The challenge most startups face is not developing cutting-edge technology, but communicating the value of their innovations to the public. Since many crypto projects are open-source, founders, core developers, and advocates are pushed to think of new ways to market their products. Blockchain marketing offers startups a unique opportunity to connect with their audience and build credibility in a space that values transparency and security.
Here are innovative blockchain marketing strategies and insights to elevate your startup and drive growth in the crypto space.
Why crypto marketing?
New firms dealing with cryptocurrencies are springing up, all seeking to get a share of the fast-growing crypto market share.
To launch your cryptocurrency or blockchain-based project, you must ensure it’s visible to the public. As such, you’ll need a robust digital marketing strategy.
Top marketing strategies for crypto startups
1) Have a proper working website
A well-designed website can help you to streamline your crypto marketing efforts. It generates trust among individuals who wish to collaborate with you.
2) Collect emails through email marketing
Email marketing is a more effective way to communicate with clients than social media. Most people prefer email to social media communication. Emails can also help you generate publicity for ICOs and other marketing stunts such as airdrops.
3) Make use of LinkedIn
If you want to connect with professionals from various industries, domains, and backgrounds, consider joining LinkedIn. You’ll discover lots of opportunities and like-minded communities on this platform.
Sales Navigator is a LinkedIn premium product that helps organizations generate leads. Many LinkedIn groups dedicated to blockchain and cryptocurrency can help you to publicize your cryptocurrency.
4) Try out bounty campaigns
Bounty campaigns are a marketing technique in which potential contributors carry out promotional actions for a project in exchange for a percentage of the tokens.
Bounty campaigns aren’t required for all projects, but they can be incredibly beneficial on multiple levels. While they are typically used for cryptocurrency marketing, they can be used for much more.
5) Airdrops
An airdrop is a marketing campaign in the cryptocurrency sector in which money or tokens are distributed to wallet addresses to create awareness of a new virtual currency.
Minor amounts of the new virtual currency are distributed to the wallets of active blockchain community members. These tokens are exchanged with services such as retweeting a message released by the crypto company.
Airdrops are popular and effective in the Bitcoin world. If you’re new to the market, sending free coins or tokens to people’s wallet addresses can help promote your new currency.
6) Press release
A simple press release is easy to write, but a good crypto press release takes more time and work. Adapting a standard press release template to meet your company’s demands is a good idea. However, for a crypto press release to be effective, you must first establish which components of your news are the most important.
Customers are looking for precise information. Provide the information right away with a concise press release.
7) Social media marketing
Social media networks are accessible to the general public. Businesses can leverage these platforms for blockchain marketing, and tracking their customer’s or potential buyers’ activities.
By connecting with your target audience on social media, you can better understand them and get insights into their preferences, dislikes, and interests. With this information, you can design a more effective marketing campaign to attract them.
8) Influencer marketing
Crypto influencers can dramatically impact the value of a blockchain marketing project. According to a survey, nearly 90% of buyers follow the advice of trustworthy influencers.
With their skills, influencers can help you generate organic engagement, growth, and opportunity for your project. This boosts your general profile in the industry and community interest in your company.
9) Search engine optimization (SEO)
SEO is a low-cost, evergreen technique for recruiting new customers and growing project awareness. It can significantly impact your bottom line if you follow a few basic methods from the outset.
There’s no successful digital marketing plan that doesn’t include SEO. Select and keep track of the keywords relevant to your project to be productive with SEO. It’s also crucial to make your website mobile-friendly and regularly update your blog posts and material.
10) Telegram
Setting up a Telegram account for your cryptocurrency project will help you reach a wider audience. Telegram has recently gained lots of interest in the crypto community and for a good reason.
Unlike other social media networks, Telegram allows crypto advertisements. Traders can also benefit from end-to-end encryption on the site, ensuring their anonymity.
Blockchain marketing is the process of promoting existing and new cryptocurrency projects. Educating the public and building trust can even contribute to early adopters, who are critical to the success of any project. You can promote crypto using social media ads, PPC ads, SEO, and innovative ad stunts like Airdrops.
Ultimately, strong crypto marketing strategies will help you to promote your project in an organic, cost-effective, and scalable way.
Tools & examples for blockchain marketing
1) Optimized GitHub documentation
Developer documentation and a well-organized GitHub repository are incredibly effective marketing tools. This is true whether your company is constructing a suite of solid APIs like Blocknative or establishing an entirely new blockchain.
With optimized GitHub documentation, you can grow your community, your network impact, and your ecosystem as well as the value of your project.
