Building on a blockchain shares similarities to constructing a building in real life. A solid foundation must be established, and thorough planning is required before the actual construction can commence. However, it seems that crypto founders sometimes overlook this process when it comes to planning their marketing strategy. What may start as an ambitious plan, often ends up becoming a repeat of previous marketing attempts, leading to limited success and a lack of brand loyalty.
A successful marketing strategy should begin with establishing a brand identity. This is crucial for long-term recognition and emotional connection with the target audience. Your brand isn’t just a logo or a catchy slogan; it encompasses a set of values, ideas, narratives, and visuals that differentiate you from competitors. In the world of blockchain, a robust layer-1 is essential for long-term success and stability, and your brand is your layer-1 in the marketing world.
So, what are the characteristics that make a powerful layer-1? Decentralization with distributed shared ownership, immutability, transparency, and longevity are essential elements that should also be present in a successful marketing strategy. Unfortunately, many founders’ marketing plans fail to incorporate these principles.
As crypto entrepreneurs focus on building blockchain platforms, it’s important to remember that the brand itself is a crucial element in achieving lasting success. Creating engaging social media channels, blog content, and PR campaigns is essential, but these efforts should be considered secondary (layer-2) touchpoints. These activities resemble dApps in the blockchain world; they represent and communicate your presence and voice globally. The true magic occurs in layer-3, where your brand, product, and story come together to create lasting impact and value.
Brands can still be built retroactively. If you’ve already established a layer-2 marketing strategy but haven’t yet defined your core brand, you can use the existing data and impressions you’ve gathered over time. Utilizing this feedback helps shape and strengthen your brand identity, ultimately making your marketing strategy more effective and resilient.
To conclude, building a successful marketing strategy in the blockchain world starts with establishing a solid layer-1, embodied in your brand identity. By not neglecting this essential component, crypto startups can better navigate market fluctuations and build lasting connections with their target audience.
Source: Cointelegraph
