Bear markets don’t happen once in a blue moon. It’s a pretty common occurrence for an ecosystem with less than 15 years of history. With how often the market changes its direction, it is best to have strategies in place for every one of them. While some might choose hibernation for the downtime, others would be quick to make the most of the quiet to surpass the former on all fronts.
In this article, we want to show you that you might benefit from treating the bear as a friend, not a foe. But if you’d instead leave these activities in the hands of crypto marketing professionals, count Majinx in!
Why market during a bear market
However huge the crypto industry might look, with close to 20K listed blockchain projects, it really isn’t. And those projects that both stick around AND show activity during the downtrend gain respect from the community.
“Investors and users alike find the projects that keep going regardless of the market state more reliable and trustworthy. It’s like with friends that stay with you at your worst. You tend to trust people who show you they’re in for the long run, not just when the situations are good.” Irina, CMO & Head of Strategy, Majinx.
So while the market drop might look like the best time to concentrate on developing your project and updating features, you shouldn’t put a stop to your marketing activities altogether. You just need to be more thoughtful about it, choosing the right strategies and tools that fit the situation.
Depending on your project’s target audience, there are two strategies you might find advantageous during the bear market:
- Boosting awareness
- Grow engagement
Let’s look at what each of these strategies implies and how they can help you amidst the drought and even after it ends.
Boost awareness
Even if your primary audience is the people who would rather wait out the bear, showing them that you’re going strong is your chance to demonstrate reliability. Use an emptier environment and long-term marketing strategies to benefit from the quiet of the market. Here’s what you can do.
Improve SEO
As your competition cuts their budgets and hopes for the best, you can easily outrank them. And while SEO is something you will need to go back to from time to time, your efforts won’t go to waste.
- Analyze your competitors with tools like SEMrush, Serpstat, or Ahrefs.
- Find out what has been working for them in terms of SEO.
- Improve your website and blog to climb up the rankings.
Making all those enhancements while others stitch to product development is your chance to make them play catch up with you when the bull returns. They will have too many things to cover simultaneously, while you’ll only need to make minor adjustments.
Produce relevant content
Depending on your target audience, different tactics can work. The strategy is the same, though. Address your users’ current fears and needs by creating relatable and timely content. Helping your clients during hard times will boost the authority of your voice, and it’s never a bad thing. You provide value to your existing and potential audience by producing bear-market-related guides, videos, etc. Traders, investors, and NFT collectors can significantly benefit from the downtrend, and if you aid them in making that profit, they will likely stick around once the market resurfaces.
Grow engagement
While convincing your audience that the bear market is the time to invest in your project can be challenging, persuading them to join your community and engage with your free activities works just fine. Concentrate on marketing tools that create value while also giving your potential users the reason to follow you.
Create valuable tutorials
While the market is on the rise, it’s challenging to find the time or the funds to invest in these types of videos. The production might take up to eight weeks, and it might seem like forever in the fast-paced crypto environment. At the same time, the bull market requires you to spend more of your funds on short-term promotion activities.
This is why the bear market is a perfect opportunity to take your time and create highly professional videos about your project, explaining it in great detail to the newcomers. This content will remain relevant as long as your project lives, with only minor updates whenever needed.
Incentivize the audience
The competitive nature of a human being coupled with the unquenched thirst for rewards is a pool you can exploit regardless of the market state. And while your budget might feel tight, the emptiness of the market will prove to be worth it.
From Bug Bounties to Airdrops to other competitions—these tools are perfect for grabbing the attention of those trying to hold on to their coins. And be assured, crypto-enthusiasts will take note of your generosity during the hard times and stay loyal to your project long after.
You reap what you sow
And if you’re looking for higher ROI on marketing, now is the time to plant that seed. Take advantage of everyone else’s stupor to gain weight in the market, improve the quality of your audience, and get your product ready for when the bull returns.
If you don’t have the time to create a long-term strategy and plan all those activities, you can always rely on Majinx to help you out. Please request a quote to get our full attention!
