Crypto marketing strategy is failing. From these three aspects, you will find new ideas

Crypto/Web3/coin circle/blockchain (no matter what it is called, in short, you know which field I’m talking about), marketing is almost an absolute factor for success, and it can even be a little more extreme – the visual design of the project is what primary productivity.

Users and investors in the early stage are not paying for just needs, but trying new things. The driving force is imagination space, not practical utility.

Therefore, there is no real monopoly in the field of cryptography, there is no absolutely leading technology, and there is no exclusive channel to tell users whether they like it or not. All project parties are competing for limited users.

So what is successful crypto marketing? I have combed through the public strategies of many overseas top third-party marketing companies, as well as the marketing methods that have tracked many projects (both head and tail), trying to find the secret of successful marketing, and finally came to a shocking conclusion ——There is no difference in their marketing actions!

Although successful marketing strategies are always similar, it is true that the “Top 10 Successful Crypto Marketing Strategies” can be summed up based on those successful marketing projects, and it is so correct that no one can refute it, but you can also summarize based on those marketing failed projects. Come up with the “Top 10 Failed Strategies of Crypto Marketing”, and then you will find the basic similarities.

If you don’t believe me, try to recall whether all projects are based on calling KOL platforms, creating accounts on omni-channel social media (including but not limited to Reddit, Telegram, Discord, Facebook, Instagram, Twitter) and using Lottery draws, whitelists, etc. to attract fans, put news and press releases on the media, and engage in some competitions to attract users or developers… But the feedback from these same actions is very different.

This is not to say that those project parties are not serious about marketing (even failed projects spend more money), not to mention that crypto marketing is useless in the first place, but that some of those marketing strategies are destined to be ineffective, and the project party is implementing On the level, some tasks are completed in order to complete the task, so that the few options left are discounted.

These marketing strategies are more or less effective in the bull market, but almost ineffective in the bear market. You may wish to re-examine the project’s marketing strategy from the following three points, and you will find new ideas about crypto marketing.

Ineffective and effective marketing

The first thing to do is to start with positioning.

The audience in the Crypto field is originally a very small group. For a specific product, at most, several very small circles are stacked together. But many common strategies are applying the strategies of mass consumer goods , such as SEO, media bombing and so on. This strategy reaches non-core users, and the conversion rate is naturally not high. It is more suitable for mass consumer goods such as Procter & Gamble, because the core users are the masses.

In the field of crypto, perhaps only centralized exchanges are more suitable for this kind of popular marketing, because users from the sinking market to high net worth people are covered, as long as they are users of ordinary Internet wealth management products with slightly higher risk appetite, they are all centralized potential users of the exchange.

So we see that FTX has played various marketing tricks, but this has no imitative value for most crypto projects, or even for most centralized exchanges, because few fully It is difficult for a compliant centralized exchange to appear in the mainstream media. And DeFi, NFT and other projects that require on-chain interaction have clearly limited the scope of core users.

Therefore , effective marketing should directly target this small group of potential core users and repeatedly promote it, and focus the marketing touchpoints on them as much as possible , including but not limited to co-branding with various project parties and subdividing the track’s head KOL (Because there are enough core users, the number must not be too many.) Intensive discussions and appearing in various industry research articles and research reports will bring the best conversion.

Insert a sentence, when planning a marketing plan, you must set the “minimum feasible task”, let the target users come in at the lowest cost (whether time or money) to experience , and then you can talk about the conversion rate.

The common mistake of the project side is that people are stupid and have more money to directly come to the whole set, and the final data is also very beautiful, but after a long time, the core users do not know that there is this project.

KPI orientation and core goal orientation

Suppose that the project party has a precise positioning and avoids unnecessary (at least very low priority) marketing strategies, and then there are a series of factors in the implementation that greatly reduce the final effect. The fundamental reason is that the KPI is oriented. Non-core goal orientation.

Full coverage marketing is only inefficient, but there are always a few that are effective, but KPI orientation will make the effective become ineffective.

KPIs were originally used to refer to the quantitative indicators of the evaluation results, not the results themselves, but for specific executors, the optimal strategy must be directly directed at getting the indicators (rather than solving the problem itself).

