I believe we must be very aggressive on user acquisition from the start and aim also big whales!
Guy’s share your ideas on how we can do it!
While we decided that marketing and product strategy should be confidential to the company I would love to hear the community ideas. We currently have 2 campaigns and 2 marketing products designed to go live in 2019 regarding costumer acquisition (CA).
But to give some utility on this topic I ask that contributors fill the following question list for their suggestions, we focus only on projects of high call to action (CTA) and low cost per impression (CPM). Please be inventive and avoid obvious things like SEO, referral programs, external media, mail lists and products integrations.
- What channel does this CA project uses ?
- What is the target audience and how does it relate to NEX user base ?
- What are the measurable key results ?
- On a comparable scale with target advertising on Facebook and Google how that compares in CPM and CTA ?
Best,
6 Likes
I know Japanese market is not your target audience but I personally have seen a lot of adverts on regular TV for exchanges like bitFlyer, Coincheck and Zaif. So maybe TV advertising? I’m not sure what you meant by external media but if it falls under that category then please ignore this.
Japan seems like a low hanging fruit/viable market, considering its crypto-friendly reputation.
I would propose to consider these two tactics:
- unbiased technology stories in the press about NEX
- the word-of-mouth phenomenon created by clients sharing their success stories with peers
Building forums that allows these 2 tactics to flourish.
They worked out pretty well for Salesforce when company was very young and Siebel dominated the market.
A launch party could be a great way to build buzz. Select journalists to join the event. Sure the NEX Team prior to that should cultivate relationships to these journalists. If you can feed them constantly with information that you think can helpful to them so they might become NEX friends. Developing these relationships can provide tremendous opportunities.
And of course we the community should spread the word about NEX and sell exciting stories.
I am not sure if you have read the book “Behind the Cloud” from Marc R. Benioff but there is many things in it that potentially could work for NEX as well.
4 Likes
Korea has to be an obvious choice as well I rekon, the big Asian countries are adopting faster than the west. I’d say go for Japan, Korea and Hong Kong (China)…
1 Like
Please be inventive and avoid obvious things like SEO, referral programs, external media, mail lists and products integrations.
I think most people would support a referral program, which is obvious, but nevertheless a good idea. Since there was leftover NEX from the token sale, this could be used as an incentive.
1 Like
We are creatures of habit and let’s be honest we like things free. Things like better UI, easy of use etc are just words which aren’t initially convincing me to swap from my original platform, unless I have tried it myself and can really experience it.
Real life examples:
-You walk passed a food car where they are handing out samples, you try,you liked it, you purchase.
-You’ve got a free trial version for 7 days with all/limited futures of the product. I wasn’t really sure if I needed product X over product Y but since it was Free I gave it a go. etc etc
So my suggestion would be to offer new users a free trading experience for a limited amount of time (or limit on $ value traded), so they can actually handson experience all the unique selling points. Once you’ve got one foot in the door it’s then up to the quality of the product to seal the deal.
No trading fees on it’s own have previously never convinced me, since those Cexes were never offering anything new. For people who see the importance of owning their own keys no fees is not super interesting. For people who are indifferent to that, no fees removes that initial entry barrier.
In terms of cost I wouldn’t know. Trading fees for the trial period would be missed but then again if that user wasn’t initially planning to use NEX you wouldn’t have received those fees in the first place, so kinda like a vicious circle 
.
CA: Freebie/Free sample
Target Audience: Existing crypto users
Results: New users obtained / Retained
3 Likes
There is also this sharing campagne on social media by user so that they can be rewarded. The company gets the sharing link through the website were all users copy their sharing link were they have shared Short adds predesign by the Company. I have seen companies make real well with this technic. I remember MMM Global though they scam. But their marketing campagne really work well.
maybe its possible to give fees from companies dividends!
1 Like
2 Likes
My company sells a consumer product (outdoor hardware) that has near zero brand recognition, low YoY sales, and is nearly extinct. My team was tasked with increasing sales using whatever tools we had at our disposal (aka very few resources); here are some of the insights I can provide with the work that’s been completed the past half year:
- How do you communicate that a product has a need? Build a narrative that identifies a user’s pain points
- How do you retain customers? Develop a product that is reliable, easy to use, and solves a meaningful issue (can’t emphasize reliability enough; with NEX security is another imperative)
- How do you cultivate brand loyalty? An effective campaign draws its strength from the first two points: strong story and excellent product
This basically reads like a Marketing 101 textbook, but with this strategy we reduced our CPM from $1.47 down to $0.27. The ad campaign we ran on Facebook spoke to a key aspect of the end-user’s experience outdoors and we received plenty of anecdotes and picture shares as responses to our post (with hundreds of re-shares). With the new campaign we’ve also updated our sales goal to project a 15% increase this year.
I believe a campaign that highlights the following pain points existing exchanges have will be quite effective:
- Funds stuck on exchange?
- XYZ Number of exchanges have been hacked?
- Users sending tokens to wrong addresses
- Etc, etc.
4 Likes