How High-profile Projects Successfully Ignite Market Enthusiasm During a Bear Run

The entire cryptocurrency industry is now in a state of backwater, and while there are occasionally some popular apps popping up, the scenes of multiple projects competing for the limelight during the DeFi Summer of 2018 or the boom of NFT and GameFi in 2021 are long gone.

However, there are still some projects that can make a splash in this bear market of low sentiment, so how do they make it?

Marketing: 7Ps theory

From the perspective of marketing, the successful launch of a product requires comprehensive consideration of seven elements: Product, Price, Promotion, Place, People, Process and Physical Evidence. This is also known as the comprehensive marketing model: 7Ps.

Specifically, the first four elements focus on the early stage of marketing and the product, which is the basis of product marketing; The latter three elements are more focused on the product service, which is the basis of service marketing.

This article will take product marketing as a starting point and explore how high-profile projects successfully ignite market enthusiasm and arouse user interest in a bear market.

Product: Friend.tech that lets users see value and potential revenue

When the market fell into a deep bear mood, Friend Tech entered the market with bright results on August 10. As of the time of writing, Friend.tech traded more than 50,000 ETH.

How did Friend.tech get noticed:

On the one hand, many fans want to talk to celebrities on social media platforms, but they rarely get responses through mainstream platforms such as Twitter and Facebook. Friend.tech noticed this and invited KOLs onto the platform, offering users the opportunity to have a dialogue with KOLs. In addition, KOLs that have joined the platform will also do their best to promote their accounts to increase their influence.

On the other hand, the most common feedback from the community is: How is this account?

At Friend.tech, the influence is directly reflected on price. For buyers, after owning shares of A, if many people on the platform want to buy shares of A, the price will also change with the rise and fall of A's influence, and buyers can make profits by reselling shares.

Friend.tech enables users to see the value and potential benefits of the product under the concept of "social + finance", so as to attract and gain users, and encourage users to spontaneously publicize and promote products to open the market.

Price: The expectation brought by airdrops

Airdrops are a marketing strategy that can instantly increase the impact of a project. It has become a common me ans for the project to use the value expectation from users to get more exposure.

Not long ago, Sei announced the mainnet online and the rules of airdrop, immediately attracting the focus of many people.

Before the main network was launched, the number of test network addresses of Sei exceeded 1 million. The results of Sei test network stage are bright, although there is still a certain gap compared with the number of independent wallet addresses of zkSync and LayerZero. It is a common way for project to take advantage of user expectations for airdrops to drive project growth, and users buy this way.

After the Sei mainnet was launched, although there was a mixed reaction in the community to the application process and the distribution mode of token airdrop, it is undeniable that Sei mobilized the attention of the entire market at that time, and the turnover of the token exceeded $1.4 billion in 24 hours after the token was launched.

Great Choice for Promotion & Place: Web3 Growth Platform

In the highly competitive cryptocurrency space, project parties spare no effort to develop promotion strategies to attract users. They made great efforts both in the forms and channels of promotion. More and more projects no longer rely solely on their own channels but choose to use the Web3 growth platform to improve the efficiency of promotion and achieve faster growth.

When your product has a compelling narrative or advertisement, you can do more with less by choosing the right forms and channels to promote it.

• HashKey Exchange

On the eve of the project's launch, HashKey chose to leverage a growth platform to maximize market exposure.

To celebrate the launch of Hashkey Exchange, Hong Kong's first licensed retail exchange platform, HashKey and its partners launched a campaign on Web3 growth platform TaskOn to promote the official launch, with 168k exposure on Twitter alone.

In terms of the form of activities, HashKey used small rewards for activities and joined with partners and growth platforms to maximizes the use of user traffic resources, gaining a large amount of exposure in a short time and attracting market attention.

• Base

Base is another example.

Base has continued to grow even as the popularity of Bald and friend.tech has waned, and launched Odyssey missions in Galxe. From August 9 to August 31, new tasks were open every day for users, encouraging users to participate in the daily tasks and mint NFTs. By the time of writing, the number of participants reached 322k.

What are the advantages of using the Web3 growth platform to publish a campaign, as opposed to creating a dedicated page to publish an Odyssey or campaign on your own channel, such as the official website or official Medium?

The author believes that there are several advantages:

1. Save resources: Most tasks are complicated and repetitive in an Odyssey or a campaign. The Web3 growth platform provides a variety of task templates to maximize the simplification of the creation of campaigns and reduce the development cost of the team. In addition, most Web3 growth platforms are currently provided for free, and projects only need to prepare a budget for campaign incentives.

   
   

2. Information aggregation: Projects like HashKey which held large-scale campaigns including multiple activities with partners need a platform to help users obtain complete activity information. Web3 growth platform can do this to ensure users' participation in activities to the greatest extent.

   
   

3. Maximize the reach-out audience: Web3 growth platform has its own native user group, and publishing campaigns on the platform can maximize the reach-out audience. Trying to publish your campaign on multiple growth platforms can further expand your campaign audience.

According to the traffic data of some Web3 growth platforms on SimilarWeb in the past month, Galxe, as the leader in this regard, is outstanding in all aspects and is the preferred channel. The promotion can be Galxe plus and other channels.

Of course, when resources are limited and it is not possible to publish tasks on multiple platforms, you can carefully select 1-2 platforms and try to choose a growth platform with less overlap with Galxe users. Here in this article, the writer will compare platforms including Layer3, TaskOn, and QuestN:

TaskOn and QuestN both have less than 10% of user overlap with Galxe, while Layer3 has 20%.

Paving a path to victory in a bear market

In a bear market, the market is less active, and it becomes very difficult to stimulate user activity. This is a profit-driven market, and if you can make users feel the potential of wealth, you will have a chance to stand out in a highly competitive market and get high attention from users and the market.

Improving the product can allow users to see the value and potential benefits of the product success.

Projects that take advantage of the price expectations of users for airdrops have become the focus of the market in a short time.

However, for projects with a limited budget, the choice of promotion channels becomes particularly important. It may be a wise choice to use the Web3 growth platform, a tool with a huge user base, to launch a small-budget promotion campaign, bring your project to the market, and start the development journey in the bear market.