By: Nicholas Jennings, CMO, Naoris
A few months ago, just starting as CMO for a blockchain start-up I was looking for tools, techniques and ideas for positioning the business as the next big thing in cybersecurity. Working as a marketer in an entirely new and competitive category was all sorts of new to me. I knew a few things for sure; because Naoris is not just a blockchain start-up, but rather one which operates in the domain of cybersecurity, it was important to make clear that we are credible. Security will always be a place where trust is the cornerstone. And if you’re talking ‘trust’ and ‘credibility’, you need to seek opinion from those who’ve walked the walk. I’ve always seen value in seeking counsel from mentors. In my quest to find strong mentors, I came across Nimrod May, the CMO for Sirin Labs. The company has made headlines over the last year, most notably for generating $157.8 million in ICO for its Finney blockchain phones and PCs. The cherry on top: Signing Lionel Messi as an ambassador. Fortunately and much to my surprise Nimrod was open to speaking with me. I suspect after the success he’s enjoyed, sharing knowledge becomes rewarding. It also speaks to a rather humane aspect of the blockchain segment: Collaboration. From London, I spoke with Nimrod in Tel Aviv in what was an illuminating and lively conversation.
NJ: Vision — how important is this? What makes a good vision?
NM: You need a marketing took kit. Vision is a must, it’s the most important stepping stone, defining your objectives drives the marketing plan. It’s a road that must be walked. Figuratively speaking, take a stone, write the name of the project, throw it as far as you can. I’ll quote Jonathan Livingstone’s book, Seagull. Soar high, see far. The higher you go, the farthest you see.
NJ: What is the Sirin Labs vision?
NM: Bridge the gap between blockchain and mass market, through integrating user experience, security and privacy.
NJ: What are the most challenging parts of an ICO?
NM: To professionally manage a community and expectations with society. You will be crucified with every mistake you make.
Some stats…
The crypto market is about 10 -15 million people who have already acquired crypto, they are in lean mode. Then there are a billion people in forward mode, who want to obtain their first tokens. They’ve heard the stories. They want to join in the fun.
• 90% are male
• 10% are female
Key markets: North America, Asia Pacific
Up and coming cities: Berlin, Copenhagen, Spain, London.
Three groups exist:
• Speculators — they’re sussing things out and want to make money
• Mischievous users — money laundering, drug, trafficking — looking for financial instruments for criminal activity
• Financial people looking to make new business
Don’t worry about budgets, every number is a good one.
ICO Stages (three)
• Pre-ICO
• ICO
• Post ICO
NJ: What makes a good marketeer in the blockchain space?
NM: Marketeers need to encompass three attributes impossible to posses in one person:
• The creative: Great ideas, blue sky
• The psychologist: Understanding your market
• The scientist: Measurement
NJ: Biggest challenges for a blockchain start-up, in ICO mode?
NM:
• Managing large communities. We have an entire team, 40 employees answering telegram. We’ve created the relationship with our community.
• Localising — Trying to understand how to speak with people in Japan, not being familiar with cultural nuances.
• Cyber security issues, phishing — We’re dealing with countless attacks.
• Story telling — community must be very engaged. Media outreach, trade publications, telegram are important.
• Managing the media campaign — What is the matrix acquisition cost per contributor, to reach positive ROI? E.g. $100 dollars to bring a contributor in crowd sale, if he/she contributes $1000, it’s an obviously positive ROI.
NJ: Given a limited budget, what are the must haves or the areas of marketing you would without doubt include?
NM: Positioning — you want to show that you’re better than other projects. You want people to contribute. Tell them what a great project you are, get advocates.
NJ: How do you come up with marketing campaigns?
NM: I’ve had a pre-defined path, I can’t write code, I must take the code written and make it sound like music. On a daily basis I have a meeting with team leaders, product to r&d, in our studio, we find key spots in projects that might create a positive effect once they are told to the community. This translates into engaging news bits.
NJ: What do you know for sure?
NM: The single most important thing: Build a brand with emotional foundation, like love, bring a brand with love at it’s core.
Build a brand people talk about, a brand that speaks for itself, the work of the righteous is done by others. Be in love with brand.