As a blockchain company, you can’t adopt the same approach as any other tech startup. At the same time, you cannot afford to underestimate the importance of effective strategies to bring in investors and users. Since you cater to a distinct audience; your blockchain marketing policy should be no less distinct.
Blockchain Marketing Is a System
Marketing has traditionally been a weak spot of many tech startups but blockchain marketing doesn’t have to relive that same fate. Your successful ICO is the beginning of your blockchain marketing strategy and you should know how to do marketing for blockchain and take the value you created, throughout your token sale, through to market.
Unfortunately, blockchain marketing is often equated to baseless claims about the product long before the market is able to test it. But this has nothing to do with an unethical, unchecked blockchain marketing strategy promoting bad ICOs.
If you are curious about how to do marketing for blockchain the right way, there are 3 levels:
- Product marketing - making it clear what you do, and what makes you different.
- Corporate marketing - establishing a position and delivering the company values through a blockchain marketing strategy.
- Customer marketing - getting in front of your audience to create leads and sales.
Remember that learning how to do marketing for blockchain requires planning, deliberation, efficiency, and repetition, which is what Lasting Trend does for you. Get started on your way to impeccable reputation and growing profits. You want to start slowly by making your audience care due to your blockchain marketing approach, and then make them act out of the desire to try your product.
3 Common Marketing Mistakes of Blockchain Startups
Against unfavorable odds, considering that most blockchain startups fail, thousands of people aspire to launch the next miracle product. If you want to join the winning percentage that survives, definitely avoid making these blockchain marketing mistakes.
1 - Thinking That Your Product Is Clear To Everyone
During the stage of establishing the messaging, the company has to answer WHY, WHAT, and HOW. Many companies struggle with these steps (later affecting the blockchain marketing strategy):
- WHAT (Competitive positioning) - determining the distinctive place for your product to occupy.
- HOW (Product/Solution messaging and Technology differentiation) - communicating the value.
Avoid the use of too much jargon and explain complex processes in the simplest way possible. Blockchain tech terms are not easy to understand unless you are a developer.
2 - Basing Blockchain Marketing Strategy on Social Media
Unlike any typical industry, this one will not attract the majority of their audience through social media. For example, as a step for the blockchain marketing campaign, send your white paper, or explain your values in any other form, to writers and publishers.
To get the right people’s attention, take a look at Redmond, The Verge, or business.com. If a Blockchain entrepreneur uses technology to help people with their forward-thinking ideas, they will be interested.
3 - Viewing Blockchain Marketing Communications as a One-Time Event
Quite the opposite – a blockchain marketing strategy must be done in a coherent sequence.
- Your plan should include a timeline and calendar of events. This sets the expectation that it will not gain immediate results and will keep you focused.
- You need to segment out each marketing initiative and customize it for the audience you are trying to reach: the general public, investors, staff, media, etc.
- Include a contingency plan. Sometimes, even the best plan from the best blockchain public relations agency goes awry.
Blockchain Marketing Tools That Work
Blockchain tech businesses are part of a new technology that does not yet have an obvious record of success to show its reliability. But even with these hurdles, with the right blockchain PR agency and the right tools, it becomes very enticing for the public. Transform the growing public interest for blockchain into loyal customer base with Lasting Trend.
Paid Campaigns: PR, Media Publications, Influencer Marketing, etc.
Blockchain is a relatively new concept, so media houses, blogs, newspapers, and websites are all trying to find experts in the field. Position your business as such and whatever form your campaign takes, seek out reputable platforms.
You shouldn’t appeal strictly to enthusiasts with your blockchain marketing strategy but to strive to attract both the experienced and inexperienced audiences on broad technology-based resources. For example, social media influence should roughly match your target market but not limit it.
Airdrop Programs & Bounty
Airdrops are giveaways involving risk and that offer a huge payoff. If campaign participants want to receive cryptocurrency tokens, they can share a post, sign up for a newsletter or something along these lines. The downside is that the interest can quickly die down.
A bounty program offers tokens to carry out a certain task. The task is set to fulfill a need for your business such as coding, content writing, translation, etc. Subsequently, this blockchain marketing strategy catches more attention from the community.
Exchange Marketing (Peer-to-Peer)
People trust people like them. So brands and businesses should treat their loyal users as informal influencers. Based on this concept, peer-to-peer (P2P) marketing encourages customers to attract others through recommendations. For blockchain marketing, you can apply a tokenized loyalty platform and offer free or extended access or exclusive deals to their customers. One of the advantages is that it doesn’t require large financial contributions.
Events & Meetup
The in-person events give your business the opportunity to establish communication with the right kind of people. You gain influential contacts, by knowing the crypto heads, and get real feedback from the general public.
