Why bitcoin is the ideal testbed for marketing technology

Since leaving games publishing last year, and a lot of time spent over the summer deciding what to do next, bitcoin seemed like a no-brainer. I was interested in it, I knew that for a €500 invoice, I’d receive €499.90 via it when getting paid by customers in it, versus €480.15 if I opt for Paypal. But coming from the games industry, and a marketing technology design background, I could see that this rapidly iterating, always-on industry has a lot in common with many sectors, games being one. I spent nearly a decade promoting large-scale massively multiplayer online role playing games, and bitcoin has as many (sometimes) fanatical group of enthusiasts on board as any MMO.

As it is, back in the early days of bitcoin, it was the GPU’s of high end gamer computers that generated a large number of the early day bitcoin, before ASIC’s made them redundant for generating the cryptocurrency.

But there is a maelstrom of activity in progress, building upon the technological framework Satoshi gave to the Open Source community
Similar too are the needs, needing help bringing their products or services to market, evaluating the competition, or trying to carve out a niche. But the single biggest reason I formed BitcoinMarketingTeam.com, a specialist bitcoin marketing agency, last year was to help companies to get themselves set up online to be able to be found by their customer base.

But what has bitcoin got do with marketing technology? Many of those that know me professionally know I’ve been up to my neck in designing marketing accreditation systems since 2010. I reincorporated my company McCormick Advanced Marcomm as a marketing middleware developer last summer, and commenced work on Project Chrysalis. I wrote about this before, but since January we’ve been underway developing out the system, and building out the team.

Technically, bitcoin is a dream for someone like me, at the point I am in development right now. Testing a marketing tracking and accreditation system in the wild costs money to Google, Facebook, Twitter and any of the other plethora of advertising channels available to me.

But with a modest redirect of some of the bitcoin I have earned, I can test a complete variety of situations, and business models (CPM, CPC, and every flavour of CPA and revshare) with bitcoin denominated advertising networks, and relatively risk free iterate marketing landing pages, banner designs, calls to actions. Once that’s done, I can then see if these apply to different traditional digital marketing channels, helping me save budget that would otherwise have gone to waste.

It also lets me see the scale of issues such as adblock, with bitcoin enthusiasts probably more technical than your average web user, and on par with your average gamer, having the ability to take a modest budget, turn it into bitcoin, and generate multiple clicks per penny to me to generate substantially more traffic than the equivalent euro spend could, using Chrysalis to compare and contrast the behaviour of the users between the two.

We have also been using the system to help order ads on affiliate based websites, ensuring the most profitable go to the top, measured three month communications plans, and seeing the life-cycle of tweets, ads on Google, Facebook and Twitter, blog posts. forum posts and other community management activities.

So when it comes to us bringing our product to market later on this year, bitcoin means that we have been able to fully debug our platform in the wild for over half a year on our own marketing and advertising activities, before we risk a cent of a client. The guys in Popcap’s Dublin office taught us one thing when they were bringing Plants vs Zombies to mobile – get the product right, and then polish the shite out of it until it’s awesome. So we’re going to do what we know, taking a video games production approach to the project.

So why this blog post? I’m currently looking for a couple of technically sophisticated companies in Europe who either are spending online, want to spend online, or who are doing extensive communications online for our first round of beta testing.

Read more about Chrysalis at http://advancedmarcomm.com , contact me through ie.linkedin.com/in/jamiemccormick or email jamie [at] advancedmarcomm [dot] com to get in touch!