Starting a business is a heavy matter for entrepreneurs and startup founders. You must find the right idea, conduct an extensive study, create the best business model and elaborate an accurate strategy. Entrepreneurs look for mentorship and consultancy when it comes to launching a business. Imagine if this business is in the crypto field. Investing in crypto is risky and engages high legal responsibility, but it is exceptionally profitable.
We had the chance to meet with the founder of Hunter Crypto Coin company through our technical partner Namaa Solutions Group. Hunter was looking to understand the crypto market, prepare a specific strategy and manage the Coin launch.
Cryptocurrencies marketing is in a learning stage.
The most known issue for public cryptocurrencies is the legal side of the crypto projects. Entrepreneurs and potential buyers bear many questions that make marketing of such a “financial product” susceptible, even very hard.
· Is this Coin a Scam?
· What about the ethical side of Crypto?
· What is your project?
Even REACH team had its fears, especially when all the social media platform (Facebook, TikTok, VK) and search engines (Google mainly) banned paid crypto advertising campaigns. So how can we market a “financial instrument” which is not a product or service in unregulated sectors where scam is the general rule of the market.
Developing then branding
Technical and commercial preparation goes together
Through meetings with our technical partner and the Coin founder. We tried mainly to secure the project from a legal side then create practical solutions to avoid any fraud breach or fail sign. This collaboration between the three parties helped so much.
After implementing the smart contracts in Binance Smart Chain (BSC) and Ethereum Main Network by our technical partner, we elaborated a dedicated market study that detailed the launch strategy, including the targeted audience and specific tools to reach them. The team supported the founder in creating derivative products for the coin, developing the loyalty program, and defining the selling condition for the ICO rounds.
How to brand and sell from scratch?
Our launch campaign focused on attracting the audience to our social media platform, including a Telegram publishing plan. Reach used its media and professional network to handle a public relations campaign (online and offline) to reflect the trust and create a positive impression regarding the new Coin. In addition, we produced several promotion materials to answer the audience questions, incentivize believers, and attract traders and investors based on our audience study.
During our experience, we learned to interact actively with the intermediaries like swaps and exchange platform’s technical and media partners, providing them with promotion materials and filling their marketing requirements in either the website content or the social media management tools and means.
It was challenging to create a brand and sell a coin within 6 weeks. A newborn business without trace or achievement needs more than an idea to prove itself and convince the audience. A project must have a very talented operation team to back up the technical and marketing activities and create a competitive advantage and remarkable solution for potential coin holders and buyers.
Pioneer Prime: We learn to perform better
Through our experience with HCC, we understood that Crypto projects are community-based projects where your growth and sales depend on your interaction and community nurturing. Organic growth is the primary solution until the media platform regulations allow paid ads.
We also learned that reputation could be a killing point to the project since the project is not a product nor a service until nowadays. Therefore, branding and impressing the audience is a crucial factor to invest in or not.
Crypto entrepreneurs must understand 3 main issues; the market is in the education phase, creating a product is a key factor of success, and nothing is guaranteed in a sector where Bitcoin dropped from 64K to 32K within a month.
In REACH, we must be pioneers in what we do to achieve success. This incredible experience helped us understand the market and apprehend the requirement to launch a safe, stable, and trustable brand.
In our view, cryptocurrency characterizes the beginning of a new era of technology-driven markets, which will probably disrupt traditional market strategies and practices. The debate is no longer whether cryptocurrency is GOOD or NOT, but how it will develop—and when it will reach maturity.