LND: Hi all! We are happy to present Kelly Pettersen, who will be hosting an AMA in this channel right now. Kelly is in charge of Marketing & Communications at Lendingblock and will answer your questions about our marketing campaigns prior and post launch! Kelly, perhaps you could tell us more about your background and how you got involved in crypto?
A: Sure. I started out my career in New York City, working at a number of financial services firms and investment banks focused on marketing and communications across the US. I then spent the next portion of my career working in London for an investment bank called Macquarie where I focused on a marketing strategy to institutions in the UK, and most recently just left a bank running through European marketing strategy out of London. During my time at BNY Mellon, the company I was most recently at, I spent a good amount of time working with our innovation and blockchain team which led me to happily moving over to Lendingblock.
Q: 95% of people in here [Telegram group] are not LND target audience, your audience are the big guns of wall street. What is your approach to promoting LND to those institutes?
A: In the coming weeks, we will be launching a number of campaigns that will focus on broad brand awareness to our identified target audiences across different countries. There will be focused tactics that will dive more deeply into targeting specific hedge funds, VCs, family offices, asset management companies to get them aware and move them down the sales funnel. We are heavily ramping up our media efforts with targeted crypto outlets and more traditional media outlets as well. We want our exec team getting noticed on a global scale as we have a very credible team. For example, Steve will be speaking at the CFC Conference in California next week on 5 of September where we will be on the first panel of the day talking about the crypto market next to some key players such as Dan Morehead CEO of Pantera Capital.
Q: What are you doing short term?
A: We see the likes of these big institutions moving into the crypto space (i.e. Goldman), but we know there are hundreds of crypto hedge funds that have launched over the past couple of years and starting to see a percentage of family offices investing in crypto as well. We have relationships with many of these firms already, and are looking to market to many more across Asia, Europe and the US. These firms are looking for a place to generate incremental capital through borrowing and lending, and through the use of our platform they will need LND as a utility for post interest for example. LND will be of value to them when the platform launches. Once the platform launches, LND is the necessary token for paying the interest. As such, when we launch one could assume our exchange would provide access to good liquidity pools where LND will be needed to facilitate the lending activity. LND is a utility for when we launch the platform, and right now we are not launched.
Q: Any roadblocks or challenges you can share with us that you foresee?
A: There are of course regulatory challenges, and we are looking at the framework here and how we operate within these parameters comes down to jurisdictions and their regulations. So a challenge is around ensuring we take the right approach in different jurisdictions to be compliant and market ourselves appropriately.
Q: While its tongue in cheek it resonates for a lot of people in here who genuinely believed LND would do well and still do. I guess disappointment at lack of progress is another way to put. What can you do or are doing to make that right to enable those LND tokens to grow in value. I guess a use case is key but that seems so far off. Do you see demand for LND is my question, if so, can you give evidence to that fact
A: We see demand for our product. We have a great list of partners signed up for our alpha testing which is going live first week of October. Linda and Steve are headed to the US and Asia to spend time one on one with these firms. So we feel confident at this stage there is demand of our platform, and therefore LND which will be used when our platform launches.
Q: Are there V.C's interested as we speak ?
A: Crypto VCs which have a large holding in crypto will have an interest to lend so we are very interested in this audience, however our sweet spot is more around asset managers and hedge funds.
Q: A more serious question, marketing wise in order to not jeopardize the regulatory compliance process are there things that you are not allowed to do? For example once the lending and borrowing API is implemented and an exchange is using it, do you think you will take actions to "advertise" the possibility to lend and borrow crypto on the said exchange in order to help drive adoption?
A: There will be some countries that we will need to be more cautious than others, but yes we will be launching specific campaigns that focus on pre-launch, launch and post launch strategies to drive adoption, additional subscribers, overall awareness and help us establish platform credibility
Q: Any collaborations with the Gibraltar crypto exchange? They work closely with Liquid too.
A: We know the team over there very well so we will keep you posted on this area. As you may know, we are awaiting our DLT application approval with the GFSC which is exciting.
Q: When is the marketing starting ? I assume before the platform will be ready for use?
A: I started 3 weeks ago now, but the marketing will start ASAP. I've just completed my plan, and now looking at getting set up internally for launch. In the coming weeks it will go live. The pre-launch marketing strategy will focus specifically on taking control of our story in the market. We will be undertaking a number of tactics to drive and intensify platform awareness. The campaign will be content driven and we will be focusing specifically on early adopters and the media.
Q: Good to hear you are starting soon. How often you are planning to give some updates about how everything is going? Are you open for ideas from the community?
A: Alex and I have a weekly update we share with the Lendingblock team. We could consider sharing this with you all if you'd like.
We would appreciate if you could share our social media updates with your relevant networks as you will be seeing us increasing our activity on these channels.
Q: From a marketing strategy standpoint what are the plans for getting more users? The current design of the platform might seem confusing to the average person.
A: At the outset we are quite focused on getting the accredited investors and institutional investors on our platform so most users will need to understand securities lending and repo markets. We very much value the community of contributors so we will continue to focus on our community and keeping this audience very much involved to provide feedback, ask questions, buy LND, and possibly even test and demo the platform too!
Q: you've led marketing for some very large and well known financial services firms, what do you think is going to be different here, and what do you think works well elsewhere that we will replicate?
A: I think the target audience is not much different - they act and think quite similarly and are located in the markets I have marketed to before. I think an important difference will be that Lendingblock is well positioned to see its marketing efforts deliver ROI quite quickly and benefit the bottom line possibly more easily. These big organisations do not always have the chance to be nimble and test and learn. Lendingblock has the advantage of this and here is where we can some real progress for achieving client acquisition and retention.
Q: I would like to know how things are working out time to time.
A: In terms of what has worked well - content is key. I look at this in a lot of ways as the lynchpin and we use a multi-channel approach to push out content that our clients and audiences care about. We understand our clients and their behaviours, so we need to be pushing out more thought leadership, raising our teams profile and blogging to elevate awareness and go to them based on what they are doing, reading, events they are attending, etc. I have seen this work very well at other organisations at a brand level, and also in terms of niche targeting and more technical level. LinkedIn is an example of a platform where we can push interesting and relevant content into the news feeds of CEOs at crypto hedge funds.
Q: How is the relationship going with Genesis? Can you shed light on their thoughts of the platform?
A: The relationship with Genesis is going well; they are a very important partner. We recently caught up with them and provided them an update on when our alpha testing was taking place, what we were looking to achieve with it, and the progress we have been making on the product development to date. They seem quite happy with it, and they will be taking part in our alpha testing. Steve is going to be meeting them face to face for the alpha discussion in early October.
Q: I love the fact that you’re working with big market makers. Their opinion is vital. Their word isn’t end all be all but it is important since they will be one of the first ones to use the platform. Can we expect an official announcement by them?
A: We are considering key announcements as we lead up to launch, but we won't be announcing anything until after alpha testing. We also are considering a specific feedback forum so key partners and community members can come in to our offices and test the usability and features of the platform and give us direct feedback in terms of how they would interact with the platform on a day to day basis. This is something that we possibly could leverage for a PR angle.
Kelly: Thanks everyone for having me. I thoroughly enjoyed the time together.
That concludes our AMA with Kelly Pettersen. Join our Telegram group to participate in the upcoming AMA next week!