What about Marketing?
Marketing is a topic coming up regularly at the community. Especially when somebody is not satisfied with the performance of token or products.
And yes, Marketing is important. But we should talk about different forms of marketing, expectations, reality and what can be done. It´s going to be a long article — make sure you read till the end please — it´s important.
Reading some comments one can get the impression that there must exist some kind of magic marketing that will do the job over night. That, if only a project pays banners, influencers, shillers, news outlets etc. success is inevitable.
And some people seem to think we just don´t get that and demand we should get a “marketing strategy”.
Investors who did their own research (reading the whitepaper, the website, checking the social channels and the blog etc) know what they can expect if they decide to invest. In this case looking for a good entry point (buy the dip?) and not invest more than you can afford to lose (golden rule of crypto) will help to be relaxed about investments. No financial advice of course.
Because apart from very few exceptions there is no such thing as overnight success — businesses, artists and projects have to work for years to get their chance to be famous “over night” — only that the majority of people haven´t seen the years of hard work which was necessary to get a chance to perform.
Actually we were shocked how high GAT price went after IDO and we publicly asked people several times to invest responsibly at that time. The price was very high for a brandnew entertainment project. At the moment we can´t expect a marketcap in regions of big crypto projects that actually solve real world problems and are around for years.
Another thing you cannot compare are meme-coins without ecosystem but with absurd high token supplies that they can afford to buy back and burn in spectacular events. Most of them are very dangerous. Some early investors can make good profits — but most people just lose a lot of money in the end.
Everybody who did research on our project knows what to expect: Longterm development of a sustainable ecosystem. This cannot be achieved over night. Our work will probably pay out but it will take time.
We have to admit even though we are very good in developing software due to around 20 years experience in coding, we had to learn a lot about the dynamics of crypto space and we still learn.
We were not aware of the pump & dump mentality that seem very common in the space.
So many things in this business are fake. You can buy follower, people who view your videos or comment on them, buy people who push your project on CMC or buy fake conversations in your Telegram channel , pay “influencer” to praise the token, some cexes offer accounts where the dev team can trade without fees to “make the market” and fake high trading volume etc.
We don´t do any of these things. Maybe our numbers are not that impressing but at least they are not bought.
Everything can be bought. Projects who want to sell their token quickly and make money can use all this to make it look like the project is very famous. People buy the token, the (anonymous) dev team gets rich and often the projects is abandoned when no new investors come in because there is no working ecosystem.
Same problem with marketing services. There are tons of “Influencers” (aka Shillers) who bought an Youtube or Twitter account existing for a few years already — to make it look like they have been around for a long time. They buy followers and buy interaction with their content. Then you can pay them a lot of money to make them shill your project and there might be even a lot of views or likes — but since very often it´s not a real audience the effect is minor and the money is wasted.
Even if you manage to convince legit influencers to cover your project — it might backfire. Price can rise nicely for some time — but since this attracted mostly people who are in for quick money and don´t care about the project — they will dump hard not much later. It´s not sustainable. For example Bitboy (1m+ followers) talked/shared about CGG a few times. The price of it pumped tripple then a few weeks later, it dumped 65%.
Of course if for example Coinbureau would agree to cover our project — we would cooperate with them immediately. Or another of the good influencers that are mentioned in the community sometimes. But how to achieve that? We can´t just call them and have them make a video. Be sure that we tried to contact several legit influencers like Coinbureau, JRNY Crypto, Matty DCL Blogger, BitboyCrypto and more. But there was no answer.
We also tried a Twitter shiller (150K follower) — just to see if it makes any sense. Had them make some posts where we could measure the response. And guess what — it was zero. The posts were liked and shared by the zombie audience but no interaction with the links we posted.
Be sure we are ready to spend money on marketing and did recently. But the effect has been more or less zero.
For example did we run 4 weeks of heavy marketing for Alchemy Toys on DappRadar lately (up to 4 different Banners/ Slots parallel). Almost no effect as you know. This is confirmed by a Twitter poll we ran yesterday asking how people discovered GAT Network. Less than 6% of people answered DappRadar. This proves that money spend for this marketing was wasted.
For those who didn´t know — Youtube, Twitter, Instagram etc. don´t allow crytop projects to use the paid advertisement on their platforms. So unfortunately this is also not an option for us. Google is allowing it since August but with high restrictions only a handful of projects can fulfil.
We also spent a lot of money on News Outlets like BSC News, Cointelegraph etc. — this is very expensive and the effect is small. Check out the media coverage of the past months here
What we do
News Outlets can support a campaign from time to time and we will keep working with them.
The most successful marketing have been partnerships so far. Having an event or AMA at Bakery Swap for example always has a great response. Will try to do such things as much as possible.
Also our partner Spores Network will launch in 2 weeks and we are in contact about further cooperation.
Instead of wasting money for banners and shillers we will focus on partnerships and collaborations.
We work on a concept for business development and invest money in people who will support us with making contacts and partnerships. Please be aware that this takes a lot of time to achieve — and the larger the potential partner the longer it takes because many people and paperwork are involved.
What you can do
There are loyal supporters of GAT Network who give time and devotion to the project — we appreciate that more than we can express. They make a small part of the community though.
If you want the project to be successful you can help to achieve that!
You can for example:
- like, retweet on our Tweets or make positive comments
- tell people about the project and why it has potential in your opinion
- talk about GAT Network or it´s products on relevant subreddits, Discord servers, Twitter accounts , Telegram groups etc.
- promote the project and bring attention to it wherever it is suitable
- and very important: constructive criticism is ok if necessary but don´t FUD or talk bad about the project in our channels — potential investors or partners will check out the channels and it might chase them away. This can ruin a potential partnership and do a lot of damage. Remind others of that if you see them talk bad about the project.
If you have suggestions or good marketing ideas you can leave them at this channel in our Discord. Please be very specific. Instead of linking some Influencer or just drop big name for a partnership please give details how a cooperation could look like and why it would be beneficial for both parties. Maybe you can even search for contact details and provide them since this can be extremely time consuming for us. There is no need to tag us in this channel, we will check it regularly.
We hope you will support the project this way and we will do our best to develop the project.