How to Create an Effective Blockchain Marketing Strategy
Competition is fierce in the blockchain industry, especially due to the intense interest and attention that it is receiving. It is a digital industry that continues to grow exponentially, where expenditures on blockchain-powered solutions are estimated to reach almost $12 billion in 2022.
Nevertheless, your blockchain project will need more than a few Google Ads to reach your target market. Here at Blokpoint, we can help you create a marketing strategy that will connect your blockchain business to its target audience.
What is a blockchain marketing strategy, and why does your company need it?
A blockchain marketing strategy is similar to traditional digital marketing since you can also use the same marketing tools, including SEO.
The primary difference is you are promoting blockchain projects to an audience adept at using data-driven information.
Whether you are offering a new crypto product or blockchain services, your potential investors and customers will make extensive studies about your offering before making a purchase.
Since your target market is interested in blockchain technology, generic marketing strategies will not be enough. Instead, you should provide a content experience where readers can obtain the information they are looking for.
You can also take advantage of the platforms that your potential clients and investors use for their research.
This is where your blockchain project will need SEO, and here are the common strategies you can use.
1. Build your web3 community
In Web3, you can turn your community into the cornerstone of your blockchain SEO marketing strategy. Consider the following insights.
Continue using the SEO strategies that still work – In marketing, you adapt rather than rewrite strategies. For instance, sellers have always used persuasive language to convince people to buy their products. In the past, companies posted ads in newspapers, but now, you post ads online. The medium may have changed, but the goals remain the same.
Know your audience – Unless you identify the customers who need your product, you are wasting your time. The challenge is how to identify your ideal customer. At Blokpoint, we build customer avatars based on several factors, such as demographics and their key purchase drivers.
Engage your audience – You need to give your customers a reason to engage with your content instead of the competition. The most common methods you can use include referral programs, Airdrops, and bounty campaigns.
Respect and reward your loyal followers – Giving incentives to those who supported you can boost the popularity of your blockchain project. For instance, you can offer price discounts to early customers or volume buyers.
Do not hide your identity and communicate from the heart – Using an online pseudonym can make the community sceptical about your blockchain project. Dox yourself to show the community that the project is genuine and assure your customers and investors.
You can over-deliver but not over-promise – This is a common phrase you may have heard. It is easy to excite an audience with promises of metaverse or NFT developments. However, their enthusiasm can quickly turn to frustration if you fail to execute it.
2. Write guest posts on trusted sites
How can B2B buyers for your blockchain setup find you? We found out that these clients often search for potential partners by reading articles on popular sites, such as Forbes.
This makes guest posting to authoritative publishers a critical part of your marketing strategy. It helps you create brand awareness and visibility, all while improving your SEO.
3. Even negative press is useful for marketing
You normally want to avoid getting negative news about your blockchain brand since it can discourage potential customers from making a purchase.
Fortunately, you can mitigate the effect. If you address the issue professionally, most customers are willing to overlook negative comments.
4. Do not neglect your reputation management strategies
Reputation is everything in the blockchain industry since you need customers and investors to believe in your product.
It is, therefore, essential to prove your brand credibility on your website and social media platforms. You can start by providing the following information to your target audience.
- Your key people, their position in the organisation and industry experience
- Business credentials and any previous accomplishments
5. Leverage your blockchain content
Besides blog posts and social media promotion, your content creation strategy should include high-level information, such as case studies or white papers.
6. Tone down the technical jargon
Providing technical details of your blockchain projection can inform and convince potential customers and investors. Nevertheless, too much jargon in your content marketing can alienate your target audience.
If someone is investing in your blockchain project for the first time, feeding them with technical jargon is unlikely to convince them. Instead, you should reassure them about your blockchain’s project viability.
Consider creating your educational content with simple language and providing sufficient explanations for important terms.
There are other marketing strategies you can use, such as:
1. Email marketing
Sending Emails is a cost-effective form of marketing. However, there are disadvantages, such as:
People may regard it as spam without even opening it.
There is always a chance that it will not be delivered to the recipient due to technical issues.
2. Influencer marketing
Many brands use influencers in their marketing campaigns. They hope this tactic can reach and attract their target audience. However, you need to take note of the common risks of this marketing tactic.
Working with the wrong influencer can hurt your brand’s reputation and credibility.
It is a short-term strategy but can require substantial resources and time.
3. Affiliate marketing
Businesses, including startups, like affiliate marketing for its low investment costs. The affiliates do not have a fixed salary. Instead, their pay is based on their leads or conversions.
Nevertheless, there are some drawbacks, including:
The chance of failure is high
Irresponsible affiliates may damage your brand’s reputation
4. Public relations campaigns
PR can raise your blockchain project’s profile and improve its reputation. Businesses employ public relations campaigns to enhance their brand’s influence and reach. However, there are also challenges, such as:
You have no direct control over how the media will portray your message, when or where.
Writing a press release and talking to journalists entails time and money, but there is no guarantee of its publication.
It is not easy to quantify the effectiveness of a PR campaign. Whilst you can count the published articles and social media mentions, their impact on your audience is harder to gauge.
Sponsoring events, such as charities or sports, can build positive brand awareness to a wide audience. You could also position your business as an industry expert based on the event or organisation you are sponsoring.
However, there is no guarantee of returns for sponsorships. The individual or organisation may also refuse to abide by your agreements. Furthermore, if they run into controversies or scandals, your company’s reputation can be tarnished by association.
SEO strategies can help your blockchain project obtain the trust and support of your community. Whilst these optimisation techniques require time and effort, they can improve your ability to showcase your blockchain product or services to a wide audience. Combine these strategies to build your company’s reputation within your target audience and industry.
These SEO tactics require significant effort and experience. If your blockchain project needs help in the planning and implementation of these strategies, you can reach out to us at Blokpoint. Do not hesitate to contact us to talk about your SEO campaigns.
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