Quick Summary
In this interview, Tim Haldorsson, CEO of Web3 marketing agency Lunar Strategy discusses the opportunities the bear market has created. There is no such thing as a magical solution that can fix all your problems; however, there are specific channels and storytelling that can be more effective in a declining market.
Related: Crypto Market Crash and Its Impact on Play-to-Earn Games
What is the difference in marketing between a bear and bull market?
The most significant difference is the number of new projects being created. This means that it’s easier to get attention in a bear market, as there is simply less noise. However, reduced noise comes from a smaller amount of people interested in new projects, meaning people are also less likely to invest and join your community without a new value proposition that you are offering. For example, a project that is advertising their plan to not only survive the bear market but thrive in it with strategies in place to actually do so.
Bear market versus bull market marketing is fundamentally different, but that doesn’t make either impossible. Strategic changes must be made, but the same results can be achieved.
What opportunities does a market decline bring?
Firstly it’s not only crypto prices that are reduced in the bear market. Influencers, Crypto news sites and even paid ad costs are reduced, granting more attention for the valuable content that you are producing. Essentially, this means your marketing ‘purchasing power’ is much greater in a bear market.
Secondly, it’s significantly easier to build up a network with other Web3 people as contact and with industry leaders as everyone’s time has freed up. This means that it’s the perfect time to slide into the DMs, contact leaders on LinkedIn or even email those you want to get in contact with. Lead the conversation with what value you can offer them, and then they are more likely to respond.
Thirdly, the remaining crypto community in a bear market is less saturated, meaning those you manage to reach out to are more likely to care about great fundamentals and projects helping push crypto forward. Each impression you make in a bear market is often 3 or 4 times more potent than one in a bull market.
What are you focusing on in this bear market?
I’m putting all my attention into creating new ways of giving value to clients; in bear markets, you have extra time to think about your work. Improving workflows, optimizing operations, and finding the best talent that Web3 has to offer.
On top of that, producing content personally and for Lunar Strategy on YouTube, blog articles, podcasts and interviews with a focus on marketing guides, tips & tricks on how you can grow your Web3 business.
What can Web3 companies focus on?
Building up authority by being on podcasts. A great tool to use is Matchmaker.fm, a website that matches podcast hosts with guests. Here you can find many Web3 podcasts that you can go on to talk about your strategies and build up authority without any extra costs.
Creating blog articles for Medium, Hackernoon, and other websites are also great ways of building up authority. The key is to provide added value to the reader’s business or personal life.
How long will a bear market last?
Normally a bear market can last for around 300 days before indicators of a bull market begin to appear. However, it can take many years before we return to the previous top prices. And this is exactly why learning about bear market marketing strategies is equally as important.
This means we will have time to build and improve over the coming months. I like to view it as you will reap what you sow, and these are great times to get into sowing the seeds of opportunity.
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author: Tatiana Cernochova
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
