ICO Marketing is complex. There are countless pieces that need to be accounted for. It’s very easy to get lost in the mayhem of marketing an ICO but with the help of our blogs, you can (hopefully) make it through successfully.
Before launching your assault on the market there are a couple of things to consider:
- Who is your target audience?
- Where does your target audience spend their time online?
- How much noise is there in the market?
- How can you cut through this noise?
- What are the most cost-effective ways of getting in front of them?
- Do you need outside help?
- In this guide, we will break down each question point by point.
Who is your target audience?
In the cryptocurrency industry, we have the luxury of a pretty concentrated demographic. Over 85% of cryptocurrency enthusiasts are male and have a shared interest in technologies and investing. Beyond that, however, marketing your ICO will require approaching this homogeneous demographic with a bit more granularity.
To do this, take a close look at your ICO. What is the use case of your project? Who is going to benefit the most from its usage? With that information, you can get a more precise image of who you should spend your time going after.
Where does your target audience spend their time online?
There are a handful of websites that most people involved in cryptocurrency check frequently. Platforms like Reddit, BitcoinTalk, and Telegram are included on this list. Reddit is a fantastic place to find your reach your target audience thanks to its countless number of subreddits. Each subreddit focuses on a very specific interest, allowing you to find potential investors that share an interest that your ICO is addressing. Crypto news aggregators also tend to draw significant traffic, getting your content on these aggregators is a fantastic way to spread awareness quickly.
Note: we only specified “online” in this section. There are plenty of effective marketing methods that can be done in the physical realm but these options are typically less cost-effective and accessible. I personally believe that the most effective “in-person” marketing technique is trade shows and conventions.
How much noise is there in the market/platform?
The amount of noise in the market is directly correlated to the amount of effort you will need to exert to cut through to your audience. In general, the crypto market is extremely flooded with ads but each platform is different. In general, free options are much more noisy as anyone has access to them.
Getting through the noise requires careful planning. This brings us to the next point.
How can you cut through this noise?
When it comes to ensuring your message gets through to the right people there’s really two ways to go about this: paid and unpaid.
Paid options are much more time-effective. Social media giants like Facebook, Twitter, and Linkedin offer highly targeted campaigns. With these you can set the exact type of audience member you are looking for. When using these social media channels be sure to word your ad correctly as they have a tendency to reject most ICO promoting content.
For the budget-minded, unpaid promotion might be necessary. However, be prepared to spend a lot more time carefully creating your content as most of your audience is probably already inundated by ICO ads on a daily basis. Structure your content in a way that actually provides value and is not simply “Hey look at us!”. Some of the most effective places to promote your ICO for free are on Reddit and BitcoinTalk. If you’re not a native speaker of the language spoken by your audience make sure you hire someone who is. Improper grammar and formatting will kill your chances of getting any traffic on organic content.
What are the most cost-effective ways of getting in front of your audience?
This touches on our last point of paid vs unpaid options. Services like Reddit and Quora also offer nice native advertising techniques that are relatively cost-effective. The services allow you to pinpoint exactly who you think would invest in your ICO with parameters like age, gender, location, interests, etc.
Issuing press releases can also be cost-effective depending on the news outlet you utilize. It’s a good idea to evaluation each outlet’s press release publication price vs. traffic to make sure your budget is being spent efficiently. CoinScribble is the only free press release option to reach over 1 Million viewers per month.
Banner ads on cryptocurrency-related sites is also a good way to promote your ICO. Using a service like Token.Ad or CoinTraffic is a good way of automating the process so you don’t have to reach out to each outlet individually. Keep in mind that prices fluctuate significantly and, at this point, most people have ad-blockers installed.
Do you need outside help?
This largely depends on if you have a team member dedicated to marketing your ICO. If not, it might be wise to seek help from a reputable PR or marketing team that focuses on ICOs. Marketing an ICO is expensive from both a time and money standpoint. Working with an outside organization can alleviate some of the time requirements for your ICO, freeing you up to work on other important aspects of the fund raise.
Some of the top ICO marketing agencies include the following:
- Foxtail Marketing
ICO marketing is difficult and getting even more so as more projects join the industry. With careful consideration of all of the ICO promoting options and a sufficient time and monetary budget you can give your project a good chance at reaching its hard cap. Good luck with your ICO!