6 Best Practices of Marketing Your ICO
The pre-launch phase of every project requires capital investment. This is where ICO (Initial Coin Offering) come in. For beginners, ICO is the ‘cousin’ of IPO (Initial Public Offering) which is the traditional finance term for a project, where the public can easily purchase stock. This helps the company to raise a set target of capital to run.
In ICO, the blockchain company sells coins or otherwise known as ‘Tokens’ in order to fund the said project. Crypto enthusiasts and investors who are interested in your project will purchase the tokens, which normally are discounted and can trade them for higher gains (either Bitcoin or Ethereum or Altcoins) when the project kicks off and succeed. Note, however, that, there are risks factors involved.
Just as it is done in crowdfunding, you need to outline your project in such a persuasive way that, it will attract the needed backers to purchase your tokens. You’ve got to prove that, your ICO project is genuine to gain the trust of investors. The ultimate goal is to release all your tokens based on the allocations, to be able to meet your required target funds.
Some projects can sometimes obtain seed funding from investors or sell all their tokens in a private sale to specified investors. If that happens, you can skip the ICO marketing stage and focus on your MVP, tests, and launch.
With the growing trend of ICO since 2017, you need to ensure that your project is comprehensive and has a higher rate of succeeding in the market.
Therefore, you need smart marketing strategies to be able to crush your ICO and meet your desired goals. ICO marketing campaigns are challenging and so you must allow ample time to get it executed.
These points are based on the experiences of successful ICOs. I hope they can guide and help prospective projects. It is a hard turf out there.
A blockchain project or ICO campaign without a Whitepaper is useless. The whitepaper is your blueprint that tells investors more about your company, team, your product, and technical requirements. The whitepaper should explain in detail your business model and the blockchain technology that will propel your idea to succeed.
The project roadmap should also be clearly defined and illustrated in your whitepaper. Some significant milestones on the roadmap may include your date of MVP launch, test, ICO sale, Product launch, and any other events.
If the need is, hire a consultant to draft a well thought out document with concise information. The whitepaper should induce trust in prospective investors. Make it a top-notch document and you are half-way through the marketing goals.
2. Website | Social Media
Your website is your voice and image. It is your project’s headquarters. That will be first impression anyone could have about your project. It should be well designed, clean, easily navigable and attractive.
3. Events | Summits | Meetups
The money will not come to you if you don’t move. Prepare a pitch deck to meet private investors face-face. You really need attention at this stage in your project. Attend industry-specific events; blockchain summit, blockchain week, ICO policy events, investors day, blockchain conferences and many others. Korea held a blockchain week during summer to promote projects and investments in the field.
Travel to nearby country events or global blockchain events to enhance your potentials. Build a network, meet new partners, marketers, advisors and get to learn about the competition. Tell your story through these events.
4. ICO Listing
Listing is very important in your ICO marketing strategy. In order to gain visibility and credibility to your project, you must budget for listing on top ICO sites and calendars. Here, you can receive reviews and ratings from experts. It takes quite some time to be approved so you should plan early. Examples of ICO calendars are
5. Bounty Campaign
In this strategy, you offer rewards (token)to the crowd after they perform assigned tasks related to your project. Bounty program increases your reach and put the project in front of many audiences.
6. PR | Digital Media | Advert Buying
Advertise your ICO in digital media, social media and ad buying. Create an engaging community on all the social media sites and offer resourceful information to the users. Here below are a few simple steps;
- Telegram — chatroom for crypto enthusiasts
- Facebook and Twitter — groups and channel marketing
- Bitcoin talk — For managing your bounty program
Spend some budget on placing sponsored press releases on major crypto and blockchain news media.
Digital Television ads, blogs, podcast, and radio should not be ruled out.
Purchase native ads, advertise PPC on Google and make marketing videos for your project. Mass application of social media tools will help your ICO marketing to be successful.