So you have a fantastic new idea that utilizes the blockchain and is going to fill some niche in society that will have people praising your name and, most likely, throwing large sums of money at you. But, to begin making this idea a reality, you need startup capital that you just don’t have in your bank account.
You’ve tried all the traditional methods of raising money but have still come up short in your efforts. That’s when you realize that an Initial Coin Offering, or an ICO, will be just the thing to do the trick. You’ll mine some new coins, give them a fancy name tied to your product or service, and before you know it you’ll be up and running.
Well, it isn’t all that easy, because an ICO can only be successful if there is enough of an awareness of it to garner the attention of investors. And there are plenty of investors out there for alternative coins, many of whom make solid profits via trading programs in the mode of Ethereum Code. But they have to be properly notified about your coin’s existence before you can even begin to worry about them buying in. That means an ICO is as much about marketing as it is about technology. Here are some ways to effectively market your ICO.
1. Social Media
The people who are likely to even understand what an ICO is, let alone be interested in investing in one, are likely to be people who stay connected to all of the latest technological trends. And those people often stay connected by following them on social media. It’s important that your ICO endeavor builds a presence early on social media and maintains it via constant updating and posting. That will ensure some buzz for your ICO among the people who matter most.
2. Court the Media
This isn’t the traditional media we’re talking about here, although a newspaper profile certainly wouldn’t hurt. You need to find the people who speak directly to the audience you’re wishing to attract. And that means going to bloggers or websites who are involved in the intersection of technology and finance, explaining who you are and what you’re all about and seeing if they’re interested in talking about your new initiative.
3. Find the Right Endorsement
You’ll hear a lot of talks these days in the marketing world about influencers, people that are respected by a target audience and will compel that audience to buy any products they might themselves use. If you can find someone to talk up your ICO who has already had success within that world and has engendered a certain level of trust within that community, the boost in exposure that your ICO will receive will likely be both immediate and extremely valuable.
Once you’ve done the legwork to attract people to learn about your ICO, the rest will be up to the soundness of your idea. That’s half the battle, and if you don’t win it, you won’t even get to the other half.
4. ICO Listing
Attracting attention of the interested people is much easier on special websites.
There are many ICO listing websites available in the Internet. They provide the potential investor with detailed information about each ICO in user friendly format. Premium placement on such websites will attract more attention of visitors to your product.