Estimated reading time: 4 mins
In a lot of ways, right now is the perfect time to start a blockchain company. After all, with the gold rush settled and the bear market close to bottoming out, this is the most opportune moment to start building a new crypto company from the ground up. However, as the days of big ICOs with big-budget marketing pushes has since past, you have to look at developing your fan base organically with more bootstrap-like strategies. Here’s how:
Start With Your Brand
If you’re going to win people over on your blockchain company, then the most important place that starts is with your brand. Especially since considering that blockchain is a relatively new industry and one that you’re trying to win people’s trust over in, it’s important that your brand is something that took some investment into, as well as cohesively displays whatever it is your crypto company does. However, before we dive too deep into the principles of a great brand, we first have to analyze what yours stands for, as well as why it exists in the first.
Although it’s been quite the craze to try and “decentralize” every industry in the name of the blockchain, as buyers are skeptical of scams, they’re going to want to see that you’re legit about your purpose with implementing blockchain technology. A big part of that will be showcasing the value you see in the blockchain, as well as why others should as well; in fact, as noted by Zimmer Communications, 64% of consumers state that shared values are the primary reason they have a relationship with a brand, which is the first point of building trust with your blockchain company. Take the time to consider what type of image you’re trying to convey, giving yourself a strong entry into what your brand is about, as well as why someone should want to learn more. Remember, once you start pushing this image out, others around will see it and start to develop this as the permanent image, so ensure that you’re comfortable with this being the primary vision everyone around understands you as.
The brand that you create needs to have an online presence, be featured on industry news sites like Cryptoext and have social signals in place. A failure to focus on branding can only lead to a lack of trust.
Listen To The Experts
Another important consideration for your blockchain company to market successfully is by looking at what the experts are saying. Not only will this help you better forecast how people will respond to your company as it exists in the crypto community, but you’ll also be able to place yourself as a strategic partner. When you consider how young the crypto industry is, being able to pinpoint who you need to be working with as well as how to pivot your business will be crucial. As this industry expands, being at the forefront of who the breadwinners are will set you apart from the competition, regardless of your field.
When looking at the blockchain industry, a smart place to start with your goals is by establishing a few different sectors of the industry you want to capture, as well as who you think some top names in that arena are. For example, over $6.3 billion was raised by ICOs in 2018, which is why listening to someone like Tom Zaccagnino or other ICO investment experts is smart. Regardless if going public is for you or not in the near future, it’s still an important piece to bring together your favorite marketers, analyst, additional blockchain firms, or other strategic partners that could help your company grow. Not only will establishing these relationships now give you more leverage later on, but you’ll also have those who can grow with your brand, giving a partnership that benefits both bases.
Become A Community Builder
Especially since blockchain is still in its infancy, being a strong community leader is imperative. With so many people vying to have the spot of being at the forefront of the industry, it can be hard to know who exactly to listen to as a trusted voice. Granted, this is a process that when done right, can build a base of evangelists around your brand. However, this is also going to take some patient development, which is why you need to first look at how you can approach your base, as well as what to say.
While most blockchain companies start out by trying to develop from the built-in community that crypto has offered, it’s wise to think ahead to how you’re going to get outsiders involved. Eventually, this will involve using traditional targeting channels via social media and email; for example, as noted by Pew Research, 71% of Instagram users are between 18 to 24-years-old, which is a great age group to go after for crypto projects. By starting to follow and engage with potential users, I can utilize an agency to keep the conversation going about my product or its purpose, giving others who visit my page a better understanding from the dialogue. Although it’ll take some time, developing a strong community is going to be the core audience for your brand, and something well-worth the investment in the long run.
Launching a blockchain company is all about building not only your company’s base but the crypto ecosystem as well. What are some strategies you’ve used to separate the language of the two, and how successful have you been in reaching new audiences? Comment with your insights below!