- March 5, 2018
- Posted by: Roberto
- Category: ICO Marketing
ICO stands for initial coin offering and it represents one of the best ways to raise money for new crypto-currencies. The initial coin offering is basically an event that unrolls over one or two weeks, everyone being offered the possibility to sell crypto tokens in exchange for, say, Bitcoin. What happens is that the investors send funds to a smart contract, which stores them and makes available something of an equal value. ICO is a way for startup companies to get their hands on much-needed capital. Startups can raise millions through crowdfunding centered around cryptocurrency. If you’ve just discovered the initial coin offering, then you have to learn how to generate a PR hype and make your event go viral. Instilling trust in a new token isn’t difficult but neither is it easy. Keep in mind these tips when trying to generate buzz.
Since both entrepreneurial ventures and established companies embraced without any hesitation cryptocurrency, Initial Coin Offerings (ICOs) started enjoying more and more popularity. For those still wondering about ICO, it practically represents a fundraising process consisting in the exchange of future cryptocurrency for liquid cryptocurrency. For instance, you give your token and receive bitcoins. You can view it as a modern funding mechanism. The truth is that Initial Coin Offering is a simple and effective method for project financing. Since the industry does not seem to take any step back in the following years, everyone should learn how to start an ICO campaign and market it successfully. Keep in mind that you will have to face a tough competition, so developing a solid marketing strategy is fundamental. The main goal that you must struggle to achieve with an ICO Campaign is attracting as many potential token investors as possible.
You need to offer something interesting to your investors
Since the virtual world comes with many risks, you have to eliminate any negative thought from their mind, such as you being a threat for them. More specifically, if you do not allow the investors to meet your team, they will probably believe that the only explanation for your actions is that you are trying to defraud them. Do not be afraid to put your name and your team out there. Moving on to the most difficult task, how do you captivate the interest of enthusiasts and investors? First, you need to offer something good or at least interesting in return, like an intriguing story. Try answering the following questions. What do I stand for? What is my mission? Your answers might represent compelling reasons for your audience to react and notice you in the crowd. Having an interesting story is important, but knowing how to present it is crucial. If you act smartly, those investors will not only understand your vision, but also support you entirely.
You have to focus on the appropriate audience and work with an ICO advisor
The reality is that Initial Coin Offering and block chain technology remain incomprehensible concepts for some people. This means that you have the mission to select your audience. You can knock at the door incessantly; if nobody is home, you will not receive the answer you are looking for. Mass marketing does not necessarily work in this case. Instead, you need to make sure that you are addressing to that small group of people who know this territory like the palm of their hand. Stay niche-specific and save your effort for those who really deserve it. Working with an experienced ICO advisor will also facilitate this process considerably and help you launch your campaign earlier than anticipated. Furthermore, you can analyze together your offering and determine if it lacks transparency because you do not want to chase away prospective buyers. As mentioned in the beginning, those who display interest in your offering need to know that you are trustworthy. Earn their trust and you will earn their money: this is the secret to attracting and retaining investors.
Get the press to show up at your event
If you want the crowdfunding event to be successful, then you need to make sure that the press will show up. The thing is that you need to get attention from newspapers before the ICO. The new coin can’ be introduced into the world of cryptocurrency just like that. it’s necessary to gain the trust, as well as the financial support, of the media. And the public. What you need to do right now is identify the right communication channel. You do want to have credibility, don’t you? You should consider reaching out to dominant publications, such as the Wall Street Journal, Entrepreneur, Forbes, and International Business Times. How can one possibly convince journalists from these magazines to attend an event? You prove to them that the event and the product demo is beneficial to their readers, that’s how. To do so, you have to be concise and persuasive.
Promote ICO through social media
When it comes to advertising your project, there are plenty of options. Social media networks offer countless opportunities for gaining exposure. If you haven’t noticed until now, sites like Facebook and LinkedIn are full of initial coin offering advertisements. Through social media, you can define your message and reach your target audience. One platform that is often used by startup companies is Reddit. You have heard about Reddit, haven’t you? If the answer is yes, you don’t need to be told that it’s the place where members can talk about relevant subreddits and keep in touch with their communities. Having an active presence on Reddit is what you need to do. Not only will you build hype and momentum for the project that you’re launching, but also you’ll be transparent about what you’re doing.
Make sure to choose the right timing
Timing is everything when it comes to raising money in an ICO. If you want to be successful in your public relations campaign, then you need to choose the best possible timing. Ideally, you should start the PR campaign three months prior to the event. Timing is of the essence, which is the reason why you should be prepared. Get your promo materials ready, as well as your press releases.