Is it so simple to promote a crypto project?

The crypto market is quite a young phenomenon, and experts can only grow by trial and effort. And, unfortunately, it often implies a systemless use of all tools and technologies available since no one had a chance to create a guide on effective promotion. Moreover, there has been no right time for it, as a toolkit was to be formed over time: it shouldn’t be a random successful experience, but a consistent work with enough volume of data for objective analysis.

We still do not have enough such data, and due to the crypto market dynamics, the thing working yesterday… can fail to work today, as the conditions are constantly changing.

And yes, some representatives of this industry sin by making thoughtless decisions while trying to do at least something. Still, this situation is not unique. It is similar to the early development of any market.

“Simple solutions” at the source of any young market

When a project enters a completely new market environment that has no verified and well-established mechanisms of promotion, it seeks simple solutions that bring fast results. For example, when Instagram only started developing as a social environment with huge commercial potential, the majority were unaware of how to gain subscribers fast and would buy them on exchanges, were “cheating”. This method only damages an account, making it less visible to the audience.

A similar situation was with SEO. While the competition was still low, mass link purchase brought fruit, but over time, this mechanism has become less effective, and then even dangerous. A modern site that purchases massively links, falls under serious sanctions and goes down in search results, or can be even excluded.

I can draw plenty of examples: purchase of cheap traffic, spam, cheating, and mass mailing. All this can bring a small temporary result (real or visible) at the start of the development of a tool or platform, but it loses its effectiveness in the process of market growth and enlargement.

There is no fast solution or simple marketing. If it seems to you that you know and can everything, and the project will fly to the moon — unfortunately, you have already failed. Do not seek simple solutions, seek consequent and stable actions with positive dynamics.

Chaotic actions in the blockchain market

Another critical moment in the promotion of not only crypto but all projects as a whole iis the absence of a well-thought-out and detailed strategy. As a result, local actions are substituted by system ones, leading only to chaotic and unpredictable growth.

Since the stages of crypto project development are more limited, their owners often neglect analytical and strategic stages, while preferring to make spontaneous and fast decisions.

Sometimes it works, but most often it’s Russian roulette: either a misfire or a marketing death.

Modern blockchain is about copying instead of scaling

I would often observe the tendency to cope instead of scale. It is similar to monkey behavior, that copies everything they see without understanding that the things having worked for one project and under particular conditions will not necessarily go off today.

Crypto projects are inclined to commit these mistakes. They see what worked out for a project and try to copy and apply external manifestations of this marketing to their own one. But copying may give only a random or partial result, since it’s a thoughtless process with no analysis.

To avoid it, it’s enough to address research, analysis, and marketing hypotheses. Do not ignore marketing channels only because they are not used by your competitors. Do not copy the competitors’ mechanics only because their project had marketing results. You do not know what was the reason for their success and do not know how fast the rise will be replaced by the fall. Marketing is not about instant speculation, but about stable and consequent work with the product.

You don’t get it, blockchain is different!

Have you ever heard the phrase “you don’t get it, it’s different”? Crypto owners often believe that crypto projects require fundamentally different methods of promotion and neglect classic marketing. Although for an experienced marketer, crypto projects are only another niche with its instruments and specification.

While neglecting classical marketing instruments, crypto projects lose plenty of opportunities. Modern projects “battle” between several commercial channels, pay impressive money, and stimulate the growth of competitiveness and lead cost in these areas instead of conquering the pristine ones. And they are pristine because everyone mimics the actions of other projects (let’s recall monkeys).

Crypto startup and management (or lack of it)

Another sore spot of the crypto industry is the relations between management and startup. Mixed alliances and roles, absence of wisely made teams, zero management, fast and inconsiderate actions, unreasonable partnership — these are the characteristics of the crypto startup because it saves money and “everyone makes everything”.

Sometimes startups simply fail to correctly estimate their resources and expenses, affecting the project possibilities. And often startups are focused on the product and forget about building business processes in marketing.

I have already described this topic in one of my articles, therefore, I believe there is no need to repeat it.

The general idea is that startups (especially crypto ones!) often face management problems emerging as a result of various reasons and conditions. And these problems influence the effectiveness of a project and its marketing potential, therefore they mustn’t be neglected.

From outside this article may look quite pessimistic as I keep talking about problems and difficulties. But there is a wonderful piece of news, a wonderful possibility every young market offers to the owners.

Every early stages market provides a chance to not only adapt it but also form. And blockchain is a perspective and live environment that still offers a big area for growth.

If you choose a strategy of wise systematic and well-thought-over marketing instead of copying one, you will face a whole constellation of perspectives and thousands of opportunities to become not another one but the best.

Professional marketers face a big and complicated challenge — the acculturation of a “wild” market.