Crypto Marketing 101: Your web3 project success is probably hiding here

 

Table of Contents

• Introduction
• What Is Crypto Marketing?
• Why Do You Need Crypto Marketing?
• What Are Examples Of Crypto Marketing Strategy And Crypto Marketing Methods?
• Examples of ICO Tools For Crypto Marketing
• Final Thoughts

 

Introduction

Maybe you have noticed that a lot of crypto projects rise and fall unpredictably. I believe one of the reasons for this is the fact that they don’t have a strategy for their crypto marketing. Some of them know how to create hype, but this is not sustainable and using only this marketing tactic causes them to disappear pretty fast.

Most failing blockchain founders treat their crypto projects as part-time work that may become their full-time job eventually. This is the reason why most of those that fail don’t understand the importance of building a brand.

If you don’t want to be like them, one of the most important things to do is to try and build a brand. The best way would be to try to create a real sustainable business. Otherwise, when the hype is gone, you will disappear with it. I don’t want to scare you, but this is the painful truth, check the history!

One of the things that you can do in order to think like a blockchain brand owner is to create your crypto marketing strategy. And in this article, I will try to show you why this activity, though often boring, can help you tremendously and make your marketing life easier.

What is Crypto Marketing?

Let me start with one misconception – advertising is not equal to marketing (please, remember this)! Actually, advertising is just one part of marketing, called promotion. The marketing efforts should start with the offer that you want to show to the world. But if you want even higher chances of becoming mainstream your marketing efforts should start with the development of your product (blockchain solution/token).

The reality is that the successful promotion of a bad product or a bad offer is a very hard or close to impossible task in any market. My experience has shown me repeatedly that a product that solves a problem and/or gives a newer, better, or cheaper solution, can be sold with less effort and marketing expenses.

This is only true if the offer of the product/blockchain solution is structured in a proper way. Before discussing this further, let’s define an “offer”

An offer is the presentation of your product/token features and works with the other elements in a way that can stimulate the viewer/visitor to make the purchase.

Crypto Marketing Tips For Business Growth

Structuring your offer in the right way means presenting the product/blockchain solution through your offer in a way so your clients/investors have the feeling that this is a no-brainer purchase and the next logical step in solving their problem. This is very important because this is your first impression with the client/investor. If it is a positive impression, then you are at a very good starting point.

And after that, if your product/token really delivers what it has promised to, then you will have a more than satisfied customer—and there is a chance you to have won a brand ambassador. Our goal for with our product, offer, and marketing efforts is to increase the chance for our clients or customers to become our brand ambassadors.

In the other scenario where you have a great product/blockchain solution that delivers and people buy it not because you have a great offer, but just because someone has pushed it down their throats or just because they don’t have another option, then the moment they see a cheaper or better alternative you will be in trouble.

They will probably try to sell for a profit or just sell and leave. And if your product doesn’t deliver on its promises, then it will not only sell ASAP but they will probably find a way to tell the world about their negative experience which can be disastrous for your business.

This is how important it is today to start with the best possible and positive first impression. It wasn’t like that before, but now consumers are much more sophisticated buyers/investors in their buying behavior, much more demanding with a trembling finger on the sell trigger (thank you Amazon). So, if you don’t adapt then you have a lesser chance of surviving.

This is an article about crypto marketing, so how this is connected to it?

Is This Related?

There are a few reasons why I wanted to first introduce you to the importance of the product and the offer concept The main one is that it can clearly show you why you might be currently wasting your money on advertising when your product or your offer is not good (possibly, one of them or both even suck).

What I am trying to say is that if things are not going in the direction that you want, the problem is probably not the advertising, but the marketing—advertising is not marketing! Based on my experience, I am sure that all crypto marketing experts will agree with me on this one. You are probably doing great advertising, and that’s why you should check your product and offer before blaming your ads.

If you are in this situation, it is good to take a step back and conduct deep research on the offer first (if you have hired a crypto marketing agency you should do the process together with them). Analyze the way that you have structured your page. Maybe something is missing or there are parts that need to be removed. I recommend using a tool like Hotjar to analyze the behavior of your visitors and make assumptions based on what you see and optimize after that.

