Ten sales & marketing tips for crypto growth businesses
Attracting institutional clients into the nascent Digital Assets / Blockchain / Crypto space comes with many challenges.
Many institutions are highly regulated and risk-averse. Contrast that with the crypto sector, which has been in existence for hardly a decade, and whose volatility and news headlines haven’t been for the faint-hearted.
However, institutions are coming - both as users of new smart contract-based technologies and as investors in Digital Assets. A range of players, both crypto native and TradFi, have launched tech and investment products for this segment.
Although everyone is talking about crypto, its current penetration into the TradFi system is still low. According to BIS, in mid-2021, assets under management of investment funds dedicated to cryptocurrencies or Bitcoin stood at $30bn and $16bn, respectively, thus representing only a small fraction of c.$69tn managed by regulated funds globally.
So it’s early days for institutions in crypto, and we are excited about its prospects. We believe that going forward, the lines between the crypto world and TradFi will become increasingly blurred.
While in the B2C space, crypto is firmly in the Early Adopter space and possibly entering the Early Majority, we would argue that in B2B it is with Early Adopters.
As crypto and blockchain were originally started by tech enthusiasts who built underlying tech without much concern for UX/UI, and invented their own (often impenetrable) lingo, there is an obvious gap in understanding the risks and opportunities as institutions are entering the space.
A few years ago B2B Fintech was at a similar stage of development. We think some valuable lessons from its travel along the growth curve apply to the Digital Assets / Blockchain / Crypto space.
We have summarised these learnings in our Top 10 Tips.
Contact us if you would like a copy of the book.