While there are many promotional tools out there to make an ICO (Initial Coin Offering) successful, PR (Public relations) stands out due to its effectiveness. Though ICO’s are a cost-effective method for raising funds, it has witnessed a dip in credibility due to the rise in the number of Ponzi schemes and bogus tokens.
Some Obstacles to Face Ahead of Undertaking PR to Promote Your ICO
- Awareness about your project – Your project will not get coverage in the leading newspapers and magazines unless journalists know about your promises. Only facts laid down by the company will make it a news story.
- Restrictions on advertising – Social media networks have not had a friendly relationship with ICO’s. Leading companies such as Facebook, Twitter, Google, and Snapchat have issued a blanket ban on ICO advertisements. Regulatory bodies such as America’s Securities Exchange Commission have also tightened the noose around ICO promotion.
- Distrust from consumers – An average investor will not have adequate knowledge of an ICO. A project needs to earn the validation of the target audience by offering high returns, minimal risk, and valuable tokens.
- Double-minded audiences – There are two kinds of investors in the market. Token investors will be eyeing at their next opportunity to make a profit. On the other hand, we have investors who will be interested in the functionality of a project. Hence, a firm must lap up support for its project by encouraging participation from seasoned investors as well as new participants.
How PR for ICO Marketing Can Prove to Be a Viable Tool
- Allocate the right budget – Though PR marketing for ICO involves significant costs, a firm must devise the right budget for conducting it. The results will not come overnight. It takes a lot of time and hard work for curating the perfect press release.
- Develop a robust team – Ensure that your team has all the knowledge of the latest trends that are changing the blockchain and cryptocurrency landscape. Make sure that the content generated in the form of articles and blogs is creative and unique for generating success.
- Focus on storytelling – Have a common theme to make your PR promotion for ICO campaigns unforgettable in the minds of investors. Share your message with details like how it will impact the world and solutions for different problems for getting a better reach. Hook them with a story that appeals to a wide audience.
- Understand the needs of your audience – Focus on the way of pitching your benefits to the audience. Talk about the advantages rendered by your token and the high-level security measures introduced in the platform. Make sure that the content is tailor-made to appeal to each segment of the audience.
- Utilize PR as a complementary tool – Do not use PR to run the entire marketing show. It should act as a supporting mechanism for other marketing tools. Eliminate the fear, uncertainty, and doubt that people have about the cryptocurrency industry by delivering on your promises.
- Concentrate on building a personal brand – Ensure that you have founders who are well-known in the industry. Funds will flow only after investors have verified the credentials of the project. Become a thought leader in the services that you specialize in. Simultaneously, create awareness for your product.
The Best PR Marketing Strategies for Your ICO
- Guest-posting – Guest posting on popular crypto news sites helps in showing off expert knowledge and educating the audience about the project’s potential. It can be in the form of an article that advises prospective investors or communicating an interesting insight based on your experience. Higher validation would be received when your content gets featured on prominent websites. Publications will also be benefitted as they get fresh and quality content without incurring significant publishing costs.
- Sponsored posting – Before incurring money for getting your post published on popular platforms, it is necessary to consider the actual reach and impact. Look at the web site’s traffic and check their social media presence. Get to know their strategy of sponsored posting. It could be a series of posts, website advertisements, conducting email marketing campaigns, or mentions on podcasts and webinars.
- Discussion forums – Relevant content can be posted in discussion forums such as Bitcointalk and Reddit. Platforms such as Quora can also be used to promote an ICO. Sharing of knowledge and providing timely updates on the benefits of your upcoming project must be done simultaneously.
- ICO Calendar sites – Initiate PR for ICO marketing by making use of ICO calendar sites such as ICObench and ICOmarks to know about popular events. Token sales and Pre-ICO’s would be categorized according to the industry.
How PR Can Give ICO’s the Edge
- It can help in disclosing the product’s advantages, the experience of the team members, and the benefits offered by the project.
- An average investor will get to know the intricacies involved in the processes through PR marketing for ICO.
- PR promotions for ICO eliminate technical jargon and are easier to understand through its readable and friendly words.
- It helps in narrowing down your messaging as the focus is not just on sharing facts and information but also offering new solutions and interesting perspectives.
- It helps in promoting objectivity amidst the huge number of similar ideas.
- Public relations helps in concentrating on elements that contribute to the rise in prices or reducing the risks in trading.
- Since the content shared is authentic and informative, it helps in building the brand’s capability, which ultimately leads to better user engagement.
- Compared to promotional advertisements, PR marketing strategies for ICO helps in retaining the attention of a target market for a longer time.
- PR provided more flexibility for ICO’s as companies can present unique aspects of their products to differentiate themselves from their competitors. Clients can be given access to case studies to understand more about the project.
- Potential clients can be gained through consistent PR activities.
- During a downturn, PR marketing for ICO helps in managing crisis situations and resolves complex issues by maintaining a positive image.
Make sure to follow all the above tips while implementing PR Marketing strategies for your ICO. It will help in creating the right buzz for achieving your business goals.