Undoubtedly, the rate of blockchain adoption that a project gets depends a lot on early adopters. In fact, early adopters are vital to the success and sustainability of your blockchain venture. Without the help of these pioneers, it’s hard to tell how far a new project will go. It’s thanks to their support that new technology makes it to the mainstream. They are behind the origin stories, early case findings, and most importantly the start of brand awareness through word-of-mouth.
On that note, if you’re launching a new crypto project and blockchain adoption is one of your priorities, you need to learn how to reach these early adopters. If you want your project to have a great start, you need their support. In order to get them on board, you must first learn their ways. How do they invest in new projects or technology? How does their adoption lifecycle work?
Oftentimes, the blockchain adoption cycle comprises five categories:
- Early adopters
- Early Majority
- Late Majority
- The Laggards
Early adopters and innovators tend to worry less about the risks involved in the investment. Instead, their focus is on the potential the investment holds. Therefore, you must ensure that your project reveals its full potential before contacting these two. On the other hand, the early majority comprises conventional investors who are open to ideas.
The late majority are risk-averse. Of course, they are open to ideas, but they will only invest in those that have proven to be feasible. Moreover, they will only invest after scrutinizing these investments thoroughly. Finally, the laggards are the last people to arrive at the blockchain adoption party. They will only consider your investment because they’ve got no alternatives or they are compelled to invest.
Blockchain technology started as an idea from innovators. They would discuss it on forums to spread the word about it. Shortly after, the early adopters joined. They saw an investment opportunity with good potential and couldn’t care less about its risks.
Even after years of existence, some experts still argue that blockchain technology is in the Early Adopters phase. However, many countries now recognize blockchain currencies like bitcoin as legal tender. There’s an even stronger argument that Bitcoin is in the Early Majority Phase. Its doors are open to the Late Majority and the mainstream audiences are now streaming in. In other words, it’s now being adopted widely.
Who is an Early Adopter? Do you need them to speed up blockchain adoption?
An early adapter is a company or an individual searching for ways to diversify their investment. Some of them simply invest in a project they favor or boost their competitive edge. Early adopters are essential to blockchain startups or NFT projects that need support to access funding.
Besides funding, they will help you with product testing. They will even go beyond that to provide constructive feedback. Thanks to your early adopters, you will even have materials for early case studies. Early adopters are also valuable when you need credible testimonies and reviews as a form of social proof. With them on board, you will be setting up the stage for the Early Majority. In this way, you can speed up the blockchain adoption cycle of your project.
Innovators and early adaptors have unique motivations and expectations from others. Besides seeking investment opportunities with profit potential, they have other motivators in mind. They love seeking and finding solutions to the challenges they are facing. More importantly, they desire to create a community or be part of one.
They get motivated when they see your blockchain-based startup growing. What’s more, they don’t just watch from the sidelines, but they take an active part in the process. They can provide advice since personal credit gives them satisfaction, especially when the project is a success. Unlike other investors, they don’t mind taking risks as long as the project has huge potential. They also understand that when investing, there are chances for both success and failure.
How to get the attention of Early Adopters
Develop a powerful blockchain community
Having a large community supporting your project is a good sign for the Early Adopter. It demonstrates that your project is taking the right course. Beyond that, it’s proof that your project is credible enough to invest in. As you build your community, ensure it comprises active product users.
Reveal immediate value
Early adopters are visionaries when it comes to spotting the right investment opportunities. They will not just consider the current state of a project but its growth potential as well. Even so, you can’t get them on board with empty promises. To get them to invest, you must show them the actual project. You also need to go beyond that and demonstrate the project’s tangible benefits
Develop an organized plan
Prospective investors won’t just invest in any business. Once they identify a project as a potential investment, they will want to learn more about it. That means, they will scrutinize everything about your project before they’re confident enough to invest in it.
If they find your project to be well organized and have a feasible plan, they will invest in it. If that’s not the case, they will decide it’s not worth their money and you will not benefit from blockchain adoption. To avoid this, you should ensure your project team has taken steps to clearly outline the vision of your business.
Target certain individuals and companies
Targeted outreach is more effective than simply reaching out to every investor in the community. This strategy is simple – identify investors who support projects in your niche. Closely examine the type of projects they prefer to invest in. The next time you are unveiling a similar project, reach out to them.
Promote your project
Early Adopters are part of the crypto community. Therefore, if you want to get their attention, you must promote your project. Speaking of which, there are several ways in which you can let the community know about your venture. For instance, you can get it published on news channels through a press release or informative articles.
You can also join community discussions on social channels like Reddit, Twitter, and Discord. Alternatively, you can even take part in events as a sponsor. Paid ads are also effective avenues for reaching prospective investors.
The success of your blockchain venture relies on the type of investors you get on board and the rate of blockchain adoption you can generate. Thus, finding the right people is essential. Groundbreaking blockchain projects like CyrptoKitties, CryptoPunks, and Compound made it thanks to early adopters. These investors were willing to try out new projects and adopt technology without worrying so much about the risk.
If you want your venture to be successful, you’ve got to spend more resources on finding the right investors. Getting their support during the early phases of your project is vital. With their support, you will invest less time trying to garner support for your project. Instead, your project will be on the right course to leverage massive blockchain adoption.
How Pressfarm can help you leverage blockchain adoption
Do you want to build the kind of credibility you need to benefit from blockchain adoption? You should consider partnering with a PR agency that has experience working with other successful projects in this niche.
Pressfarm is a PR agency that has experience working with crypto startups and companies to create newsworthy content that is distributed to media professionals and influencers or published on their owned media channels. The PR specialists, expert writers, and certified designers at Pressfarm can help you create quality content that improves the credibility of your crypto project. By helping you with email pitches, press releases, and guest posts, Pressfarm can help you capture media attention and win your target audience over.
With a winning distribution strategy, the experts at Pressfarm will submit your content to the right startup directories. They will also get you featured on the best media outlets, and professional networks in your niche to boost your brand’s online visibility. This strategy is designed to help you feature in relevant search results across different search engines including Google, Yahoo, and Bing!
As a client, you also get access to custom media lists built by an account executive to help you connect with the best thought leaders and storytellers in your niche. Or perhaps you’d prefer to build your media lists on your own. In this case, you can use Pressfarm’s media database of over 1 million journalists, bloggers, and influencers for a year at no additional charge.