Initial Coin Offerings (ICOs) are regarded as the most visible convergence of traditional crowdfunding and new technology such as blockchain. Because of the abundance of companies specializing in the creation and launch of ICOs, it has become the go-to option for many crypto entrepreneurs seeking to raise funds. Regulation of ICOs has also effectively addressed the possibility of scams. The effectiveness of marketing is what distinguishes any resilient ICO in this crowded space.This situation has raised an important question: how much does ICO marketing cost
Marketing an ICO is almost like a separate project in its own right. Marketing and ICO involve numerous pockets, platforms, strategies, and stages. On a higher level, the tasks involved in the ICO marketing campaign can be summarised as follows:
- Defining the product, the concept, and its positioning as a solution in preparation for the ICO.
- Understand the global ICO market and the level of competition. Create a dependable and passively profitable relationship with the cryptocurrency community.
- Plan an ICO’s marketing budget with all of these considerations in mind.
- Ensure that all necessary documents are in place, primed, and ready.
- Recognize the regulatory framework that is involved in the process.
- Ensure that you have a competent and experienced team in place to manage your campaigns and activities at all stages.
Creating a marketing strategy for your ICO entails a number of steps that span content, editing, marketing, and public relations, social media, community management, design, coding, targeting, and even some activities after the ICO’s launch. The cost of ICO marketing is determined by the quality of service providers you use for each activity.
It is critical to document each step and its details throughout this process. It is also strongly advised to hire a PR firm with extensive experience in blockchain and ICO. This experience comes in handy, especially when dealing with negative press.
CONTENT
Any marketing expert will swear by the adage that content is king. Content marketing is the focal point of all marketing activities undertaken in the interest of your ICO. Every ICO marketing Plan should, at a minimum, include a content section.Effective content ensures that the pain points your customers are experiencing and the solutions you provide are communicated clearly and unequivocally. This high-quality content also makes it a useful feed for Facebook, Reddit, Twitter, and Telegram.It is recommended that professional copywriters and content managers be hired to ensure that your content adheres to the highest industry standards. Collaboration with them should also aid in developing an effective content strategy.
SPECIFIC SOCIAL MEDIA
When we talk about social credibility in the context of an ICO, we are not referring to traditional social media platforms such as Facebook and Twitter. They are specialized crypto communities and ICO communities where the project and the talking marks must be present.
Participating in these communities increases the credibility of your ICO, and credibility is a valuable currency when it comes to marketing it. There are specialized media resources where we can expect a lot of engagement, such as Hackernoon, BitcoinTalk, Startups, and Venture Capital. You can use this platform to keep key investors up to date on the status of your token sale as well as your upcoming trip to events. Participating in these forms helps to build a positive image with your investors, giving them the impression that you care about them.
Handling these communities necessitates skill sets that are adept at understanding crypto jargon, analyzing the pulse of the community, and addressing specific issues.
RATINGS AND LISTINGS
There are websites dedicated solely to listing ICOs. Listing your ICO on sites like CoinSchedule and ICO Bench goes a long way toward establishing your tokens’ presence in a place that matters to crypto enthusiasts. When selecting the site where you want to list your ICO, make sure to factor in the cost of this ICO marketing service.
There are sites that will list your ICO for free, and there are sites that will charge you 35 bitcoins for a premium listing. Needless to say, there are many websites whose prices fall somewhere between these two extremes. These listing websites also have geographic and linguistic preferences. If your ICO is aimed at a country such as South Korea or Japan, it is strongly advised that localization be made available.
There are auditing firms that will evaluate your ICO and determine a parametric magnitude that represents your ICO’s investment attractiveness. Although this activity can be performed in-house, it is strongly advised that you outsource it to an agency that specializes in ICO marketing services.
PUBLIC RELATIONS
This is one of the most important and difficult aspects of marketing your ICO. The primary goal of public relations exercises is to foster trust. To ensure that trust grows, the published content should not be labeled as sponsored content.As previously discussed, hiring a PR agency with experience in blockchain and ICOs will ensure that the media strategy, media relationship building, press release copy creation, content publishing on popular media platforms, and marketing campaign testing are all effectively handled.YouTube influencers are another new area that is slowly but steadily growing in importance. Influencers’ opinions are so powerful that roughly 60% of investors are likely to take them into account. In order to save money, the quality of the influencers who will talk about your ICO should not be compromised. Consider factors such as the number of followers, their credibility, recent endorsements, and specializations. YouTube influencers are likely to amplify their content on social media platforms such as Facebook and Twitter.
AIRDROPS AND BOUNTY PROGRAMS
The two strategies mentioned above are unique to ICOs and blockchain technology. Airdropping is a passive influencer program in which your tokens are dropped into the crypto wallets of enthusiasts and influencers at random. Airdropping has been found to be so effective that 10,000 subscribers have been added to messaging communities for less than $15,000.Bounty programs, as the name suggests, are intended to compensate people for their efforts in supporting the ICO. Bounties for content creation, white paper translation, and BitCoinTalk signatures can be avoided before lunch. After the tokens are released, you can offer bounties for bug fixes and product improvement suggestions.It is worth noting that these marketing programs are useful because mainstream advertising platforms such as Facebook and Google have completely banned advertisements related to cryptocurrency and blockchain.
GENERIC SOCIAL MEDIA
In all of this, traditional social media should not be overlooked. It is worth noting that platforms such as Facebook and LinkedIn have highly dedicated groups discussing cryptocurrency, ICOs, and their derivatives. Prior to launching your ICO, your social media presence should be focused on gaining exposure and building trust. Following the launch of your tokens, the emphasis should be on moderation and engagement.
As you may have guessed, managing anything crypto-related on social media necessitates both technical and communication skills. Social media can also be used effectively to drive traffic to a website. As you may know, the website should include all of the information about your ICO, including but not limited to the white paper, the founding team, their credibility and credentials, and the tokenomics. If possible, the website should also provide information on timelines and schedules.
OFF-LINE – SALES AND CONFERENCES
There is no doubt that an ICO is a form of digital engagement. The investors, on the other hand, are from the real world. As a result, it is critical to establish an offline presence in addition to a digital presence.In this endeavor, the two most established methods—forming a sales team and attending crypto conferences—can be used.The sales team should be adept at analyzing market pulses. They should be well-versed in both the product and the investors.Crypto conferences allow you to meet your ideal target audience in person. While conference attendance is a good place to discuss your ICO, a few additional engagements such as side events, contests and competitions, personal meetings, and contact exchanges can help to strengthen your presence.
Conclusion
Despite the trough that occurred in 2017, ICOs have recovered to become a prominent avenue for crypto fundraising these days. Needless to say, marketing is what separates the good from the great. As much as you will need to rely on an ICO marketing company to create your utility tokens, you will also need to collaborate with an ICO marketing services company to develop your ICO marketing plan. It is important to remember that the cost of an ICO marketing service is an investment, not an expense
