Understanding the hurdles of marketing the blockchain
SONAR|HES-SO
- Lavelle, Benjamin
- De Scheper, Jan (Degree supervisor)
- Genève : Haute école de gestion de Genève
89 p.
Bachelor of Sciences HES in International Business Management: Haute école de gestion de Genève, 2023
English
Ever since it has been created, the blockchain industry has been surrounded by extensive debates between those who believe that cryptocurrencies will change the financial system forever, and others who see it as a waste of space that should never have been born.
In the midst of the discussions, many people struggle with their opinions and the decision to interact with the sector, or not.
Companies operating in that virtual world face challenges on a daily basis, from competitors suddenly disappearing, to multiple billion dollars being injected into the system for fun. With so many areas of concern, it is very difficult to know exactly what the audience is thinking and wants to see.
This study, therefore, focuses on providing insights to anyone trying to share a relevant message in this space, to cater more efficiently to the content that is desired from the blockchain enthusiasts all the way to the person who has never invested a penny.
Sending out a survey that included 2,027 respondents has shown that the main reasons for an individual’s first interaction with the blockchain relate to perceptions regarding both profitability and sector growth. Segmenting by age however has shown that repurchasing behaviour is different, with an uninterested younger audience wary of volatility and a senior audience afraid of scams and market conditions.
Two different personas were able to be concluded, and optimal content has been suggested according to the survey’s findings.
The perceived value of blockchain-related digital assets is primarily economic, but is closely followed by psychological value. The best ways to face the hurdles of volatility and value proposition are, therefore, to showcase the long-term impact of a good investing methodology, and the purpose or use cases of the technology. Separating blockchain as a technology from the perceived speculative cryptocurrencies is also an important step in overcoming the hurdles of marketing the Blockchain.
In the midst of the discussions, many people struggle with their opinions and the decision to interact with the sector, or not.
Companies operating in that virtual world face challenges on a daily basis, from competitors suddenly disappearing, to multiple billion dollars being injected into the system for fun. With so many areas of concern, it is very difficult to know exactly what the audience is thinking and wants to see.
This study, therefore, focuses on providing insights to anyone trying to share a relevant message in this space, to cater more efficiently to the content that is desired from the blockchain enthusiasts all the way to the person who has never invested a penny.
Sending out a survey that included 2,027 respondents has shown that the main reasons for an individual’s first interaction with the blockchain relate to perceptions regarding both profitability and sector growth. Segmenting by age however has shown that repurchasing behaviour is different, with an uninterested younger audience wary of volatility and a senior audience afraid of scams and market conditions.
Two different personas were able to be concluded, and optimal content has been suggested according to the survey’s findings.
The perceived value of blockchain-related digital assets is primarily economic, but is closely followed by psychological value. The best ways to face the hurdles of volatility and value proposition are, therefore, to showcase the long-term impact of a good investing methodology, and the purpose or use cases of the technology. Separating blockchain as a technology from the perceived speculative cryptocurrencies is also an important step in overcoming the hurdles of marketing the Blockchain.
- Language
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- English
- Classification
- Economics
- Notes
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- Haute école de gestion Genève
- International Business Management
- hesso:hegge
- Persistent URL
- https://sonar.ch/global/documents/327470
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