Blockchain is a rather young technology. That means business ecosystems based on it have not been created yet, and there is no clear algorithm for developing and promoting blockchain projects, which is why many crypto startups fail at the idea stage. Problems also occur at further stages, including marketing.
To help you avoid common mistakes, here are three steps that will certainly advance your crypto marketing campaign and make it a success.
The right marketing for a blockchain project: what is it?
First of all, it is important to understand that not all investors are interested in blockchain projects. This business has a specific target audience. Nevertheless, following blockchain trends, some startups "bolt on" blockchain if it is not even needed. Most often this occurs in order to participate in an ICO and get a large sum from investors.
Sometimes it happens that a big team has worked on a large-scale project, documentation has been prepared, an attractive website has been created and a pitch deck has been done. But there is no clear answer to the question: "Why does your project need blockchain?" Of course, it shouldn't be that way.
If your project is good and works without blockchain, implement it as is. Otherwise, investors simply will not understand why another “blockchain bike” is needed. However, ideas that have been screened for viability with the blockchain ecosystem go to the next stage of development.
Step 1: Make proper preparations
In the fast-paced world of blockchain, good ideas appear quickly. In a niche where yesterday there was no one, today there may be several teams with equal ideas.
To develop steadily within your own niche, you need a strategy that includes a goal, objectives, budget, marketing plan, communication channels and the obligatory prioritisation of these channels in budgeting.
Basically, a blockchain project’s marketing has much in common with an ordinary project’s planning. In particular, the promotion strategy must include a content plan - all upcoming news, announcements, product releases, and conference participation must be planned.
Step 2: Make up a fine story
Despite the fact that cryptocurrencies are a high-tech market with many out-of-the-box ideas, most companies use cliches about the benefits of blockchain, forming an offering around theses well-known to their target audience.
To succeed, go further and come up with a unique product story that will appeal to the media and potential investors. Create added value, both in the technical stuffing and in the marketing shell of the product.
Step 3: Create quality and relevant content
Relevant (interesting, useful and timely) content is the power that pulls all the other tools along the way to winning audience trust. What kind of content is this? For instance, key documents, cutting-edge ideas (blog, expert articles), head office news, interviews with key people, reports from events and the team's progress reports.
The goal is to explain how the company is different from competitors, why its product is needed and why it will be in demand. It is also worth thinking about information dissemination channels and formats.
In addition, content should be diluted with internal "editorial" material - expert articles, multimedia about the product, infographics with interesting analytics, case studies and, maybe, memes.
Marketing tools to promote blockchain projects
By following the above three steps, you can activate the following marketing tools to the maximum:
- placing in ICO listings;
- AirDrop and Bounty campaigns;
- working with the investor base;
- affiliate programs to attract traffic, subscriptions, content, leads;
- reputation marketing;
- launch contextual advertising;
- setting up remarketing and retargeting;
- banner advertising;
- email marketing;
- working with media and niche experts;
- working with advisers and ambassadors.
You should use all these tools to attract more activity. However, remember that the cryptocurrency and blockchain market has many limitations: it is important to choose the right region and sources for promotion. It is also worth thinking about creating a community around the project: what exactly will attract and engage the user?
Look at the project through the eyes of potential (or existing) investors - maximise the return on investment in advertising. We recommend paying attention to all available communication channels with the client - social media, email, YouTube. Work with professionals, but do not count on full outsourcing - you will have to work as a team to achieve results.
Something else to keep in mind if you are promoting a blockchain project
- When launching and promoting a blockchain project, be aware of legal issues and restrictions imposed by different countries;
- There will be attempts to defraud you or project users, so take the security of your site, email databases and social media accesses seriously;
- Co-founders’ opinion is an opinion of the project: watch out for it both online and at meetings. Here reputation carries more weight than in other markets.
While blockchain remains a challenging area to develop new projects, the crypto industry still lacks good specialists, and they charge a lot. That's why excellent training is an essential part of a successful crypto marketing campaign.