Although blockchain marketing has been around since blockchain’s launch in 2008, it’s still an untapped market with a lot of work to be done. Due to this, it’s easy to commit errors when you’re launching your blockchain marketing campaigns.
In this article, we’ll walk through the five biggest mistakes that new blockchain companies commit. By knowing and understanding these five problems, you’ll be able create more effective, compelling, and successful blockchain marketing campaigns.
We’ll be focusing on:
Not Setting Targets
Not Paying Attention to Data
Not Using A/B Testing
Looking in the Wrong Places
Let’s jump right into it!
#1 – Not Setting Targets
Peter Ducker is probably one of the most quoted management theorists of all time. His famous quote, paraphrased as “that which isn’t measured, isn’t improved upon,” is carved into the mind of every marketing manager.
Blockchain marketing is no different in this manner. Without measuring your campaign’s data, you won’t be able to gauge how effective it is. By setting targets for your campaigns, both on a weekly, monthly, and yearly scale, you’ll be able to track your progress.
While this gives you a huge boost of motivation if you see you’re beating your goals, it will also signal that something needs to change if you’re not meeting your targets.
Set targets, measure them, and you’ll be on your way to smashing them.
#2 – Not Paying Attention to Data
Data-driven marketing is one of the most powerful tools currently at a marketing manager’s disposal. Considering how relatively new blockchain marketing is, paying attention to data is vital in saving your business money on its marketing campaigns.
This is especially important when thinking about A/B testing.
If you run two campaigns simultaneously, one will always be more successful than another – even if only marginally. But even marginal differences can lead to massive changes over a long period of time.
By measuring and tracking your campaigns and the data they produce, you’ll be able to manage them more effectively. The data will point to which parts of the campaign are succeeding, and which you need to adapt, change, or rewrite completely!
#3 – Not Using A/B Testing
Even in my above example of #2, I assumed that A/B testing was a practice that your blockchain marketing agency was already running. That’s because testing is vital when it comes to your business.
Even if you believe you’ve got the strongest campaign possible, there are always improvements to make. Small differences always lead to big changes. Kyle Rush used A/B testing to increase donation conversion percentage by 49% when working for the 2012 Obama for America campaign.
It’s always worth running tests.
Run two parallel campaigns with one or two slight differences. Once they’ve finished, you will be able to use data to see which was more successful. Now run that more successful campaign again in a pair with a new slight change.
Constantly repeating this process will continually improve your blockchain marketing content.
#4 – Looking in the wrong places
The cryptocurrency community is not as mainstream as some other niches. Due to this, you’ll find the largest congregation of those interested in blockchain in alternative channels.
Instead of focusing on traditional marketing platforms like Facebook, target cryptocurrency social sites. These are sites like Reddit, Steemit, or Pocket, can be much more valuable channels on which you can focus.
Blockchain is not a traditional form of transfer, nor should blockchain marketing techniques follow tradition.
#5 – Expecting overnight results
Blockchain marketing campaigns are not overnight success stories. Your campaign should spend at least a few weeks or even months running before you see fantastic levels of success.
However, that also doesn’t mean blockchain marketing should be a set it and forget it form of marketing. By employing tips from this list, such as A/B marketing, you’ll be able to optimize how you engage with your audience.
Don’t expect overnight results, and don’t give up on the way. Good blockchain marketing campaigns will take time – allow campaigns to gather data and run their course!
Avoid these 5 mistakes and your company will be well on its way to producing effective, engaging, and successful blockchain marketing campaigns.
Best of luck!