Interview: Bitlumex’ Varun Satyam Explains their Process of Promoting Crypto Companies
Bitlumex is a platform that helps businesses in the crypto and blockchain sector to promote their brand on leading publications. Created by Varun Satyam and Yash Jejani, it offers a variety of packages to suit the individual needs of every business. In order to get a better understanding of their venture, we asked Varun a few questions and here’s what he had to say.
Q: What is Bitlumex? Can you tell us more about your company?
A: Bitlumex is a media outreach 2.0 platform for crypto companies. As crypto entrepreneurs ourselves we have always faced the challenge of getting our message across.
The whole crypto & blockchain PR is broken, meaning it exists but in fragments. Assuming a crypto/blockchain company wants to push a public release but would prefer enthusiasts across different publications and geographies to read it. This means the company has to contact various publications, negotiate commercials, share content, get approval, ask analytics. In short, there’s too much coordination involved in the process.
We decided to solve the problem for ourselves and for all our friends of the industry with Bitlumex.
Q: There are plenty of press release distribution services out there. How is Bitlumex different from others?
A: Other press release distribution services that are into the traditional spaces like business or finance do not accept Crypto-related content and even if they do, their partner sites do not publish it. It is no secret that every possible attempt is made by both publications and search engines to reduce the visibility of cryptocurrencies related content.
We have tried to solve that by partnering with those publications who love crypto and blockchain and to the extent that most of them accept cryptocurrencies as a mode of payment. Compared with peers in the crypto industry, what sets Bitlumex apart is that it is a completely automated platform with low human interference.
And what we have launched now is just a public beta to start gathering more data points to add for our next release. We are working together with media publishers both news publications and crypto social media influencers to provide campaign dashboards to monitor a marketing and outreach campaign. We have scheduled to launch this in Q4 2020. We are also working on API’s and WordPress plugin that media publishers can embed and the whole newswire becomes super automated.
Q: Can you give our readers a walkthrough of how your system works?
A: We are obsessed with making the flow as short and sweet as possible. As we mentioned earlier, we are crypto business owners ourselves and we understand how many fights one has to fight on a normal day. So, we are trying to reduce one for them. The complete flow of sending a Press Release can be done in 3 steps which include:
- Selection: Choosing from a list of packages thoughtfully designed to cater to the needs of products of all stages.
- Uploading: Writing and uploading the press release content or taking our help to get it done.
- Publishing: Once the payment is done the content is distributed in the network and published within 24-48 hours.
Once the publishing is done, we also send a detailed report for analytics that would help companies to track their ROI and improvise launch strategies for next time.
Q: Tell us more about your distribution channel. What kind of impact can clients expect by making use of your services?
A: Our distribution network expands to 65+ publishers as of now who produce content in 8+ languages that reach an audience of 85 million+. We have partnered with all the global premier publishers as well as the local publishers.
We assure of delivering maximum value both in quantitative & qualitative terms to the crypto/blockchain products who use our services. Our clients have saved as much as 30% of their earlier PR spends after moving on to our platform along with reduced time and efforts.
Q: Would you like to give us some insights into Bitlumex’s future plans?
A: We have planned Bitlumex into 3 phases and right now we are into phase 1 which is public beta where we are providing PR Newswire and entering into strategic partnerships for the next phase. We plan to release phase 2 into October 2020 in which we will launch dashboards to run marketing campaigns along with press releases. We will be enabling the companies to run social media marketing campaigns with our influencer’s network. This will work both ways i.e enabling content creators a platform for monetizing content and for the companies an efficient way to reach the target audience.
During the second phase, we will monitor the campaigns with AI to create a knowledge base of better-performing keywords, and more data analytics and in the 3rd phase we will launch the AI assistant for companies to create marketing campaigns that contribute and analyze market sentiment, brand awareness and perception.
Q: Anything else you would like to add?
A: As mentioned, we are expanding our publishers’ network and entering into strategic partnerships with crypto & blockchain products, businesses, capital firms, etc who are always on the lookout for avenues to spread their messages and news in the community. We think crypto is still just getting started and by the next wave, we will see multiple traditional financial institutions, technology MNCs joining the bandwagon. We want to be ready with a strong turnkey marketing platform by then.