ICO marketing is quickly changing, and there is a need for a much more effective ICO marketing strategy to achieve success in 2019.
ICO marketing has clearly changed. Little planning, technical white paper, website, social media growth hacking, FOMO and little PR as a marketing strategy simply won’t work in 2019. The traditional retail investor got burnt by playing pump and dump games during the golden age. After getting burnt by this long bearish market, many of these retail investors either disappeared or moved to the sidelines.
Thus, it will take a lot of confidence building before the retail investors will feel comfortable enough to invest again.
So what exactly has changed in ICO marketing? First, the capital required to have even small fundraising has increased. The crypto whales are not as generous with their crypto nor do they have as much as they had in the previous years. Second, founders now are increasingly bringing back old approaches to the ICO market like convincing Wall Street that they have a viable business in need of funding.
These new developments, as a result, are shaping the way we market ICOs in 2019. Indeed, the ICO marketing strategy of 2019 is having a 180-degree twist and requires a thorough re-evaluation of your marketing plans.
ICO Marketing Strategies
The days of drafting a WhitePaper and a one-page to describe your project’s goals are coming to an end. Retail investors are getting smarter while VC funds stick to the tools that work. That is why a growing number of ICO companies will have to provide details about the business in the form of a business plan to convince investors. Included in the business plan are the go-to market strategy, competition analysis as well as potential weaknesses and liabilities the company will likely face.
While technology is important, investors are also looking for infomation about your company, how it works and how it will establish itself in the market.
Many investors now require you to show your operating budget plan as part of your ICO marketing strategy. Can you go without a fail for a year developing and marketing your project? There were plenty of projects that failed because of the poor handling of funds.
For your marking strategy, learn to stick to the budget. Do not overpay for services that you do not need like an overpriced booth or an advisor who is only a face. If you do not have a marketing team find a boutique marketing agency that will help the company out partly in tokens and partly in fiat. Spend money on realistic things that can move the train forward. And be open to the investors on how you are going to spend their money.
Your ICO marketing strategy is not complete without a verifiable profile of the team members. Make sure you onboard individuals with strong professional presences on sites like LinkedIn, CrunchBase, Twitter, among others. If possible make it so that it would be very easy to check the history of each and every team member. Showcase the competencies and past achievements of all team members. Potential investors want to know about the team behind the project, what they are capable and what they have done so far.
ICO’s started with the support of community but somewhere around 2016, this community spirit was forgotten. 2019 is more about building a community/user base before any launching your ICO. The 2-week building of a community of 40k users that do not talk is slowly fading away and the market is quickly coming back to the basics.
Engage with followers online at channels like Telegram, Bitcointalk, Reddit, and Medium. In addition, network with influencers, organize talks on popular media and appear at any events and conferences you can find. That way you can build a buzz around your project and attract new investors. More importantly, hold on to the community you have built and never let go. A strong community is a driving force to successful ICO and also in the post-ICO. It will is also be your first and most loyal brand ambassadors.
As the industry matures brand marketing principals will start to play a more critical role. Think of Nike, Apple or Tesla all have a very strong brand marketing going behind their marketing strategy. Brand helps to build a strong community around the project helps to that fuel its success.
For ICOs, branding is the visual identity, the tone of voice and the emotionally charged representation of your business. It is what sets you apart from others. It is not an afterthought that can be created in the later years easily. Make sure you have the correct brand image right from the start when building a community. An effective ICO marketing strategy should not only attract tech geeks but also a general public to support your project.
PR is set to play an even bigger role within ICO marketing in 2019 than ever. Getting through the noise and having your project noticed early on is essential to achieving ICO success and building genuine engagements.
Social media is an effective ICO marketing strategy and expectations are high regarding social media as a marketing channel. An online social media presence is imperative to the success of your ICO. The company should have an active presence on sites like Twitter, Facebook, Reddit, Bitcointalk, Steemit, and others. Remember that social media is not just marketing your brand, but engaging with your community and publishing official announcements to generate more hype.
Roadshows are becoming essential as part of ICO marketing in 2019. They allow you to reach new partners and interact with your community. In addition, it helps you get much-needed exposure with the investors. Real-life encounters still play a crucial role when promoting your product, and for this reason, roadshows occupy their niche and remain a great way to promote your ICO. Furthermore, they allow you to get some valuable and immediate feedback, which otherwise you may never obtain using other channels. Thus a well-planned roadshow strategy is essential for ICO marketing.
Content is king. And it will stay so in 2019. The way you present your content in form of articles and social media posts, is still important. Content should be part of your ICO marketing plans as it is the best way to ensure direct communication with the community. Furthermore, it encourages engagement which leads to a stronger brand loyalty. At the same time, if done correctly it can generate new leads and sales and increase traffic.