Digital marketing and PR are the underlying reason as to why most businesses around the world can grow and prosper. It’s true and when it comes to ICO’s and cryptocurrency projects, marketing strategy is even more important.
But why is it more important for this type of industry?
Well, as you know, these markets have expanded dramatically over the past two years and there are now thousands of projects in every direction. Needless to say, you need some way of gaining traction amidst this sea of projects and digital marketing is the only way to stand out.
In this article we will look at:
- What is cryptocurrency and ICO?
- Marketing strategies for ICOs and cryptocurrency
What is cryptocurrency and ICO?
In layman’s terms, cryptocurrency and ICO’s is not the same thing. While they are both relatively associated with monetary gain digitally. Cryptocurrency is a digital or virtual currency designed to work as a way of exchange, it not only secures and verifies transactions but it also controls the creation of new units of a particular cryptocurrency. ICOs, also known as Initial Coin Offerings, is a process of raising funds for a new cryptocurrency offering. It typically involves selling a new digital currency as a discount as a way for a company to raise money.
Marketing strategies for ICOs and cryptocurrency
The importance of marketing for cryptocurrency is as important as any other industry because online marketing is the synonym of growth for the online business world. In order to survive in the crypto-coin market, you need to create a unique and effective marketing strategy that will put you above the rest.
Here are some marketing strategies to look at while trying to build your strategy.
1. Creating the Website
If you want an idea of what a website should look like for an ICO or cryptocurrency project, check out one of the top fifty on CoinMarketCap.
Keep in mind, this is the very first place that most serious investors will start their research and without a professional website, you have nothing. After all, would you take a technology project serious if there was no website?
2. ABC – Always Be Collecting Emails
For many sales people, “Glengarry Glenross” is the quintessential sales movie and “always be closing” is the most famous phrase from that movie.
As for marketing, you should always be collecting emails and this should happen right from the beginning of an ICO or cryptocurrency project. You see, it takes a great deal of time to build up a subscriber list but as any professional marketer will tell you, email is still the most effective way to reach a target market.
3. Networking on Linkedin
Networking is crucial in any industry but for a little known project in an emerging market like blockchain, this is even more important. While you seek to establish relationships at every opportunity, Linkedin is probably the most effective method.
In fact, with useful tools like Linked Helper, team members in an ICO can automate the process of reach out to potential sponsors and influencers on Linkedin. Unlike Facebook and many more platforms, Linkedin users are very responsive to messages and open to cold messages or enquiries from people they do not know.
5. Social Media and Steemit
Needless to say, ICO’s and cryptocurrency projects need to be on social media for anyone to know about them. Facebook, Twitter and Instagram are a great place to start. However, it’s just as important to keep these channels up to date.
In other words, if visitors find a social media page without any posts or updates, it sends out all the wrong signals. Likewise, projects need to make sure that every question is answered and every comment is given an adequate response.
As for Steemit, this may not be the first place that comes to mind for marketers but the truth is, this fast growing social network is home to a huge cryptocurrency community.
It’s true that successful users get paid for posting on the platform but for a project, this is your opportunity to reach out and start building a following. Best of all, Steemit does not cost the project any money and contrary to what some believe, the platform is an intelligent community with some extremely high quality content.
6. Press Releases and Media Outreach with Journalists
It doesn’t matter who does or does not publish your press release, it’s essential to have one. That being said, there are now many cryptocurrency websites and agencies, which are constantly on the lookout for new projects to write about every day.
What’s more, these publishers usually have a very defined and specific audience, which directly matches the target market for ICO and crytpocurrency projects.
You can learn how to write a press release here.
As you know, last year was the year of tokens and airdrops were increasingly common as time went on. Simply put, for the “price” of issuing a number of free tokens to investors, the project has also increased the presence of this token in the real world.
Furthermore, airdrops are hugely popular with investors and a great way to get people interested in the project. Needless to say, the more free tokens you provide, the more chance that your community will grow from the beginning.
8. Facebook and Instagram Ads
As any marketer will tell you, Facebook and Instagram Ads are grossly undervalued. Of course, you can advertise on Google Ads or Youtube but the first of these is more expensive and the latter slightly less effective.
Paid marketing such as the above requires videos and banners to be created, which are then advertised to your chosen audience. And this is probably the best thing about Facebook and Instagram adverts – you can use the filters on these platforms to advertise directly to you target market.
Podcasts are increasingly popular for good reason. For the project, this is an opportunity to broadcast to a wider audience and educate listeners in terms of the features of the project.
That being said, audio content has gone from strength to strength in recent years, which makes this one of the most impactful ways of creating awareness about the project. As you may know, podcasts can also be re-purposed as blogs or articles which you can publish on the website for those who may not consume the audio.
If you perform a simple search on Google or YouTube, you should see that many influencers have a substantial number of followers. With this in mind, instead of trying to garner a fan base for your own channel, it can be far more worthwhile to capture the minds of an audience on an existing channel.
At the same time, this is not a process to rush and projects are more likely to be received well if they establish a relationship with the influencer before suggesting an interview. Either way, you should find that these are typically win-win situations with the influencer having something to talk about and the project gaining some valuable exposure.
Aside from the above, ICO’s and cryptocurrency projects should make every effort to keep up to date and maintain a presence in the community. Attend conferences, take phone calls, answer questions and make connections; there is never any one reason why a project succeeds, it’s the will to persevere that counts.
Pressfarm is a great and affordable tool that helps you contact various media outlets to write about your startup. Pressfarm has a database of over 50k journalists with all their contact information. There are a few packages to choose from depending on the type of services that you require; the Starter plan at $90 one-time charge, the Launch plan at $180 one-time charge, and the Campaign plan at $480 one-time charge. They are focused on creating awareness to your brand, building your credibility, and increasing your reach.
You can follow these links for more information…
Jamie knight started his career as a professor of Researcher and college, and quickly expanded his understanding of science and scientific discovery. He did this by writing News, Books,essays, and articles. They are contributing to the newsletter for Datasourcehub.com.