Marketing Strategies for Blockchain Businesses

Blockchain may seem like a unicorn to most people — legendary but impossible to catch that it’s better left untouched. Its complex nature and foreign language make it a daunting venture for entrepreneurs and a scary investment for investors.

For blockchain startups, the challenge of bringing their babies to the scrutinizing eyes of financiers and make it enticing enough to spend on is trickier than marketing any other business.

For one, blockchain businesses and services are not tangible products that can be examined up close. There’s also the worry about it being new technology without clear historical data to prove its effectivity and potential success. Of course, it requiring a hefty amount of money (or cryptocurrency) is another red flag. Especially to the public, with public sales and Initial Coin Offerings in toe.

Given all these hurdles in the way, can the distributed digital ledger be enticing to the common investor?

The answer is a resounding “YES!”

With the right marketing strategy for blockchain, any startup can get the industry talking about the business. It just takes work and a few strings, and your service could be front and center in no time.

Overview: Blockchain as an industry disruptor

Blockchain has come a long, long way since it first started out in 2008 as the network that keeps Bitcoin afloat. Since then, and all thanks to Satoshi Nakamoto, blockchain has infiltrated industries, changing the way business management and operations are done.

Because of its advantages — transparent, safe, fast, and cheap — more and more industries are looking at developing the technology.

So far, banking and finance are the biggest adopters of the decentralized digital ledger, with MasterCard and Visa already allowing cross-border B2B payments through their own infrastructures.

The food industry has also joined the movement with Walmart announcing that it will be requiring its suppliers to use blockchain to trace their products. The change aims to focus on transparency while pushing for better and more accurate food safety.

These developments, notably coming from industry leaders, only prove the growing acceptance and usage of the technology. These highlight the impressive benefits of the distributed digital ledger.

But it doesn’t end there. Barriers to the mainstream adoption of blockchain is already being torn down. Several tech trailblazers are solving issues like limited process transactions per second, standardization, and complex development.

“Its continuous innovation and development, not to mention the fact that empires are jumping in, is what makes people interested in blockchain, despite its complicated front,” Thorecash CEO, Nikstrade, noted.

“Blockchain is on its way up and if companies don’t join now, they won’t reap the benefits of early adopters.”

Blockchain Marketing tips and tricks

If you’re building a startup around the decentralized digital ledger, marketing it is one important way to attract investors and prospect users. But marketing this type of business isn’t as easy as producing a TV commercial or setting up social media profiles. Because of the specific type of audience it caters to, blockchain marketing has to be specific too.

Here are a few ways you can up your blockchain marketing campaign:

Set up a website

Websites are probably one of the most crucial components of an effective marketing strategy for this type of business.

All credible blockchain startups have information-loaded websites that offer every important detail about the business — the business summary, mission and vision, the industry problem it will solve, a road map and timeframe, token details (price and distribution), and team background.

Since blockchain businesses cater to capable and financially stable consumers, the website should have a formal, straightforward design and approach, but with easy to digest information. Informational videos are also a good addition to your web as visuals do a fine job at explaining the complex.

As Hackernoon would put it, “Blockchain marketing clients should explain their company as they would explain it to a young kid. Unnecessary use of cryptocurrency jargons and blockchain terms will scare away most people.”

Publish a White Paper

White Papers are in-depth reports on a topic — in this case, your blockchain business. It should dissect your service by presenting a problem and then explaining how you will solve it.

It should highlight your product’s features and promote your philosophy in hopes of informing and persuading possible investors and consumers.

White Papers are very important because it serves as a one-stop-shop for prospect customers — providing them with every bit of information they need, explained in detail, shedding of the complexities of this intricate technology.

Your White Paper should be accessible on your website too.

Get publishers to talk about you

The blockchain investor market isn’t really the social media perusing, Facebook-posting type. They mean business. So unlike the usual enterprise, this type of commerce isn’t too keen in getting an audience on social media.

To get the right people’s attention, getting established publishing platforms to write about your service is a good strategy. Consider sites like Forbes, CIO, or business.com. If your service is something that uses blockchain to serve society in a new way, these sites would love to hear about it.

Don’t know where to start? Sending your White Paper, or a one-pager about your initiative, to business and tech writers and editors is a good first step. Make sure your resource is interesting, clear, and short and simple to grab their attention right away.

Remember, journalists won’t spend time going through lengthy proposals. Keep it short, simple, and straight to the point for them.

If you present your business the right way, highlighting your strengths in a way the strips down the complexities of blockchain to put a spotlight on why it’s the business of the future, you’d be getting the attention you deserve and the investors you need in no time.

Marketing Strategies for Blockchain Businesses was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.