Effective marketing is a complex task for blockchain startups. We are well past the phase where startups could ride on the hype to get the attention of the audience. As of 2022, there are over 18,400 crypto and blockchain projects. This means the competition in the industry is rising at a staggering pace. Since the blockchain industry largely operates over the internet, it is important for companies to boost their visibility online. From creating an informational website to starting official social media handles, there are several things companies need to do to increase their online visibility. But this is just the beginning. As an emerging project, you need to develop a solid brand strategy to beat the increasing competition.
Businesses have some key priorities irrespective of the industry. From Return on Investment (ROI) to client satisfaction, decision-makers prioritize such priorities while scaling. But it is time to look beyond traditional practices. If you are an emerging blockchain startup, you need to establish brand authority and promote it aggressively. For any business, building an audience is paramount. And people are attracted to brands. Hence, developing a strong brand strategy is vital for a blockchain project’s growth.
Branding Basics For Blockchain Startups
There’s much more to brand building than creating a logo and setting up an official website. In order to up your game, you need to figure out the difference between brand creation and brand promotion. Suppose you plan to launch a game that aims to enhance user experience on the Metaverse. There are hundreds of similar startups leveraging AR and VR to capture the blockchain gaming sector. How you differentiate your brands from these startups is the key outcome of branding. Here are a few steps you can undertake to formulate a solid brand strategy:
- Website Design: Your website is the first impression of your company online. You need to create a solid website with a convenient user interface to convert potential customers into real customers. Make sure that your website has a mix of text and visual content. Statistics show that visual content leaves a stronger impact. Therefore, you need to dedicate efforts to designing an impressive website that caters to customer demands and highlights the services or solutions clearly.
- Search Engine Optimization (SEO): SEO is always a favorite topic for content marketers. You create hundreds of pages of content in the form of blogs. But content that fails to generate leads is a waste of time. SEO is the technique to adjust your blogs according to market needs. This helps you in targeting the desired audience and exploiting their interest to trigger action. As a startup, you need to hire an SEO expert to research keywords and market trends. In a nutshell, SEO is the art of bringing more traffic to your website. And attracting more traffic must be your priority while building a brand strategy.
- Social Media Marketing: Social Media Marketing is the next step while building a brand strategy. More than 4.68 billion people use social media. That is over 50% of the global population. The impact you can create through social media is unthinkable. You need to have a tech-savvy social media management staff that can help you set up official Facebook, Twitter, and Linkedin accounts. You need to create impactful content and post regularly to build an audience and boost engagement. The chances of conversion are higher on social media. Moreover, you get the opportunity to connect directly with potential customers.
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- Press Releases: Press Releases have been an ideal method for companies to announce major updates, product launches, or partnerships. Since new startups have access to a limited audience, they collaborate with leading news websites and press release portals to reach out to a wider audience. You need to draft informative PRs and publish it through leading portals like PR Newswire, Newswire, and Presswire to spread the word to a wider audience in a short period. Drafting press releases must be an integral part of building a brand strategy.
Conclusion
There are different types of blockchain marketing strategies companies can adopt to market their product. This largely depends on the audience type and the industry they operate in. But irrespective of the strategy, having a brand presence is a must. Therefore, blockchain brands must have a strong brand strategy. It is important to sustain in the highly competitive market and expand as per the plan. From hiring marketing professionals to collaborating with like-minded companies, there are certain steps companies can undertake to strengthen their brand presence. Branding is a mix of planning and creativity. You must be proactive on both fronts to crack the code.