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How to promote DeFi projects

By ICODA Agency | ICODA Agency | 7 May 2021


Decentralized finance. How much has already been said on this topic, and how much incomprehensible remains in it to this day. This sphere is called the next stage in the development of cryptocurrencies - perhaps it is. So far, DeFi does not occupy such a large part of the market, but the prospects are obvious even for those who have an extremely indirect relationship to cryptocurrencies.

 

For the owners of the DeFi business, the market has certain difficulties. The first and main of them: how to promote your project in conditions when such startups grow like mushrooms after a good rain? From the point of view of marketing, this is a very, very difficult task. Moreover, the main snag lies in the specifics of the business itself. Here you need to remember that the promotion of cryptocurrencies in any advertising systems, such as Google Ads, is prohibited. What can we say about advertising systems there - even Facebook does not allow you to set the target if there is at least a hint of belonging to the crypt in the announcement. Many will now try to object, they say, there are ways to circumvent the prohibitions! Of course, there is. But have you measured how much the effectiveness of your advertising campaigns is declining after such manoeuvres? Exactly.

 

For DeFi projects, there are two most effective outputs that can really contribute to the project's entry into the market, as well as the definition of its own niche: it is community marketing and PR. Perhaps it is worth immediately understanding that both methods should support each other and effectively complement - only then can the promotion be called complex and effective. The main work pool should focus on connecting influencers. Twitter is now considered the main engine for progress in the crypto environment and, it should be noted, quite deservedly. The obvious advantages of microblogging are extremely impressive by all market participants: speed, brevity and conciseness allow you to be, as they say, "on the tip of the knife." At the same time, do not discount and YouTube. However, it seems to me that through the famous video hosting, mostly newcomers come in. But be prepared for the fact that cooperation with influencers is a very, very difficult story. Each of them values their audience and therefore puts forward certain requirements not only for projects with which they cooperate but also for materials that are offered for promotion. In other words, each influencer meticulously approaches the audit of the project. It is here that PR should perform its function. In addition to offering influencers enough high-quality materials that may themselves interest potential customers of your project, puzzle your PR player with the need to create a supporting function for working with the community: to develop a list of sites for publishing influencers in the media, to pay their attention to your community - all these are rather difficult, but curious tasks that your specialists will face.

 

As you have already understood, you should not hope for traditional marketing tools. Under existing restrictions, they will help you. Try not to think in a template and turn to finer tools. If you make them work in a bunch, then your project will undoubtedly come to success and earn its audience, which is the ultimate goal of any startup.

by Vladislav Pivnev
CEO of ICODA Agency



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