Tips To Improve Your Marketplace Monero Listing
4 key tips to selling products & services with Monero
Building a Monero Circular economy means offering products that are appealing and positioned well in the marketplace.
The goal is this article is to equip you to better formulate your Monero product listing to increase sales within Monero Marketplace & XMR Bazaar.
But first, a bit about me and why I'm qualified to suggest improvements to your Monero product or service listings.
Marketer By Day, Cypherpunk By Night
I've helped many entrepreneurs start publishing businesses in the tabletop space through crowdfunding, while also working with some of the largest game IPs in the world, such as Fallout, Total War, Skyrim, Star Trek ,and many others.
In fact, I lead operations at Crowdfunding Nerds and am the head digital marketing specialist at Next Level Web, having helped both small and large businesses gross millions through various advertising campaigns.
Marketing for crowdfunding presents enhanced challenges as it fundamentally involves convincing people to purchase products or services that don't even exist yet.
Below I'm going to share with you key insights gathered from hundreds of thousands of dollars of ads spend that will certainly help you grow, not only your Monero business, but your overall fiat business too.
Let's dive in …
Understand The Monero Buyer Mentality
Because XMR can be inconvenient to obtain (compared to getting and using fiat), those who spend it do so asking three questions:
Is this something I need?
Is the deal/discount offered worth the effort it was to acquire my XMR?
Is this something that aligns with my philanthropic or philosophical principles?
Your listing must therefore:
Clearly outline what your product or service is.
Quickly detail how it benifits your potential customer.
Give a compelling reason to pay with Monero instead of fiat.
Demonstrate that you support the Monero circular economy.
1. What Is It?
The first thing someone will see in your Monero product listing will be the headline and image. Think of these two elements as a combination that feeds into each other. Folks will either see your image first and then read your headline, or read your headline and then look at your listing image.
The name of the game here is clarity.
Both your headline and product image should quickly answer the question “what is it?” and generate an “interested” or “not interested” response.
Take for example my XMR Bazaar listing for email marketing below:
The headline is short and to the point. The key is to limit this to 6 words maximum to enhance readability.
The image of the MailChimp logo was intentional. MailChimp is the leader on the email marketing space and is recognised as such by many business professionals.
It's also important that the display image is cropped correctly. Below is a template you can download that outlines the cut off space of Monero Market and XMR Bazaar listings:
2. Describe Your Solution
Now that you have clearly outlined your product or service and have generated a click through interest, the next step is to detail what problem you can solve in your description.
Outline why people need your product or service.
Try do this with as few words as possible by getting to the point quickly. Assume people will skim read your description. Avoid long paragraphs and space content out clearly.
3. Offer A Discount
Now that someone knows what your are offering and how you can help them, the next step would be to give them a reason to pay in XMR.
The easiest way is to offer a discount when customers pay in Monero as opposed to fiat. You can leverage the fact that XMR has lower processing fees and put income back into your customer’s hand.
I would suggest offering larger discounts for customers who purchase larger volumes of your goods. This could be done by offering a bundle of services or products that increases the average order value of your sales and makes a discount more sustainable and scalable for your business.
4. Social Proof & Trust
Building confidence in your ability to deliver quality good and services before purchases with Monero users can be done by demonstrating your willingness to use your Monero profits to build a Monero Circular Economy and resist the fiat financial system.
One thing that unites Monero payment users is the fact there is a consensus of distain for the established fiat financial system.
Part of the reason Monero users use XMR payments is to fight the fiat system and reduce the influence of centralised banks over society.
The Monero Circular Economy Pledge is a way to demonstrate philanthropic and philosophical cohesion with your customers.
Consider clearly displaying the insignia on your website and market listing.
Encourage Monero customers to leave a review so that you have a third-party source that builds trust among the Monero ecosystem.
Other ways to demonstrate your commitment to building a self-sustained Monero economy include running a local node or mining via a decentralised pool such as P2Pool.
For example, you can easily demonstrate that you are actively mining by sharing your P2Pool observer link (here’s mine) while mentioning that you are running a fully local node.
All this demonstrates that you are not faking it. You have skin in the game and are actively committed to building a Monero business and customer network.
Product Listing Checklist
Headline of 6 words
Headline answers the question “what is it”
Clear image correctly cropped
Description outlining problem that you solve
Description with short paragraphs (no more than 3 sentences)
Offer a discount
Use the MCEP
Share your P2Pool Observer link