How to make the most out of a blockchain marketing strategy and techniques to best promote on-chain products and services
Following a bear market and industry issues, we must acknowledge that this year has been challenging for developing crypto projects.
More so than ever, investors are being picky before investing in Web3 projects. They are mostly only giving projects that already have a name for themselves or some special backing an opportunity due to having more confidence in the product following regulation issues brought up by FTX.
While it certainly has yet to be a walk in the park, with the right amount of time, resources, and marketing approaches, what may seem impossible can become a reality. Luckily for you, that’s where we at Coinbound shine and can help a lending hand.
So, check out these top marketing strategies for boosting your Web3 company to the highest heights in 2023.
Related Content: Crypto Marketing Agencies 101 (Everything You Need to Know for Web3)
Crypto is a somewhat recent concept, therefore, it is vital to have a dedicated community behind your project to help with promotional purposes and to stand out as trustworthy.
Although it may sound tricky to get the right people behind your project, it’s vital that you establish which types of buyers you want to represent your brand before your launch – are you looking at a younger audience who may be interested in non-fungible token (NFT) gaming cards, or a more mature audience interested in crypto music news? The beauty of Web3 is that it attracts a range of audiences. So, pick yours wisely!
Although community marketing strategy can take up a lot of time, it is crucial. The best way to create a following is by creating a Discord channel where members of your project can join and discuss the industry and upcoming news. Here, you may even want to consider asking members what they would like to see from your project, to widen your ideas.
Other useful social channels for creating community-channels are Twitter and Instagram. If you are unsure about how to promote your company or who to target it to, we at Coinbound have a team of experts who can direct you on the right route to take.
You can also check out this podcast, “The Importance of Twitter for Crypto Companies”, with the founder of Coinbound, Ty Daniel Smith.
Once you kick-start your community marketing strategy and have a somewhat steady following behind you, your customers must trust that your product is advantageous and worth purchasing.
If you have been working to build credibility yet seem to receive negative feedback, there are many ways to get your product’s reputation back on track and to gain trust.
Not forgetting, it’s vital to never mislead your buyers, improve aspects your customers may not like, invest time and research to ensure your product benefits your clients in the most advantageous ways, and follow through on your promises. Being transparent is the key for a successful business.
Set Practical Achievements
Setting achievable goals are the core of every profitable crypto project. Therefore, it’s essential to develop a clear idea of what you want your project to achieve ahead of time – especially before reaching out to investors, as they will want to know what their finances are going toward in the future.
To get an idea of successful goals, look at how much you want your project to generate, how much its brand awareness should increase, alongside sales, etc., including the amount of time. Goals every six months are a good idea.
Once having a big idea of your endgame, you can accurately create a crypto marketing strategy. To help hit your target, measure your performance against your goals and tweak when necessary.
Work With a Crypto Marketing Agency
Although the above information can be useful, it is important to note that while blockchain technology has the potential to offer many benefits, it is not a panacea and may not be the right fit for every company or product. Therefore, you must carefully consider whether and how to incorporate blockchain into your marketing strategy.
At Coinbound, we are aware this can be a difficult task, and are here to help! With assistance from our marketing team, this process can be 100 times more straightforward. The first concept we will look at is which value your product or service offers, and how blockchain technology enhances the value. Then, we can decide which channels are most useful for reaching your target market, such as social media, email marketing, paid advertising and events.
Moreover, we will then put your marketing plan into action, tracking the results step-by-step to see what’s working, and what needs tweaking. But, fear not, we have worked on numerous crypto projects to help reach their target markets by understanding what makes their target market tick and making projects stand out from the crowd.
Regardless of industry issues, reach out to us at Coinbound and watch your Web3 product grow.