The world of cryptocurrency is no longer just about Bitcoin. There are at least 1,500 emerging alternative cryptocurrencies storming the market with promises of multiple applications spanning beyond currency. And there are many more being churned out by startups across the globe.
As technology eats deeper into our daily lives up to a point where we are almost relying totally on it, many industries could receive a great deal of impact as much as our lives have. This could include disruption of the way things are done in the online and publishing sphere, where there is marked advancements made in decentralizing social media, ad platforms, and content management systems.
However, up to 90% of Cryptocurrency startups fail due to a wide range of problems that they encounter. The reasons for failure include:
Inability to execute the purpose and vision of their product.
Some encounter difficulty in finding a product-market fit. Many release products that do not solve real problems.
Some startups fail to release their product into the market.
Some startups have their products consumed by competition with a better product or a more solid marketing and sales activity.
Some companies underestimate sales and marketing efforts, so, nobody gets to hear about their product.
Some startup teams are only familiar with the technical aspect of their product and have little knowledge about running a business or online marketing.
1.Create a Unique Branding
For many alternative cryptocurrencies, the only way that they can stand out in the crowd is by branding themselves in such a way that their target demography or subculture can notice them. This is what marketing gurus refer to as selective marketing.
You do not necessarily have to give your cryptocurrency startup the most outrageous name (it works sometimes) or have such a narrow target audience. You can achieve a whole lot by achieving a great level of consistency with your company’s logo, website, stationery, and promotional products. They all have to work together. The key is to find the best way to set your product apart, this could be by designing a visually distinctive logo or theme.
2. Find Your Audience And Establish A Presence
Do not expect your audience to come looking for you, especially in the case of Cryptocurrency where the enthusiasts are not in the majority. You need to go all out and find your audience. Choose a platform where you want to establish an official presence. There is a wide range of platforms that you can use to your advantage. Many of these platforms serve different purposes, so it is down to you to determine where your audience. For instance, Medium will serve you well if you need to push text content relating to your product. YouTube is great if you want to push video content, Reddit for hosting your community, Twitter can play the role of the key social network.
Make sure that your social media, branding, and marketing are properly aligned and telling a consistent story about your company’s mission.
3. It Is Not Only About You
Your marketing messages should not always be about your startup or the product you are offering. Many cryptocurrency startups get it wrong here, their message is always about tooting their own horn. You have to see this opportunity as one to create content that the audience will find truly valuable. Do not stop at marketing your product, start conversations about other aspects of Cryptocurrency. The key concept here is to engage your audience.
Share with your audience then possibilities and applications of Cryptocurrency, publish educational content. Let your audience know that the value chain of Cryptocurrency is growing and they can be a part of it. Create content that discusses the importance of companies like SatoshiPoint who have successfully deployed Bitcoin ATMs across the UK.