community is a winner, these 12 stood out and received community votes. We also host smaller, more intimate gatherings with our leadership team and KOLs, holding extensive meetings to understand their feedback and identify areas where we and the industry can improve.”
Decoding Binance’s Marketing KPIs: Brand Growth, User Growth, and Operational Efficiency
For 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 explained that Binance’s marketing team focuses on three core KPIs. First is brand growth—measured by social visibility and community engagement. Similar to media platforms, Binance aims to maintain sufficient share of voice in the industry to preserve its leadership position.
The second KPI centers on user growth, trading volume, and cross-product usage—how effectively the platform encourages deeper user engagement. This data-driven approach transforms Rachel from a traditional marketer into a driver of business growth. She noted that decisions are based on data—not solely ROI or KPIs, but more importantly, continuous improvement.
Third, her team prioritizes operational efficiency. As Binance’s marketing team expanded from five people to 235, ensuring effective and efficient operations—especially across multiple languages and global regions—has become increasingly vital.
Rachel highlighted recent high-profile collaborations with Cristiano Ronaldo, The Weeknd, and the Alpine F1 Team. These partnerships not only boosted brand visibility but also brought new, non-native crypto users into the ecosystem. “These campaigns are highly effective in introducing crypto to new audiences. They raise awareness and reshape public perception of the industry. As you know, there are many misconceptions and biases about crypto—we’re constantly working to counter those narratives. For Ronaldo, when considering his career’s next phase, Web3 and blockchain offered him a completely new way to directly engage with his fans.”
Rachel stressed that as one of the largest crypto platforms, she and her team don’t want to communicate only within the existing user base. “We know the crypto community is a core group, but we need to attract others without alienating the core. That’s why leveraging sports and entertainment is a key part of our strategy.”
Navigating Market and Share Volatility: Stay Agile and Keep Messaging Balanced
Globally, how does Binance’s market share vary across regions? Which market is growing fastest? Rachel identified Asia as the most exciting and mature market. Asian consumers are young, digitally savvy, trend-conscious, and early adopters of technology—including crypto.
Similarly, the Middle East and North Africa (MENA) region holds great potential, especially the UAE, where crypto adoption reaches nearly 20% to 25%. “People see it as part of a diversified financial strategy. So I’m very bullish on these two regions. But each has its own characteristics—LATAM, for example, is also showing unique appeal. Each requires distinct educational approaches, engagement methods, and content strategies.”
As the leader among centralized exchanges (CEX), Binance still experiences fluctuations in market share. Rachel acknowledged that volatility is inherent in any financial business, not just crypto. Therefore, Binance maintains a core strategy focused on education and consistent content delivery. During volatile periods, they provide different types of content to help users manage emotions like FOMO or fear. “We aim to help traders and users maintain balanced and focused mindsets. This is a key component of our content strategy.”
Rachel emphasized that Binance avoids hype-driven “gold rush” messaging. “We strive to remain neutral in our information delivery, truly focusing on education. After all, Binance is an exchange with many excellent tokens and listings—but we must ensure our messaging remains balanced.”
Facing Global Regulatory Challenges: Headwinds Are Normal—Binance Is Still a “Newborn”
Last year, Binance’s settlement with the U.S. Securities and Exchange Commission (SEC) drew widespread attention. Now, under the leadership of its new CEO, Binance has entered a new chapter. Amid evolving global crypto regulations, Rachel emphasized Binance’s rigorous compliance stance.
Rachel works closely with CEO Richard Teng, co-founder He Yi, and other executives in a flat, collaborative structure. “We stay highly active and connected,” she said. “We stand on the shoulders of the giants who built Binance. We communicate multiple times a day, holding nightly meetings to discuss pressing issues and address them immediately. It’s a highly collaborative, always-on culture—far removed from traditional corporate hierarchies with slow reporting chains. Our processes are streamlined and efficient, fostering a culture where problems are escalated quickly, solutions proposed in real time, and opportunities seized rapidly. This agility helps us maintain our number-one position.”
In her view, headwinds are normal in this industry. Binance is only seven years old—still a “newborn” in the broader landscape. “But we treat every bottleneck as an opportunity to improve. We recognize that ensuring a safe and reliable user environment makes compliance absolutely essential. As a leadership team and across all departments, we actively embrace compliance and are committed to ensuring our marketing doesn’t confuse users—our messaging must be clear. All of this is for the user. Despite difficult moments and ups and downs over the past 18 months, we’ve emerged stronger and better. That’s the beauty of blockchain—bad actors are exposed faster, scams uncovered quicker. That’s why we invest heavily in infrastructure and support for law enforcement.”
With global crypto regulation continuously evolving, Rachel outlined specific marketing approaches. All messages she sends to market are reviewed by the legal team to ensure accuracy and prevent misunderstandings. “We’re extremely strict in this regard, but we also adapt based on the markets we’re in. That’s why I work so closely with our legal and compliance teams. I’ve worked in three heavily regulated industries—banking clients, pharmaceuticals, and highly regulated alcohol marketing—so I deeply understand the importance of governance frameworks to protect both our team and users. Still, we remain flexible according to market needs.”
The Future of the Industry: Web2 Brands Entering Blockchain and the Rise of Crypto Payments
On future trends, Rachel expressed strong interest in Web2 brands re-entering the blockchain and crypto space.
“We’ve seen this trend over the past 24 to 36 months, especially during the last bull run. Take LVMH—they’re pioneering the use of blockchain for product authenticity verification and seamless payments. This creates real opportunities to drive the efficiencies I mentioned earlier. So partnerships and alliances with Web2 brands will become increasingly critical.”
She also looks forward to the widespread adoption of crypto payments in everyday life, hoping they will one day be as convenient and ubiquitous as Mastercard and Visa. “What excites me most is seeing crypto become a regular part of society—integrated into daily life. Just as we use Mastercard, Visa, or Apple Pay today, I envision a future where using crypto or Binance Pay is just as seamless. Only then can we truly demonstrate the full utility and benefits of crypto to average users. For me, my father, my grandmother—they should all be able to access their financial assets instantly. I believe that’s crucial.”
Rachel hopes to see progress announcements toward this goal by the end of 2025.
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