It's no secret that the crypto industry is going through a tough time. Prices are crashing, investors are fleeing, and regulatory uncertainty is hanging over the entire sector.
So, what can you do to protect your crypto project during this tumultuous period? First and foremost, it's essential to keep a cool head and not make any rash decisions. Now is not the time to sell off all of your assets or give up on your project altogether.
Instead, focus on hunkering down and weathering the storm. Cut costs where you can, but don't sacrifice too much in development or marketing. Keep your team motivated and positive, and remember that this shall pass.
Building a more personal relationship with the holders
When building a relationship with your project's token or NFT holders, it's important to remember that they are individuals with their own specific needs and concerns.
Each holder wants to get something different out of their investment, whether it's financial gain, utility, or simply supporting a project they believe in. It's your job to understand what each holder wants and needs and then figure out how you can best provide value.
One of the most important things you can keep them updated on your project's progress. They want to know that you're still working hard and progressing towards your goals. Send them regular updates, whether it's through email, social media, or your website. To make it even more personal, we highly advice to show your face and talk to them regularly during AMA’s, maybe meetup sessions and more.
And most importantly, don't forget to show your appreciation for your holders. They are the ones who believe in you and your project, and they will be with you through thick and thin. Thank them for their support, and keep working hard to make your project a success.
Bring out quality content
When it comes to the crypto industry, quality content is vital. In a landscape filled with a variety of information, it can be challenging to sift through everything out there. A good content calendar contains the following topics: “industry insights, product update, roadmap, fun content & personal engagement like interviews etc”. A good way to bring some positive energy and hope is to come out with a demo video of what your final product / ideal world will look like in the future, this helps your holders reminding of why they are holding in the first place.
Give holders more staking incentives.
As a holder of a particular token or NFT, you're always looking for ways to increase the value of your investment. One way to do this is by staking your tokens to earn rewards.
Staking is a process where you lock up your tokens to participate in the governance or validation of a blockchain network. By doing so, you help to secure the network and are rewarded with newly created tokens, interest payments, or both. As a project, the fear during the bear market is that there will be a sell-off and you lose your token holders and the trust of the remaining ones. By temporarily increase the staking rewards it gives the community more incentive to lock-up their tokens for longer period and allows you to overcome the difficult months of bears market as there less token in supply to be sold on the market.
Still growing your traffic during bear market
One of the most effective tools to continue growing your project during the bear market is done by Kryptonite Agency. They build an AI tool to drive high impact traffic to someone project. It’s an AI driven bot automation, which is an intelligent, human like Twitter & Instagram bot system. During the worst day of the so called “Luna / UST” crash, this tool allowed to sell out an NFT collection and grow various projects. The tool scans and understands the right people to target and runs millions of DMs & mentions to the right audience. A fully automated system that is connected the whitelist / pre-sale or just general community to get people to sign up and join your project. It is proven to be one of the most effective techniques to bring traffic to a project.
It’s important to continue with the project and do extra effort in communicating the progress to your audience. Ideally you show your face as many times as possible to strengthen to personal connection with the holders. You can try to evolve them by holding speaking session where you also ask their feedback or opinion. From a marketing standpoint, content creation is very important during these times. Other techniques which will allow you to continue growth is incentivizing the community to lock up their tokens and run actively run the AI driven tool to attract new people to the project. The combination of those 3 elements will allow you to hold strong and stand out during the bear market.