Having a competent ICO marketing strategy will help you successfully launch your ICO in the market. ICO marketing involves the use of online promotional tools (both free and paid) to showcase your ICO among the target audience.
Steps to Follow Before Initiating Your ICO Marketing Plan
- Ensure that you are confident of using blockchain technology in your business operations. It must be technically and economically feasible. There should be an appropriate use case for utilizing a distributed ledger. Blockchain cannot solve all your organizational problems in one shot.
- Strategize on how the cryptographic token will be integrated into your enterprise. A suitable product or service that can be tokenized must be created. Decide on the total supply and price of the token. You might need to hire competent financial planners for this task.
- The token must have a utility value. Its value must appreciate over a period so that investors benefit from investing in it. In case you are planning to offer a securities token to your investors, ensure that you comply with all the securities laws set by the regulatory body in your jurisdiction.
- Comply with the KYC (Know Your Customer) and AML (Anti Money Laundering) norms. Some countries like China and South Korea have issued a blanket ban on ICO’s. Crypto regulations are also evolving from time to time.
Aspects to Consider While Formulating Your ICO Marketing
- Make sure you have a unique idea that has not yet been offered by any of your competitors in the market. Evaluate the features of your product before launching it officially. Study the existing market conditions and time your ICO launch to perfection. Also, analyze the strengths and weaknesses of your competitors before proceeding with your ICO marketing plan.
- Hire a set of knowledgeable team members well-versed in different fields like project management, public relations, social media engagement, a certified public accountant who knows the intricacies of digital currencies, and a dedicated technical support team.
- Make sure you do in-depth market research, understand the interests of your target audience, prepare a professional whitepaper, and have well-defined goals in place.
- Decide the platforms to promote your ICO such as Facebook, Twitter, Reddit, LinkedIn, Instagram, Steemit, Quora, YouTube, Slack, and Discord.
- Also try to showcase your ICO on popular discussion forums like Bitcointalk, Cryptocurrency Talk, and Bitcoin garden.
- Share engaging guest posts on top industry websites like Coin Telegraph and CoinDesk for getting more exposure for your ICO.
- Organize trade shows, optimize your website, indulge in paid advertising, direct marketing campaigns with flyers, and share press releases with the leading media outlets.
- Answer all the queries asked by your investors swiftly and treat them well.
- Organize bounty campaigns where rewards will be distributed to investors in the form of free coins for performing specific tasks. It will boost the awareness of your ICO by many times. However, giving away too many free tokens can lead to a bad image formed around your ICO which would harm your reputation in the industry severely.
- List your ICO on the top listing sites like ICObench, ICOmarks, and ICO Drops to increase the exposure and coverage of your ICO. Most of the websites will charge a fee.
- Share newsletters through email marketing by having an excellent copywriter on your team. Ask the interested investors to sign up for your regular email updates. Create an effective autoresponder sequence to save time and costs without needing to send emails manually every time.
- Team up with famous ICO influencers popular on platforms like YouTube and Instagram to spread the positive buzz about your ICO.
- Try affiliate marketing where affiliates will earn money based on the number of leads they generate. It has a lot of benefits as it is economical, you pay only for the conversions made, no chance of fraud through improved transparency and better tracking, and advertisers can receive information instantly without needing to wait for detailed performance reports.
Two Main Areas of ICO Coin Marketing
- Pre-launch marketing – This involves announcing your ICO project to the crypto community and getting as much attention as you can. You will have to outline your business plan and technical details in your whitepaper. A detailed roadmap of your project has to be developed. You have to address all the questions asked on a timely basis during the pre-marketing phase. Apply a financial value to your token during this stage. Share a unique value proposition to your target audience and keep your potential investors always in the loop.
- Post-launch marketing – Your work will not get over once you have launched your coin in the market. Your investors need to be shared with timely information in the form of regular news and updates. Your website has to be updated with the latest events every time. You can also conduct an Ask me Anything (AMA) session to address any doubts and queries of your prospective investors. Compare the progress made in your ICO project with the predetermined roadmap and find out whether you are behind or ahead of schedule. Also, implement the best security measures like the end to end encryption and two-factor authentication on your website to safeguard it from hackers and phishers. This will enable you to protect your investors’ sensitive information which includes their data and funds.
Future in Store for ICO Marketing
With the ban on ICO advertisements by the big tech giants like Facebook, Twitter, and Google, there has been a huge restriction in the ad space for ICO’s on the Internet. Most of the investors these days are not satisfied with the presence of just a whitepaper, they want a full-fledged minimum viable product (MVP) in place. As governments across the world adopt blockchain, ICO’s will be regulated better and investors will be provided a safe and risk-less experience. A firm aspiring to launch an ICO must take care of different aspects like project development, undertaking rigorous marketing campaigns, and managing their reserves. Hence ICO’s are still undergoing the process of evolution. It started with promises of big-bang growth and high returns. Now the emphasis is more on conservative expectations in the form of steady returns and safety.