Quote
Guy @ Bancor
First let me give you my general philosophy on marketing consumer internet products.
You never saw ads for Facebook, Instagram, Twitter, WhatsApp, etc.
The reason is that all growth for consumer internet apps always comes bottom up.
Everyone that tried to market by force a consumer internet app always failed 100% of the time.
Having said that we can divide our project in to a few verticals:
1) Token changers : once deployed, these should be marketed to the crypto community as its more comparable to a B2B product. It saves you money. Once deployed we will run an aggressive marketing campaign later this Summer.
2) End user long tail : Schedule for end of year. This is where marketing is less effective. Instead, what we will focus on is finding the relevant launch partners and early adopters who will be initiating their local tokens. We will support them with capital and HR resources.
Like blogs, subreddits, etc... The funnel to growth is from regular users experiencing the product themselves and then a percentage of them become superusers. For example, no one woke up in the morning and decided to become a blogger. Instead, they started our reading a blog... And then thought to themselves, "I can do this too", " I have an idea".
Our focus with the long tail is tuning the product to be organically viral.
3) Project Tokens(such as Stox). This isnt really marketing. Its biz dev. And we are doing it aggressively. We currently have over a dozen active discussions with upcoming high profile ICOs. I believe we'll see at least a dozen ICOs using the Smart token standard this year and 100+ next year.
4) High profile wins : We are in discussions with a number of major platforms (with millions of users, in one case tens of millions) to initiate platform level partnerships. This is in a way a combination of #2 and #3 via a 3rd party platform.
5) Index funds :Discussions have started with various financial institutions around launching token baskets. We are focusing on both crypto businesses as well as non crypto mainstream financial entities considering asset tokenization.
Finally, let me say that while we of course only want to see the price go up, please understand that the team doesn't day trade, and like any 'public' company we can't be reactive to the 'stock' price on this or that day.
We recognize there was a lot of flippers early on. We also recognize that Bancor is not a trivial concept to communicate.
Our efforts beyond the above are focused on a few things whose fruit isnt picked overnight but requires a few months:
A. Redoing our messaging to more cleaely explain Bancor and the concept of the automated market maker
B. Relaunching Bounty programs: they were wildly successful and gives everyone of our supporters a tangible way to help the efforts. These will launch around the first week of August
C. Growing the team. This is key. We were 15 by the time of the ICO. We have growth target of 40 by end of year and 100 by end of 2018. We will be opening offices in Tokyo and Shanghai in early 2018. All these actions take time... and from experience I can tell you growing a team from 15 to 100 is a very dangerous process. Maintaining the amazing company culture we have today as we scale is critical and this is probably the single biggest risk factor we now face.
First let me give you my general philosophy on marketing consumer internet products.
You never saw ads for Facebook, Instagram, Twitter, WhatsApp, etc.
The reason is that all growth for consumer internet apps always comes bottom up.
Everyone that tried to market by force a consumer internet app always failed 100% of the time.
Having said that we can divide our project in to a few verticals:
1) Token changers : once deployed, these should be marketed to the crypto community as its more comparable to a B2B product. It saves you money. Once deployed we will run an aggressive marketing campaign later this Summer.
2) End user long tail : Schedule for end of year. This is where marketing is less effective. Instead, what we will focus on is finding the relevant launch partners and early adopters who will be initiating their local tokens. We will support them with capital and HR resources.
Like blogs, subreddits, etc... The funnel to growth is from regular users experiencing the product themselves and then a percentage of them become superusers. For example, no one woke up in the morning and decided to become a blogger. Instead, they started our reading a blog... And then thought to themselves, "I can do this too", " I have an idea".
Our focus with the long tail is tuning the product to be organically viral.
3) Project Tokens(such as Stox). This isnt really marketing. Its biz dev. And we are doing it aggressively. We currently have over a dozen active discussions with upcoming high profile ICOs. I believe we'll see at least a dozen ICOs using the Smart token standard this year and 100+ next year.
4) High profile wins : We are in discussions with a number of major platforms (with millions of users, in one case tens of millions) to initiate platform level partnerships. This is in a way a combination of #2 and #3 via a 3rd party platform.
5) Index funds :Discussions have started with various financial institutions around launching token baskets. We are focusing on both crypto businesses as well as non crypto mainstream financial entities considering asset tokenization.
Finally, let me say that while we of course only want to see the price go up, please understand that the team doesn't day trade, and like any 'public' company we can't be reactive to the 'stock' price on this or that day.
We recognize there was a lot of flippers early on. We also recognize that Bancor is not a trivial concept to communicate.
Our efforts beyond the above are focused on a few things whose fruit isnt picked overnight but requires a few months:
A. Redoing our messaging to more cleaely explain Bancor and the concept of the automated market maker
B. Relaunching Bounty programs: they were wildly successful and gives everyone of our supporters a tangible way to help the efforts. These will launch around the first week of August
C. Growing the team. This is key. We were 15 by the time of the ICO. We have growth target of 40 by end of year and 100 by end of 2018. We will be opening offices in Tokyo and Shanghai in early 2018. All these actions take time... and from experience I can tell you growing a team from 15 to 100 is a very dangerous process. Maintaining the amazing company culture we have today as we scale is critical and this is probably the single biggest risk factor we now face.
