The ICO marketing industry is changing rapidly as new ways of attracting investors are emerging, while some platforms are no longer drawing the desired level of traffic. In this op-ed article, Mofassair Hossain—investor, marketer, ICO adviser, and a world-class expert in marketing and PR of ICOs according to ICObench—will tell you all about the ways of avoiding the difficulties arising in the practical implementation of a marketing strategy.
From a recent analysis, we determined that an average of 30 to 40 ICOs are launched every day. In such a crowded space, how will a new ICO survive? That’s the million-dollar question. Marketing is certainly the most important factor in any ICO’s survival.
About 90 percent of ICOs failed to meet their targeted funding goal even though many had strong technology, clear visions, and desirable products. Some failed due to having too small of a budget to realize the goals laid out in their roadmap. Some had big budgets but did not allocate enough money or time for marketing, and consequently, they never received adequate exposure. In order to manage resources wisely, it’s important to understand all key facets of ICO marketing, both free and paid.
Free ICO marketing tactics:
An ICO should have representation on all popular and relevant social medias, such as Facebook, Steemit, Twitter, and Reddit. The page should be filled with strong content, and team members or moderators should actively communicate with interested investors.
Widely-recognized ICOs often hosted bounties and airdrop promotions which were translated into different languages to reach the broadest audience possible.
Individual Telegram groups for each major language in the crypto community (English, Chinese, Russian, Portuguese) can also help reach a vast audience.
The project should be posted on ICO listing sites and calendars.
Social media marketers should create unique content and encourage bounty hunters to share it.
Marketing content managers should also post news related to their ICO across Facebook and LinkedIn.
A review from a social media influencer can draw a lot of attention and build trust.
After taking these actions, an ICO will surely receive a lot of exposure. If investments are drawn from these free methods, that capital can then be used for paid marketing. Paid advertising plays a vital role in any successful marketing campaign, and paid methods usually require less time commitment from the project’s core team.
In addition to crowdfunding, it’s also advantageous to reach private investors such as venture capitalists. Attracting such private entities to a new ICO requires a few important considerations:
A business plan.
Token economy, with information such as the total supply, token allocation, and price per token.
A marketing plan.
A whitepaper that is thorough and easy to understand.
A one-pager (condensed whitepaper).
A short explanation video to entice investors to read your whitepaper.
Once an ICO has all of these pieces refined, they can schedule private investor meetings and send funding applications to hedge funds. Preparing a proper marketing plan and creating a thorough presentation package for investors can help ensure a new project’s success in the saturated ICO space.