As cryptocurrency gets increasingly popular among startups and established businesses, equally, we are going to be seeing more companies positioning themselves for Initial Coin Offerings or ICOs.
An ICO is essentially a fundraising process for startups building cryptocurrency companies. Throughout a crowdsale, early supporters get a proportion of the startup's crypto-currency. Frequently, the currency used to facilitate an ICO is bitcoin.
Much like Initial Public Offerings (IPO), successfully promoting an ICO could be as complex as it is rewarding. Even though ICOs are relatively new, lots of startups and technologists think they will come to be increasingly prevalent in the near future as more burgeoning startups explore the implementation and application of cryptocurrencies.
Here are 6 tips to advertise an ICO successfully.
1. Find Out Your Market
ICOs are not for every provider. Even though the idea is new and exciting, not every industry is embracing the implementation of cryptocurrency. Many cryptocurrency supporters believe blockchain systems may and will impact every major industry, for the greater. But this impact probably won't happen overnight.
One of the initial questions you should ask yourself if you are toying with the idea of an ICO is the way you will integrate digital tokens to your enterprise model. In the event the addition of digital money won't inherently add value to your product or service offering, then the IPO route might be more acceptable for your venture. ICOs are still largely relegated into the blockchain world, but it doesn't indicate that the more verticals will not soon test the water.
2. Learn & Master The Rules
For many years, cryptocurrency was viewed since the Wild West from the startup investment planet. However, as it becomes more mainstream, it's really becoming more controlled. Back in July 2017, the SEC ruled that some electronic coins are in fact securities. Securities law is thick and more complex, but you will need to be certain you know the fundamentals. You should definitely have a lawyer for your more advanced rules and regulations, but a basic knowledge of the rules will you ensure your company is about to maintain full compliance with regulations from the start. This first ruling is largely viewed as a sign of what's to come: the SEC won't allow ICOs to fly beneath the radar. If you would like to place your company for a successful ICO, you have to educate yourself to the SEC's criteria for what constitutes a security in the digital coin arena.
3. Cognize Your Audience
The cryptocurrency planet is still mostly shrouded in confusion and misunderstanding. As you approach your ICO, you will most probably be talking to two distinctive audiences: people using a breadth of digital money knowledge, and individuals who really don't know the distinction between Bitcoin and blockchain. This second class probably understands the developing standing of cryptocurrency, but they might not realize the technicalities.
It is your responsibility to make marketing and PR stuff that speaks to both sides of this spectrum. Through thought leadership, social networking, and more customary PR hits, you have to thoroughly define and tailor your messaging to encourage the interests and experiences of your target audience. By way of instance, if you've got the opportunity to present a statement into a biotech centered outlet you've got the liberty to offer deeper comprehension and insights into the way you are Implementing digital components because the viewer of the socket is (probably ) already versed in the topic.
4. Express Your Story
Along with offering exceptional insights towards your promotion plan, offer your insights to your potential investors. Produce a sincere narrative about your institution's purpose to be able to induce a desire to support your cause. A current illustration of this is currently UTRUST, who has recently gotten notoriety because of its socially accountable objective of fostering emerging economies through an easy-to-use protected, secure, and accessible banking system.
You need to provide traders a reason to give your business money and you can do that by providing them along with the story behind your mission statement. 69 percent of Millennials want companies to better facilitate clients getting involved in social issues, and many investors do, as well.
5. Update Your Website
Besides social media, make sure your site is current and present with all your company's most current news. As CEO, you're going to get pulled in many directions during your ICO, therefore, it's important to have a fundamental source of upgrades for potential investors who want to research your company. Communication, even electronic communication, is considered the most important ability.
6. Render Your Data
Info is significant; there are 2.7 zettabytes of information out there today. Trends and data are crucial elements of demonstrating the value of an investment into your company. Investors need proof -- and by supplying your data to analysts during your offering, you're giving them concrete evidence that your business will excel. Additionally, you are going to acquire additional exposure simply by the fact your company is going to be reported on regularly as long as you are supplying your data to reporters and analysts.
Implementing a thriving ICO is no easy undertaking. A lot of preparation and coordination goes into ensuring a newly public company can secure as many investments as possible.
What are some other tips you can share for successfully marketing an ICO?