The ICO revolution has commenced. For companies utilizing blockchain technology, ICOs have now become a preferred route for fundraising. It is an excellent option for companies to best offer the utility of whatever their respective product or service actually is, to a large group of people. On any given day, there are numerous ICOs releasing. Therefore, it is critical that a company differentiate itself and market its ICO effectively. Yet, the strategies for ICO marketing are constantly changing. What was effective last year, may not be as effectual this year.
In this article, four crypto marketing experts provide valuable tips for ICO marketing.
Attend Crypto Events And Conferences
“Where do you find the largest collection of cryptocurrency fans and investors? At crypto seminars, events and conferences happening all over the world. Many of these conferences are always looking for speakers so it’s your chance to prepare your best pitch and present it to a large audience. However, don’t be overly promotional at these conferences and make sure you provide value.”
Amine Rahal, CEO of IronMonk, a leading digital marketing agency with a vast experience in ICO marketing.
The Four Top Ways To Market Your Company
“As Bitcoin is gaining its followers and investors, so are many new ventures working their way in the market by introducing some new technology to kickstart their business. More and more business and preparing themselves to introduce “Initial Coin Offerings”, or ICO.
The marketing of any crowdsource or crowdfunding business is difficult. The following are the top four ways you can market your business to investors and to the consumers:
Learn the rules, as per SEC [Securties and Exchange commision] suggests that some of the cryptocurrencies are actually securities. Understanding the rules might help you in sustaining the business.
Update your website, as the marketing on social media, is important, same goes for the website. You customer or visitors might visit your business website and he or she might find something interested.
Have a solid team, as nothing shouts “Scam” when you have an anonymous team. Make sure the team is presentable and should have an About Us page on your website.
Build a brand. Brand awareness and community building are two of the main focuses of this business to create transparency. Transparent businesses are crucial because it removes fears from investors who are investing in the business.”
Adeel Shabir, Content Marketing Executive, GigWorker
Nothing Boosts An ICO Like A KYC/AML Solution
“I believe that the biggest boost an ICO can get is by integrating a KYC/AML solution. It will not only help in generating positive hype about the responsible and transparent tendencies of the ICO but it will help build a positive relationship with regulators and compliance bodies that are otherwise not very enthusiastic about the prospects of an ICO. To explain the impact of using services from a KYC/AML service providers, I will quote the example of Ontology. The base price of its utility token jumped from $2 (more than 10%) overnight as soon as it was announced that they have partnered with Shufti Pro and their market cap reached the phenomenal heights of USD 425 Million.”
Damien Martin, Shufti Pro
White Papers Should Provide Substantive Information
“Select the venue and audience for your offering, carefully. There are complicated legal considerations related not only to which country is the domicile for your ICO, but also who are the target participants (buyers of your tokens) in your offering.
Consider whether or not you intend to incorporate a rigorous Know Your Customer/Anti-Money Laundering (KYC/AML) screening for your buyers. You should understand not only your initial buyers but also the requirements of the secondary market that they may sell their tokens to. If you do not have a KYC/AML program, your token buyers may be precluded from selling their tokens to buyers in most developed countries.
The days of white papers that contain no substance are over. While there are few laws about what a white paper should contain, the maturing of the ICO industry demands that white papers provide substantive information about the offering and why it is likely to succeed.
Good ideas aren’t enough if the offer does not have a credible management team that can not only develop software, but can also market the product and manage the business. Note that there are many laws on what a white paper should not contain.”
Jeff Stollman, Principal Consultant, Rocky Mountain Technical Marketing, Inc.
A Full-Fledged Public Relations/Investor Relations Strategy
“Just a few years ago, an ICO marketing strategy may have taken this well-worn path: build a community on Telegram and for projects that wanted to feel a bit fancy, throw up a few social media ads. Come 2019, that’s amateur hour.
For ICOs—or as is “en vogue” these days, the IEO and STO—to get true traction and investor confidence, a full-fledged public relations/investor relations strategy is the way to go. Too often, marketing tends to be an afterthought with initial crypto offerings. Developing a marketing approach centered on telling a story and building relations with key members of the media, especially in the early stages of the project, will help ensure your offering gets the continued attention through all stages of the business life cycle.”
Anne Szustek Talbot, Director of Content Marketing, BX3 Capital
The popularity of cryptocurrencies and blockchain technology has risen at an exponential rate over the past few years. More companies than ever before are turning to ICOs as the preferred method for attracting investors. Yet, a crucial element sometimes lost in the race to market an ICO, is the technology itself. If a company doesn’t have a legitimate reason to be on the blockchain, then it shouldn’t be there in the first place. Despite ICOs being an easy method of attracting investment, a better option for some start-ups is the conventional route of venture capital. Considering that this space is still regarded as the “Wild West” in many respects, strategies are consistently shifting. However, one fact remains true – branding is crucial. The esteemed Warren Buffet surmised it best when he said that if given the choice between making money, and the brand, always choose the brand.