It’s nearly impossible to create the “perfect” STO marketing strategy. However, by avoiding the most common mistakes and errors other teams make along the way you can bolster your efforts and maximize the returns on every investment dollar you pour into marketing.
Here are the top five greatest STO marketing strategy blunders you should avoid:
1. Blatant Shilling
The crypto community has had a tumultuous decade. After countless frauds and scams, the average developer or user has developed a resistance to marketing speak and hyperbole. As such, the community is now immune and even turned off by blatant efforts at self-promotion.
With security token offerings, the pressure to come across as genuine is magnified. Accredited investors, venture capitalists, and family offices get pitched a million times a day, so the only way to catch their attention is to focus on the fundamental promise of your project and the underlying drivers of value you’re trying to create.
2. Not interacting with the community
The power of blockchain relies on the network effect, which means no project can survive without an active and thriving community. However, as mentioned above, this community is a tough audience.
Some of the most successful crypto projects such as Binance and Ethereum have set the bar high with frequent and transparent community interactions. Vitalik and Changpeng Zhao are always available to take questions and respond to criticism on social media, which means the average startup with unknown founders simply can’t avoid these platforms while marketing a new product. Get involved!
3. Not creating content
Content, whether written or recorded, is still king in the digital space. Not only is high quality content a great way to catch attention and build a brand online, it’s also a key element of any search engine optimization strategy.
Creating good content doesn’t need to be labour intensive, time consuming or expensive. Simply entertain or inform your audience through a medium that suits you best.
4. Avoiding physical networking events
While blockchain technology and security token offerings are at the bleeding edge of digital technology, no other marketing and public relations strategy is as effective as an old fashioned meet-and-greet. Hackathons, developer events, and investor roadshows are still the best way to interact with potential investors and future users.
Some of the most successful entrepreneurs have managed to attract the biggest investors and best developers at high-profile events. Attend as many of them as you can when you’re first getting started.
5. Loosely defining your message
A cardinal sin of any marketing strategy is launching without a clearly defined message and objectives. It’s absolutely critical to figure out what you want to say to the audience, why they should join your platform, and why you’re the perfect team to solve the issue you’ve identified before you start investing money in PR or marketing efforts.
Of course, an experienced PR agency or marketing consultant can help you refine your message before you launch, but it’s your responsibility to keep adjusting the message and modifying it as you move forward.