Marketing an ICO is usually a delicate balance. You do not want to end using too much funds on marketing since you want most of the gathered funds for the development of the project. Therefore, you will have to find the most cost efficient and yet effective way to market your ICO.
Also, it is very easy to spend too much on the ICO but still end up getting lo ROI in the marketing campaign. So how do you keep the balance?
Below are some of the key points to consider during the ICO marketing:
- Create an attractive website
The website will always give the first impression to your prospective investors. Therefore, you should ensure that the first impression is perfect. It should give any visitor the desire to peruse the website more and the feeling of wanting to stay on it.
You should work on the design and structure of the website meticulously. Actually, you should have professionals do that for you.
Some of the most important sections that the website should not lack include: About Us Page, Team, Information about your token, The Investment Return plans, Your ICO timelines and conditions, and Whitepaper.
After doing the website, you should have a professional market it on social media as well as on the search engines. For the search engines, you could Search Engine Optimization, especially for articles and blogs.
- Quality whitepaper
Before doing anything in an ICO, you will need a very detailed whitepaper. The white paper should give people everything they need to know about your project.
You should ensure that someone does not remain with questions after reading your whitepaper. It should cover the problem you intend to solve, how you intend to solve the problem (including a clear roadmap), the market, the people/team involved (showing their qualifications), target amount for the ICO and how you intend to use the collected funds.
- Avoid buying your Community
The best way to get people on board your project is by letting them to freely choose to support you after finding out that your project is viable. Your part should only be providing a convincing and honest whitepaper that gives the investors a detailed outlook of your project.
You better have 10,000 people honest people supporting your project than a million fake members who only joined because they were promised some money since, without the money, you can be certain you will not have their support.
Some people may opt to use bounties but bounty hunters will most likely give you little or no value.
- Talk more about the problem you want to solve
When marketing your ICO, ensure that you tell the people what you intend to solve. Also, let them see how you intend to solve it so that they can judge whether it is a viable project or not. With this, people will gain enough faith in the project and want to be part of it.
At the same time, you should also focus on how you shall get partners and also get listed on exchanges. Also, tell your prospective investors what will trigger the usage of your coins besides the buying and selling on exchange platforms.
- Avoid giving out too many tokens for free
It is true that free tokens bounties and coupons could attract customers, but for ICOs, it may end up causing more harm than good.
Most of the people who get the tokens for free are just after making money by selling the tokens on exchange platforms once the tokens are listed on exchange platforms. Therefore, rarely will those people participate in other activities within the blockchain network that could help in developing the project. Remember that other than buying and selling the tokens on exchanges, the token should have some other usage like paying for services within the network. Therefore, you should have investors who are willing to go an extra mile to use the token in the real project other than just waiting to sell the token on the exchanges.
After all, it may take some time before the token gets listed on exchange platforms.
Remember that cheap is always expensive in the long run!
- Use the most effective platforms to promote your ICO
For many people to see your ICO, you will have to get it across as many platforms as possible. However, you should ensure that the platforms that you choose to use are effective (such that the ICO can be seen by as many people as possible without investing too much money into it).
For instance, some people may opt to use PR articles and end up paying too much money on the article. It is okay. But there are cheaper ways of promoting your ICO. One of those ways is by making use of social media outlets. Some of the most effective places to post about your ICO are Twitter, Quora, Steemit, BitcoinTalk, Telegram, Discord, and Reddit.