What are the benefits of side marketing in the blockchain industry

Brian Halligan and Dharmesh Shah both decided to go into business when they were studying at MIT, and the moment they made that decision, their lives were destined to change forever. The two competed against each other — eventually the pair founded Hubspot in 2006 after graduating.

Fast forward a year, and Shah was looking for an innovative way to increase sales of his inbound marketing software, Hubspot. In 2007, Shah decided to launch a free tool called Website Grader, and wanted to test whether Website Grader could bring more leads to Hubspot, and Shah was right.

Website raters have rated more than 4 million websites, which generates more leads than Salesforce. Shah started a marketing experiment back in 2007, and it's now called "side marketing." Since then, there have been many other companies using side marketing to grow their business.

Today, side marketing is used in the blockchain industry, from traditional businesses, cryptocurrencies, to blockchain companies that are looking to expand their services. Let’s revisit some of the creative ways businesses are expanding below.

Enterprise expansion

Auto insurance has traditionally been a cumbersome and unreliable affair because of the time it takes to assess a car accident. NaTIonwide has launched a new pilot project called Riskblock, which accelerates insurance assessments through QR codes, smartphones and blockchain technology. As such, Riskblock helps NaTIonwide grow and expand their service offerings.

Simon Hovell, CMO of Aged Insurance Australia, sheds some light on how traditional insurers view blockchain technology. “As a leader in direct insurance, we are always looking for simple and unassailable solutions for our customers when buying insurance online. This type of technology is one of the most exciting of the decade and probably It will change our premium customers - they are quick adopters of new technologies."

Increased usage of coins and tokens

Did you know that every time you type "I'm not a robot" in the box next to it, you help improve Google's dataset. Google asks users to decipher an interesting word or two, or identify cars, bridges and crosswalks, to prevent bots from appearing on the site. The information users click on will be used to help improve Google Books or Google's Self-Driving Car Project.

Recently, HUMAN Protocol launched a blockchain challenger called hCaptcha to challenge Google’s reCAPTCHA. This works the same way as Google's reCAPTCHA - but rewards site owners with tokens when validating data. The hCaptcha Decentralized Application (DApp) has helped HUMAN Protocol increase the usage and adoption of the token while also increasing the development of both businesses.

Here's what hCaptcha CEO Eli-Shaoul Khedouri had to say. "By publishing our work under the Human Protocol open source license, this has generated a great deal of interest in hCaptcha. Likewise, as we continue to expand, it has fostered more partnerships, developers' Interest and corporate adoption, the focus on hCaptcha has also driven more awareness of the Human Protocol.”

Other Examples of Blockchain Side Marketing

Gnosis is a protocol built on Ethereum with several projects aimed at increasing awareness and engagement among Gnosis users. For example, the Gnosis Safe project aims to provide safe and easy cryptocurrency trading, and the company recently expanded its business by offering multiple prediction market services through the Gnosis Olympia platform.

Similarly, Steem is leveraging side marketing for growth through their flagship social media platform Steemit (through various affiliates and side marketing programs such as Busy, DTube and Utopian). Inevitably, this strategy will help Steem spread further by leveraging marketing efforts that cross-promote other areas of Steem's business.

final note

While some startups have started using side marketing, it is only recently that this trend has started to appear in blockchain. More companies will continue to adopt side marketing strategies and are likely to see three main trends:

1. Enterprises will continue to expand into the blockchain space by creating new blockchain projects as a mechanism to develop flagship brands.

2. Cryptocurrencies will find new and innovative ways to increase consumer adoption of their coins/tokens, which means we will see more side marketing going through DApps, as is the case with HUMAN Protocol and hCaptcha .

3. Large and well-known blockchain companies like Steem will continue to leverage their position by cross-promoting related businesses and developing new businesses to expand their ecosystem.

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