Blockchain is still an evolving technology which is why many investors think of it like Medusa, the legendary creature of the myth that sparks curiosity but better left in obscurity. If you are trying to get your blockchain startup off the ground, you know how challenging it is to bring your brainchild to the scrutinizing eyes of investors and make it alluring enough to spend on, compared to any other kind of business.
But the good news is, many companies in almost every industry are more than willing to take advantage of the perceived benefit of blockchain technology. According to Statista, the worldwide spending on blockchain solutions has already reached $2.7 billion in 2019, and it’s expected to grow to a whopping $11.7 billion by 2022.
If you have developed an exciting new solution based on blockchain or cryptocurrency, more power to you. However, you might still need to put in extra effort to catch the eye of investors.
Because, for starters, blockchain technology solutions are intangible products that are not easy to inspect. A lot of financiers also worry that since blockchain is still in its infancy, there is no clear historical data available to prove its potential success.
And to top things off, this technology requires a large sum of money or cryptocurrency to get going.
With all of these roadblocks in the way, is it even possible to succeed in attracting great investors and maybe, a tad bit of public attention?
The answer lies in choosing the right marketing strategy which gets the blockchain industry talking about your business. All you need is hard work and creative marketing for your idea and blockchain start-up to gain some attention.
Essential Blockchain Technology Marketing Tips to Get Your Start-up Noticed
Blockchain technology is basically a decentralized digital ledger and it caters to a specific type of audience. In addition to being used for financial transactions, it can also be used for validating identities, protecting the security of ballots cast online, securing title deeds, and certifying the exchange of stocks, just to name a few uses of blockchain.
Blockchain is an industry with enormous potential; it’s estimated that nearly 90% of the European and U.S. banks have already started exploring blockchain’s potential.
So if you are ready to take your blockchain start-up to new levels, here are some tips to can help you conquer this exciting industry.
1. Create a website
No business marketing strategy is complete without a solid website these days. If you look at all the well-established blockchain startups, you’ll notice all of them have nicely designed websites with lots of valuable content.
Set up a website for your start-up with a clearly defined vision, mission, and “about us” pages. Also include useful information like the industry problem your product will solve, your team’s background, and token details.
Be sure to keep your website design minimal, modern, and sleek. Adding informative videos that showcase your product &/or vision is also a good idea.
2. Get publishing giants to write about your business
A typical blockchain investor doesn’t necessarily spend time on Facebook or Twitter; they are more of the Business.com or Forbes reading variety. So, one of the best ways to catch their attention (and hold it) would be to get established publishers to write about your product or idea.
If your blockchain solution solves a problem or serves the society in an innovative way, these platforms would be happy to get in touch with you. Just write a clear, short, simple, and interesting proposal and email it to them. The operative word here is short. If your proposal highlights the strengths of your service in the right way and makes it so easy to understand that even an 8th grader could grasp it, you’ll be good.
Another option is to find someone else who supports your idea and is an influencer in the space to write about or include your blockchain idea in an article. This provides even more influence as someone else is talking about you, not you talking about yourself. Make sense?
3. Publish a white paper
A white paper is a detailed, authoritative report which aims to help readers solve a problem, understand an issue, or make a decision. You can publish a white paper on your blockchain service/product by presenting a prevailing issue and then explaining how you’ll solve it.
Remember, your prospective customers and investors would want to glean every bit of information about your business and the intricate technology involved. A white paper would help them accomplish that.
You can publish your paper on your website blog, your LinkedIn profile, OnlineWhitePapers.com, and other industry-specific blogs. You can also reach out to the thought leaders in the blockchain industry to see whether they would be willing to promote your white paper on their social media/blogs.
Speaking of thought leaders, since blockchain and cryptocurrency are such hot topics right now, many online giants are desperately looking for experts who actually know this industry. As a founder of your blockchain business, this is a good time for you to carve out your name as a pro by writing opinion pieces and sharing them with the world. This will also establish you as a credible figure in the eyes of the general public.
4. Find your tribe
Blockchain may be a relatively new technology but it has already garnered a good number of loyal and passionate followers online. There are thousands of attentive users who love to engage on social media networks and online forums (like Reddit).
You can connect with these enthusiastic audiences by producing fresh content about your projects and publishing it on these forums. Telegram is one of the few places where blockchain fans come together to learn about new technology, so consider interacting with like-minded souls there.
5. Partner up with an influencer
If your heart is set on using social media to promote your business, consider joining hands with an influencer. This individual doesn’t have to be a super famous celebrity – as long as they are credible and fairly knowledgeable about the blockchain and cryptocurrency industry. You can create interview-style videos with them and have them share it on their social media accounts.
6. Launch Bounty Campaigns Online
Several blockchain companies have benefitted from creating bounty campaigns to reward their loyal customers. If you want to turn your supporters into trusted agents who will take your business to a wider audience, a bounty program on Bitcoin Garden or Bitcointalk can work like a charm.
Don’t know how to create a bounty campaign? You can choose to work with a bounty platform like BountyHive which is specifically designed for blockchain and crypto startups.
Starting a blockchain business is a remarkable feat on its own. Unfortunately, the general public may not realize it unless you use impactful advertising to connect with a large number of potential customers. Blockchain has come a long way since its inception in 2008 as a system that was required to keep Bitcoin afloat.
Now, it is changing the way many businesses operate. This is an exciting endeavor, but you’ll have to use solid blockchain technology marketing techniques to endorse your start-up and leverage its potential to your target audience and investors.
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