We’ve seen how the ICO ecosystem has grown into a multi-billion dollar industry. The cryptographically generated tokens can represent almost anything for a business. The success stories have led to a huge number of players entering the ICO space. Needless to say, startups looking at fund raising through this means are increasingly facing stiff competition.
While we cannot say that it all boils down to an effective and different marketing campaign, we surely do agree that it is important to have a solid strategy there.
Engaging on Social Media
Social media has already changed the way businesses around the world interact with their customers, so it comes as no surprise that it is now a powerful weapon for ICOs as well. The first thing to consider here is knowing the target audience. There are two parts of the world; one that knows about (or rather is passionate about) cryptocurrencies and the other that is still clueless. But, both these groups use different social platforms. It is vital to create a marketing strategy that is understandable to both these segments. Make sure it is remarkable and let people know your backstory.
The Social Media Platforms
Dividing the target audience into two groups, let’s take a look at some popular channels.
For the Niche Target Audience
- Telegram: In the world of ICOs, a good number of subscribers on your TG platform is generally considered an indicator of the success or worthiness of the project. Interested users leave their e-mail addresses and sign-up for updates on the website. Users here have a good amount of knowledge about this industry.
- Reddit: The site is organized into thousands of ‘sub-reddits’, which are smaller message boards. Create a sub-reddit for your own token here. A company can also trade cash money with marketing firms on this platform to get their token sale promoted. These firms can prominently display positive responses, while negative comments are down voted. Remember not to go into mindless spamming and look for thematic communities.
- Forums: There are specialised forums like BitcoinTalk, where crypto enthusiasts from around the world talk about everything in the industry. There are hundreds of posts and thousands of links and chains. Practically every ICO has been run here. LinkedIn also has professional groups, where experts and important members of the community talk about new developments. You can ensure that your sale catches the eye of this audience.
For Those Who Are Unaware of Crypto
- Twitter: This is one of the biggest social networks, which has been leveraged by many ICOs. Around 330 million users access it monthly. In addition to a huge user base, the site provides excellent analytics, giving access to a good quantity of useful data for your ads and promotional tweets. The 140 characters per tweet are ideal to post quick updates. Many celebrities also promote upcoming launches on their own profiles, reaching a staggering user base. Twitter also has a thriving crypto community, such as ‘Crypto Twitter’, where users and experts advocate projects to followers. Twitter also claims to place your ads in feeds of target audiences. However, more Twitter’s stance on ICOs may be about to shift. They haven’t come out with a set policy but the word is they have shut down ICO accounts.
- Medium: Medium is a good platform to write about your upcoming ICO in detail. Unlike Twitter, there are no word count restrictions. Keep in mind, though, that both segments will read these articles. Keep the language simple.
The fact that Facebook will soon reach a user base of 2 billion dwarfs every other platform, but recent developments have forced the channel to ban ads pertaining to cryptocurrencies and ICOs. This holds true for Instagram as well, which is under the management of Facebook. But, the policy has been said to be temporary, which gives some hope for the future. What it does highlight is the importance of getting your organic content and social media spot on.