It’s no surprise that since the start of 2017, the blockchain industry gathered interest from people all across the globe. With the top cryptocurrencies like Bitcoin and Ethereum exponentially increasing in value, people became even more fascinated about blockchain technology and how it works. In 2017, we have seen a huge rise in cryptocurrency values, as well as success rates in Initial Coin Offerings (ICO).
What is an ICO?
To put it simply, an ICO is a method of raising money, similar to crowdfunding but is especially done for cryptocurrency ventures. Instead of giving company shares as in traditional IPOs, companies give you tokens with a set amount of initial value in fiat money, which may increase or decrease depending on how well the company grows in the future. Instead of getting profit from shares, you may profit from the tokens given to you should it increase value by selling it to other cryptocurrency traders.
How do I Market my own ICO?
If you are working on your cryptocurrency startup, you should know very well that marketing an ICO is no walk in the park. It takes a lot of time and effort in succeeding with the fundraising phase.
To increase your chances in successfully promoting your fundraising campaign, you have to implement various digital marketing strategies; the core of which would be building your online exposure and applying good public relations practices. Regular social media blasts would be the norm and you’ll usually cold call potential investors that may be interested with your product.
A lot of research and strategic thinking is required. What sets you apart from existing blockchain technologies and who are your target demographics? By building buyer personas, you will be able to assess what digital marketing strategy would work best for your business. But as I said earlier, social media will most likely be your friend.
A little advertising and search engine optimization won’t hurt as well. As people are more familiarized with cryptocurrencies, advertising on platforms like Google Adwords and Facebook Ads, as well as optimizing websites for search have became viable options to get potential investors in the blockchain space.
Of course, no marketing strategy trumps a good product. Before even planning the fundraising phase, make sure that you yourself have a product that you know people need, and will want. If people find your whitepaper interesting enough, you’ll get the investments that you need in no time.
Then again, that would be a lot of hard work, but why invest so much time and effort when you can work with a digital marketing firm like us to help you succeed?
I am a digital marketing strategist from the Philippines. I started with humble beginnings; as an SEO specialist working for a catering company. Fast forward to a couple of years later, I have now worked with some of the biggest names in the industry and working on my own business endeavors. I am a big advocate of blockchain technology, believing that it will shape the future of technology.