The number of crypto & NFT projects has been growing exponentially, with the decentralised market becoming more saturated as a result.
Projects are pouring their resources into marketing, attempting to outcompete each other through new tactics of persuasion, in some cases even more so than through product quality itself.
However, resources can get tighter during uncertain times, and force a project to reconsider and restructure their key operations.
With this in mind, how do you market a Web3 project in unfavourable conditions such as a bear market?
Take care of your SEO
SEO is what lands your project at the top of Google's search results, this includes your website, Twitter account, Medium and LinkedIn pages, and every other platform you sign your project up for.
Whether you're technical or not, improving your project's SEO will directly increase your visibility and optimise your platform. To do this you can visit one of the SEO analysis websites like Ahrefs or SEMrush, enter your details and keywords, and see how your competitors market themselves.
It is also worth hiring a SEO expert or agency to take care of the technical details that you may not have the time or expertise to accomplish. This might include proper meta descriptions, page title structures, sitemaps, image optimisation, and more. Note that working on SEO requires thinking long-term about growth, as no change of this kind will reflect instantly on search engines.
The importance of SEO has been made pretty clear over the last decade, but is still overlooked by many. Establishing this from the very beginning will optimise the visibility of your brand, boost your credibility, and help set you up with the best possible start.
Find a growth exploit, stick with it
Every Web3 project is different, even those belonging to the same niche. Audiences tend to respond differently on Twitter, Telegram, Discord, and other platforms, and so a project will need to figure out where and how to appeal to participants in order to maximise engagement.
A growth exploit can be something as simple as liking lots of Tweets and Replies coming from enthusiasts in your specific niche. A social media notification is a powerful tool that can get anyone's attention, thus appearing in users' notifications frequently should be an important target. It should be noted, of course, that marketing agencies have far more sophisticated growth hacking methods.
Start thinking of similar ways to get attention by making individual people feel special, do not be afraid to experiment using a wide variety of tools, and avoid being repetitive in your operations - surprises will always win audiences over.
Gamify your environment
Gamification is a new term used to describe the concept of optimising systems for making a user as incentivised as possible about certain things.
In other words, it's about making a non-game system game-like, whether it's an online community, website, or a store.
Especially in a bear market, a project needs to provide people with the right motivations in order to sustain itself, so gamification of NFT mints, prediction platforms, or liquidity pool mechanics could turn out to be highly effective for your project.
Organising giveaways, competitions, AMAs, and similar events can make your crypto project seem more alive, exciting, and welcoming to newcomers, hence the gamification.
Like-minded projects working on similar problems can be your key to success if you land your partnerships correctly. There are numerous projects out there in the wild, so why not reach out and propose a mutual initiative to grow revenue and increase the project's sustainability.
Hire a marketing agency
Working with an agency can seem like either the most cost-effective & simple thing to do, or a complete time waste - depending entirely on who you are hiring.
Marketing agencies have been around for years, having helped even the largest conglomerates to get where they are today, but you should note that there can be as many rotten agencies as there are ripe.
Some of the first Web3-focused marketing agencies were started only 2-3 years ago, around the same time technologies and concepts like NFTs & DAOs began growing in popularity.
A Web3 agency can provide you with design, content creation, influencer marketing, growth hacking, social media, and a set of similar services that increase your brand awareness, regardless of whether a bear market is lurking around.
Zebu Digital is the ultimate Web3 firepower for any crypto or NFT project, whether you're launching an NFT collection, an IDO, prediction markets, or something else under the Web3 umbrella. It’s worth noting that Zebu Digital has been trusted by brilliant Web3 projects like SparkWorld*, Globe Exchange, Dignity Gold, and many others.
Thank you for reading this short how-to guide on marketing in a bear market! Make sure to follow Zebu Digital on social media, visit ZebuDigital.com to find out more, or reach out to us directly to discuss your marketing needs!