The fundamental driving force behind fascinating concepts like crypto and NFTs, blockchain technology has totally changed the game for digital assets and operations. The whole world today either wants to know more about it or wants to invest in it. It is unbelievable that this one single technology can accommodate almost all kinds of services for every industry.
Here are some facts about blockchain that will blow your mind and show you the promising future of this technology:
- The global expenditure on blockchain solutions touched $6.6 billion in 2021.
- It is expected to touch $19 billion by 2024.
- The blockchain industry is set to expand at a rate of 85.9% in the 2022-2030 period.
- Blockchain will make an astounding contribution of $ 1.76 trillion to the global GDP by 2030.
So, with those noteworthy figures speaking for themselves, everyone one is taking notice of this disruptive technology. Several businesses have already made the shift and have made millions using this technology. With so much noise around it, right now even the blockchain-crypto space is heading towards saturation.
In this scenario, even when you have a killer project that has immense potential, you may still fail to garner the right kind of attention and get good investments. This is where you blockchain marketing. An experienced blockchain marketing firm can help your brand in myriad ways and achieve the identified business goals in no time.
However, one of the most common thoughts that most blockchain business owners have when given the suggestion of partnering with a marketing agency is that they should outsource the services or get an in-house team to do it.
We will address this and many other related factors of blockchain marketing in this tell-all blog. Read along to find them out.
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Blockchain Marketing Agency- Do Businesses Need It?
Marketing for any industry is a very dynamic process. While there are some fundamentals that remain constant, there are no real rules to be followed here. Every sector needs marketing strategies to fulfill its business requirements. As we know, the blockchain space is a fast-evolving one. Something that is trending right now can be overtaken by an entirely different conversation within hours.
Hence, it becomes difficult for brands to stay updated with the recent happenings. Also, blockchain project marketing is unlike traditional marketing. It demands a sound understanding of the technology, its terms and relevant use cases. To make the maximum impact, marketers must be updated about its regulations and product behavior in this volatile space.
The blockchain ecosystem is also a highly regulated one. It is marred by speculations, occasional cyber frauds and scams, and abrupt valuation dips. So, to promote a project with these challenges is not something that conventional marketing agencies are equipped with.
Blockchain marketing agencies, on the other hand, house industry experts that have a sound grip over this ever-changing landscape. Crypto and blockchain marketing professionals are updated with whatever is going on in the market, from memes to cryptocurrency performance. Hence, they use relevant communication strategies to reach out to the appropriate target audience to help brands fulfill their objectives.
These agencies are a one-stop-shop for a wide range of blockchain marketing services like influencer marketing, content marketing, PR and sponsored articles, community management, SEO, etc.
Many brand owners often feel that hiring an in-house team is the ideal answer to meet the requirements of blockchain marketing. However, once they sail the ship, they face challenges that may throw their core activities to the sidelines. Hence, onboarding with an agency is what most brands now favor.
So, let us take a closer look at the benefits of outsourcing marketing requirements to a blockchain marketing agency and understand why they are so popular at the moment.
Advantages of Partnering with A Blockchain Marketing Agency
Running a business means there are a ton of things you need to take care of. From sales to strategy, internal management, planning future launches, etc. In this situation, you cannot divert your focus towards marketing as there are other crucial revenue-generating activities that need your attention.
Hiring a marketing agency can help you concentrate your energy on the crucial components of the business, while you can follow-up on other departments. Let us discuss some of the most compelling benefits of hiring a marketing agency for your blockchain project.
Hiring the right kind of resources for blockchain marketing is a time-consuming process. And the hustle does not end there, you have to train them and incorporate them smoothly into the team. All this eats up a major chunk of the company’s time, which delays the planning and execution of the plan.
When you hire a marketing agency, you do not have to face such issues. Blockchain agencies hire the best resources that are readily available to work on your project from the moment you let them know of your requirements.
Building a Reliable Team
When we say building a reliable team, we mean a team that you can trust. With an in-house team, you will always have the uncertainty of resources quitting your organization for better opportunities. Another crucial factor to note here is the reliability of resources. We all know how crucial data is today. In-house teams may jeopardize your brand reputation by leaking out sensitive client information to your competitors.
Marketing agencies, on the other hand, do all the due diligence to ensure they hire the best and trusted resources. They do activities like extensive background checks, signing of non-disclosure agreements, etc. that makes sure that no one messes around with client information.
A sound blockchain marketing plan requires experienced minds that understands this industry inside-out. Not every marketing resource knows about blockchain and its features, advantages and challenges. Without such knowledge, you cannot possibly expect such marketing professionals to come up with a relevant strategy for this sector.
