A lot of businesses are coming up from the cryptocurrency world. The industry is very wide, and you can get a market gap to start your own company. The only thing you need to worry about is whether your crypto startup will stand out. One needs to be unique to attract clients.
Cryptocurrency started in 2009, with bitcoin being the first project. The success of bitcoin has given rise to thousands of startups. But the tough competition makes it difficult for some companies to grow. In addition, it isn’t easy to make a brand name among thousands of companies.
KuCoin is one of the startups that started in 2017 and has been successful. Its main purpose is to offer a currency exchange service. Although it came after other similar companies, it has managed to stand out. This is because startups brand themselves and find a space for their products. Here are some tips collected from KuCoin on how a startup should thrive:
Rotate around your unique selling point
For a crypto startup to stand out in the market, you need to offer a unique product or service. Your clients or customers must be aware of your product and how it is different from the rest. Come up with a clear explanation of the problem you are solving in society. Furthermore, you must look at and analyze what competitors are doing.
Collaborate with other startups
If you want to grow your skills and knowledge, you need to meet people chasing the same goal as yours. Networking with other startups will make it easier if you need help in the future. Also, it opens other opportunities like getting a new audience from their clients.
For example, KuCoin Labs collaborated with Blocktopia, a platform built on top of polygon. While launching their exchange platform, they invited Avalanche, Cointelegraph, Solana, among others. In addition, the partnership generated some media outlets for acquiring new clients, a report by entrepreneur.
Come up with a clear message.
Almost all businesses or companies have a mission and vision. Before you launch your company, there must be an attractive message for your team and audience. Is it a DEX on KCC or a blockchain startup running on MMORPG?
This message will help people identify where your business lies. It will make your crypto startup stand out. Marketing is always given a large share of financial assets; hence you need to have an easy message for clients to understand. Therefore, an idea must come with a good message and themes.
Become or hire a marketing expert
People tend to undermine this step, but good companies have never gotten tired of marketing their brands. It would be important if you had an expert in the marketing department. If you have fewer funds, then learn a lot about marketing. It will assist in identifying the best marketing campaigns for your audience.
For the crypto startup to stand out, you need to understand your audience’s source. For example, India and Brazil use YouTube to find their audience, while Turkey uses crypto-tracking websites. So to analyze your audience in different countries and choose the best media.
Attract investors
Many crypto startups have struggled with financial difficulty during the pre-seed season. If you have potential investors, then be sure to increase your workforce. If you collaborate with a top name, you will boost your marketing campaigns. For example, Elon Musk boosted Dogecoin, gaining positive momentum
Let your crypto startup have a mobile app.
Statistics show that 67% of the traders use mobile applications over a desktop to trade. Of course, a website is the best place to start up with. But developing a mobile application after a short success might be helpful. Ensure you have both Android and iOS apps. Create an interactive and user-friendly app that might be simple and easy to use without guidance.
Ensure you hire a qualified, skilled technician to test the application before launching it.
Customer support
Almost every business that is running has customer support. There is always a help desk at the reception if it’s physical. However, you must have online 24/7 support. Your customers need to feel satisfied with your product. US statistics showed that 75% of customers use support to test if the business is legit.
Be strong and stand out.
Launching a new crypto startup is a tough journey that requires a strong heart. Your main focus should not be whether customers will like it or not. Instead, put a lot of energy into adding value to your clients. Don’t be afraid of tough competition; every business experiences the same disease. But if your company is doing great, people will automatically like it.
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