The blockchain industry and related technologies are projected to grow by 85.9% in 2030. Over 10% of the global population already use blockchain and crypto in their everyday lives, and more than half are ready to see how it will transform the world.
Where does marketing come into this?
Blockchain marketing is an exciting challenge, a new opportunity, and an approach for growth – definitions vary from project to project. However, one thing remains true – blockchain marketing is a tool both for blockchain projects and by blockchain projects. Here’s how to make it work for you and create a successful blockchain marketing strategy.
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Before diving into the specifics, let’s establish what blockchain marketing is. When we talk about blockchain marketing, we can refer to a lot of different definitions. In the most direct sense of the word, blockchain marketing is a new and revolutionary tool used for better management of ad data, deeper insights into audience behavior with advertisements, and generating a more authentic and smooth audience interaction.
Using decentralized ledger technology, blockchain advertising and marketing allow professionals to be more cost-effective, transparent, and efficient with novel data aggregation and analysis approaches.
It’s a direct counterpart and solution to modern issues in advertising and the Web2 marketing funnel, where big tech companies and platforms gather a lot of information on the users and utilize it to run targeted ads and promotional campaigns. Although effective to an extent, it makes customer and user data vulnerable to breaches and leaks.
In addition to more security, blockchain marketing also allows businesses to be more transparent and less invasive in their strategies and tactics. Overall, from this perspective, blockchain marketing is a wholly new way to advertise and engage with audiences online via blockchain technology.
However, we also live in a world where blockchain is no longer a niche industry with insider knowledge and exclusive, closed-off groups of people developing next-generation solutions behind the scenes. It is starting to become more popularized, with blockchain technology setting out to solve many issues of the modern Internet, business, banking, social media, and more. Blockchain marketing, coincidentally, is one of the applications described above.
Blockchain technology and its solutions are growing in popularity and, more importantly, use cases. But how do regular consumers, investors, or even the ever-expanding blockchain community interact, learn, and engage with new businesses? That’s where another definition of blockchain marketing comes in.
Blockchain marketing, from this perspective, becomes a tool for emerging blockchain-based projects to market themselves and find their audience. Just like any industry, especially with such a technical component involved, it has as much potential as specifics.
From blockchain advertising to blockchain PR to digital marketing – there are established and ever-changing do’s and don’ts, explored and constantly experimented with by blockchain marketing companies.
As an emerging field, blockchain marketing is a challenging endeavor to get into and succeed in, for startups and established businesses alike. It is customary for entrepreneurs and their teams to focus on the revolutionary tech behind the solution. However, that means that key aspects of the business, like marketing and public relations, suffer and don’t get enough attention.
With over seven years in tech and Web3 marketing and over 250 successful clients, LKI Consulting is a go-to blockchain PR agency. We know exactly what to invest time and resources into when it comes to blockchain marketing and advertising, and in this article, we will go over the key aspects of a successful blockchain marketing strategy and how to get there.
Fortunately or unfortunately, there is no universal formula for a successful blockchain marketing strategy. On one side, it gives you a lot of opportunities to market yourself differently from your competitors. From another perspective, it’s overwhelming and time-consuming, and you might not even know where to start.
When it comes to blockchain projects, there is a number of specific aspects of your strategy that you want to pay special attention to. For some, it might be because tactics differ a lot from your regular marketing approach, for others – because it takes on a different turn, with an added layer of complexity or specifics.
We narrow this list down to these main areas:
If you want to get your product or service to the target market fast, attract new followers, or broaden your horizons, advertising might be the first strategy that comes to mind. Although advertising does work for blockchain projects and tech, there are important considerations and best practices to follow.
The whole idea of blockchain digital marketing and blockchain advertising in particular is to bring more transparency and respect to user data. It would be contradictory to use a regular advertising approach to spread the word about solutions that intend to replace it altogether.
Thus, the usual rule of thumb is to focus on more organic, less invasive promotion. Think about adding value to your audience via exclusive deals, educational content, or interactive experiences. The more effort and added value you provide in your advertising campaigns, the more return on investment you’ll see, primarily in the form of devoted followers.
When it comes to blockchain PR, the best advice is to know your audience. Just like in any industry, there are specific reputable publications and media outlets that would fit your blockchain niche better than others, both from a subject matter and audience perspective.
