A global trend in blockchain project development is the emergence of a system and replication of numerous instruments of classical marketing. Earlier we discussed what blockchain can offer to classic marketing, as well as what the classical market can give to blockchain in its turn, touched on the subject of an effective ads integration in 2022 and talked about the difficulties of crypto project promotion as a whole. And now let’s name the local trends and the things blockchain should implement in modern realities as early as today.
#1. Consistency of actions
Any market while growing faces the need to walk away from chaotic actions and decisions to a consistent and predictable work based on a developed marketing plan.
At first, the blockchain industry was moving in a low-competitive environment, but now it’s already a huge market, where the chances to “shoot” relying on random actions are becoming lower and lower.
This is the reason those startups willing to see the growth of their project in 2022 must think over complex marketing and consequent actions. I have already covered this topic in great detail in one of my previous articles, so I highly recommend you have a look at it. You may thus escape fatal mistakes.
#2. Results and KPI orientation
Performance marketing is a field in modern marketing that is gaining popularity and is actively implemented in almost every niche, while slowly entering blockchain as well. When you act consequently, you get a chance to monitor and correct the results. We thus get clear metrics and predictability in work.
If to talk about performance marketing goals, they can differ extremely depending on which you choose as the key ones.
Here are some of them:
- site visits
- direct messages and requests
- app downloads
- traffic increase in a particular region
Two main advantages of performance marketing:
Measurability. You can always find out how many people you covered during a specific period, the cost of one lick, the coefficient of conversion in registration/sales, and ROI of every ad, the way ad resources separately and in synergy.
Effectiveness. Ad campaign analysis in real time gives a chance for fast and flexible optimization. You can see where you use your budget ineffectively/effectively at any time and quickly redistribute it.
#3. Testing and strategy formation
Testing is possible only when we have a sequence of actions and mechanisms of key indicators monitoring. We thus have access to the analysis of work of different tools aiming to assess their effectiveness with the help of specific technical indicators, such as CTR, target action conversion, etc.
Testing and strategic approach are also entering the blockchain market step by step, and in order to be successful in 2022, ad campaigns will become more sophisticated, diverse, and competitiveness will grow.
#4. Focus on system
The market is growing and developing, and more campaigns realize that not only local results, which are impossible to repeat, matter, but also a general structure of interaction, consistency, and predictability at all stages of communication with a product.
If blockchain is mostly about local, chaotic, and copied actions, classical marketing offers to focus on the system, which is a general funnel creation. In 2022, crypto projects should shift their focus from local channels to a general structure of interaction, build funnels instead of implementing narrow solutions.
#5. Additional channels for traffic attraction
Since we face growing competitiveness in quite a hot market, the majority of popular and used channels experience an excess of advertisers. Naturally, no one wants to pay much for leads. Every person seeks to get more at a low price. Consequently, more companies start to pay attention to other channels of traffic attraction, that used to be beyond their interest. For example, Google Ads, SEO, Display Ads, target ads — a range of variants is endless.
Here we should note that less than 8% of the projects I studied had at least basic SEO optimization, and the minority uses classical PPC placements, targeting ads. Unfortunately, it brings results, and startups should better shift their focus from the traffic channels everyone in your industry uses to those where your target audience is, and the competitiveness is not so hot.
#6. Business processes organization
Blockchain consistently experiences huge problems with the correct organization of business processes and management. The key concern of almost every startup is the situation when everyone does everything.
One of the trends emerging in the market and growing stronger is clear business processes and strict role division. Naturally, if we deal with a small company, roles will interlink and combine. But it mustn’t lead to chaos and misunderstanding of obligations.
It can be prevented with the help of a clear and unimpeachable fixation and description of every role, as well as functions, requirements, obligations, and results expected.
This approach is becoming more popular as it optimizes resources, including financial ones. It thus becomes possible to avoid a situation of hiring an employee without a clear understanding of his tasks and responsibilities.
There is no concern about task duplication and parallel commitment of the same task by two specialists independently. As a result, we get better results and investment payback.
Any young market inevitably systematizes and goes away from chaotic actions while growing. Therefore, almost all the trends described earlier are somehow connected with curing child diseases of blockchain startups: inconsistency, chaotic actions, and a strategy “we will launch somehow”.
With all actions described above, we get a chance to monitor the results, analyze data, and correct it in the right direction, while scaling things that work and abandoning those that do not. It provides chances for indicators optimization, CRO and LTV growth, and the general increase of project or company potential.
I am convinced that those products that will not abandon this infantile approach, risk disappearing. Only those products that combine the value for the audience, functionally stable management with a correct and consequent presentation in the market will survive.