KnCMiner: Minting over $100 Million with Media Prestige and Social Media Muscle
CHALLENGES AND GOALS
Founded in April 2013 just before the biggest Bitcoin boom to date (coming at the end of that year), KnCMiner was a Swedish manufacturer of the computers that perform the calculations that “mine” the popular digital currency. A startup formed by those who had led the IT and systems designs of some of the biggest names in online trading, KnCMiner needed to establish a strong brand profile and legitimacy early, especially in an industry where $3,000-$10,000 hardware sales tags are not uncommon. As a company based in a European country where English was not the primary language, KnCMiner also had to find a way to clearly and strongly communicate with markets that did fluently speak English, especially the Bitcoin-crazed United States.
As KnCMiner also branched out into other sectors of the Bitcoin economy, including cloud-hosted mining and scrypt mining (e.g. for popular Bitcoin alternatives Litecoin and Dogecoin), it required a requisite shift in the company’s narrative and public storyline.
THE TRANSFORM/SOCIALRADIUS DIFFERENCE
- Successful outreach to online and traditional media outlets, including an appearance at Engadget’s popular and prestigious floorshow at CES 2014.
- A consistent brand voice pitched at the Bitcoin mining market, with an aggressive social media growth strategy.
- A rolling thunder approach to announcing new product lines and sales benchmarks in regular intervals, maintaining a strong and consistent brand presence in the most-read Bitcoin news outlets, as well as in SEO.
- Regular coverage from major media outlets and those outlets most influential to the kind of people who might pay thousands to mine Bitcoin, including the Wall Street Journal,USA Today, Bloomberg Businessweek, Forbes, TechCrunch, Business Insider, WIRED, Engadget, International Business Times, VentureBeat, and CoinDesk, accounting for millions of impressions.
- SocialRadius grew KnCMiner’s Twitter following by over 400% in just the first few months of 2014, growing the company’s total following to over 5,000.
- Because of its enhanced profile, KnCMiner quickly became the brand most associated with Bitcoin mining hardware and generated the kind of impressive number that most counts: over $100 million worth of sales in its first year of operation.