Honestly, it would be best if you go one step further back and analyze your product too. It is definitely true that in crypto the number of purchases depends on the current market sentiment – whether it is a bear or a bull market. But if you can offer a solution (token) to a problem that people need to solve immediately then the market will not have such a high impact on the number of holders that you have.

Of course, if you are a meme project you are very much dependent on the market situation, but these types of projects rarely deliver any solutions, based on my experience.

What I have seen is that most investors buy them in the hope of becoming millionaires overnight or in a very short amount of time. And when markets start to go down, most “investors” start selling their tokens because the chance of becoming a millionaire is slipping away. This is an example of a negative result when a product that doesn’t deliver on its promises, in our this becoming a millionaire.

With that said, the target of this article are crypto projects that have something to offer real value, not empty promises.

The other reason why I wanted to start with the product-offer concept is that if you are still building your product or offer, you should spend more time researching, thinking, and preparing both (and maybe contact me to help you with that  ). Otherwise, you may be in a bad situation later when there is a good number of competitors that can conquer the market while you are trying to rebuild everything from scratch. So, my suggestion for you is to be sure that you are solving the problem in a new, unique, better, faster, easier way before moving to the next part, which is preparing your offer.

I will prepare a new article about how to prepare your offer but for now keep in mind that the goal of your offer is to make it a no-brainer, exciting, and next logical step in the journey to find the solution to the problem for your potential investors.

And the third reason why I have started with this concept is the agencies. When you are going to a “marketing agency” keep in mind that they are likely an advertising or PR agency, not a marketing agency. They can probably give you the best available advertising, promise you the world, and create a buzz and hype around your project which is great and important, but without the great first impression, you will be very quickly replaced with another project and your tokens will be sold as soon as possible

Maybe this is what you want, which is okay, but if you want long-term growth and bigger profits, you need crypto brand ambassadors. And if this is the case, then make a serious audit of your product (if this is possible) and your offer and make the needed adjustments before increasing your advertising budget. Or maybe stop for a while and make the needed changes (especially now when there is such uncertainty in the market).

We are still early, so you have time to fix the issues. Going back a few steps doesn’t mean leaving the battle, it means preparation for a very big jump!

Why do you need Crypto Marketing?

Reason 1 –  You Know Who Is Your Target

Have you seen those websites that try to sell their blockchain solution to everyone? Those that are trying to convince everyone that they can benefit from their product? I have seen many of these websites. The problem with them is that:

“If you are trying to sell to everyone, you are talking to no one.”

The other common problem that I have seen are websites that are hard to understand their targeted clients. Now, I hope that you understand why projects that have websites that are in one of these two categories fail after the hype is over.

In order to save your crypto business from that fate, make sure that you know everything possible about your dream client or buyer persona. You should spend time researching and finding answers like:

– What is his/her demographic?

– Is my dream client a man or woman?

– What does he/she work?

– What are his/her hobbies?

– What are his/her interests?

– What are his/her favorite movies, radio shows, newspapers, and things like that?

– What are his/her main roadblocks in life or in business (depending on if you are a B2C or B2B crypto project)?

– What does he/she value in products/solutions like yours?

– What does he/she like and dislike about your competitor’s blockchain solution?

– What are his/her dreams?

– What are the fears, needs, and desires of your dream customer?

The more information you can find and prepare about your dream customer, the easier it will be when you are working on your marketing strategy and plan. 

Where can you find this information?

The best source of information would be to talk with your customers/investors or, even better, also try to talk with your competitor’s customers/investors. Additionally, if you don’t have customers or an option to talk with the customers of your competitors, you should check forums, newsletters, media, Google, Amazon, and everywhere online and offline where you believe your dream customer is hanging or where they have left some clues about themselves.

Reason 2 – You Can Create A More Effective Website And Offer

After having a clear understanding of who your dream customer is, knowing what you are offering and all questions they may have will give you a solid competitive advantage. The truth is that when you have your marketing strategy ready, you can easily prepare the structure of your website and offer by including things that are important to your target customer. Not only that, but you will also know how to speak to them, and this is really, really important.

Next time when your target customer lands on your crypto project webpage, they will feel like you know and understand them. This makes your job of building trust and selling much faster and easier.

