5 ICO Marketing Tips Startups Should Know
Cryptocurrency is gaining traction among startups and established businesses alike. And thanks to impressive products and ICO marketing, we are set to see more companies place themselves in a position for Initial Coin Offering.
What's an ICO?
Simply put, it is a fundraising method startups could use to build their cryptocurrency business. Utilizing a crowdsale platform, the early supporters could get a share of the startup's cryptocurrency. Although Bitcoin is the predominant currency used in the facilitation of ICOs, it is obviously not the only one and you need quality crypto marketing services to make a dent.
And if you view ICOs are Initial Public Offerings, then you're not far off. In both scenarios, successful ICO marketing could have great rewards or end up being sophisticated. However, ICOs are the newer thing on the market, although several startups and technologists think they will grow in prevalence in the years to come since more startups are exploring how crypto block chain marketing occurrences could be executed and applied.
Read through this piece for 6 tips you can use to run a successful ICO Marketing campaign.
1. Get A Hold of the ICO Market
An Initial Coin Offering might not be the right move for every business. This idea is fresh and energizing, but it is the implementation of cryptos that isn't being warmly embraced by all industries. While supporters of cryptocurrency hold onto the belief that blockchain systems will positively influence all industrial sectors, the truth is that it will not happen in a day.
One aspect you need to bear in mind when thinking about an ICO is the manner in which you would incorporate digital tokens into your already existing business model. If the inclusion of a digital currency won't add any value to your product or service offering, then it would be a good idea to follow the IPO route. ICOs still remain to be the domain of the blockchain world, but this shouldn't stop more verticals from testing things out soon.
2. Understand all Rules When Marketing an ICO
The startup investment space often considered the cryptocurrency realm to be the Wild West. However, its mainstream acceptance has really grown, and so has its integration. In July 2017, the SEC decided that some digital coins could be securities. The existing securities law is complex and thick, but you should equip yourself with the fundamentals and basics. Although you might require an attorney by your side for the highly advanced rules and regulations, having basic knowledge implies that your business will be compliant from the word go. The July 2017 ruling is often perceived as the tip of an unavoidable iceberg, meaning that SEC won't keep ICO under their radar forever. If you want to position your current business to have a fruitful ICO, you must learn that the benchmark of the SEC is for everything that encompasses security at the moment in the bigger digital coin landscape.
3. Know Where You're Giving Information To
Those who are already in the cryptocurrency business can confirm that it is a confusing place to be. As you get your ICO ready, you will most likely reach out to a pair of audiences. One might have vast knowledge about digital currency while the other might not know the difference between Bitcoin and blockchain. However, the second party might understand how cryptocurrency is growing even when they are not conversant with the technicalities.
It is up to you to create blockchain and PR marketing materials that can address the concerns of these two groups. The combination of social media use, conventional PR hits, and well-thought leadership could deliver a refined message to your prospective audience.
4. Share Your Story
Offering your unique insight on your Initial Coin Offering strategy is a good way to go but is still not enough. You should also give potential investors your own experiences. If you have a sincere story about your business's mission and purpose, you need to get it out there. Your story might be the key to convincing a few individuals to join your bandwagon. UNTRUST is a good example, since they are a startup that gained popularity for their socially conscious aim of uplifting upcoming economies through banking systems that were accessible, secure, and easily used.
Do not just give them your mission statement. You should give your potential investors solid reasons why they should put money into your current business by including them in your story. Close to 70% of the Millennial generation needs companies to ease the way customers engage in social issues, and a few investors also want the same.
5. Ensure Your Website is Updated.
Apart from social media, you must ensure your website stays updated with content that reflects your business' latest news. When you are in the cloud of an ICO, you will most probably get pulled in different directions, so it is vital that prospective investors have a centralized location where they can learn about your business. Communication is an important aspect, even in the current digital world.
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