For example, it is absolutely effective to find KOLs for publicity. The project party will find a batch of KOLs with the best data for one-time delivery according to the budget. It seems that it has reached thousands of fans, but the data is beautiful when reporting upwards. The data does not reflect the quality of fans, and the actual conversion effect of thousands of viewers/views may not be as high as the conversion brought by fighting with people in a relatively accurate community.

Moreover, the one-time launch is only wet, and the market will soon forget it, or the effect of repeatedly brushing the presence of core users as mentioned above will be better. It’s like a project that a KOL you follow has recommended once, but it’s not as impressive as a project that you can always see in several information channels (even if someone mentioned it in the WeChat group).

In addition, there are events for the purpose of holding events, such as attracting crowds to create an event, which looks lively, but of course there will be conversions, but the overall input-output ratio is not high enough.

What’s more exaggerated is that a beautiful job can be done in one working time. Under the guidance of KPI, there will be an extra (or half) time for the summary of the upward report. If it is an internal review of the team It is also possible to sharpen a knife and chop wood, but the summary of various modifications and considerations is unnecessary.

If it is guided by the core goal, it will be very different. For example, the core goal is to attract in-depth users of the subdivided track to come in and experience it and keep it as much as possible. In fact, you don’t need to pay too much attention to the reference indicators such as the frequency of events and the amount of forwarding. , adjust dynamically according to the actual effect.

KPI-oriented marketing will inevitably bring about effect delivery (regardless of whether it has an effect in the end), and the long-term operation of the project must be brand building, and the two have different focuses.

Third Party Marketing and Self Marketing

As mentioned above, marketing is done with the help of a third party, but the most effective and fundamental thing is that the project party builds a community for self-marketing.

In the field of crypto, the roles of project parties, media, investment institutions, and retail investors are not so clear . ), so outputting high-quality research content is the best way to build a reputation , bar none.

This is difficult to imagine in other business fields, because knowledge is generally generated first and then converted into business, so there are always experts who have knowledge to guide business. But in emerging industries, companies may be the experts at the forefront of the segment (if they are really high-quality companies with potential).

Therefore, there is no authoritative media in the crypto field, nor even authoritative experts in the real sense. The industry is iterating rapidly, no one can monopolize information, and everyone is piecing together their own industry knowledge map.

Users/investors are optimistic about a project because they think it has potential, so the project party, as a frontier explorer, is the best way to build trust by outputting in-depth research content, which is much more effective than finding a third party for certification.

Procter & Gamble users will not study “the effect of surfactants on the mechanical properties of hair”. A trusted third-party authority tells him that it is easy to use, but the users/investors of the crypto project are very concerned about the technical route of the project. and iterative ideas. If the team shows enough professionalism, even if the product fails, some people are willing to pay for the new product released by the team.

However, many project parties only regard the work of community communication as customer service work, and the work of outputting content as announcements. This is a common practice in Web2 public companies, and it’s humorous on Web3 projects. At least current Web3 users are early supporters of the project and future runners, not just consumers.

Therefore, the project party builds a community is not simply to build a group like a community group purchase, but to establish a real connection with community users (whether they are real users or potential users, in short, users who are interested in the project), which means that the project leader It is necessary to be active in the community, carry out various forms of communication activities, and the project party must produce high-quality research content for this track. This is the best way to build your own professionalism, rather than third-party PR.

Summarize

When marketing the Crypto project, it is necessary to distinguish whether it is ineffective marketing (or inefficient marketing) for the general public or effective marketing for core users, and whether it is KPI-oriented or core goal-oriented in the next execution. The most important thing is the project party. Build your professional reputation by marketing yourself.

According to the above criteria, the vast majority of crypto projects fail. Some projects in the bull market have taken off. We can’t say that their marketing is doing well, we can only say that they have not held back.

So the crypto market needs new marketing solutions in order to accumulate real users and survive the bear market to usher in the next bull market . Of course, if you cut a wave of leeks, just ignore it, or just do the reverse.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/crypto-marketing-strategy-is-failing-from-these-three-aspects-you-will-find-new-ideas/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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