How to Market Your Crypto Startup on a Budget in the 2024 Bull Run
Are you a newly created Web3 start-up aiming to thrive in the upcoming 2024 bull run? You’ve got the passion, but what’s missing are the funds, the token, and an audience to cheer you on.
In this article, I’ll share a few tactics that might be helpful for your project, even if you haven’t hired a marketing manager yet. To succeed, creativity is key, so welcome to my blog, where we’ll explore innovative marketing solutions for your Web3 venture.
Building a Community with a Twist
Community building is at the heart of successful Web3 projects. While traditional bounty campaigns and airdrops might seem like a straightforward way to attract attention, they often result in the wrong kind of engagement — from bounty hunters seeking quick profits.
I know, you still have to use community-building services. Consider platforms like Galxe.com and offer more substantial, knowledge-based tasks. By doing so, you’ll not only attract a dedicated community but also foster a deeper understanding of your project’s vision and goals.
Since you don’t have a token yet, you can use stablecoins to reward participants, making it attractive to a broader audience. The key is to offer slightly more complex tasks than the typical “follow us and get $.”
For instance, ask participants to read a series of blog posts related to your project and answer content-related questions. This not only engages them but also ensures they learn about your project, creating a more informed and committed community.
Leveraging Other People’s Audiences (OPA)
In finance, “other people’s money” (OPM) means leveraging borrowed capital for potential gains and increased investment risks. In marketing, we have a similar concept called “other people’s audiences” (OPA). This involves activities like guest blogging, podcast appearances, and webinars, enabling you to tap into new audiences and expand your reach.
In the crypto world, OPA is about more than guest blogging or podcasting.
1. Collaborate with Like-Minded Projects:
- Fundraising Connections: If you’re already in the fundraising game, don’t hesitate to tap into your investors’ network. They may have valuable connections with other Web3 projects, which can open doors to exciting collaborations.
- Research and Connect: If you’re starting from scratch, roll up your sleeves and do some research. Identify medium-sized blockchain projects with active community marketing. These are your potential 😎 partners in crime.
2. Suggest Collaborations:
- The Synergy Effect: Suggest collaborations that benefit everyone involved. It’s about creating a synergy of efforts where several projects sponsor a campaign together. This collaboration extends to cross-sharing audiences, introducing fresh eyes to your project.
- Diverse Campaigns: Get creative with your collaborations. Whether it’s a quest campaign, a series of blog posts published on each participant’s platform (complete with intros to all the projects involved), or any innovative idea you can dream up, the possibilities are endless.
⚡️ Get a Personalized Web3 Marketing Strategy
If you need some solid marketing strategizing for your project, I’m here to help. Reach out to me at mail.anapromo@gmail.com, and together, we can develop a tailored marketing strategy for your project.
My approach involves a comprehensive analysis of your project’s goals and crafting a clear, actionable marketing plan that your team can implement effectively. Whether it’s short-term tactics or long-term planning, I’m here to guide and support you in this journey.
The Strategic Use of Paid Ads
While you’re on a budget, you can still strategically allocate some funds for paid advertising. To effectively utilize your advertising budget, consider running two distinct campaigns (I’m using the mechanics of X/Twitter ads in this example):
Campaign A: Follower Oriented
In this campaign, the goal is to grow your follower count strategically. Here’s how to make it work:
- Refine Your Audience: Dive into the settings and configure your campaign to target an audience as close to your desired persona as possible. Explore options to target look-alike audiences of your competitors or projects/accounts that you like.
- Steady Growth: Focus on gradual and organic growth. While it may be tempting to acquire followers in large numbers, quality trumps quantity. Genuine followers who resonate with your project are more likely to become engaged community members.
Campaign B: Engagement Oriented
This campaign revolves around boosting engagement with your tweets. It’s all about making your content resonate with your audience:
- Promote High-Engagement Tweets: Add each new tweet to this campaign, excluding the oldest one. Over time, you’ll identify tweets that garner the most engagement at the lowest cost per engagement. These are your golden nuggets.
- Permanently Promote Top Performers: Once you’ve identified your top-performing tweets (and maybe lowest ‘cost-per-engagement’ also), continue to promote them permanently. This strategy ensures that your most engaging content stays in the spotlight, attracting more attention and interaction.
Embrace the Power of Video
When you’re a fledgling Web3 startup with limited resources, every move you make counts. To thrive, you need to be unconventional, bold, and strategic. This means analyzing what your peers are doing and identifying opportunities that others might overlook.
Surprisingly, video content often remains an underutilized tool in the marketing arsenal of Web3 startups. Most projects tend to focus heavily on written content, partly due to the lower barriers to entry. However, statistics tell a different story — people prefer watching videos over reading text.
Record yourself (or your team members) discussing the very topics you’d typically tweet about.
You don’t need a professional setup to get started. A smartphone can suffice. Record yourself or your team members discussing various aspects of your project, including its goals, market news, predictions, and other relevant topics. Here’s an example of Kevin Murcko’s (CEO of CoinMetro exchange) conducting a regular casual AMA.
Optimize your YouTube videos with well-crafted titles, hashtags, and descriptions to improve your visibility.
👋 Hey there, I’m Ana — the visionary behind the marketing engine at PARSIQ, an established Web3 data provider. Brace yourself for a rollercoaster ride through my articles, where I unveil battle-tested tactics, golden insights, and secret treasures mined from over 8 years of diving headfirst into the electrifying world of blockchain marketing.👋 Don’t hesitate to reach out and say hello at ana@nesterova.marketing — let’s spark some revolutionary ideas together!