This is the whole idea of creating effective websites – to know what and how to talk to your target customer so they can feel safe and do business with you. But without having all the information about your dream guy or gal, your crypto webpage will have a hard time achieving that.

Reason 3 – More Effective Advertising

The goal of advertising is to get you traffic, but also to presell your offer. If you have a marketing strategy for your crypto project, you will need to know some important things:

– Where should you advertise?

– Why should you advertise there?

– What is your budget?

– What are your goals?

– How Should you talk to those that see the ad so you can grab the attention of the right audience?

– How can you be congruent with your brand identity and promote it in a positive way?

By having all this information, you will not only save money, but you will achieve much more at a lower cost. This information will also help you know if you are on track with your goals because it is your guiding star – your crypto marketing strategy.

Reason 4 – You Have A Higher Chance To Beat The Competition

When you have a marketing strategy, you know what the battlefield looks like and what you can offer to win the battle. You know what your competitors have that you don’t, but you are also familiar with what your competitors lack that you can provide.

You will also know what their issues are and how you can use them to your advantage. Additionally, you will know what their best marketing tactics are, so you can mimic them, and make your marketing even better.

Finally, having all the good and the bad about your competitors can give you ideas on how to create your blue ocean and leave the red ocean.

Reason 5 – You Have Something To Aim For And Measure

One of the problems of not having goals and KPIs is that you don’t know your direction, so you can’t measure success or failure. When you are preparing your crypto marketing strategy, one of the most important things that you need to do is to set clear and well-defined goals and measurable KPIs that will help you to fulfill your mission and vision.

Having goals and measurable KPIs gives you the opportunity to change tactics quickly. If they don’t deliver or help you achieve your goal or KPIs, just stop them and test another one.

Finally, without goals of KPIs, you will not know if you are moving toward, away from, or even not moving at all towards your goal. In all cases, some information about your position will help you better navigate your ship and finally reach your destination.

Important Things That You Need In Your Crypto Marketing Strategy If You Want To Succeed

You have an idea for your first or next crypto project. That’s great, but you need a plan on how to introduce and sell it to the world. This means that you need to prepare your crypto marketing strategy.

Your strategy should have important details about your blockchain product and its competition. In this article, I will include things that may have a huge impact on your marketing efforts. So, let’s begin:

Your Effective Crypto Marketing Strategy – Problem And Solution

You are ready to change the world with your idea! Now, your first task is to figure out if it solves a problem. If it doesn’t, please reconsider your plans.

Let’s say that your idea gives a solution to a problem that investors have. Then your next step is to explain it on a piece of digital paper in a very descriptive way. Write an explanation of the issue that you are going to solve in a way that every person can understand with ease.

That’s why you should avoid technical terms, but rather use simple words and sentences. This is highly beneficial for the next steps in your marketing strategy, and it will help you have more clarity about your crypto business.

Now that you have your problem explained in full detail, it is time to state the solution. You should follow the same path and write it down in a very simple way to understand how you plan to solve the problem.

The third and final task from this step is to figure out two important things:

– What are the benefits of your idea for the potential customers/investors?

– How can your idea make your customer’s/investors’ life better?

When you figure out the answers, make sure to write them down too.

Your Effective Crypto Marketing Strategy – Goals And KPIs

I would say that without step one, you have no chance to have effective crypto marketing. But because you are going to do it, you will be in a better position than most. Now you can move to the second crucial step which is setting your goals and KPIs. At this stage of your preparation, you need to figure out the answers to these important questions:

– What do you want to achieve with your crypto project? What’s your dream for it? How high do you want to go with it? What’s the end goal of your crypto project?

– What are the most important metrics that can show you if you are moving in the right direction to help you reach your end goal? (For example, number of Discord or Telegram members, followers on Twitter, holders’ amount, and so on)

Based on this you should prepare a list with KPIs and goals. The best would be to split them into:

– Weekly goals and KPIs

– Monthly goals and KPIs

– 3, 6, and 12-month goals and KPIs

I think that this is a great start, but if you want to have a perfect strategy, then you should also prepare your 3, 5, and 10-year goals and KPIs. This may sound like a too-long of a period and too rigid of a plan, but what I have learned from all the projects that I have consulted on in web 2.0 and web 3.0 is that these goals and KPIs should be flexible.

