B2B Marketing for Blockchain Companies

16 Oct

B2B Marketing for Blockchain Companies

By B2B companies, B2B Marketing, Blockchain, Blockchain Technologies

In a recent PwC study entitled "Blockchain is here. What’s your next move?”, 600 large enterprises across developed countries, clearly outlined the need to follow the emerging blockchain technology trend. But as in a beautiful story, they do not know how. Furthermore, regulatory uncertainty and the lack of user trust makes it a pretty complex scenario. With the massive potential of Blockchain to solve major global economic challenges like establishing robust and watertight data traceability for goods, governments are open to promote Blockchain investment and development, some countries leading the forefront of adoption.

Although blockchain technology is predominantly used in the fintech world, it is, without doubt, creating rippling effects on the whole business ecosystem. Even if you are a Blockchain skeptic, take a good look around you, and you will notice that you are already contributing to a blockchain enabled technology, service or solution. I was also surprised to find out how many I am seamlessly adding to my day to day life or being a part of, some of those being even in my top 10 favorite technologies. If you are curious, check out Patreon and you will be addicted to the value based influencer system Japan's leading blockchain company was able to develop. How about the very technical ones? I am sure you heard of Buddy or Goldilock.

As Sweden decided to renounce physical currency, as economies become more decentralized, there is this real push from the public, but also from the businesses blockchain emerges as a logical answer to the enablement challenge of a transparent value based ecosystem. I am still a cryptocurrency skeptic. The blockchain is technology and is as good as technology gets. However, it has been cracked before. In the financial and securities world, where warranties are paramount, we are still a long way to go before ensuring safe transactions although every error and fix brings us one step closer to what it should be.

In Marketing for Blockchain Technologies Safety Should Be First

This brings up one of the key areas to focus in marketing for Blockchain technologies, and that is showing people how secure is this technology, how this space is evolving, what are the options if the technology fails and what is the net safety. I have seen many marketing campaigns focused on explaining what it is. I think people get what blockchain is, as they got what Paypal was in its time and as early adopters will always embrace new technologies. Most of your audience is wondering how are you going to ensure the system is flawless or close to it.

Educate, Educate, Re-educate!

Although you believe they understand what it's all about, educational videos, webinars, articles, viral series, buzz and anything else you can think of should be focused on training people to understand not on just what it is but what is it good for.

What is it used for, why blockchain vs. the traditional way of doing business? What benefits should someone get if they use blockchain technology? Most of the companies would cover only the first step of the education process missing out on all the rest. Make a Youtube search for what is blockchain, and you will get a tone of videos. Search for the benefits of the blockchain, an astonishing number of 2-3 video are actually on this topic, the other ones... you guessed it, are still on what is it. In fact, there's quite a significant discrepancy that is eloquent of the market maturity.

In B2B It's All About Vetted Relationships and so is Blockchain

The most performant B2B marketing and sales processes are based on relationships and responsibility, and so is blockchain. Blockchain is all about peer to peer validated relationships, so I think we are in the early stages of new emerging models where blockchain will be used to validate the business value in B2B, very hard to establish these days, other than through on's relationship and credibility.

Branding is key and will unlock the market potential

I recently tried to install a bitcoin wallet and most of the options are quasi-unknown. It is like having to choose to deposit your money with 10 unknown banks and these are all the options available. The risk factor is over the roof when a whole new market presents you with so many unknown factors.

A strong blockchain player, focused on branding, creating a safe and mature image, investing in all the market education cycle and talking less about the novelty but more about the benefits and applications will swap the market at any point and will leave all the current ones struggling into the "what is" small market playground.

Is There Room for the Traditional B2B Marketing Methods?

Most blockchain marketing is centered on videos, whitepapers and ebooks and some emerging webinar or training series. As B2B marketing is focused on person to person marketing, the blockchain marketing should initially mimic the traditional B2B marketing methods and hopefully, evolve into a creative customer or prospect accepted marketing techniques like the BAT compensated opt-in ad subscriptions.

Emerging B2B marketing models

Blockchain will change digital marketing in the future and I am more optimistic about the use of technology in marketing than in fintech actually, because it's a lower risk and a higher return win-win business model. Maybe marketers will figure out that although decentralization is not a real concern, but a natural way of self-organizing business ecosystems. Moreover, blockchain technology providers will make the technology adoption seamless and not complicate the "natural" way customers buy into, based on the relationships. This will translate into listening more of the customer narrative and enabling real 2-way communication of the marketing message.

As with blockchain, I hope this article provides more value to you than structure. Drop us a line if you found this helpful or if you have any further suggestions to the thoughts presented in this article.

Contact us if you're interested in finding out more about blockchain marketing strategies and planning that works, seamless technology adoption by users and how to get over the chasm of technology adoption cycle.

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