If there is an industry-specific event, like a convention, a smart blockchain marketing strategy is to put up a stall. Advertise your social media accounts and encourage people to reach out. Also, see if you can participate in a discussion panel or at least join the onstage conversation.
Partnership Marketing (Targeted Outreach, dApp Sales)
Partnership Blockchain marketing builds a mutually beneficial campaign between two or more companies. Ideally, the company you partner with should not be a direct competitor. The most effective marketing partnerships are made with businesses that complement one another - payment providers, banks, and digital exchanges.
For example, you can meet your business objectives by taking advantage of the fact that cryptocurrency transactions are the primary utilization of decentralized apps.
Additionally, with these blockchain marketing tactics, you can ensure that such a tough stage as post ICO marketing goes as planned.
Create a Professional Website
Chances are your potential investors or buyers are going to use your website as the primary source of information. So, you should make sure the experience is educational, appealing and not complicated.
You can do it via WordPress and start building. Alternatively, you can use hired help because the website is not the time to significantly cut down expenses. Whatever route you take, remember that the website will constantly require tweaks and changes.
Use SEO to Improve Visibility
A good blockchain marketing strategy is not exempt from creating compelling and useful content. Users should interact with your site in a way that will smoothly lead across the pages with no dead-ends.
Use related terms in your content for blockchain SEO. But ranking for certain terms, such as Bitcoin, can have serious competition. Routinely check what terms you currently rank for and know what terms you would like to achieve more with.
Strive for Quality Content
Continuing the idea of the blockchain SEO, if you expect to rank higher, your only choice is to have a quality offering, one that is not based entirely on manipulation. But even more importantly, you want to provide educational and relatable content to build trust and awareness.
For the post ICO strategy, include comprehensive articles, news for the cryptocurrency fraternity, online courses, white papers, local events, interviews, and opinions. Become the platform for users to come to when they need anything blockchain-related.
Connect With Journalists
If you want to attract media attention, you can choose either of two ways: go broad or go deep. The first option involves getting the word out there with the help of press release distribution services.
The latter, blockchain marketing option, requires you to reach out to certain journalists who specialize in reporting blockchain stories. If you message them, let’s say, via Twitter, you should get a quick response. Be sure not to get on their nerves.
Use Telegram to Communicate Directly
Advertise on the Right Platforms
Traditional platforms like Google, Facebook and Twitter may not be the ultimate choice for placing blockchain ads. New technologies create the need for new, or at the very least less explored solutions. For example, take a look at Bitcoin Talk, Quora, Slack, and once again, Telegram.
Speaking of Quora, this website allows you to present your expertise while including links to resources but most importantly, your website. The more upvotes the post gets, the more publicity there will be.
Post Regularly on Reddit
The numbers speak for themselves – the Bitcoin community on Reddit has over 1.1 million subscribers and the cryptocurrency subreddit is close to 900.000. If you build up your karma by engaging in discussion and analysis, your own subreddit can attract a loyal following. The running theme of blockchain marketing is being a useful asset for users and creating a clear channel of communication with them.
Create Groups on LinkedIn
LinkedIn has transformed and now it is not only a hub for business professionals but a content platform. Roughly 30 million LinkedIn members have decision-making authority for their companies. So by writing relevant, original articles and aiming your content to these members, you will gain valuable business connections.
Additionally, if you’re someone who sends a lot of emails from your personal or business account, add your LinkedIn profile to your email signature.
Be Featured In a Podcast or Start Your Own
The written social media format can be very limiting. Especially considering the complexity of blockchain technology, you may want to hit up the crypto community and discuss it in the audio format.
If possible, launch your own podcast. It is an even better approach that allows you to put an emphasis on your brand. The audience will gain a better understanding of your ideas and concepts and thus, move closer to your blockchain startup.
Create Referral Links
Generally, the higher the traffic, the higher the probability of generating leads. If you operate a cryptocurrency exchange or, as a blockchain entrepreneur, are in the position to create an incentive to share your link, utilize it. So if a person receives a link from their friend or some other trusted person, they are more likely to pay attention. As a plus, you will have a better knowledge of where the website is being used.
Bonus: Case Study
The co-founder of Blockgeeks, a Blockchain entrepreneur, Ameer Rosic learned firsthand that blockchain marketing is a whole new avenue of digital marketing. While doing marketing for Toronto cryptocurrency companies, he realized that known strategies were no longer applicable to blockchain ads.
He discovered that blockchain startups are heavily dependent on the quality of their content. Blockgeeks mostly relies on educational guides and within a year they started getting over a million organic views from Google.
To avoid making the same mistakes as everyone else, Lasting Trend offers comprehensive marketing support for blockchain projects, whether in the context of running a business or planning your next product launch. Be proactive with your company marketing and contact us! We help our clients create their own custom sales funnel with the best promotion and advertising tailored to the customer’s needs.
July 5, 2019