Sep 102017
 

Promote Your ICO

This is a guide on how to promote ICOs for creators. ICOs are all the rage at the moment, and there are many promising projects out there. However, good ICO projects tend to get drowned out in a lot of noise, which makes it hard for the crypto investors to take a serious look at your project. To promote your ICO to the crypto investor community, you will need to stand out from the crowd and do things differently. This guide will help you to learn how to promote your ICO and run a successful ICO campaign. The information comes from observing several scores of ICOs go through the process. We then distilled down the components of a successful raise versus an unsuccessful one, and figured out the key components of what makes an ICO successful. Here are the tips to help market your ICO to crypto investors.

Tip-1: Have a genuinely good value proposition for investors

This seems like a no-brainer, but you’ll be surprised by how many ICO teams don’t think about what’s in it for the investors. Remember, like any investing, the people are putting money into your idea and they may lose it all. The crypto investors know this all too well. However, as the creator of the ICO, it is your duty and responsibility to minimize the chances of failure, and provide investors a way to increase their chances of success. In case the product is successful, then the investors who put money into the ICO should be rewarded.

Don’t create unnecessarily large incentives for the team and advisers. You should aim to give away more than 50% and usually up to 80% of your tokens to the ICO investors because they are taking a huge risk. If you have inflation, make sure it makes sense and is used sensibly to improve chances of a successful product.

Make sure that if the protocol is successful, then the value flows to the ICO investors, i.e. they share in the project success.

Tip-2: Fill in the essentials: Whitepaper, Roadmap, and Team

Don’t skimp on this aspect. Think of what a venture capitalist would look at – team, vision, future of the industry and market dynamics, team dynamics, etc. These are all the elements that crypto investors look for as well. Therefore before you promote your ICO, you should get the basics right. Make sure your whitepaper is thorough. Whitepapers are not marketing documents. You need to provide all the technical details of the project in this document.

There needs to be a clear roadmap on where you see the product and protocol and how it evolves over time. This needs to be commensurate with your ask from investors, i.e. how much you’re looking to raise in the ICO. Make sure these are congruent and not ridiculous money grabs.

Finally, make sure the team is solid and that you have at least one serious blockchain developer. You also need members of your team to be proficient in your market/industry with experience. Highlight these experiences. Have a bio for each member of the team and what they bring to the table.

Tip-3: Use Bounties to Reach the Community

Now let’s get into the strategic aspects of how to promote ICOs. You will need to reach the community, and one proven way is via bounties. This almost always happens on Bitcointalk forum’s bounty section. It is usually better to hire a bounty manager and pay him a decent amount to manage and run the bounty on your behalf.

Also, you need to structure the bounty correctly. You should allocate a minimum of 2% for all the bounties. The most returns are obtained for Bitcointalk signature campaigns and articles/blog campaigns. After that come the social media campaigns like Twitter and Facebook. Pay more attention to Twitter than Facebook because that’s where the community really engages. Finally, have decent bounties for translations and community engagement in those threads. You can also use the Viral Exchange for running your ICO bounties.

Tip-4: Advertise on Authoritative Sources

Advertising is another way to reach the community. There are several ad networks you can use. CoinURL is perhaps the oldest ad network in the crypto space. There’s also BitMedia and CoinTraffic that are coming up now. CoinTraffic has pop-under ads on some of the most prominent sites like Coinmarketcap.

Tip-5: Engage with the Community

There’s no substitute for engaging with the community. Your best bet to promote your ICO to the crypto community is via Slack, Reddit, and Twitter. Focus on these three and other platforms like Facebook can take a back seat. You should reply to community questions and concerns promptly. Hire a crypto social media manager if you need to. If you do this, make sure the person is well versed in the crypto space. This is essential, as regular social media folks don’t tend to understand just how unique crypto communities are.

Photo Credit: mkfeeney

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