Crypto Marketing Agency Mythbusting: 3 Things Web3 Founders Get Totally Wrong

Most founders in the crypto space have at one point struggled with marketing their products even after being promised impressive traction by external partners.

“Marketing crypto projects isn’t as easy as launching a Shopify store, there are several nuances involved that only experienced and dynamic teams understand.” says Best Crypto Marketing Agency, a website that compares the top crypto marketing service providers in the industry.

In this piece, we’re going to debunk the 3 most myths that Web3 founders are likely to fall trap to when developing a marketing strategy or looking for an external crypto marketing agency to partner with.

1. A Sponsored Crypto Press Release Equals Coverage

While paid for crypto releases have proven to be a reliable way of making key announcements, they’re not as efficient as they were in the earlier days. Crypto-focused distribution services and newsires have recently gained traction as a ‘cheaper’ way for companies to sustain some marketing activity with tight budgets. But how effective is one sponsored crypto press release?

A good number of Web3 founders have been convinced that sending out a single sponsored press release is enough, but that’s far from the truth. Paid for crypto press releases do not have the editorial authority as pieces written by well-known journalists. It is even worse when they’re syndicated across many websites, ending up in the graveyard section.

That being the case, Web3 founders ought to be aware of this pitfall and focus on more longer term strategies, especially pitching to reputable journalists for more credible coverage.

2. You Don’t Need PR Until After Launch

Another common misconception is that Web3 founders don’t need PR services before going live; of course, it comes at an extra cost that most early stage crypto companies would want to avoid. However, looking at the finer details, most crypto firms would have been better off if they hired an external crypto marketing agency from the very beginning.

For starters, the go-to market journey involves the whole product cycle process, from ideation to shipping it. Crypto marketing agencies are a key part in this process given their networks and experience in tailoring strategies that are best suited for this niche. At the very least, a reliable PR partner will set the ground for collaboration with a reputable journalist, develop a short and long term marketing strategy and provide the necessary content if need be.

3. Web3 Community Doesn’t Care About Branding

As much as it may be a very tech-focused ecosystem, Web3 has grown beyond its initial stages where innovators and developers were the only key stakeholders. Today, we’re looking at a $3.4 trillion worth market with several notable companies, including Coinbase which recently became the first crypto firm to join the S&P 500.

This alone emphasizes the importance of Web3 founders building a strong brand from the very beginning. As of writing, there are over 560 million crypto users worldwide, a good number of which are not crypto natives. What this means is that a strong brand stands a better chance of going beyond the limited crypto market to onboarding billions of users who already use the internet.

It is therefore important for Web3 founders to pay as much attention to branding as they do with the core products.