Blockchain marketing agencies hire those marketing experts who are not only blockchain enthusiasts but also marketing wizards. And so, you get the best of both worlds in the form of a bespoke blockchain marketing plan.
Curated Marketing Activities
Blockchain marketing is such that brands need to have a flexible plan. This means, while some marketing activities run for a longer duration, there are some others that are time-sensitive and are up only for a specific period. Ensuring such targeted planning and execution with an in-house team may at times be a miss as several other factors may hamper it.
When you hire a marketing agency, you directly get the access to a talented pool of experts who can ensure sustained marketing for your brand. They can run every kind of campaign with much more flexibility and in a cost effective manner.
Partnership with The Right Industry Players
Partnerships with the right media sites and influencers are key factors to ensure the success of a blockchain marketing plan. And this is where marketing agencies take the crown from in-house teams. Due to their vast range of clientele, agencies over time form great relationships with reputed media publishing sites and influencers.
Hence, you can easily get the best names to speak for your brand when you partner with a marketing agency. While for an in-house team, it would be a long road of unanswered emails and constant negotiations that ultimately may not lead anywhere.
Money plays a decisive role while choosing to outsource marketing services or doing it in-house. Contrary to popular belief, handing over your blockchain marketing needs to an agency is actually more cost efficient than hiring an in-house team.
With an in-house team, you have to pay salaries, allowances, benefits, pay for extra office space to accommodate the team, buy the latest tools and software and train the resources. But when you team up with an agency, you do not have to pay anything for these requirements. Also, the ROI is unquestionably impressive when it comes to a blockchain marketing agency.
Now that we know that going for a blockchain marketing agency is a smart decision anyday, let us find out how to find the right match for your blockchain project.
How To Find The Right Blockchain Marketing Agency?
Seeing the potential of the blockchain space, several agencies are now claiming to offer blockchain marketing services. However, not every company can deliver results. Here are some tips that can help you spot the right agency for your project.
Client portfolio is the best mirror to peep into the agency’s past works. A marketing agency that has mettle will always flaunt their client testimonials. You may get in touch with the past clients and understand their experience. You may also ask for case studies about a few of their projects as well. This will greatly help you in making the right decision.
Understand the Team
It is crucial that you know the people who will be working on your projects. Ask the agency to provide the names of the professionals who will be with you during the journey. You can look them up on LinkedIn or even request for a one-on-one call to know their skills. This will ensure that they are the right match for your requirements.
Go through the list of services offered by the blockchain marketing agency. See if they match your requirements. Talk to them whenever you have any questions and ask if they would be flexible to accommodate requests for services that you may have not listed initially.
Be clear about how much you are willing to invest for the marketing services for your blockchain project. Tell the agency about the list of services you would like to avail in the given budget and seek their thoughts on it. You may even ask them for suggestions on what they think would work for your business goal. Once you move past that stage, ask for the charges that you would have to pay.
Make sure to do a quick research of the market and compare the prices to at least three to five other agencies. Once you are comfortable with the findings, move ahead and seal the deal.
Moving on, here are some of the red flags that you may spot while discussing your blockchain project with an agency. These red flags tell you only one thing- this agency is not the one for your dear project.
Things to Look Out While Selecting The Right Blockchain Marketing Agency
Below mentioned are some of the most concerning signs that tell you that may be you’re not talking with the right marketing agency:
Lack of Communication
Communication is essential to ensure the smooth execution and delivery of your marketing plan. During your initial discussions with the agency, ask them what communication tools they use to communicate with their clients. Also, ask if you will be given a dedicated project manager to assist you throughout the process and how frequently you will be able to get on feedback meetings with the team.
If the agency is hesitant to give you a clear answer for these questions, then they are clearly not a professional team who can take feedback.
It is normal for agencies to claim that they have worked with big brands and helped them grow their business manifold. If the agency that you’re deciding to onboard does the same, ask them for project reports.
As a potential client, you must be able to view the data that supports their claims. Data-driven insights are crucial to understand the agency’s potential and if they are really worth your money.
There is no one-size-fits-all solution in blockchain marketing. You should always ask if the agency can offer a custom solution package for your requirements that is curated after understanding your brand image, its position in the marketing, the marketing goal and the brand tonality. And of course, the price of such services should also be flexible.
At Blockwiz, we offer tailor-made blockchain marketing solutions that helps businesses establish an unique identity of authority and dominance in the market. Our expert curates the most perfect marketing strategy for your blockchain project that not only helps you get higher visibility and add new users, but also establishes you as a thought leader in the industry.
So, do not wait anymore. Get in touch with Blockwiz experts and take your blockchain project to its full potential today!