Launch a Successful ICO
January 12, 2023
Editor's note: This post was originally published on July 07, 2021 and has been revamped and updated for accuracy and comprehensivenes.
ICO or ‘Initial Coin Offering’ gives a fundraising opportunity to the startups that are developing blockchain & cryptocurrency-based businesses. In the second quarter of 2018 alone, ICOs raised $9 billion which was equal to 56% of the US IPO market and 39% of US venture capital
Creating your token for an ICO launch is easy and can be done using Ethereum’s blockchain. However, due to the sheer number of ICOs being launched, the space is getting crowded and it becomes crucial for you to differentiate your blockchain project from others.
What’s the role of marketing for your ICO?
At the time of writing this article, there are more than 5000+ cryptocurrencies in existence. All of these currencies came into existence through an ICO.
But a study from Wharton showed, nearly half of all ICOs in 2017 and 2018 failed to raise any money at all and 76% did not even meet their minimum goal. Most of these ICOs die down in their initial steps because they fail to stand out and differentiate themselves from the crowd, and secure good funding.
Marketing strategies for your initial coin offering
Marketing is all about reaching out to customers; you can leverage the power of the internet and communities to reach your ideal audience.
Let’s dive into some of the strategies you can use to promote your ICO launch.
Create a compelling whitepaper
Whitepapers are the cornerstone of every successful ICO. Every investor who wants to invest in your ICO will want to have a look at your whitepaper.
A whitepaper is a document that contains all the necessary details about your project and its role is to convince potential investors why it's good for them to invest in your project.
Investors who are considering buying your token will want to see these items in your whitepaper:
- What is the problem and your solution?
- How are you planning to make your idea a reality?
- Information about the ecosystem you are developing.
- How are you planning to sell the token?
- How will you make the business sustainable?
- Core team members and whoever is involved with you in the project
If you need a hand building a whitepaper, look no further, we've create an ultimate whitepaper guide.
Design a user-friendly website
The design of your website will showcase your brand personality and differentiate you from the rest. The content on your website should be crisp and should contain information about your idea, a roadmap for the project, a team section, etc. with a clear CTA for visitors who are interested in investing in your ICO.
Optimise your site for SEO
You will also need to focus on making your website search engine friendly to increase the visibility on search engine results. Focus on keyword(s) that are related to your idea or industry, and use those in your content, URLs, images, etc.
Create airdrop Campaigns
Through airdrop campaigns, you can encourage users to learn about your idea and in return, you can giveaway tokens.
Airdrops can help you bring traffic to your website to drive awareness about your ICO launch or encourage users to join your community. You can run airdrop campaigns from your website and promote them using popular crypto websites like Coinmarketcap.
Build Your Community
Creating a devoted community around your business should be your long-term goal. A community can be the building block for your project, giving you opportunities and providing a stable foundation with followers already backing your idea.
Through communities, you can bring people from all over the world together to discuss your idea and drive awareness about your ICO launch.
Leverage existing communities
You can leverage existing blockchain and crypto communities on platforms like Telegram, Whatsapp, Discord, Slack, etc. Furthermore, you can also use these platforms to build your community.
Advertising, PR & Media Outreach
Online advertising is one of the best ways to quickly spread awareness about your blockchain project. However, most mainstream platforms like Twitter, Instagram, Facebook, etc. don't allow businesses to run paid promotions of their ICOs.
So if you decide to run paid ads to spread awareness about your ICO, pay close attention to your ad copy and ensure that it doesn’t violate any rules.
You can also promote yourself in crypto-centric telegram groups, subreddits, medium blogs, email lists creating a buzz around your project.
Guest blogs on popular crypto websites are another great way of promoting your ICO and getting SEO backlinks for your blockchain project.
Find influencers, go on podcasts and interviews
Influencers cultivate a strong meaningful relationship with their audience by providing meaningful content, and therefore, building trust. You can have an influencer market your ICO launch to reach a broader set of audiences.
You can also release podcast episodes, or go on podcasts and interviews done by other people in the crypto community to promote your ICO. This gives a face to your project, making your idea more accessible and building trust with potential investors.
ICOs are a great way for companies to raise money faster. But poorly marketed ICOs can fail to even take off. With the right set of strategies, you can launch your ICO successfully and build a sustainable blockchain business. This will also help you in the long term by creating an audience that is interested in your idea and can be your future customers.