Crypto has been this year’s biggest trend, and it looks like this phenomenon is only beginning. A lot of pundits believe blockchain might change the world for good, which we could see within the next couple years. And if this something that your marketing company has been interested in, then there are a few key things you should know to get involved. Check them out below:
Look For Useful Applications of Blockchain
While crypto has been an incredibly exciting time for tech, it’s also something a lot of different industries are trying to latch onto. As commonly compared to the dotcom boom of yesteryears, there’s a ton of entrepreneurs looking to become the first to put some form of existing technology on the blockchain. As noted by Coinschedule, with $3.8 billion invested into ICOs last year alone, a lot of people genuinely feel like they have a shot at success, which is something you should be mindful of in trying to enter the market.
A big thing you have to understand about the popularity of ICOs is that it’s crowdsourced funding. While I’m not saying that this practice is necessarily a bad thing, be mindful of what items people are hyped on versus which ones make sense as blockchain applications. Because although some ideas might be getting people participating in their token sale, that doesn’t necessarily mean their proposal is one that has extensive use for the blockchain. Which, knowing the difference will come with a little bit of studying.
In assessing what applications could use the blockchain, you first have to know a little bit about the underlying fundamental structure of it. Some early functions people are exploring include digital signatures and proof-of-stake (i.e., knowing who the owner along a chain was), secure file transfer, as well as contractual agreements. Other compelling use cases include blockchain health technology that could make patient health files more easily transferable than ever or a blockchain-based freight network that can reduce waste in the shipping industry. In both instances, the decentralized network creates a “can’t live without” situation, which is why they’re game changers for their industries.
Stay Ahead Of The Curve On Your Insights
Once you’ve started to get a grasp on what type of companies are currently competing in crypto, it’s time to look at the general insights as to how you can be helpful. For a lot of clients, this will vary, especially as we start to see different campaign strategies (more on this later) with crypto. And considering that this is an early field, it’s best to find your niche early before the competition climbs in.
Start looking at the different aspects of crypto and gaining some expertise. Whether that be producing ebooks or connecting on social media, the overarching goal is to become an authority others look to for insight. Utilize the pitch of what marketing techniques might be beneficial to them, for example, as noted by Hubspot with 53 percent of marketers saying that content creation is a top priority; this is a great way to gain authority in their field. Which, as a lot of these companies are still trying to become the blockchain frontrunner for their industry, this is a great chance to hop in and help them reach that point.
Become A Master of The Token Sale
Finally, as we were mentioning token sales above, this is a place where as a marketing company, you can make your mark. Considering that this is how a lot of crypto companies receive their funding, by being able to help them promote and market their token sale, you’ll not only gain more clients but potentially have an equity stake in their success. And if this is something you’re considering, then breaking down the timing and structure of a token sale is a must.
To begin, start studying what successfully marketed token sales have looked like, as well as why they were able to gain the traction that they did. For example, as noted by ICO Whitelists, nearly 99 percent of ICOs so far have used Telegram to communicate with their communities, which is an area that you could maximize on. Additionally, knowing how to support them with email, social, and PR will also be crucial, becoming a one-stop-shop for their token sale. The better you’re able to package these things together, the more likely it is you’ll gain crypto clients, so take your time in helping show real results.
What excites you about possibly working with crypto? Comment with your answers below!