Blockchain startup tips: How to start getting users from outside the blockchain community
Technology has been in a breakthrough phase for quite some time now. Promising tech, such as machine learning, artificial intelligence, and the internet of things have lit up the digital world, and blockchain isn’t too far behind. Perhaps there is no technology as promising as the blockchain when it comes to security and transfer of digital assets. Although being used primarily for financial and fintech operations, the blockchain lends its usage to a whole host of applications, with various industries set to benefit from the breakthroughs in tech.
Startups using the blockchain technology have started springing up left, right, and center. The beauty of blockchain is that it is a smart, safe, convenient, and accurate, hence so many entrepreneurs being attracted to this mystical, nifty little piece of tech. All’s not rosy in the technology wonderland, however…
The problem faced by blockchain startups
Blockchain products and startups are often unique, technologically sound, and groundbreaking enough to pull in users from the community that understands blockchain. One reason for this is that selling to someone who already knows the ins and outs of what your product is based around is pretty simple. You needn’t lose your mind explaining how your startup works, as the person in front of you is probably as enthusiastic about blockchain as you are.
The real problem, however, arises when it comes to pulling in users and investors from outside the existing blockchain community. All it usually takes for traditional businesses to get established is having a solid marketing plan and an intriguing online presence, at least for those looking to start slow and steady. With blockchain, this doesn’t seem to be enough. Here’s an interesting example from the real world which will help you understand the blockchain startup conundrum even better.
Amazon and its early days
When companies like Amazon and Facebook were founded, they did not simply appeal to only those who understood how the internet worked. If that would have been the case, these companies would have never become the behemoths that they are today.
Talking about Amazon, specifically, the company started out in 1995 as one that sold books. Imagine the level of relevancy the company would have achieved if it catered specifically to book lovers and the type… not as much as it holds currently, right?
Jeff Bezos, right from 1995, had a vision. He wanted Amazon to be an ‘everything’ store, and not just limited to books. The entrepreneurial vision, and aim for the company’s explosive growth and ecommerce domination was always there.
This is what led Bezos to market Amazon to people all around the world, and not just to those who loved books. His vision of making Amazon into a global hub for all kinds of products could not have been fulfilled if he limited himself, and thankfully, he didn’t.
What about Facebook?
Facebook, or FaceMash, as it started out, was created during a time when the so-called internet boom was over. The dust had settled, and internet kings had grabbed their places in the valley of action, the Silicon Valley. Thankfully, no one told this to Mark Zuckerberg.
When in the valley, he ended up meeting some of the key players in the tech space back then, and this ended up transforming the vision that Zuckerberg had for Facebook. Instead of going all out in the valley, Mark went for what he knew would work- expanding Facebook to colleges, because, well, social media appeals and has appealed to students more than most for quite some time now, hasn’t it?
The meteoric rise of Facebook was only possible because Zuck identified that the users he needed to gather for his portal were not the high-flyers of the Silicon Valley, but those outside the tech loop- those who didn’t understand how the internet worked, but wanted to network and make friends from other places. Extrapolate this rise exponentially, and now, every person in every country uses Facebook.
Blockchain startups, it is time to follow Amazon’s and Facebook’s lead!
Blockchain, arguably, is in a similar position to what social networking was, back in 2002–2004. Before it became relevant, there was this period of uncertainty revolving around the concept, because people simply didn’t know what it was! Fast forward 2 years later, and these very people were talking to their friends from other Ivy League colleges for hours on end.
This is where blockchain finds itself now. Recruiting patrons from outside the community is what the prime focus should be now. The aforementioned challenges to doing this also present an opportunity, and this is how to make the most of it.
- Engagement-driven Growth.
For the success of a young blockchain startup, there is nothing better than engaging with the broader community. For startups, there is a constant need of evolving their product or brand to make it meaningful for users, and easy to understand. With such a unique set of challenges and opportunities, blockchain startups must do their best to inculcate a sense of community within themselves, too, since ultimately, they will become part of the blockchain community as we live and breathe.
To do this, devising and implementing advanced content promotion strategies is crucial.
- Ever heard of influencer marketing?
Social media is the lifeblood of the entire community today. To market your blockchain startup and generate users from outside the blockchain community, why not consider partnering up with a social media influencer? This does not have to be a celebrity, just someone who pulls rank or power in the community, so to speak. As energy supplement company GFuel partners up with a whole host of video game streamers to market their product, so can you!
Create content based on what your business revolves around. Educate people about the blockchain, collaborate with different social media influencers, and watch how your user base multiplies rapidly.
- People need to stay in the loop. Help them!
With blockchain being a fairly new technology, still in the nascent stages, people need information- and lots of it. As a blockchain startup, it makes sense to update people on the progress you make, as you go through the cycle of entrepreneurship.
Obviously, potential users and investors, especially from those outside the community, will have questions and doubts about the technology. Communicate with them, solve their queries, and build a sense of trust with your community. This is one of the best ways to pull users from outside the so-called blockchain community!
Entrepreneurs working in the blockchain space definitely have their work cut out for them. Engaging the community which isn’t fully aware of a technology can be quite a tough task, as is evident from the initial stages of Amazon and Facebook. Fast forward to present day, and both of these companies are behemoths now, aren’t they? Blockchain startups should be looking to follow the same path, blaze the same trail of glory, since blockchain promises to be a revolutionary technology.