Web3 Growth Marketing: How to Keep Growing in a Bear Market
Everyone does well in a bull market. But what exactly is the growth recipe for success in a bear market? Let’s find out.
2022 has not been kind to the cryptocurrency market. After soaring to all-time highs in 2021, prices have collapsed across the board, and investors are feeling the pinch. The LUNA crash, followed by the recent FTX fiasco, and now Bitcoin flirting with the $15k level are driving these crypto projects into the ground.
With Q4 2022 in progress, many crypto projects are finding it hard to attract investors or the right amount of funding. According to Crunchbase, investors have taken a ‘pause’ from investing in Web3, and record lower numbers are visual proof of this ongoing phenomenon.
In these times, what can Web3 business owners do to rise above their competition and stay afloat?
The answer is simple: Growth Marketing. It’s a proven technique that can help any business, regardless of size or budget. Growth marketing optimizes customer acquisition and retention strategies to maximize the company’s growth potential. In the current bear market, businesses should focus on more than just sales and marketing but also invest in product development and customer experience.
Here are some tips to help you get started with growth marketing in a bear market:
1. Don’t Focus on Price Action
As the bear market worsens, your Twitter DMs will be filled with angry investors calling for drastic price manipulations and re-branding. Don’t give in to the pressure. Growth marketing aims to build a sustainable product and brand rather than ‘winning’ the short-term battle with price action.
Keep building and marketing your product and focus on creating genuine customer value. Follow key leaders in the crypto marketing space and implement their strategies to see what works for your project.
Remember, “Great companies get built during bear markets because they have to focus on solid fundamentals way more than when investment capital is flowing freely.”
2. Leverage Existing Networks
In a bear market, new customers are as rare as the sun in the winter. This is why your existing customers are your greatest asset in times of crisis. Leverage these customers by rewarding them for referrals, creating loyalty programs, and offering discounts to keep them engaged. This will further improve your customer retention and generate leads for your project.
Existing networks and partners can help you spread the word about your product and create positive buzz around your project. They can also help you acquire new customers and tap into a new target audience.
Create new company accounts in the world of Web3. Try SocialFi networks such as Lens, Decentralized Social, and Steemit. Create a presence on these networks, and you’ll reap the benefits when the bulls arrive.
Last but not least, try to introduce a DAO structure in your community. The interest in this domain of the crypto world is going up rapidly as more and more users appreciate a project that involves them in their decision-making processes.
3. Focus on Quality Content
Content marketing is the key to success in any bear market. Quality content that resonates with your target audience will help you engage them and build trust. Invest in content creation and tell stories that are relatable and emotionally appealing.
Keep your content fresh and relevant, and engage with your followers. It’s also advisable to focus on organic content rather than paid campaigns in times of financial crisis, as it offers better ROI.
Some great examples of great crypto content clusters include CoinMarketCap Alexandria, Moralis Academy, and Binance Academy. You can create a similar content cluster for your project and use it to drive more organic traffic.
Remember, users, are always on the lookout for value. If you are giving them the right education, they’ll come running. A great example of this is an app called ‘WhatBitcoinDid,’ as it recently recorded its third-largest month in all-time downloads.
You can grow at the same pace if your content provides the right value to your users.
4. Add a Personal Touch to your Brand
“People never leave a sinking ship until they see the lights of another ship approaching.” — R. Buckminster Fuller
Your project’s ‘ship’ will get empty if you don’t show your customers that you care about them. And there’s no better way to do this than by adding a personal touch to your brand.
Focus on creating meaningful relationships with your customers and offer them exceptional customer service. Initiate conversations with your customers and be responsive to their feedback and queries. This will make a huge difference in customer loyalty and brand engagement.
Check out this article by Polygon that guides you on community building and finding the right people for your crypto project.
Keep Your Eyes on the Prize
In times of crisis, it is essential to remember the fundamentals of a successful business. In this article, we have outlined four ways in which you can keep growing your business during a bear market. These include leveraging existing networks, focusing on quality content, adding a personal touch to your brand, and expanding into new markets. As long as you stay focused and continue to provide value to your customers, you will be able to weather the storm and come out stronger on the other side.
Grow with 0xpragma
For more information about our Web3 growth marketing strategies:
- Check out our official website to find out more.
- Follow us on Twitter to stay up to speed with the industry.
- Join the official Discord server to start working with us.
Article Credits: Hassan Shafiq