The crypto market is highly competitive, and one way to maintain a competitive advantage is to provide the best documentation for your developer community. This allows them to build quickly, find answers to common questions, and, most importantly, refer you to other builders in the network who will integrate your solution into their product.
Example: Yearn Finance’s GitBook Documentation
While GitHub is best known for hosting code repositories, services like GitBook provide a straightforward way for teams to organize developer documentation.
Yearn Finance is a well-known DeFi mechanism on Ethereum. Yearn, also known as a yield aggregator, automatically distributes its users’ cash among many yield farms to maximize the income earned on their investments.
While Yearn Finance may be difficult to grasp from a financial or technical standpoint, the GitBook documentation’s clarity, organization, and simplicity make it easy for developers to build. Users can also engage in one of today’s most intriguing decentralized finance projects.
3) Yield farming
The most well-known and sought-after marketing technique for token-based crypto companies is yield farming on decentralized exchanges (DEX).
A decentralized exchange allows investors to trade digital assets against a large pool of tokens, with prices determined by a mathematical formula (for example, a constant product function found in Automated Market Makers). This eliminates the need for a centralized entity to match orders between market participants.
Yield farming is when investors who hold a project’s token earn interest by providing liquidity (by adding their tokens to a large pool) so that traders worldwide can buy and sell freely.
Since yield farming allows investors to earn interest (up to 100% APY), it draws many investors who want to acquire, keep, and yield on the project’s token.
Example: Raydium Promotes New Startups with AcceleRAYtor
Raydium is a decentralized exchange (DEX) based on the Solana blockchain that provides pools, yield farming, and swaps. Utilizing Solana RPC allows for faster transactions and better network efficiency, enhancing the overall performance of the platform.
AcceleRAYtor is an incubation program that lets Solana-based entrepreneurs secure funding through Initial DEX Offerings (IDOs) while also receiving support from Raydium’s staff.
Media Foundation and Mercurial Finance were over-bought by 10,000 percent and 9,000 percent, respectively, during their first two debuts on AcceleRAYtor.
Many people wanted to buy $MEDIA and $MER tokens, and there were only so many that they could only get a portion of what they desired.
On Crypto Twitter, this sparked a lot of FOMO and buzz. If you’re a new project, establishing a yield farming pool on a high-profile platform like Raydium can help generate interest in your token.
3) Hackathons
You’ll need engineers to build with your code whether you’re building a layer 1 blockchain, an Ethereum L2 solution, or blockchain infrastructure like an oracle.
The decentralized applications (dApps) that operate on the Ethereum network are one of the reasons why it is the world’s most popular smart contract platform, despite its cost, performance, and scalability issues.
Aave, Compound, and Uniswap are examples of Ethereum ecosystem projects that add significant value to the underlying blockchain and Ethereum infrastructure providers.
Hackathons with large prize pools are a great way for blockchain developers to create with your tools, raise brand recognition in new geographic areas, and add value to your project.
Hackathons offer participants prize money and the possibility to gain expertise and develop industry connections. Successful participants have the chance to win startup funding after the Hackathon is over.
Example: Solana
Over 1,000 people registered for Solana’s first Hackathon in November 2020.
Solana’s Defi hackathon collaborated with Serum, a decentralized central limit order book (i.e., a decentralized Nasdaq). It drew 3,000 participants and awarded $400,000 in prizes.
Solana SZN, their third Hackathon, which finished in June 2021, drew over 10,000 participants from six continents and was awarded $1 million in awards.
Solana now boasts a rapidly increasing network of Rust developers producing DeFi protocols, blockchain tools, infrastructure projects, dashboards, and more. As a result, the Solana ecosystem has evolved into a legitimate challenger to Ethereum in just seven months.
Conclusion
Developing blockchain marketing strategies requires you to be savvy. This is especially true when competing with established financial institutions like correspondent banks with a decentralized alternative. You can learn a lot from the marketing tactics of community-driven crypto firms, whether you’re a crypto marketing agency, a blockchain startup, or working in the traditional marketing industry.
Pressfarm’s PR services can help you get featured in the press. This is important if you are trying to build a credible and successful ICO.
You can make your mark in the crypto industry with a professional press release, engaging guest posts, and an eye-catching media kit. In addition to creating content specifically tailored to the crypto industry, the team at Pressfarm can help you put it in front of the right audience. By submitting your content to the right media outlets and startup directories, Pressfarm can boost your online visibility. This distribution method ensures your brand ranks in relevant search results across different search engines.
Finally, as a client, you get custom media lists. Together with a media database of 1 million+ journalists, bloggers, and influencers, these media lists are designed to help you do effective targeted media outreach.
With a PR package from Pressfarm, you can boost the credibility of your crypto brand.
