ICO (Initial Coin Offering) is the newest method for startups to raise funds for projects. It involves selling a percentage of cryptocurrency to different investors in exchange for legal tender or Bitcoin. Investors will receive their returns on investment after the official launch of the ICO. The backbone behind every successful ICO lies in inconsistent marketing practices across different channels.
ICO marketing involves using different online tools (both free and paid) to capture the attention of the target audience. The focus must be on increasing the credibility and scope of campaigns to get more leads.
Steps Involved in ICO marketing strategy
- Develop a convincing Whitepaper – A whitepaper should be the gateway for disclosing the firm’s vision to the outside world. It must consist of important details of the project, team members, distribution strategy for tokens, company partners, and cover the commercial, technological and legal aspects. Additional effort is needed to drive the uniqueness of the solution for grabbing the attention of the audience.
- Create an engaging website – Have different sections that portray a variety of information to your customers. The focus must be on ensuring transparency through a compelling layout. Make sure that the interface makes it easy to navigate for all sections of users. Eliminate all superfluous information. Include an About Us or a Contact Us Page. Have HTTPS and SSL security certificates to safeguard data. Post content regularly on the website keeping SEO in mind to get more traffic.
- Utilize paid advertising – A faster way to go up the ladder is by using paid advertising tools. Major social media platforms and search engines allow for paid ads after following certain rules and regulations. Organic reach can be boosted by publishing SEO related content. Campaigns can be run by using Google Adwords, and the metrics can be monitored continuously. However, the likes of Facebook and Twitter have banned posts about cryptocurrency marketing and ICO advertisements.
- Promote through social media – With the world working online, different social media channels can be tapped by thinking out of the box. Professional clients can be gained by promoting business-related blogs and articles on Linkedin. User queries can be responded to in discussion platforms such as Quora and Reddit. Comments and latest updates can be made on the already existing threads. More clients can be reached by interacting with cryptocurrency communities like Bitcointalk. Short videos can be posted on Youtube and Instagram to instigate the buzz quickly.
- Email marketing – Attractive newsletters and frequent updates on new features can be sent to interested users through email. New users can be gained by creating opt-in/sign up campaigns and adding subscriber forms. Tools such as autoresponder will send emails instantly to the subscribers of your service, saving time.
- Instant messaging applications – Short and well-informed posts can be shared on instant messaging applications such as Telegram and Whatsapp. Telegram has a lot of popular crypto communities, such as News Bitcoin and CoinTelegraph. It also has high security by removing chats after a user-defined period. Whatsapp also possesses end-to-end encryption.
- Public relations – Frequent correspondence can be sent in the form of press releases, news bulletins to investors. Informative content must be published regularly. If the budget is big, the task can be outsourced to a professional agency for more exposure. Conducting an interactive Question and Answer session will go a long way in clearing any doubts and queries of the audience.
- Affiliate marketing – It is a budget-friendly tool where a team will be hired and paid for performing certain tasks. Affiliate marketing helps in getting new leads. Instant information can be received about trends, and it removes the need for detailed reports. Rewards can be given in the form of free coins or tokens.
- Listing ICO on well-reputed websites – Announcements of the official launch of ICO can be posted on popular sites such as CoinSchedule and CoinGecko. This can generate a positive buzz and higher exposure around its release. Keen interest will be received from crucial stakeholders. Most of the sites allow placement of posts for free.
Things to keep in mind during ICO Marketing
- Focus on the target audience – While promotion is necessary, it must not go overboard. Strategic planning would help in choosing tailor-made strategies and circulating it among different sections of the target market. In the absence of clear thought, there can be a wastage of resources if the same messages are shared among the masses. Quicker conversions can be realized if the audience is divided into specific groups.
- Hire an ICO advisor – An ICO expert will have a thorough knowledge of the dos and don’ts involved in the process. They will help a company to tick the right boxes while implementing the project. This can help in saving resources during the promotion by focussing on productive aspects.
- Be transparent in disclosure – All information mentioned during documentation and promotion must be true. Minute details can also be heavily scrutinized by competitors and regulatory authorities. The presence of transparency increases the confidence and trust of investors and can lead to more collection of funds. A responsive team should be appointed to answer all queries and doubts of users.
- Possess a unique story – More importance must be given to the vision of the company and aspirations to be fulfilled in each project. Every customer must be driven towards success through a realistic journey. A study can be conducted on understanding the likes, interests, and preferences of customers.
- Ensure end-to-end compliance for ICO – Not all governments of countries welcome an ICO with open hands. Every exchange owner must meet all the guidelines and regulations laid down by competent authorities and law-making bodies. Non-compliance can discourage investment by potential customers. It can also impact the operations of the exchange.
Make sure to follow all the above factors for a successful ICO marketing strategy. Reach out to Blockchain App Factory for improving your position in the industry. They have a team of well-versed and accomplished developers who will fulfill your goals comfortably. Get in touch with them for tailor-made marketing strategies that can spark an interest in your ICO offering.