Why paid advertising in a bear market?
As per the words of our respected CEO this bear market is no reason or an excuse to not commit to concerted marketing. To be honest he concluded this discussion by saying “if you believe in the platform you’re rolling out and the quality of the service you are offering it does not matter what state the market is in.” Do not think anyone can deny the value of his logic and as such we have committed to our mainstream advertising by putting out an advert on Facebook.
However, we did not go all out just yet. We placed the ad for only the greater Paris area of France to evaluate whether Facebook advertising is to be how we want to firstly cultivate trust. We know the market is in the state that it is because of all these scandals related to exchanges and marketplaces and so it is imperative that we be clear on what it is that we are seeking to achieve. That being that we need to cultivate trust primarily. We know that familiarity breeds trust but even better would be how we become a familiar sight and as such the sample test on Facebook.
Now Facebook is not a verb like google yet but its policies especially regarding advertising gives even the most sceptic of us the confidence to click a link, which is why we started on there. There are already some positives to report from the experience. Even thou we did not necessarily set out to get conversions from this advert we can confidently say that for the 14000 people we have reached we got some conversions. Nothing noteworthy but the few tells us that our approach and presentation inspires confidence. This is elements we can build on toward increasing trust going forward. Formal findings thus far are that Facebook as a medium has much more than just the potential to complement our efforts.
Whereas Facebook does the trick for us thus far it will not be the only mainstream platform we intend to explore. For us as a team it is the road less travelled that we are most interested in. The kind of platforms others are not looking at but has huge conversion potential. We most definitely want to shake that underground feeling that the most successful crypto initiatives cannot even shake but at the same time we do not want to be too corporate looking, and this is where these Off the beaten path kind of mediums play a role beyond just conversions. They could play a role in what kind of character we are perceived as.
It remains our ambition as a team to ensure you the investor get the best of services all around and we are not in denial as to how much of a value adding service marketing is especially regarding a crypto initiative. We are intent to stay out of the box on this and research is of course ongoing, one such platform we are looking at making inroads on is the WeChat of Japan, an app called Line which has 97 million Japanese users and is very much untapped in terms of crypto marketing (hope we not giving away our game plan too much here).