How To Build A Successful ICO Marketing Plan In 3 Steps

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ICO Marketing Plan

According to Coin Telegraph, At the end of 2017, Initial Coin Offerings (ICOs) raised more than 4 billion dollars for their projects and, according to some measures, have even exceeded the risk capital funds as a means to secure the finances to launch a business.

The new ICOs continue to increase as companies look for flexible ways to raise funds that can boost their business and, when done correctly, establish a dynamic community of loyal investors.

As an additional benefit, cryptocurrencies launched through an ICO can often be negotiated by merely trading digital currencies securing extra capital. For example, at the beginning of last year, Ripple and its accompanying CRP token were worth less than $ 0.01. Today, it has the second largest market capitalization of cryptocurrencies, and its founders are now as wealthy as some of the most related technology experts.

Even with all the success they have, ICOs is not a perfect mechanism. In December, SEC chief Jay Clayton issued an official statement that seemed to simultaneously support the cryptographic ecosystem while reminding investors of the risks associated with it. Besides, the class action lawsuit against Tezos represents one of the worst faces of the ICO boom.

If you are considering launching an ICO, there are some critical steps you have to take before bringing it to light.

1. Draw a roadmap

Like any company, a successful launch of an ICO requires you to understand your product, target audience and growth strategy.

Usually, this starts with an informational document. This document is a first class general description of your project and serves as a technical plan for your project. Your technical report should be accompanied by a roadmap that documents your schedule and provides investors with reasonable expectations for its launch.

There are a lot of resources and platforms available that help you research the field and prepare your investment presentation.

Once you have the necessary guideline for your product established, develop a plan that includes a price and protection strategy for your investors. Depending on your product and use, specific legal qualifications provide parameters for its release.

There are several price models, including an indeterminate price, a fixed price, a Dutch auction and an ICO price increase. One of the most important parts is the development of discounts and rewards for investors that can be vital in attracting the first buyers, a common practice among start-ups.

2. Let the experts do their job

When starting an ICO, relationships are everything working on the project alone will not get your project very far. Keep in mind that you need a team of skilled professionals who can account for every aspect of the launch of an ICO.

Developers with established backgrounds, markets, strategists and legal advisors can help you turn your ICO ambitions into a complete launch strategy. The independent Upwork platform identified Blockchain-related skills as the second fastest-growing skill on its platform, so there are many alternatives if you do not have everything covered in your company.

There are even entire platforms that contact ICOs to help fill the lack of talent within their companies.

3. Spread the message

Marketing and PR strategies are essential tools to help you stand out in an overcrowded field of IC markets. Before you start, set a solid marketing budget to ensure that you can effectively spread your launch. While the numbers vary widely, the U.S Small Business Administration recommends allocating up to 5% of gross revenue to your marketing campaign.

For ICOs, a marketing campaign included traditional social networks and web advertising, but also direct communication and demonstrated influence in the crypto industry.

Communicate your goals and progress every step of the way in today´s social media such as Facebook, Twitter, Reddit, even YouTube. Many ICO´s are also developing their conversation in Slack, and Telegram messages. All of these platforms are valuable marketing must´s for an ICO. These tools & channels also form communities that allow you to connect with your customer base after your launch.

You will also demonstrate experience in the industry by participating in the active online cryptographic communities such as Bitcointalk. Well-placed items on powerful platforms can be beneficial in explaining your value in the industry and gaining the trust of your investors.

Keep in mind that the product will always be an essential component of a successful ICO, but a combination of a captivating product, a trained team and an effective marketing campaign are all necessary elements to make your ICO launch a success.

Article contributed by SAAS Genius