After the burst of the bitcoin bubble back in 2018, companies and the stakeholders have become more critical of the technology. The adoption has become difficult but if a company successfully delivers value, the adoption is inevitable.
However, I can sit down with someone and talk all day about blockchain, supply chains, and the increased awareness we’re seeing compared to when we first got into the market — it won’t matter.
The last question will always be: “So, what do you think the price of bitcoin is going to be next week?”
Yes, it’s great that cryptocurrency and financial applications are finally getting mainstream coverage. But that tends to come at the expense of other applications for blockchain.
This begs the question: How can we reach our customers on the value blockchain delivers not on what the price of bitcoin will be next week?
Here at Jura, we have discovered three ways in which we can have a conversation around this topic on the merits and potential value of blockchain.
Education First Approach
Traditional marketing strategies don’t work as well for an emerging technology like blockchain.
It’s not as simple as buying advertising space or driving traffic to a website.
You can’t properly market a product to someone who doesn’t understand it.
Educating the market about blockchain is essential if we want to get people interested and on the path to becoming customers.
At Jura, educational content is at the heart of our marketing strategy. We’re most successful at educating when engaging with people on social media or at a speaking event, on a panel, or face-to-face with a customer. It gives us an opportunity to share what’s happening in the industry. And we want to share not only what we’re doing but what our partners and other companies are doing.
Build Hypothetical Use Cases & Show Business Value
At the moment, we can’t just list our blockchain products and solutions and hear people say, “Ah, okay. I understand this. I know what you’re selling.”
The best practice right now is to provide real-world examples and thought leadership to ground people in the possibilities of blockchain.
Before delving into implementation, look through the catalogue of our case studies and tech explanations. Gathering and familiarizing yourself with the basics of technology is crucial before you start talking about implementing it. We at, Jura, make sure our potential customers understand the value from a business point of view not just the technology point of view. But before that, we make sure that our customers successfully understand the underlying basis of this new technology.
The influence this makes on the mentality of our potential clients is significant, and it helps us explain the practical applications of blockchain in a more productive manner.
Focus On Unbiased Sharing Of Knowledge
The biggest growth strategy for blockchain-based companies is the formation of ecosystems or networks around a particular solution.
This is where influencers are incredibly effective. They have the ability to bring a group of people together around that specific use case.
And it’s not just individuals.
Blockchain also has the ability to bring together groups of competitors to build new infrastructure for the future.
A good example is what we do at Jura with the blockchain’s developers community. Every month in our meetups, we bring together aspiring blockchain developers and educate them about the technology. We do not do that in isolation but we make sure the business aspect and use cases are covered. We have group discussions and ideas sessions. The main goal is to think about the customer when developing a blockchain solution. This is what will make blockchain enter the tech stack of the mainstream market.
The best way to commercialize the different uses of blockchain is by building an ecosystem or community with a specific solution in mind. It’s essentially a collaborate-to-compete model.
The Way Forward
Sharing is the true spirit of decentralization and the blockchain community.
We’re trying to create an open form mentality, not only sharing use cases, but also knowledge and experience. We need to be sharing data, not competing in a way that creates data monopolies (similar to what we saw in the early days of the internet).
That attitude of sharing and collaboration isn’t just important for building incredible code or blockchain-based ecosystems — but also for building the right industry reputation and a solid marketing strategy.
It’s going to take time, but building a community with its own set of checks and balances will go a long way towards promoting blockchain and educating consumers.
Thank you again for supporting us! We always appreciates your support and company.
‘Till next time.
