With impressive features and abilities, blockchain is gaining popularity among investors, business owners, and even individuals. It is not limited to disrupting the financial sector but also marketing. As a result, we can witness people readily adopting blockchain technology to ensure more security and transparency in their processes and transactions. If you are also looking for a blockchain marketing agency to get started with digital marketing for blockchain, make sure you do it right.
First of all, you need to understand the role of effective marketing strategies in attracting more investors and users. Likewise, you should create digital marketing that caters to the distinct needs of your audience. In simple words, your blockchain marketing strategy must be unique, as your audience because its demands are different. In this post, we will explain the essentials to do marketing for blockchain. Before diving into it, let us understand the concept of blockchain technology and digital marketing and how they are related.
What is blockchain?
Blockchain is an incorruptible public ledger that stores data and transactions in multiple servers than a single server. Here are a few interesting statistics about blockchain every digital marketer and advertiser needs to know.
- Tech and financial companies’ investment in blockchain are nearly 1.4 billion.
- In 2016, blockchain startups raised $290 million.
- In 2017, the average blockchain project investment was $1 million.
- The expected value of the global blockchain market is $20 billion in 2024.
Blockchain and digital marketing?
Blockchain seems like a potential technology for improving and streamlining the processes in digital marketing and social media. For example, it offers better security to online users for their personal information, and marketers have to buy data before using it. Besides this, it will bring an end to censorship for publishing content on social media networks. Did we mention the rewards the users will get for their contribution on the platform?
So, whether you want to promote an ICO or social media campaign, blockchain marketing is a solution. However, here we will look at what it takes to market your ICO – Initial Coin Offering.
Tips to get your blockchain marketing right
Many startup owners faced challenges when using digital marketing effectively to promote their products and services. But it does not mean blockchain marketing has the same fate.
As a thumb rule, having a successful ICO is the first step of an efficient blockchain marketing strategy.
If you want your blockchain marketing to be successful, it should involve three levels:
- Product marketing – In this, you need to explain the niche you are working in and what makes you unique from the rest.
- Corporate marketing – Helps you establish your firm position in the market and deliver your values using a digital marketing strategy.
- Customer marketing – The last level includes releasing your market strategy to the public and generate leads and eventually sales.
Apart from launching a successful ICO, effective blockchain marketing requires planning, repetition, deliberation, and efficiency. For this reason, it is always advisable to work with one of the best ICO marketing companies.
Blockchain marketing ensures faster and significant results with minimal chances for failure. But still, some blockchain startups have failed. Are you wondering why? It is because of the common blockchain marketing blunders that they tend to make. If you do not want to fall into this category, avoid these mistakes in your blockchain marketing:
Considering blockchain marketing as a one-time event
Most people make this mistake of viewing blockchain marketing as a one-time event. But this should not be the case. Instead, it should involve coherent sequences. Therefore, a calendar of events and timeline is a must-have in your marketing plan. By doing this, you will be reminded that you will not gain immediate results. As a result, you will stay focused.
It is essential to segment out each digital marketing strategy and customize it depending on your audience, such as investors, media, staff, users, etc. Lastly, do not forget to have a contingency plan. At times, even a well-planned ICO marketing agencystrategy by the best may fail.
Assuming your potential audience understands the product
To establish a product in the market, it is vital to explain the WHY, WHAT, and HOW. Well, it will help your audience to get a clear idea about your product. However, most companies miss this step, which has a deteriorating effect on the blockchain marketing strategy.
Besides answering the WHY, WHAT, and HOW, it is advisable to limit too much jargon and try to explain the complex processes most simply. After all, only professionals are familiar with complicated terms and names.
Keeping social media the base of blockchain marketing
It is another common mistake many blockchain marketers make. Keep in mind that blockchain marketing is not like traditional digital marketing. Therefore, it is pointless to place your digital marketing strategy solely on social media, as this will not draw an audience from these platforms. You need to send your white paper, which explains your product values, to publishers and writers. It is one of the essential steps to include in a blockchain marketing campaign.
A must-have tools for improving your blockchain marketing
The concept of blockchain is still in its infancy, so there is no surefire record of reliability and stability. However, regardless of the limitations and hurdles, you can get desirable results using the right blockchain marketing tools and tricks.
Influencer marketing and media publication
Since blockchain is the latest innovation, so it is likely that not many are aware of it. So, you will find blogs, media houses, newspapers, and PR agencies constantly looking for experts in the field to publish appropriate information. You can grab this opportunity by positioning your firm or products such that your marketing strategy gets attention from renowned platforms.
But do not limit your blockchain marketing strategy to enthusiasts. It should fall under the bracket of both experienced and inexperienced audiences.
Airdrop & Bounty programs
When it comes to Airdrops, they are giveaways that come with risk and pay off in a significant way. And campaign participants can get rewards as cryptocurrency tokens by contributing to the platform. They can sign-up for a newsletter, write or share a post, and involve in any engaging activities. It has a fair share of downside that participants lose interest quickly.
On the other hand, a bounty program rewards participants for a specific task only. It could be anything that meets your business’s needs, like content writing, coding, translation, and many more. As compared to Airdrops, the bounty program is likely to get more attention.
The trust factor is likely to be more between similar kinds of people. After all, people will always turn to people like them. The recommendations are the efficient tools of marketing, both traditional and blockchain. Therefore, today, most brands use peer-to-peer marketing to draw more customers. Also known as exchange marketing, in P2P marketing, customers attract fellow beings using recommendations.
You can add this marketing to your blockchain marketing strategy by including a tokenized loyalty platform. Apart from this, provide loyal customers with exclusive deals, free access to services, and so on. Do you know what makes this marketing reliable is no hefty financial investments?
Another result-driven blockchain marketing tactic is partnership marketing. This type of marketing is also extensively used in traditional digital marketing due to its remarkable benefits. When it comes to partnership blockchain marketing, it creates a campaign between two or companies that is mutually beneficial.
Before you use partnership marketing, make sure the company you collaborate with is not your competitor. If you want to ensure a successful partnership between you and another firm, choose the one that complements your needs and requirements. Yourprospective ICO marketing companycan help you partner with the right company.
Coming to in-person meet-ups and events, you can use them to reach out to the right people. For example, these events are organized for professionals in the field, and by participating in them, you get the opportunity to interact. You will not only gain contacts of crypto heads but can also communicate with the general public to know their feedback.
For instance, by participating in an industry-specific event such as a convention, you can promote your social media platforms among the right audiences. Plus, it will be great if you participate in a panel discussion or an onstage talk.
In addition to these blockchain marketing tools and tactics, you must deploy digital marketing techniques to get your ICO marketing done right. It includes building an attractive and feature-rich website, using SEO for improving visiting, write high-quality content, and many more.
The bottom line
Undoubtedly, by using the right tools and tactics, you can market your ICO to the right audience. But to prevent any blockchain marketing blunders and get everything done correctly, always hire an experienced ICO marketing firm. Therefore, it is crucial to do your homework and research your agency before making a final decision. Remember, a reputable ICO marketing agency will offer the best solutions that suit their client’s needs, requirements, and budget.
Vin Boris is a Social Media Marketer and Content Writer at Steem Blockchain Experts, a Blockchain and Steem currency-based development, consulting, and marketing firm. Vin Boris has been Outshining in the Blockchain Tech. industry for more than 10 years.