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This article is not financial advice nor should be treated as financial advice. This article is a commentary about Marketing in the crypto space.
I started learning about cryptocurrencies back in 2015 when Bitcoin was a dream from independent thinkers that hopes to create a world of banking free finance. Over the course of history, the people that have gotten into bitcoin, dogecoin, Ethereum and all of the world of digital Crypto-finance have changed.
Cryptocurrency is becoming dumber over time.
Coinbase and many other crypto trading buying and selling platforms have arisen to bring the value proposition of cryptocurrency to the masses.
Over the years, The biggest problem that every digital currency has realized with becoming mainstream is its marketing…
In the current status quo, Bitcoin and Ethereum are the two most hot and popular cryptocurrencies, and with a few exceptions, every other coin tends to follow their lead in terms of the market evaluation.
Cryptocurrency Marketing is More Important than Ever
There are a few that tend to separate themselves from the crowd. Barnbridge, Compound, AMP, are just a few of the coins that have become of interest to me due to their competitive marketing strategies.
Let’s be clear the world of crypto finances is complex, convoluted, and not very friendly to new users. Cryptocurrency requires you to be patient and able to learn about new things consistently.
But the success strategies that I’ve noticed have had one strategy in common.
Provide Easy, quick access to both simple and complex explanations of the product
All right so let’s talk a little bit about what it means to explain a product to a client. Unless your product is something that everybody innately understands the value of (like food), your job as a marketing professional is to give information that is easily digestible, but easily expandable.
If you’re introducing a new product that has an emphasis on new technology, the way you introduce that product is by giving information about the problems it solves and how that makes your client’s life easier.
How Copywriting Affects Perceived Value of Crypto
Barnbridge, compound, and AMP all do this very well. For example, here’s a snippet from the amp website:
In the top heading, AMP token is explained as a way to guarantee payments. This explanation serves to both identify the problem of payment guarantee on bigger platforms AND how to solve that problem in one sentence.
The problem AMP claims to solve is the problem of transactions at their root. Since the beginning of time the problem of value exchange has been difficult due to complications along the way. Even if it’s a straightforward transaction of “I give you x and you give me y,” you can run into problems of underpayment, deceptive payments, delayed payments etc. That’s not to mention all the complications of debt, credit, transaction fees, and many more finance problems.
So what amps marketing does really well is catered to the new consumer while providing extensive knowledge in the background for the intense investigator. If you continue on the amp website you will be able to find their white paper where they explain in depth the problems, technologies and solutions surrounding this type of crypto coin.
Is Marketing Important to Cryptocurrency Mass Adoption?
To be clear I’m not an amp fanboy, I think there are some problems with the platform, and I think their main competitor, Cardano, will be a better coin long-term.
But what amp does is something that every product manager and product marketer can learn from. The deeper the complexity of the product you’re selling, the harder you have to work to make the barrier to entry lower.
No matter if your marketing shoes or business to business software, the easier your product information is to digest, the better your sales will be.
– Me. Circa 2021
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