With startups entering the burgeoning cryptocurrency space of late, ICO’s (Initial Coin Offerings) have emerged as the ideal fundraising method. However, a project’s success can be assured only with a well-oiled ICO marketing strategy functioning behind the scenes.
Here Are Some Mandatory Tips to Market an ICO Successfully in the Industry
- Study your market conditions thoroughly – An ICO may not be apt for every industry though blockchain technology is making its presence felt across a wide range of sectors. The tokens must be perfectly integrated into your business model. It should add concrete value to the product or service that you are offering to the target audience. It will take some time to create a tangible impact as ICO’s are largely relegated to the blockchain world in its current form.
- Abide by the prevailing regulations with due diligence – Since cryptocurrency is increasingly becoming part of the mainstream economy, it has attracted the attention of regulatory bodies all over the world. Make sure to comply with the current securities laws in the market. Ensure to understand the impact of the guidelines issued by authorities and how it will have a bearing on your upcoming project. It is better to hire a knowledgeable attorney for ensuring that your company stays on the right side of the law always. This will help you to position your firm for a successful ICO launch in the competitive industry.
- Understand the needs of your audience – Make sure that the target audience understands the benefits offered by your product clearly without any confusion in their minds. You should appeal to two different kinds of audience, those who have a good knowledge of digital currency and those who do not even know the meaning of Bitcoin. The technical aspects must also be explained in an easily understandable way. Gaining trust and receiving constant support is highly important for an ICO. The ICO marketing campaigns must be designed in a customized manner. It has to support the experience and interests of your target market. Tailor your messaging utilizing tools such as social media and public relations for driving your project’s statement far and wide. Other methods such as organizing bounty programs, hiring well-known personalities as your brand ambassador, and allocating tasks towards community managers would also work wonders. If you are speaking to an audience who have adequate knowledge of finance, then it makes sense to talk about token economics and other analysis since they would be well-versed related to that topic. Once they know your benefits, you can figure out the most important channels to use and the tone of voice.
- Indulge in effective storytelling – Compel your target audience to take the desired action by offering valuable insights especially to your potential investors. Supporting any social cause would do a world of good for marketing an ICO. Circulating your mission statement in a well-packed campaign would fetch more funds for your business. You can also facilitate your investor to take part in pressing social issues to drive public goodwill.
- Keep your website up to date – All the latest news about your company should be accessible to the investors through your interactive website. The CEO of the business firm will act as the central source of communication to potential investors interested in funding the ICO project launched by your company. Well-defined digital communication across various channels is a crucial skill in today’s modern world.
- Utilize the power of data – Data is highly important today to share insights and take note of trends through the use of statistics. Since investors rely on evidence before deciding to invest, analysts can create proof showcasing the excellent value offered by your business. Create interactive graphs and charts for enabling better decision making. Reporting the progress made by your company regularly gives additional exposure to your project and creates transparency in the minds of investors through the insights shared by reporters and analysts. Measure the progress made in your ICO with well-defined KPI’s (Key Performance Indicators) to evaluate the results achieved from your end. Randomly creating content or organizing events without any proper plan may prove to be disastrous.
Executing a successful ICO in today’s changing market conditions is a humongous task. Extensive preparation and in-depth coordination is needed to secure a significant amount of investment.