How to Choose a Marketing Agency for Your Blockchain Project?
Exploring the world of Blockchain marketing can be a difficult task for many C-level executives, considering how full their schedules usually are. Businesses need a reliable and competent digital partner to handle their online marketing needs. The increasing number of marketing agencies specializing in Blockchain and cryptocurrency has made choosing the right one a challenging task.
Choosing the right marketing partner can be crucial for the growth of the business. But entrusting part of your marketing decisions to an agency can be quite daunting, especially if you are involved in decision making at every level of your company. So, how can a person be sure that the agency you are hiring is the right fit for your business? Let’s see.
Set Clear Goals and Budget
The first step in the process is to understand the needs of your company. The better you can explain your business goals regarding the marketing, advertising, social media and PR, the better your communication will be with the marketing agencies.
Knowing how much are you willing to spend is also very important. The budget is not something fixed — you are not buying a toaster. A skilled marketer should be fit to work with any reasonable budget and help you set expectations accordingly.
Ask for Full Transparency
Lack of transparency is a fundamental and the most overlooked red flag. Review a website of an agency — if you cannot find an address, bios and a client list, then the agency is probably not worth your time. If an agency looks shady, then it probably is. It’s that simple.
Credibility Is Key
Make sure to check the agency’s credibility and experience. Look for client testimonials on its website. Do the testimonials seem authentic?
Ask them to provide Blockchain/crypto client references, including the ones that did not go so well (and we all know this happens in new industries such as this one). All agencies have had experiences that did not go so smooth, and it is good to get an idea of how they dealt with them. Call the references (good and the bad) instead of sending an email — you will be amazed by how much more information you can obtain from a simple phone call.
Finally, does the agency have a decent website? Does it rank well in search results? Are its social media pages adequately maintained and with quality content?
Think Outside the Box
Meeting the marketing team (virtually or physically) is crucial. The agency’s willingness to go into the depths of your business, and the capacity to challenge the way of your thinking you are the key to success. If you are looking to take your project to a new level, the agency you choose should support and encourage the change, as well as be a reliable partner and guide you through the transformation.
Industry Experience Can Be Sometimes Misleading
Many marketing agencies claim to have experience in the cryptocurrency industry. But do they really have it? Ask about their engagements in the industry and challenges they faced. If they do not have it, this does not have to be a red flag. Instead, ask how they would approach a new industry.
Many industry-specific agencies often go with a canned approach, which means that they use the same strategy for the majority of their clients. But in many cases, a fresh approach is needed to reinvent a stagnant marketing strategy. A good marketer is capable of evaluating a client’s industry, online presence, and competitors and come up with an effective marketing plan.
Consider All Sides
Most marketers differ two sides — the client and agency side. And you are either on one side or the other. But there is a third side, more important and often overlooked — the technical side.
Understanding Blockchain and underlying technologies is crucial to any marketing strategy in the industry. Understanding the product and the technology side can significantly improve the marketing strategy. That is the reason why it is good to have a well-rounded view of Blockchain.
Ask for Performance Measurements
Marketing agencies in the cryptocurrency industry are often a unique blend of tech-savviness and creative talent. High performing companies do not run away from performance measurement. Instead, they are willing to be responsible for the results.
Do a Beer Test
Once you have shortlisted a couple of legitimate contenders, ask yourself what you really expect from this relationship. Everyone wants different things from their relationship to a marketing agency. Marketing should be something interesting, fun and stress-free for the business owners. So, choose an advertising agency that suits your personality.
At the end of the day, you should ask yourself if you want to have a beer with that person. And if you do, that is a good start.
Conclusion
The point is there are two key things when it comes to any marketing agency. The first question you should ask is can they do the job well and the second do you enjoy working with them? When we put things into perspective, it is easy to see that only these two things truly matter.
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Our next post is going to be about the Blockchain marketing trends in 2019. We’ll try to identify most effective strategies and ways to leverage them. Stay tuned and subscribe!
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