There’s no denying that cryptocurrency has taken over the world. Since the explosive impact of Bitcoin hit the economy several years ago, the industry hasn’t slowed down since, and there are cryptocurrencies and blockchain systems and companies popping up all over the place and in every sector.
With this, it should come as no surprise that Initial Coin Offerings (ICOs) now have bigger funding for ventures in this industry than any other traditional venture in history. It’s big business, and it’s not one you’re going to want to ignore.
However, with your own cryptocurrency or blockchain company, marketing to the masses is going to be one of your biggest challenges, especially since the competition out there is so rampant. Today, we’re going to talk about some of the key ways you can market your company while giving your campaign the best possible chances to succeed.
The Chances of Success are Slim
We’re not saying this to put you off; it’s simply a fact. Around 90% of all startups will fail within three years, many of which in their first year. This means to be successful; you need to be in the top 10%. This might sound scary, but if you’re willing to put in the hours and have the determination to succeed, there’s no reason why you can’t.
Remember, you only need to get it right once.
“However, this means you need to put yourself into the mindset of being in the top 10% and making decisions that will make you stand out against thousands of other projects. This is what we’ll talk about for the rest of this article,” shares Jenny Piercing, from a crypto writer at Originwritings and Nextcoursework.
Be Yourself, But Be Simple
You already have your own voice and your own style of putting yourself across because there’s no other company like you, so embrace it and roll with it. If you’re copying other projects or trying to emulate what they do, you won’t stand out, and you won’t succeed.
However, you also need to make sure you’re keeping things as simple as possible. There’s absolutely no reason you need to overcomplicate your campaign or the way you present yourself. Imagine your marketing to someone who has no idea what blockchain is technically, and sell this way.
Solve Problems, Don’t Seek Them
There are two different types of companies. Those that see a problem and create a solution, and those who create a solution and try to find a problem. You do not want to be the latter. Your company needs to be providing a real and comprehensive solution to a problem they are currently experiencing, even if that means just making their lives easier.
Spread the Word as Much as Possible
Competition is fierce in this industry, so you need to make sure you’re getting the word of your project out there, so anybody who’s interested in the blockchain industry cannot miss you. Create outstanding blog content and articles for your own website and guest posting on others.
Connect with the larger blockchain community through social media and forums. Reach out and get on YouTube channels and podcasts, and review sites, and business interview websites. You need to go large on marketing and get yourself everywhere you can get. The more people who know about you, the more potential you have to be successful.
Forget About Your Marketcap
“Every cryptocurrency goes up and down. Bitcoin goes up a lot, and it also goes down a lot. Every currency does. When it comes to marketing, forget about it and focus on what makes your product or service different. You could hit a massive gain in the short-term and create a lot of content to advertise it, only for it to go down again,” explains Paul Diaz, from a crypto writer at Academicbrits and Phdkingdom.
It’s not worth wasting your time. Just focus on spreading the word for the long-term gains, not celebrating the short-term, fleeting wins.
Get Involved with User-Generated Content
It’s always a great idea to get your community involved and encouraging them to create their own content that you can then use to market further. Not only does user-generated content create social proof that people are interested in your product, but it always gives you free content you can use to market with.
The more dedicated your fanbase and community is, the more loyal they’ll be, and the more sustainable your long-term growth will be.