With the advent of cryptocurrency as a strongly secured mode of asset and transaction procedure, there has been a reduction of scams and fraud. This form of virtual currency is used in Initial Coin Offering (ICO) which is a mean of raising capital for new ventures and startups. Investors prefer using ICO for capital investment to startups and acquire these in exchange for legal currency or other forms of cryptocurrency. ICO is necessary for startups; usually, the new ventures use blockchain marketing for better transactional facilities. These companies are also known as a decentralized autonomous organization (DAO) and are primarily funded through crowdfunding. These startups use the blockchain technology for data management as well as modification of data.
The legal status of such blockchain marketing projects or startups is not very clear. It is a difficulty for them to hire a licensed attorney as well because none of the company members are interested in mentioning their names on agreements. As a result, they have a legal liability as a number of their approaches can be declared illegal. A blockchain code is difficult to alter once they are set up and in action. Even though the security factor is better to prevent fraudulent transactions and updates, leaves a loophole in the security if the alteration is not a convenient facility.
There are these very drawbacks of blockchain marketing projects, and hence there is a lack of popularity of such startups in the market. This is a situation that can be handled if taken care of properly. The marketing and promotion of the blockchain startups are a vital essential for their working. Promote Blockchain Startups as there are a number of varied things and issues that are needed to be looked into for bettering the clientele of blockchain projects. Promotion is also necessary for recognition and better results.
There are a few ways that you can improve the promotion and marketing of your blockchain startup. Some of them are elaborated below:
The concept itself is quite blurry and unknown to the average population, and over that, if the language of your content is solely technical and difficult to understand, it won’t be of any help. You should try to simplify your language and useless industrial terminology and be more specific and straightforward. A layman’s perspective of writing is the best approach. Before explaining what is offered by the company in simple terms, you shouldn’t jump into its technicalities. Blockchain marketing clients should explain their company as they would explain it to a young kid. Unnecessary use of cryptocurrency jargons and blockchain terms will scare away most people.
Just explaining your company isn’t enough. There should be evident stress and specification on the benefits of the company. It is always advisable to make a list of the benefits and advantages that are offered by your company. Stress on all the advantages of cryptocurrency and blockchain technology and hook the customers to your project and idea.
There should be good design and clear presentation to attract customers to your company. It shouldn’t be taken lightly as it is a well-reasoned and factor that helps draw and bring in customers to a company. Use pictorial ways to depict the benefits of your project. It may push the budget a little, but the good quality design from a proper graphic designer is quite essential.
Community relation is another important factor in your marketing strategy. Having a stable community relationship comes with a number of benefits. Though it is not very common having a good community relation helps your partners and investors to support you in all possible ways. You should treat all connected member of your startup as an essential and vital part.
There is lack of awareness and understanding about the virtual currency concept among most people today. It is hype in the online realm, but few have a clear idea of the entire concept. There is a need to educate people about the conceptual plan in simple ordinary words. If a person doesn’t have an opinion about your company concept, then they will most definitely not be interested in your company too. You should also explain the benefits of your company, as well as how and why is it able to exist. It is a form of helping the people does their work for knowing the background info of the company and its idea.
Referral marketing and word of mouth is an effective form of marketing and promotion. It helps in explaining new users and convincing them. Satisfied customers guarantee to return customers as well as new users who have been referred and convinced by the happy customers. There needs to be cooperation in the cryptocurrency realm, but hardcore competition is a big hindrance or weakness which needs to be avoided.
All major platforms of advertisements over the internet like Google, Facebook and Twitter have now banned any form of ads for crypto services or projects. The product itself is the best marketing, but with advertisements, you can enhance the promotional factor. Some consider this a major drawback, but others take this up as a motivation to find organic ways of marketing. Bitcoin talk, Quora, Slack, and Telegram are some of the many crypto communities where you can promote your crypto service ads. In certain other SEO, you can still advertise your project and bring it into the notice of the public.
In your promotion, the content and graphics should make the readers question themselves. Explain the idea of blockchain marketing as a complete peer-to-peer networking system. Take certain examples from successful blockchain companies and grab a firm hold over the blockchain digital marketing.
Make the readers decide and deduce from the information whether cryptocurrency and blockchain technology is apt for the business. With their adoption, it means the end of paperwork and management. There are various important advantages of blockchain tech and cryptocurrency like it gives a real-time virtual currency exchange, cost-effectiveness of transactions and security benefit of such operations. With such luring honest presentation it is more likely to receive many users.
The blockchain technology in startups and new projects is growing in popularity, but there are certain major drawbacks in its marketing strategies. Rectifying those flaws will give a resultant boom to this particular segment to not only the blockchain projects but also to the entire cryptocurrency segment.