The reason for this is because when you start, no matter how hard you try, you possess a limited amount of information. Only after you start the actual marketing process and all the pieces of your business start to work together will you get information that only experience can give you.

That’s why it is really important to evaluate your goals and KPIs every month or every 3 months to make sure they are realistic. In all cases you should aim for something in the middle – a little over your blockchain business boundaries of achievable, so you can always grow. You should also check if the goals and KPIs really have the impact that you are looking for on your crypto business.

Your Effective Crypto Marketing Strategy – Target Audience

You know what you are selling, but you need to also know to whom you are selling. This is enormously important and can save you thousands or even millions if done right. Now that you have your problem and solution in front of you, it’s time to find who needs this. In order to find this answer I would suggest you use tools like:

– Google

– Quora

– Forums

– Discord & Telegram

You also need as much information as possible. Maybe you will discover part of it when you start, but if there is a way to get it before that, try to get it. Based on what you have, create a profile with your target audience characteristics.

You should also make sure that you are not making one of the most common mistakes: having a profile in which everyone can fit in. You need to be specific; you need to niche down your target market. This way you have a higher chance of reaching it.

Your Effective Crypto Marketing Strategy – Competitiology (The Science About Competitors)

There isn’t such a science or word, but you should approach it very seriously. Having knowledge about your competitors can help you tremendously in many aspects. Let me list some of them:

– You will know who they are so you can keep an eye on them

– YYou will know what their offer is so you can model and improve yours

– You will know what they are lacking so you can give it or offer a better solution

– You will know what their customers like and don’t like about their crypto product so you can be better

– You will know where they advertise so you can do the same if your target market is the same

– You will know what they are lacking so you can give it or offer a better solution

Your Effective Crypto Marketing Strategy – Community Marketing

Without community marketing, it is impossible to succeed with a crypto project. Since crypto is a relatively new concept, you must create a committed community to support your project.

Prior to starting your project, you must build a network of potential customers.

The practice of community marketing requires effort and time. But it will be worthwhile if you engage your audience and provide them with something of value.

Your Effective Crypto Marketing Strategy – Social Media Marketing

Social media for cryptocurrency marketing has a huge worldwide user base that may help your project. You want as many chances as possible to establish a solid web presence, establish reputation, and advertise your cryptocurrency enterprise. Additionally, social media marketing enables this.

However, not all social media sites could be effective for your crypto marketing plan. Think about the platforms that will best serve your audience.

Because marketers and companies think Twitter influencers have greater clout in crypto marketing, Twitter is a popular choice.

Your Effective Crypto Marketing Strategy – Using Influencer Marketing

From the previous strategy, it is established that social media is a good marketing platform. This means that seeking help from crypto influencers with definitely provide a great platform for your project in reaching more audiences. 

With that said, here is a list of Crypto TikTok Influencers that we ranked in terms of followers.

Your Effective Crypto Marketing Strategy – A Good Home Page

Users won’t likely remain around if your webpage is not pleasing to the eye, regardless of whether you’re designing a crypto exchange, wallet, or DeFi protocol. New users can understand the process from start to finish thanks to a simple and understandable design.

Here is our article on How To Design An Effective Home Page. Read up on it and it might help you.

Your Effective Crypto Marketing Strategy – Get Listed on CMC or CoinGecko

Nowadays, it is essential for crypto projects to get their tokens listed in these two websites. Not only that it will help people get the idea that you are a legitimate project, but it will also help new investors find you easily. To get everything you need to know in getting listed on CMC and CoinGecko, you can check out our articles.

Final Thoughts

As you can see there are many things that you should know about your competitors. Use these bullet points when you are doing your research about them. Having the information about these things can help you to refine your marketing information, strategy, plan, and tactics. 

I would suggest you start writing a list that consists of all of them. And if you don’t have direct crypto competitors, look for indirect ones. If you don’t have indirect competitors check for businesses from the web 2.0 world that are doing the same or similar thing as you but for web 2.0 customers or businesses.

Starting with these 4 things can give you a huge marketing advantage, so spend some time preparing the needed information. It may be hard and time-consuming, but the ROI is massive. Till then, if you need some guidance or feedback on all that you have, book a free consultation with me, I would be happy to help you!