Quick Guide To Blockchain Marketing In 2021
The main idea with blockchain marketing is to generate buzz, excitement, and brand awareness for your blockchain project, cementing yourself as an authority in the sector whilst you build your project from the ground up.
One of the more challenging aspects of blockchain marketing is that companies normally have a very small amount of time in which to generate that buzz that they desperately need, sometimes even just a matter of months, which coincides with the period of their fundraisers.
Thankfully, by looking at what you shouldn’t do during a campaign, what you should do will always have a little more clarity. To get the most out of your campaign, you need to focus your precious resources and time on the areas that matter most.
Using Social Media In Your Blockchain Marketing
Since the advent of the first few social media platforms, more than a decade ago now, hundreds of these platforms have sprung up around the globe and you would be forgiven for barely knowing any of them.
It is a common mistake for companies to believe that they should put out content on as many platforms as possible, to the point of sacrificing quality by dividing their time. Unfortunately, you need to be unique on all of your marketing channels and this strategy does not achieve this.
I’ve used a number of these platforms in my time and I would recommend the below for sure.
- Quora
- BitcoinTalk
With this in mind, we’ll also be going through the best ways to get success out of these platforms.
- Over 1 Million members of the cryptocurrency subreddit.
- Dozens more active cryptocurrency-related forums.
- Massive monthly page views.
- Potential to drive massive traffic to your project.
- Become active, answering questions and posing them to become reputable.
Quora
- The most prominent question and answer platform in the blockchain space.
- Ranked 1st on Google for over 300,000 results.
- You should answer high-ranking questions using your project.
- You need a more formal tone of voice (but not boring)!
- A more B2B specific platform than the others.
- Share project updates with your community.
- Partner up with influencers and other businesses in your sector.
BitcoinTalk
- The first Bitcoin forum, launched by Satoshi Nakomoto
- Previously a juggernaut of the crypto community.
- Lost some of its shine and userbase over the years, but still remains a great option.
- Use the forums to highlight your company to the community.
- Read the guidelines before posting.
How Much Does It Cost To Do Blockchain Marketing?
Like with many different things, the cost of a blockchain marketing campaign will vary based on a number of different factors. In 2018, a blockchain marketing campaign could cost up to five times as much as a traditional digital marketing campaign. This is absurd.
I’ve found that quite a few marketing companies will suggest a massive budget for the client, even as big as $50,000 per month in some cases. This is not always necessary and the worst part is that sometimes these campaigns don’t bring any returns at all, because the marketers haven’t been specific to their client’s needs.
I’ve found that the fair average for a campaign is between $5,000-$20,000 per month, but this can rise to $80,000 depending on the needs of the client, with targets needing to be met. Ask yourself how little you can spend to reach your goals each month, you want to spread your campaign out for as long as possible to get the maximum potential awareness.
Your budget should also be dynamic, increasing during important times, ie. fundraising.
What Metrics Should You Use For Your Blockchain Marketing
Any business that is serious about its own reputation and success should make use of measurable metrics, or Key Performance Indicators (KPIs) to ensure that growth is sustainable. These KPIs will also allow you to measure what is working within your campaigns and what isn’t working.
Three of the main KPIs for blockchain marketing can be found below.
Brand Awareness
When your company begins growing, you’re going to need to begin to aspire to become recognizable as a market leader within your market segment, and even further. Brand awareness is about how other people view your company, your goals, and even your team.
(Youtube)
Even if someone recognizes your logo, they may not buy your services. The key to brand awareness though is being so notable that people can identify you with a mere glance. This can be achieved by having your company achieve positive mentions in a number of outlets on a consistent basis.
By focusing on the importance of brand awareness, your company can be a juggernaut for years to come. Google Alerts can be used to measure brand awareness, as it highlights how often your company is mentioned online.
SEO
It’s quite shocking that most blockchain companies do not particularly care about, or make use of Search Engine Optimization. Overall, SEO itself is about understanding what both your audience and Google like in terms of content.
Not every penny that you spend improving your SEO will show a return immediately, in fact, these benefits may trickle in over the months. In fact, getting backlinks and improving your SEO ranking can take a very long time, which makes it important that you start your SEO improvements at the start of your project’s lifecycle.
To track your SEO efforts, you can use Google Search Console.
Traffic
Traffic is something that should be the cumulation of all of your marketing efforts. High-levels of traffic can help to improve both your SEO placement and your overall brand awareness by having more people view your content and your brand overall.
Traffic to your project website should be segmented towards your target audience, this is because, with the right volume of traffic and the right quality of traffic, you should be able to succeed in every avenue that your company aims to. Getting good quality traffic is assisted by SEO.
To measure traffic, you can use a number of different tools, including Google Analytics.
Best Practices For Your Campaigns
Over the years, I have seen the same mistakes being made by so many blockchain projects and these mistakes almost always lead to failure, or an inability to scale up the project in the way it deserves. Simply having a great idea is not enough in the modern-day.
Make Use of SEO
As previously mentioned, you should definitely focus on SEO from the start of your company, so that you can reap the rewards as soon as possible. It takes a long time for content to eventually crawl onto the first page of Google, and to maximize your chances of success, you should start writing content and blog posts long before you plan to launch your fundraising operations.
Create a Community
As we previously discussed, there’s a number of online cryptocurrency communities on different platforms. To maximize your effectiveness on each platform, you should tailor your tone of voice to fit that specific community. For example, using the same tone of voice on Reddit and LinkedIn will most likely spell disaster for your project.
You also need to think about which community is most ideal for the activity that you’re doing, for example, if you want to connect with other business leaders, then LinkedIn would be the ideal platform for this. Alternatively, if you’re looking to get community feedback on your project, then I would recommend using Reddit to do this.
If you do have the resources to be on all of the platforms at once, then do it, but if you don’t, you need to consider when and where you should be putting your content, each time you post.
Never Buy a Community
It is becoming so common now for blockchain companies to fake their communities on different platforms, paying for fake followers to try and improve their standing and first impressions. Unfortunately, one of the reasons that you should never do this is that it is painfully obvious when you do.
If you have a community of 50,000 people, but the only people liking your content are you and your own employees, then people are going to know pretty quickly that you’re faking it and they’re going to see you as inauthentic and fake.
A small and active community is so much more valuable than a static, fake community.
Conclusion
Running a blockchain marketing campaign can be a lot more difficult than running a traditional marketing campaign, but with the right budget allocation, knowledge, and best practices, you’ll be able to make