Why is marketing for ICO so important? Not all initiators of the Initial Coin Offering understand the true value of project promotion for getting investments for their company’s growth.’
The answer is, the more people you can persuade to buy your token, the higher the price of your cryptocurrency will be, thus, the more income you’ll obtain in the long run. Marketing, based on central psychological principles, is key to effective conviction as it allows you to make users fall in love with your product.
In this article, we’ll provide you with some special tips & tricks you should use to succeed during your token sale.
Ok. Here we go. Imagine you came up with a great idea of a new blockchain-based system. You saw a gap in the market and decided to streamline it with a new, digitized and encrypted method. For example, your idea is to introduce a revolutionary trading platform, more secure and reliable than traditional lotteries and auctions. But before you even start gathering people around it, you must do precise market research first. Because, who knows, maybe the project you want to launch is already invented? Have a look around and check the central ICO platforms, like: https://blockchainstocks.com/, https://www.investopedia.com, https://cryptocurrencies.net/ and many others.
Make sure that something you want to offer is unique and still desirable. A batch of surveys will help you define your target audience – people who will be using your product, and their actual needs and preferences.
Say you have done all that and know that there is a potential demand for the product. What is your next step? You need to present your project idea to the world in a convincing catchy form. For this, compose an exclusive white paper – an official document that describes your business plan, financial model, and benefits of your token in detail. White papers should include all the information about your product, be engaging, and leave investors with no further questions. Here is a nice example of a high-quality white paper written by ReVerb for the promising e-commerce ICO project, BitRewards: https://bitrewards.network/wp.pdf.
Another crucial thing for the ICO promotion is a crowdsale website. This resource will help you get some fundraising for your project. The main difference of the crowdsale model from crowdfunding is that it doesn’t presale an actual product or promise that you’ll be the first product user. What it does is sells tokens. By purchasing a token, you get access to the final project and its partner network. Basically, it is a kind of ticket to the future platform. Without tokens, one will not be able to use provided services from the company and its partners.
When ready, always keep an eye on your website as it is a face of your project. Make it look its best. Use professionals to design and maintain it for you. Include such significant components as: the white paper, project overview, token sale details and time frames, media reviews, team, company contacts, independent product ratings, blog, and newsletter subscription.
Now it is time to create the first ICO pitch and reach out to the popular platforms, listings, blogs, and influencers to be published on their pages.
To begin with, list your product on one (or all) of these websites:
Currently, there is very little regulation on ICOs because it is still pretty new and governments are not sure how to regulate it. Use it to your advantage. Use special ICO promoting services like:
This will be a good starting point to promote your project to the larger audience. Bear in mind that to post your company on some sites, you will have to pay a fee.
It is also a cool idea to ask for a professional evaluation of your product. It could be an experienced trader, a special agency, or just someone who has previously been involved with ICOs.
Use as many social media channels as you can. Start with the most popular resources like Facebook, YouTube, Twitter, and Instagram, and continue expanding to some rare ones, like Bitcointalk, ANN thread, Medium, Telegram, GitHub, Reddit, BitcoinWiki, Investopedia, etc. A little hint: try to set and adjust your analytics in a way that will show you which website generates the largest traffic and conversion.
For example, let’s look at ICO promotion via Twitter, whose advertising power is obvious. Approximately 330 million people use Twitter monthly, and it is among the Top 20 most used websites all over the world. To make yourself noticed by at least a small proportion of this number could be hard. That’s why going to a professional influencer in your field can bring loads of benefits. John McAfee is a cryptocurrency enthusiast famous for introducing many new and promising ICOs to the community. It’s been proven that despite making a tremendous amount of money (around 100.000$) for each tweet, there is a very strong correlation between his promotional tweets and their valuation – eg. a price for a Burst coin grew by 350%!
Promoting ICO on Facebook is a more complicated and sophisticated task since the latest FB algorithms shifted focus to social, not business goals. Advertising appears to be the only prominent way of lead generation. This material provides a dose of valuable insights for anyone wanting to learn how to make the most of ICO using Facebook ads.
However, there is one critical nuance you should keep in mind when advertising. After a rapid decrease of Bitcoin’s value in 2017, many social media platforms banned cryptocurrency ads within them. But apparently, by using the word ‘c-currency’ instead of ‘cryptocurrency’ you can easily bypass the ban on Facebook at least.
Despite being just an example, the subtext is clear – stop using terms which are forbidden and play around with them.
You need to positively participate in discussions on your social media accounts and other resources so that potential investors will see how you interact with your audience. They will also be considering responses and ratings of your project from people who have already used it. Make sure you keep your reviews nice and clean, and that you deal with the negative comments respectively. Basically, gaining trust should be the main goal of your activity. People tend to trust you more when they see some good feedback from past customers and a respectful attitude toward unsatisfied users.
Last but not least, remember that the way you present your own personality as a leader is very important. Always include your LinkedIn and FB profile links, and make sure all of your teammates do the same. Investors want to see real people behind the project.
Let’s take a look at some fantastic marketing approaches the most successful ICO projects have used. For example, Solve.Care is one of the leading ICOs in 2018. It is a blockchain platform for a healthcare industry designed to simplify access to healthcare providers, reduce administrative steps and speed up the payment methods between parties. When you visit their website, you’ll find a very easy to understand explanation on how their system works. It’s super user-friendly and makes you feel like that’s exactly what’s been missing in your life, so you instantly want to try it. If you follow Solve.Care on Facebook, you’ll be surprised how much effort they have put into it. They post new and useful materials at least daily, including the latest company news, announcements, interesting facts from the industry, engaging CTAs, and so on.
What is more, they present their production team via social media to show users the people that have built and are maintaining this complicated product, and even introduce new employees on the Facebook page. Solve.Care’s CEO holds online Q&A sessions regularly and delivers important milestones and updates monthly. All of this is done to gain trust and make people feel closer to the product.
Another inspirational example of promoting ICO is the mobile game platform MobileGo. Their gaming store allows players to use special Gamecredits to buy in-game content. MGO tokens have been bought by over 500 million users all over the world so far. What really helped MobileGo to succeed and boost the ICO were partnerships with Xsolla and Microsoft as part of their marketing strategy. Another brilliant idea was to give away MGO tokens for free just to treat their first subscribers and followers. Their success story shows us that you should always “look for friends” in the tech environment as even one good partnership can dramatically change the fate of your project. Also, don’t neglect to make unselfish presents to double your income in the future.
All in all, creating your ICO marketing strategy is never easy, and choosing the right way to advertise your project could be quite a headache. But as I pointed out in the very beginning, the more people know about your product and the more people trust in it directly correlates with its value and final price. Results of different methods to promote ICO, from developing the website and registering in listings to writing company’s white paper and reaching out to industry leaders, prove that marketing is a key element of any successful ICO. It’s the primary thing you should care about!