- April 21, 2020
- Posted by: faizan4it
- Category: Business Finance
In the past few years, blockchain and cryptocurrency have changed the way financial transactions take place and even disrupted a few industries. The emergence of IEO/ICO has revolutionized raising funds for new ventures, but running them is no piece of cake.
Given the tremendous results and immense popularity of tokens, a lot of budding entrepreneurs tried to jump on the bandwagon. They failed to realize that they must create a buzz about their company while attracting and retaining investors.
Despite having many similarities, ICOs and IEOs have a very different organizational structure and need to be marketed differently. You have to decide the type of fundraising mechanism your project requires and devise a clear strategy depending on what you want to achieve and your core strengths.
We reached out to a well-reputed IEO/ICO consultancy agency and marketing firm, and took their insight regarding designing, fundraising, and marketing of tokens. Having a longstanding presence in the crypto community, they reveal some futile IEO/ICO strategies to establish your token in the market and generate more money in the long run.
Get to Know Your Target Audience and Ensure their Engagement
As cliché as it may sound, knowing your target audience is going to remain a lifelong strategy and will also work in 2020. Come up with such a marketing campaign that hooks your target audience. For example, if you are targeting millennials, research about the things that are piquing their interest and implement them in your marketing strategy.
This engagement is not just limited to the investors but involves the exchanges as well. It is extremely important to run a marketing campaign before you can be picked by an exchange. Fierce competition exists among blockchain projects that are seeking the launchpad of exchange, and those with an already effective market presence are likely to be chosen.
Get Featured on ICO Listings and IEO Aggregators
Organic traffic can do wonders when combined with paid traffic. Enlist your project on as many ICO/IEO/STO platforms and websites as you can and let more investors know about your project. Opt for being featured on websites like Bitcointalk.org, which are respected by investors and trader’s community, and give enough exposure to your product.
One of the best marketing campaigns you can deploy is the Bounty program. This way, you give a small number of tokens to whoever joins your program via completing marketing activities like Facebook sharing, Twitter posting, etc. The professionals carry out proper planning and implementation for this and then deploy bots to automate such activities.
Invest in Generating Good PR
PR is a very effective method of disseminating relevant information regarding your blockchain project to the crypto community. By displaying your expertise in your PR, you are likely to make the community at large look at your project and invest in it. One tried and tested method of generating PR is to publish guest posts on various crypto news outlets.
Do not promote your project directly. Rather, choose an indirect approach by educating the community about the benefits and problems within the crypto world, and how your ICO/IEO can bring value to it. Having a good PR at the start of your journey would ensure that you already have a sizable amount of good content about yourself while looking for an exchange to select you.
Use Social Media for Community Management
In any business, communities matter the most, and with the advent of social media, the formation of online communities surfaced, which are easier to manage. It is one of the most cost-effective and popular ways of generating interest from the masses.
Certain sites have more cryptocurrency enthusiasts than others, like Medium, Reddit, and Steemit, and even LinkedIn is not a bad option to spread word-of-mouth. Such online communities are magnets, which attract users and help in completing the fundraising process quicker than anticipated.
The Bottom Line
With hundreds and thousands of IEOs/ICOs popping every now and then, you need unique and powerful techniques to create an engaged community and generate traffic that transmits into funds. The reputation of a project receives the necessary boost when multiple cryptocurrency marketplaces decide to trade the token.
A lot of blockchain projects choose a bonus structure to encourage investment in their project. The combination of bonus schemes depends on the phase of the project, i.e. private sale, pre-sale, and main sale, with the intention to raise funds for the development of the project. Communicating with investors is as important as devising a strong marketing strategy.
To incentivize the investors, can guide you in choosing the right marketing strategy that will get you the anticipated returns and results. A clear marketing message will put you in good light with the investors and diminish the possibilities of being overlooked in heavy competition.