Would it not be wonderful if there was a magic formula or strategy that would help you market your Initial Coin Offering and make it a huge success? Unfortunately, ICO marketing is not that simple.
While the specific features and strategies of your marketing plan will depend on the unique characteristics of your venture, there are some common mistakes that you should avoid if you want your ICO marketing strategy to succeed.
Inadequate Online Presence
This may sound like an extremely odd bit of advice but numerous ICOs have failed simply because they did not have a large enough or reliable enough online footprint. The essence of crypto currency lies in the decentralized nature of the Internet.
To think that people would not see the obvious connection between a weak online presence and a weak ICO response is staggering. However, such mistakes have occurred, and you should make sure your ICO is marketed strongly on the Internet in order to increase your chances of making it big in the world of cryptocurrencies.
Ignoring the Negatives
Despite the hype surrounding ICOs, it is a sad but unavoidable truth that just one out of every two ICOs reach their soft cap. This does not mean you should be completely negative or pessimistic about your marketing plan.
However, a plan that presumes that everything is hunky-dory with the market without considering the concerns of the investor is unlikely to succeed. Your ICO will gain if you take steps to highlight how your venture is unique and how your strategy differs from other failed ICOs.
Investors may appreciate your candor and may consider investing about the currency solely due to the fact that you were bold enough to address the negatives head-on.
A Uni-Channel or Bi-Channel Strategy
Social media, email marketing, professional networking groups, influencers,P2P communication platforms, paid ads, word-of-mouth, viral content— there are so many channels that you can rely on to spread word about your ICO.
Restricting yourself to just one or two channels would be a huge waste of opportunity. The cost of disseminating information over multiple channels is extremely low compared to the potential advantages involved.
In any case, such a mistake reflects poorly on your overall understanding of the immense potential of technological solutions. That you have a very restrictive and conservative communications strategy may end up sending a very negative message to investors.
So, just make sure you don’t commit the same mistakes that others have committed. Instead, learn from the mistakes of others to maximize your chances of a successful ICO deployment even in tough market conditions.