Food for Thought
With a current market capitalization of over $150 bln and an increased coverage by mainstream media outlets, the cryptocurrency industry definitely has some honorable achievements.
However, many people still see it as a somewhat shady market and often associate cryptocurrencies to online drug dealing and other illegal activities. In order improve this public opinion, the crypto space urgently needs more marketers.
Explain the tech, for non-techies
Due to its very nature, the cryptocurrency space can often become quite technical.
This includes the usage of certain wallets, the way that ICOs are structured and the available content about cryptocurrencies.
Blockchain startups would hugely benefit from the attention generated by breaking this information down into more understandable chunks.
This is where individuals with a marketing background come into play.
It’s all about the vision
The native tokens of many Blockchain startups are currently traded at market caps that exceed the ones of highly profitable companies listed on the stock market.
The main reason for this is that these startups have a very clear roadmap and a well-elaborated vision.
Startups that lack these qualities will have a very hard time in bringing reputable investors on board.
This is, therefore, one of the most fundamental aspects of a startup, and it is also the area of expertise of a marketer.
Bitcoin does not have the support of an organization, like for example Ethereum does. This means that the marketing efforts are in the hands of the community.
It could be interesting to form an organization that is exclusively focused on promoting Bitcoin and on educating the public about its benefits.
This organization could be structured in the form of a DAO that receives donations from supporters and uses those funds to finance its activities.
A very special target audience
The cryptocurrency space is currently in a very interesting situation.
The demographic that is involved in this market at the moment isn’t limited to highly technical individuals anymore.
Recently, there has been a very sizeable inflow of non-technical people into the space.
Elaborated marketing strategies will need to be developed in order to reach this very special target audience.