William Mougayar, an entrepreneur, investor and a blockchain expert stated in his blog that if a person owns a blockchain startup, or an open source project or a decentralized protocol; and, if the person believes that she/he does not require the right kind of marketing program to succeed, then the person is really missing on a lot.
He has given the examples proving his warnings to the business owners. He says that there is a common and core misunderstanding at the root of this situation. Business owners seem to be unaware of the true meaning of the concept of marketing, he says.
William Mougayar has shared a list in his blog post. In the list, he has shared similar coins to Bitcoins, such as Ethereum, Lightning Network, Bitfury, (which are under-marketed according to Mougayar), along with some over-marketed altcoins like IOTA, EOS, Tron, and Bitcoin cash.
By giving the list, he says that hitting the right chord is difficult, but a few crypto ventures like Binance, ShapeShift, ZCash, have managed to do it.
The list was published on the blog post; however, crypto lovers across the world are a bit hurt due to this categorization. This list has triggered many crypto lovers to argue that the project is much better. Mougayar had to tweet a post on the Twitter clarifying that he was not targeting or defaming any particular venture, or he did not even want to categorize ventures from bad to good.
He also said that the classification in the list is not made depending on products/services of these ventures. The over-marketed and under-marketed category has nothing to do with the categories like good or bad companies respectively. He requested crypto lovers not to take things in the wrong way.
He said that by over-marketed he meant that the company over-claims delivery. Under-marketed means the potential of the product is not met entirely. However, right-marketed means the company knows how to balance ‘what you say’ and ‘where the product stands.’
His blog post about marketing strategies for blockchain projects says that people mistake marketing as shouting out loud about products and services before launching them. Some think that marketing is about hiring a PR firm, having a website, posting blogs, etc.
He says that marketing is not about releasing a press release; it is not shouting loud about your brand. It takes planning, accuracy, action to get the goals right, in time.