It is only September but the year has truly been an outstanding, with the bulls just tearing through the crypto markets, pushing capitalisation to above $180 billion in August. Even the bears that have threatened after every all-time high have pawed meekly and briefly, giving way to the irresistible price push we’ve been experiencing
The momentum has largely come from so-called initial coin offerings (ICOs). ICOs are the trendiest crowdfunding concept unique to the cryptocurrency and/or blockchain industry. Otherwise known as a “crowdsale”, ICOs are the choice vehicle for funding a new project or idea, or to expand an existing service or product.
2017 has been filled with examples of new projects that have raised incredible amounts of money through ICOs, with more than $1billion raised in June and July alone. The BRAVE ICO pulled in $35 million in only half a minute, while Bancor raked in $144 million in less than three hours.
Tired of standing on the sidelines with your idea or project? Want to get in some of that ICO action as well? It’s not as easy as it looks. While a unique idea or a great project are going to help you attract funding, it’s important to note that the most successful ICOs had a few things in common: great marketing and promotion tools.
Surprised? You shouldn’t be! After all, if no one knows about your idea or even has heard about your ICO, how are you going to expect it to get funded? Besides, now that there are so many ICOs out there, you have to do more to stand out.
Here’s a brief look at the critical tools that together help form the secret recipe of successful ICOS.
Great Bounty Management
Aside from more conventional marketing and promotion campaigns online, ICOs have found great success from paying actual individuals from various online communities and social media to update, promote and comment on their projects.
From tweets on Twitter to post or likes on Facebook, to blogging content into translated local languages, people are paid “bounties” to actively spread the word. The Bitcointalk forum is another popular place for promotion, where forum users are paid to rent out their signature spaces, carrying the ICO’s message with every post and getting paid for it.
But the task of managing hundreds, if not thousands, of users and verifying, validating and paying them can be quite complex. This is where ICOs hire campaign managers, people who specialise in doing all this work on behalf of the project.
Wide coverage in crypto and blockchain press and news/media outlets
In today’s modern crypto and blockchain industry, there can’t be too much information to keep track of. Dozens of crypto news websites push out alerts and notifications to readers regarding the latest projects and ICOs. Publishing your content on these news sites help bolster interest in your project and attract potential investors from crypto enthusiasts with coin to spend.
Some of the oldest and most reputable news and media sites include The Merkle, Bitcoinist, Bitcoin.com, Coindesk and Coin Telegraph. Most of these will also allow you to purchase paid press releases – where you submit a generic press release detailing your ICO and they publish it after editing with a fee.
There are many other media sites you can explore, from community-contributed crypto news sites like Crypto-News to more independently run portals with smaller teams like 99bitcoins and Brave New Coin. These will appeal to specialist and newbie investors alike.
Finally, there are also traditional financial and economic news portals that are more and more keen to feature crypto-related articles. This will allow access to more traditional investors with a lot of wealth. Some ICOs have attracted a lot of attention from business people typically investing in stocks and foreign exchange. Like others, you can arrange for paid press releases with the likes of Forbes, Yahoo, IB Times, Finance Magnates and Econotimes.
To get best results, you should select a few from each category to reach the widest audience possible. Prefer to have an expert do it for you? Check out the news and press release services offered at Bounty Portals!
Regular social media promotion and search engine prominence
There’s nothing like a good old traditional search engine optimisation (SEO) campaign to help boost your page rankings on search engines like Google and Yahoo. Smart projects take advantage of additional blog posts and newsletter subscriptions to talk up their ICOs.
Apart from the bounty campaigns commonly found on Twitter and Facebook, remember that there are so many other social media platforms out there, each with their own communities. Every mention of your project on Steemit, Quora and Reddit, for example, will help your ICO gain prominence when people search for relevant key words.
In summary, even the brightest ideas and the best professionals working together don’t guarantee you the funds you may need to kickstart your project if no one knows about it. To help ensure the success of your new project or ICO, the word must get out there and it must attract interest.