As cryptocurrencies continue to gain massive strength with each passing day, companies are looking to cash in on the trend through the effective launch of their ICO (Initial Coin Offering).
ICO’s are getting challenged due to action taken by regulatory authorities due to the misappropriation of funds. They are also facing the heat by social media platforms that have restricted advertisements related to ICO marketing. Let us know more about how to promote an ICO by putting a solid brand reputation backed up by a marketing strategy in place.
Grasping the Meaning of An ICO
An ICO offers investors a profitable opportunity to invest in valuable tokens in exchange for leading cryptocurrencies such as Bitcoin, Litecoin, etc. Through effective marketing and promotion, demand can be generated for an ICO. ICO’s have proved to be a gamechanger in the financial markets as tokens are being recognized as shares or securities.
Comprehending the Operation of An ICO
It works similar to the phenomena of crowdfunding. ICO’s are supported by better technology. It is mostly used for financing different projects. Investors can also pledge money in projects where they foresee a lot of potential. Whenever a firm decides to launch an ICO, it must have clear fund-raising goals etched in mind. The tokens issued have a fixed value that cannot be changed during the ICO period. Some companies are flexible as they create more tokens depending on the amount of cryptocurrency that has been distributed.
Reasons to Promote Your ICO
- Since people from all walks of life are getting access to technology, cryptocurrency has acquired a household name today.
- The competition in ICO has intensified as firms are offering different types of currencies with a huge value proposition.
- Since ICO’s are highly unregulated, there is a huge chance of gullible individuals losing their funds to scammers and fraudsters.
Steps to Effectively Promote an ICO
- Ensure that the audience is aware of your ICO - Promote your idea across platforms through multi-media coverage. Amidst the huge competition, the audience must know the market potential of your idea. The focus should be on carving a unique image through marketing efforts.
- Concentrate on gaining trust - Reassure your customers about your offerings by marketing yourself cleverly. Disclose details about the firm’s history, their accomplishments, the purpose of ICO, and the goals to be achieved. Try to raise the standing of your ICO in the market and convert your potential clients into actual ones soon.
- Tap the power of social media platforms - Establish a standalone page on Facebook and publicize your offering and include details such as contact information and links to your official website. Promote your posts and get a sufficient number of followers. Share your page in many active cryptocurrency groups. The micro-blogging platform, Twitter also offers advanced analytics to monitor the conversations on ICO undertaken by users in the platform. Profitable results can be achieved by using the right hashtags to target the influencers. Tips and advice can also be received from experts.
- Utilize discussion forums - Platforms such as Reddit, Quora, and Bitcointalk possess an active cryptocurrency community who constantly discuss the new changes in the industry. Questions raised by users can be answered, and feedback can be obtained for projects. The focus should be on targeting the right audience.
- Circulate your project on ICO Calendars - The leading ICO calendars, such as ICO Bench and ICO marks, are read by thousands of readers. They are frequently visited by industry professionals, journalists, and bloggers. Upload all the details of the ICO, including the date and time of going live. This will generate positive buzz and a greater chance to feature in the works of some leading publications.
- Public relations - Deepen your relationship with media outlets by sharing your message widely through press releases. Guest blogs can be published in well-known cryptocurrency news outlets. It will also help in getting quality SEO backlinks to the official website.
- Email marketing - Though it is one of the conventional tools, it is still widely used. A firm must create a list of interested members and send frequent newsletters and product updates. Exposure can be deepened by establishing an opt-in list. Care should be taken to avoid spam at any cost as it damages the reputation of the firm.
- Curating bounty programs - Incentives and rewards must be provided to users for attracting investors and other stakeholders. It should have unique benefits in both Pre-ICO and Post-ICO campaigns. Do not give away too many free tokens. Optimize your campaign as per the operational requirements.
- Participate in events and conferences - For face-to-face interaction, take part in blockchain and cryptocurrency conferences happening all over the world. The chances of the ICO succeeding are very high if the message is shared correctly.
As the competition gets tougher, there has been a sea shift in the way ICO’s are marketed. With regulatory obstacles and advertising restrictions, it is becoming increasingly tough to get attention for ICO’s. Hence, follow all the above tips for marketing your ICO successfully. Team up with a reliable ICO marketing agency and gain the right first impression by maximizing the potential of your project.
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