Cryptocurrency · Marketing Strategy

How to find a social media marketing maven in the blockchain space.

Chris Ziomkowski Founder/CEO XTend Online, Caltech, Ex CTO in US public co., Thought Leader AI & Blockchain

April 27th, 2019

We have a great product in the cryptocurrency mining sector. I don't just mean good, I mean demonstrably fantastic. My partner and I are both technical, and we need to build a community in order to raise the funding necessary to tapeout this product. We are having trouble finding someone who can promote this over social media channels. We have already lost over $5000 being scammed on three different attempts by people who claim they will do something, and then just run off. That doesn't mean they did poorly. It means they scammed us from the outset. We are now critically low on funds, and need someone who can deliver results.

How can we find an honest social media marketer who will actually get our message out into the general public at a price we can afford? It seems everyone in the cryptocurrency sector is out to scam, rather than provide an honest service.

No exaggeration, this company is going to be a unicorn if we can get it moving, but neither myself nor my partner are social people, and we are struggling to get the marketing side moving.

Any thoughts on how to find a social media marketer who understands the blockchain space, and is both honest and capable? And how do we prevent getting scammed a 4th time?

Paul Garcia marketing exec & business advisor

April 28th, 2019

This (funding) is not something that is solved by social media marketing. Social media marketing has nothing to do with specific industries. It is merely a channel of communication, like direct mail, telemarketing, broadcast, print, etc.

It probably has very little to do with being scammed, and much more to do with the fact that social media marketing is not a fundraising tool, not a product launch tool, not a broadcast platform at all. Your expectations were not set correctly. You can't develop a community quickly in social media. Social media is not Public Relations. And social media may be entirely the wrong channel for your objectives because the audience you hope to attract does not look for the type of information you wish to spread in that channel, or at the time when it is relevant to your message.

I'm sorry that your contacts were less than illuminating on what SM can and cannot do before you agreed to pay them. I'm not sure how they got paid before they delivered the promised results, but it's late for that now.

Blockchain is a topic. What you seem to be looking for is someone who understands the topic and can spread your message in the communities that discuss blockchain-related subjects. I'm going to assert again that this is probably not going to be best accomplished in the common social media platforms.

My guess is that you're assuming SM is the right channel because it meets your cost parameters (low cost large audience), but an unfocused effort like that is still throwing good money down a hole. It's just not where you're going to get the kind of reaction you desire.

I don't know what tapeout is. But generically, one does not have a great product and then seek funding. One has to test their product-market fit to validate the product is perceived as great and that it solves a problem other people are willing to pay to have solved. Only your intended audience can say you have a great product. Until they do, you only have an untested idea and nothing more. It sounds like you haven't tested your audience, because your next step is seeking funding, instead of refining your strategy.

I'm very sorry that you lost money. $5K may have been a lot of money to you, but it can easily cost many multiples of that to execute an effective SM campaign, assuming you already had a usable product. What you do have is time.

I would encourage you to curb your enthusiasm to win hearts and minds of funding sources, and really take a big step back to developing your marketing strategy, testing your assumptions, and validating the future of your product. Marketing should always drive product development, not the other way around.

When you can walk up to an investor candidate with concrete proof that you've tested your product's market fit, that people are willing to pay $xx for it when it does ABC things, that you know where your audience is living and listening when they are seeking help with the issue your product solves, and that your assumptions have all been tested, you won't need a social media campaign to raise funds. They'll write a check because it's a low-risk situation with clearly defined parameters.

Good luck.

Ramiro Montes De Oca Founder & CEO

July 4th, 2019

You should check Joe Apfelbaum on Linkedin! ... He good at this.

Jeremy Robertson Entrepreneur with a mindset for the moon.

June 15th, 2019

Chris. I am in the social media marketing field. I would love to give you guys some work. It's really shameful that so many of these companies have just been trashed by shameful fly by night marketers. I see it happen time and time again. Feel free to reach out and we can go over some of your goals.