The concept of initial exchange offering is not new anymore. So it makes sense to acknowledge the best IEO marketing practices that work for blockchain projects today.
How was it that Fetch.AI was able to raise $6 million in just 6 seconds through IEO while BitTorrent raised $7.2 million in just 15 minutes?
Ocean Protocol, meanwhile, lost 80% of its IEO price immediately after it started trading on Bittrex exchange. The reason for the quick dump is that too many investors go for “short” even when it is a long term project.
These developments show that the IEO fundraising model is not flawless and companies must work harder to achieve success.
In this article, we share insights and best IEO marketing practices that will lead blockchain companies to success through every stage of IEO of the IEO process.
Best practices for IEO projects
1. You need an effective social media strategy
Social media marketing is a great way to get your IEO marketing off the ground. Social media allows you to reach target investors with ease while engagement through social networks allows you to interact with investors across the globe. However, you need to focus on the most relevant social media platforms. These are Bitcointalk, Reddit, Steemit, Quora and Telegram.
In Bitcoin talk, for example, you could boost engagements by sharing your project through ANN post, interacting with community members, and then using those feedback to improve the project. Besides Bitcointalk, you can also leverage Reddit to increase your IEO marketing results. However, you need to create high-quality content that is both valuable and relevant to achieve success. If your posts receive lots of votes and reach the top, the exposure is huge and could drive huge traffic to your website.
Another best social media strategy for projects is that you must always have an active Telegram group. This will help you want to build a strong community around your project that you can tap into to ensure successful fundraising.
2. Write on your company blog not Medium
If you are keen, you must have noticed that many blockchain projects publish updates on Medium rather than their blogs. Why? Because content on Medium usually gets ranked high on Google due to its high domain authority. But that strategy may not be effective in the long-term. Writing on Medium helps to create the buzz now, but it won’t help you convert that traffic into investors because very few people will visit your website.
One of the best practice for IEO marketing is to focus on building your brand by creating high-quality content on your blog. Quality content that incorporates relevant keywords ranks pretty high in the search engine result page which in turn drives traffic to your website. Writing on your blog also ensures that visitors are staying on your site which helps to boost conversions.
3. Build trust
Building trust is an IEO marketing practice that absolutely cannot be overlooked. Of course, you cannot buy trust or force the community to believe your company is trustworthy. You must work to earn trust.
Trust is something that you build and nurture by engaging with the community and building relationships. Projects that put time into consistent quality content becomes believable and authentic. Also, you need to communicate—with clarity and consistency—about how your technology is viable, convincing and promising.
Once you have built trust with your project, consider partnering with a reputable exchange for your IEO to increase chances of success. A popular exchange like Binance will ensure you sell to a wider network of investors. This could also help you to fundraise faster.
Fetch.AI and BitTorrent sold out faster not only because their technology was good, but also because they partnered with a popular and more reputable exchange. At TokenMinds, we have a unique relationship with the top crypto exchanges which includes vetting and submitting highly promising blockchain projects for IEO to the exchange. As such we can assist you with launch, listing, and marketing so you raise funds quickly through IEO.
Contact us now to begin your IEO marketing campaign.