Google – how to launch an ico – and you will receive hundreds of results. This question is one of the most popular queries this month—despite not being the best year for cryptocurrencies—and there’s loads of information on successful methods for launching an ICO.
We already published an article on “How to Launch an ICO” almost a year ago, but a year has passed and we have improved and timely advice on how to approach this fundraising opportunity.
ICO Idea (Launch an ICO idea first).
Before going “ICO” see if a similar project has been launched. Start with R&D and find a similar project. We bet there are some—if not, you haven’t looked hard enough. What’s more, even if there are no projects like yours, that just means somebody tried and failed, and you don’t want to do that. Once you find a similar project you can spin your marketing campaign through association with it and comparison against it. Emphasize what you will do better and where your strengths are. Turn their lemons into your lemonade. Based on what we’ve seen, improved copycats do better than the original ideas. This year people do not want to take risks, they want to contribute to business models that have already worked and brought returns. I know that may sound disappointing to the innovative types, but it’s true.
ICO Execution Pan.
Create a reasonable timeline. We refer clients, who only have a few weeks to launch an ICO from start to finish, to our competitors, who charge 10BTC for basic services;-). Ideally two months should be allocated to ICO preparations. ICO marketing campaigns should start on day one to establish credibility by growing the domain’s DA, earning backlinks, and getting “As Seen On” articles. We have not seen a single ICO succeed without receiving some press coverage.
Invest Wisely in ICO Services.
There are trillions of ICO service providers that will spam you with offers, starting on the day you announce your fundraising intentions.
- ICO listing websites
- ICO marketing and PR service providers
- ICO Telegram and YouTube channels
- ICO magazines and blog
There is an unwritten rule—“Never provide information on incoming calls”—this can be applied here. If these companies are such superstar service providers then how come they came to you, and not the other way around. If they had that much traffic and generated that much buzz, you would definitely have heard about them from somewhere besides your email inbox. Check traffic stats by using either Similarweb or Semrush. You don’t have to be listed on every single website that claims to be a listing service and wants a BTC or ETH.
There is one more superstition in the crypto world. If you get on TokenMarket you have a 20% better chance of succeeding in your crowdsale than the competitor that is not on there. The reason for that is the credibility you earn among contributors because of the selective process used to make it to the list. Instead of sending money to all the “con servicers” out there, concentrate on getting on TokenMarket, It will pay off. We have methods for preparing a client’s ICO for TokenMarket submission, and this service is always free for our customers.
ICO Community Building and Social Media Management.
Even if you are in Forbes and Vitalik Buterin sent his blessing to your project, don’t ignore the community building. It is still one of the most powerful blocks and is the base for a successful funding campaign. Talk to your people through social media channels, do microblogging by telling them how hard you are working in order to bring the product to the market, introduce your team members—get real and get close to your audience. We are tired of repeating that almost 40% of your bounty marketing participants will end up buying your tokens, because after working on your ICO promotion, they end up believing in you and your team. Here is more on bounty marketing.
Paid Advertising on Social Media.
This is not something we advice doing. Google has been on and off banning and then partly reversing their decision on whether to allow crypto ads or not. Facebook does not allow crypto ads, though there are exceptions. Paid advertising has never had a good ROI in the ICO sphere.
ICO Whitepaper and Related Documentation.
Most of the whitepapers out there are insulting to the average intelligence. Yes it is not the business plan, but it still has to be kept to some standards and at least answer the following questions:
- Is it a utility or equity token?
- What is the blockchain utilization and the dependence on a blockchain infrastructure?
- What are the monetization scenarios?
- What is the competition analysis?
- What is the financial forecast?
- What are the ICO mechanics?
If you plan to work with accredited and/or institutional investors, it is a good idea to prepare high level prospectus and not overload potential investors with unnecessary information. We can provide good examples of what quality documents look like.
Roadshow ICO Marketing
Why does there seem to be a Crypto or Blockchain or Bitcoin event/meetup/conference almost every day in most of the big cities around the world, even though interest in crypto is declining? Take a look at who is paying:
- Startups and ICO starlets are paying to pitch;
- Speakers pay to speak – unlike guest speakers from other niches, who get at least travelling and accommodation expenses covered.
Crypto conferences in most cases are events where crypto pitchers who want to promote their ICO idea end up pitching to other ICO startups, and where ICO service providers end up selling to their competitors. So by going to most of the conferences you will pay entry fees to have a chance to pitch in front of the crowd that came in to pitch their own project to you. Sounds great from the perspective of event organizers. Before going to the conference try to ensure that there will be a target audience you are trying to reach.
ICO Legal Uncertainties.
Actually, we will need to stop calling them uncertainties. It is pretty clear now how every jurisdiction treats ICOs, which countries are more or less friendly to crypto innovation, and how the SEC and the IRS in the US view it all. We had a good piece about it in one of our previous articles that can be found here.
We would be happy to provide advice or referrals or help you launch a successful ICO. Here is the link to the services we provide.