Blockchain is an evolving cryptocurrency technology with huge potential. According to statistics, global spending on blockchain solutions will reach $19 billion in 2024.

There’s no better time to launch your blockchain startup than now. But to run a successful blockchain business, you’ll need to market it thoroughly to make a name for yourself. Here are five practical tips for marketing a blockchain startup.

1. Plan Your Business

Create a solid business plan that clearly outlines what your blockchain startup intends to focus on. State your value proposition and set clear guidelines on how your blockchain startup will operate.

Build a website and add complete information about your offerings. For instance, you can list all your payment portals so customers know the different payment options available to them. If you have a merchant account for cryptocurrency, let customers know that your business can send and receive cryptocurrency and alt-coins. Making such information available on your website can help you build trust with prospects.

2. Find Your Tribe

Establish yourself as an industry expert before launching your product. Build a community of passionate followers and create a name for yourself early on. Find people who care about your project on platforms like Facebook, Twitter, and Telegram.

Produce and publish fresh content about your startup regularly. Join relevant blockchain forums and follow businesses and people you hope will adopt your product. Maintain an active presence on social media and participate in online discussions about blockchain. If you offer value consistently, people will notice and start following you.

3. Partner with Influencers

More than 60% of consumers trust influencer recommendations more than brand-generated content. And the good news is you don’t need a celebrity or a social media superstar with a huge following to publicize your blockchain startup.

Instead, focus on a reputable influencer who is knowledgeable about the blockchain industry. You can create video content together and talk about your startup. The influencer can share the videos on their social media accounts to publicize your startup.

4. Get Featured in Major Publications

Social media platforms like Facebook and Twitter are great places to grow a following but may not attract serious blockchain investors. Serious cryptocurrency and blockchain investors read business magazines like Forbes, Investors Business Daily, and The Wall Street Journal.

Get a journalist in one of these magazines to write about your blockchain product or idea. Send them a short email requesting to be featured. Reporters who write for these magazines may quickly reach out if your blockchain idea offers a real solution to a problem. 

5. Invest in Analytics Tools to Track your Data

Successful blockchain technology startups use analytics and engagement tools to track data. Your analytics tools should measure various customer metrics, such as your product's engagement and likes and dislikes. Only then will you be able to offer practical solutions to your customers and prospects.

The tools should be configurable and customizable since generic results can be misleading. Find analytics tools that are adaptable, can offer real-time statistics, and have strong security features to protect your data.