3 Marketing Tips for Blockchain Startups: Case study on the Importance of Social Media Marketing
Marketing is a critical aspect of any startup’s success, but it can be challenging to navigate for new entrepreneurs. As a marketing agency, we have always talked about how a good marketing strategy is important. Therefore we wanted to ask one of our clients about their experience as an entrepreneur and what was the impact of social media marketing on their business. Hence we decided to interview Oliver Schantin, CEO and Co-founder of basenode.io, who shared his experience and we summarized them into 3 valuable pieces of advice. basenode.io is a startup that develops invoicing software for crypto payments, with a focus on making cryptocurrency payments easy to use. We are happy to work with basenode.io since 2022.
Author: Mayra Candelaria
Use social media as the primary tool for digital marketing
Social media marketing is important in a start-up for several reasons, such as: Cost-Effectivity; Reach; Engagement; measurable Results and Flexibility. Social media plays a crucial role in reaching the target audience, particularly for startups in the growth phase seeking to expand their user base. Oliver advises startups to use social media as their primary digital marketing tool. For basenode.io, digital marketing is essential in the growth phase. And so, basenode.io is present on several social media platforms, such as Youtube, LinkedIn, Twitter, TikTok and, as you can see in figure 1, Instagram.
Figure 1: Instagram profile of Basenode.io
Start marketing early
Oliver points out that even if the product is only in the vision stage, entrepreneurs should begin communicating about it and letting people know that something new and innovative is coming. By doing so, they can gain support and even receive feedback that can help them improve the product. Oliver suggests that social media marketing is an effective way to start marketing when funding for the company is limited, but emphasizes the need for a plan. Above all, transparency is key, and entrepreneurs should be open about the stage of their product’s development. By keeping marketing simple in the beginning and gradually increasing investment, entrepreneurs can effectively build momentum for their products and create a strong foundation for growth.
Hire a professional marketing agency
Oliver shared his experience of trying to figure out their company’s marketing strategy on their own, which could have been more successful. As the company grows and funding becomes available, he recommends investing in marketing. After hiring a professional marketing agency, basenode.io saw a significant increase in their impressions and followers. Oliver suggests that every startup should invest in a professional marketing agency as early as possible to create a marketing strategy and get professional guidance.
Figure 2: Marketing tips for startups
Figure 2 summarizes some tips for startup marketing. Social media marketing can play a significant role in reaching a broader audience, building brand awareness, and engaging with customers. Based on the insights shared by Oliver, three valuable pieces of advice for blockchain startups include using social media as the primary tool for digital marketing, starting marketing early, and hiring a professional marketing agency to create a marketing strategy and get professional guidance. By following these tips, startups can effectively build momentum for their products, expand their user base, and create a strong foundation for growth.
About Mayra Candelaria
Mayra Candelaria is the executive assistant of Luna Vision’s CEO; while studying for a master’s degree in International Business Management, she decided to get involved in the blockchain ecosystem. Before that, she worked as a Commercial Analyst in the oil and gas industry sector for over 4 years and now she is putting her sales skillset to use at Luna Vision. Get connected to Mayra via LinkedIn.
About Luna Vision
Luna Vision is a blockchain marketing agency with its roots in the blockchain ecosystem. We offer data-focused marketing to blockchain startups. With a deep understanding of blockchain technology, we can best promote your products created and running within the blockchain ecosystem and “translate” to your customers — may they be already included in the ecosystem or still be new here.