Yesterday there was an animated discussion around the topic of marketing on Mumble. I wasn't able to be there for the whole discussion since I had to deal with something else simultaneously but it was great to know that people are interested in having a holistic approach to marketing.
As Fuzzy mentioned in an earlier episode of beyondbitcoin, I believe that having a multisig account and a worker's proposal to fund marketing development is vital. That way, we don't have to approve every single marketing move and we can simply have a marketing budget rolling.
How soon can we get this rolling?
Quick Move While We Build A More Holistic Plan
Yesterday, most people agreed that we shouldn't only focus on advertising and hope people join and invest in bitshares. There is a lot more to this puzzle than simply "spray and pray" with advertising dollars. We have to make sure people are on the troll box talking, build videos to teach people how to use the exchange better, be at conferences, etc.
BUT, while we build that holistic plan, I believe there are things we can start doing right now to get the ball rolling. Bitshares has many products and the the angles to market the platform are endless. But I do believe that if we can just get the exchange working, all the other products and business models will fall into place.
The product: The DEX - The Exchange On The Blockchain
The target market: Crytocurrency Traders
Problem that it solves: The Only Exchange Where You Control Your Private Keys. Fast, Fun & Secure
Why the DEX is the main product to market?
As outlined above, it's a product that is working right now. It's the flagship product of this community and it's working well. There is still improvements necessary in terms of liquidity, but most of them can be solved via more users and more trading bots. We seen an increased use recently and I believe it's good enough for someone who wants to join the future of cryptocurrency exchanges.
Why the cryptocurrency traders is the main market for the DEX?
They are the most likely to understand the jargon of the blockchain and also understand the mechanics of an exchange.
Here is what I'm proposing for a plan of action:
- Build a landing page that we can A/B Test (Possible template: https://www.trading212.com)
- Run Ads on Coinmarketcap and other websites where cryptotraders hangout
- Run trading contests of $500 per week for the best market maker and/or other activities we want to promote on the exchange.
I would like to have your feedback on this plan. There is much more we have to think about and plan for beyond this tiny plan of attack. But this at least will get something out there that can be tracked and improved. With multiple A/B Testing we can figure out which headline or value proposition resonate the best with the cryptotrading community.