The same goes for the tone of voice and the style of delivery of exciting announcements, company news, and other types of content you want to promote. There are unspoken rules and particular guidelines that should be followed for a successful campaign. Naturally, they might be difficult to navigate for people who are new to the industry or try a new spin on their blockchain PR.
Here, it is essential to do thorough research and create a strategy that would represent your project best. However, it might be difficult to push your campaigns, especially without press contacts and industry knowledge.
Thus, alternatively, you can contact an experienced blockchain PR agency that can help both with strategizing for your public relations and connecting your project with the best publications and media. That way, you avoid the trial-and-error approach and save time.
Community marketing is another major strategy for blockchain projects to engage an audience in an active, non-intrusive conversation. Unlike advertising, which we covered above, community marketing takes engagement with prospective customers and the idea of organic interaction with your target audience to the next level.
There are many reasons why it is so effective in blockchain marketing specifically: one of them being that the industry has one of the strongest communities and relies heavily on relationships, reputation, and word of mouth.
Inserting your brand or thought leaders into authentic blockchain conversations is one of the best ways to see what people are saying about you, guide the narrative, and organically promote yourself and your brand without being invasive. That way, people have more trust in your brand.
Another question that might arise is how to incorporate blockchain community marketing into your strategy. Start with Discord servers and Telegram channels on relevant topics, then search for closed communities, groups, and chats.
Alternatively, invest in a separate campaign and create a safe and encouraging space for community members to interact with each other; it can be an informal event, a forum, or anything else that aligns with your values and vision. The key, however, is to let people express themselves freely and contribute to their conversations like people, not brands, while still standing firmly for your beliefs and mission.
Perhaps, investing in community marketing is time-consuming or not cost-effective, or you are struggling to find a niche community that will match your values and mission. You might be searching for an exciting collaboration and ambassadors for your brand. In that case, you might turn to blockchain influencers.
Also known as Key Opinion Leaders, or KOLs, they largely guide community discussions and are considered reputable sources of information and opinion on blockchain topics.
Our advice would be to not start collaborating with big celebrities in the space just yet. Instead, choose blockchain influencers with a more narrow audience and focus, so there will be a higher chance their tight-knit community of fans will resonate with your product or service and find it engaging.
When you go for lesser-known but more niche blockchain influencers, you also have the opportunity to interact with their audience in a more meaningful and impactful way – say, you run a discussion post and simply have more time and resources to respond to more people, instead of focusing on a few replies from a pool of thousands. By approaching it in a more personalized way, your target audience sees you care about them and their opinions.
Another key aspect of a blockchain influencers strategy is to make sure that the influencers you choose for your collaborations are the ones that believe or at least align with your mission and values.
KOLs are more authentic and are therefore scrutinized more by their community – it doesn’t simply work to have a low-effort campaign with product placement and expect good results. Invest time into more organic campaigns that encourage participation from followers. And, of course, always add more value for them, either educational, monetary, exclusive, or something completely unique to you.
A blockchain marketing agency is a dedicated helper in all things connected to blockchain RR, advertising, communication, and more. This is an ideal solution for many teams and blockchain projects because you can get on-demand digital marketing and PR advice, strategy, or execution which is completely tailored to your needs.
For example, businesses or start-ups who need a head start for entering the blockchain market can partner with a blockchain PR agency and work together and develop the best way to launch a product or service into the market. That way, you can focus on what matters most, while PR professionals tackle what they already know how to do – translate your tech solutions into recognizable ideas, messages, and campaigns.
Instead of experimenting with blockchain marketing and seeing what works and what doesn’t, you can collaborate with seasoned professionals and learn from their know-how without compromising the quality of your launch. You only get one after all!
Another type of team that might benefit from working with a blockchain marketing agency is an existing project with an in-house marketing team that needs a little help. For example, you might have mastered your social media, but need a boost when it comes to your blockchain advertising or you want to venture into the unknown of community marketing, the world of blockchain influencers, or something else.
It is impossible to have all the professionals that specialize in every single avenue of blockchain digital marketing onboard. That’s when partnerships with blockchain marketing companies come in handy: you can benefit from the one-time campaign or work together in the long term for more impactful campaigns.
At LKI Consulting, a London-based PR agency, we help emerging blockchain, Web3, and B2B projects scale, reach new audiences, and amplify their marketing. Having worked with over 200 businesses and reached 5x ROI on marketing budget, we know exactly what you need for a successful blockchain marketing strategy and its execution. Need a helping hand in blockchain marketing or want to partner for long-term success? Tell us more about your needs.
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