The amount of projects which organize ICO’s is constantly increasing. In 2016 the amount of raised money was 96,3 million. In 2017 188.8 billion dollars was raised by 1,624 ICOs. The statistics shows the significant growth in the amount of projects which use ICO as fundraising instrument.
Having so many competitors around one should do his best to promote his ICO campaign in the right way.
Here we’ll discuss the main pillars of successful ICO marketing strategy.
Building an Effective Website
Your website is your window shop. The shop which window display looks untidy or shabby will never become popular.
In the same way if the website of your ICO is slow and unappealing its extremely unlikely that it will attract the investors.
On the contrary if your website looks modern and creative and works fast at the same time investors will appreciate it greatly.
Your website should not only look attractive but should also consist all the important information about your project.
It should be easy for potential investors to find the instruction on how to invest in the ICO and the information about the team of the project. Whitepaper which sets out a clear vision and timetable for the project should be available as well.
It’s also helpful if ICO website consists special section that tempts investors to become whitelisted (‘an exclusive list’ of possible contributors) or take part in any pre-sale.
To explain potential investors the main principals of taking part in the ICO one can use short video which people could watch using a link on the main page of the website.
The price of building an effective website could be very different – from hundreds to thousands of dollars. But considering that website is the focal point of ICO marketing strategy one definitely shouldn’t try to decline the cost of the project by skimping on the website. Obviously, it doesn’t need to cost the earth, but there are certain expectations of an ICO website – modern design, clear navigation, and informative, which should all be delivered.
Using PR and Media Outreach
The main target of PR and Media Outreach is to tell people about your ICO project and to make them interested in it.
The best way to maximize your PR and media outreach is to publish press-releases on your project on top-tier sites. Of course at the beginning when your ICO is not popular enough you will have to pay the owners of these sites for the advertisement.
Another great option to promote your ICO is to publish articles in the most popular crypto media outlets. There are a lot of crypto sites which are ready to publish well-written articles just for free.
It should be mentioned that there are two main ways to organize effective PR and media outreach for your ICO. The first way is to use the services of special promotion agency which will provide you with a handful of press releases and articles to be published on top-tier sites, all at a cost of around $50k.
The other option is to DIY (Do-It-Yourself) which is much cheaper ($10,000 – $20,000) but requires large amounts of work and research involved at the same time.
Organizing Effective Social Media Management
Its very important for your ICO project to get the trust of cryptocurrency communities taking place on such channels as Facebook, Reddit, Telegram, LinkedIn and some special forums.
Making their decision about taking part in your ICO potential investors will definitely make a research on the reputation of the project in social communities.
Working on forums and social media channels requires a lot of time and effort. Even if you decide to do it on your own you ll still need $5,000 to find knowledgeable managers who can administer a successful social media management (SMM) and community strategy.
At the same time if you decide not to do it “in house” but to use the services of special marketing agency instead it could cost $50,000 or more.
Using Bounty Programs to Boost Your ICO
Bounty program is one of the most effective instruments to promote your ICO. Based on effective rewards methodology bounty programs attract investors and other stakeholders to your ICO in a quick and successful way.
To formulate effective Bounty program one should take into consideration that by offering too little, or no rewards at all you run the risk of not optimizing your campaigns. At the same time offering too much you can make some investors view the ICO as a scam or not a worthwhile investment.
Speaking about money if you pay the company which organizes and oversees your Bounty campaign from the beginning to the end it will cost $3,000-$7,000.
It is recommended that any ICO should set aside between 0.5-1.0% of their tokens specifically for bounty programs, depending upon the project’s individual needs.
Taking part in ICO Listings and Crypto Events
Getting your ICO on special sites which list ICOs (ICO rating agencies) could be extremely helpful for the promotion. Some sites provides such services for free but if speaking about popular rating agencies they will definitely charge you rather significant amount of money.
Taking part in the events and conferences centered around the crypto and blockchain industry is also a great way to promote your project.
Whether you attend such event or sponsor it or host it that’s the excellent chance of networking and communicating your ICO (Initial Coin Offering) to interested parties.
As a conclusion it could be said that to promote your ICO project could be rather challenging and expensive but considering the amount of competitors around and the brilliant result which can be achieved by successful marketing strategy it’s always well worth it.