ICO Funding Explained
With the advent in the decentralized market, ICO is soon starting to rise at a rapid rate. Well-established businesses and Startups across the globe, are starting to learn more about ICO, to raise funds by trading their cryptocurrencies like Bitcoin, Ethereum or Ripple.
While you are about to launch your own ICO, it is crucial for you to consider the things required to set you up a reasonable position in the market of ICOs. The success of an ICO relies on a marketing strategy that is well-planned and executed as it lets you overdo your potential market.
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There were more than 900 ICOs raised in 2017, with only 434 of them succeeding; rest failing soon after raising funds. The number of efforts you put into your ICO marketing can influence people to invest in your ICO.
Before discussing the ICO marketing strategies, get to know what it actually is.
ICO is the acronym for Initial Coin Offering; it is basically is an illegal way to collect cryptocurrencies. ICOs are operated by several cryptocurrency organizations to acquire capital funds needed to start the project.
Things that you should know before marketing your ICO:
ICO Funding Marketing Strategies
Creating Community using Whitelisting
The success of any ICO is not evaluated by the number of tokens sold, but the size of the community you create through the entire ICO marketing process.
Thereby you need to use a whitelisting campaign while you are building a community. With the campaign, you can create a group of members for the once interested in ICO, develop an email base and create company awareness.
As you create a whitelist, it is important for you to know, the audience is not defined by its number, but by the number of potential investors.
Also read, Why it’s important to create Consensus around ICO
How you can create an ICO whitelist:
As and when people start signing up on marketing website, they receive a following position on the whitelist.
You can also use the proof-of caring stake that will explain to you the position in the queue is checked by the contributions done to build a community.
It shouldn’t concern to you if the whitelist is full; also, you are still allowed to make contributions like:
- Post about it in Groups and Forums
- Referrals to other whitelists
- Sharing posts on social media sites
- Guests Blogging
Once you create a community via whitelisting, to have audiences interested in your project, you must produce quality content.
Press Releases
Press Releases are tried and tested methods to get your message out there to your desired audience. While you are looking for press releases, consider that they must be professionally written and have to be included to the websites that matter. The content for your PR can either be done by in-house, but consider having it done by marketing agencies. These agencies offer experience and also are a useful mode of marketing.
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You might find several free sites that offer to publish your content for free, however, to post on leading websites you need to purchase a premium package.
Sites that can publish your press releases for your ICO:
Coin Desk
ETH News
ICO Crowd
Email Marketing
Email marketing is yet another conventional mode of marketing that can earn you massive rewards.
But due to the bans and restrictions on advertising ICOs, MailChimp, the largest email service providers have recently decided to ban ICO mailing.
ICO email marketing strategy must and should be managed carefully. If you wish to send emails to individuals without their consent, can undoubtedly damage the reputation of your business. You might also incur a significant amount of penalties, also limit your mailing capabilities.
While we speak about email marketing, probably the best approach is to create the list on our own. Although this takes some time, also is not the quickest of options for your marketing solution. If you opt for a marketing agency, they may offer you a list of their own, which can generate excellent ROIs.
Also read, The Future Of Payments Is Here: How Can Crypto Play Its Part?
THE BOTTOM LINE
To make your ICO a great success, you need to opt for a comprehensive approach to marketing; you’d be needing the assistance of an experienced and creative marketing team.
As of now, people are more cautious about the ICOs that are scam; regulations are now rigid as investors are becoming more mindful about the negative impacts it will have on their investments.
Author: Roshan Jha
Roshan Jha is a Passionate Blogger and a Digital Marketing Enthusiast from Ahmedabad, Gujarat, India. He is the founder of BloggingScoops blog. Where he mostly talks about blogging and digital marketing. He has an expertise in Content Writing, SEO, and Social Media Marketing. Know more About Roshan. Follow him on Twitter, Instagram, Facebook.