Using Affiliate Marketing to promote your ICO
Affiliate Marketing for ICO Promotion
ICO or Initial Coin Offering is emerging as the method of choice for startups to raise funds for their projects on blockchain technology. This involves raising capital by selling their own token in exchange for — mainly — Bitcoin or Ethereum. Investors are getting attracted to ICOs primarily due to the reason that the rate of returns on ICO investments are much higher as can be seen with many success stories. However, the blockchain market is now starting to get crowded and ICOs need to stand out in the competitive space.
Although the success of your ICO depends on a number of factors such as the offering, the technology and the team, it largely boils down to how well you market your ICO to potential investors. While general advertising can produce good results, it can be an expensive strategy — one that directly affects the overall returns from the ICO.
So, what is the solution?
Marketing an ICO is a time and effort intensive activity. It is important to reach the right people with the right message. General marketing may end up wasting a lot of money without any guaranteed results. Affiliate Marketing presents itself as a viable alternative to promote an ICO. Affiliate Marketing is a marketing practice where affiliates earn money only for the sales or leads they generate. In this objective-oriented system, the advertiser ends up paying only for conversion and not for clicks or impressions.
Why Affiliate Marketing?
Affiliate Marketing offers a few unique benefits as opposed to other marketing methods:
- Cost per Action (CPA) model: Affiliate marketing runs on a CPA model where affiliates are paid a certain amount each time a desirable action is taken by an end-user. Whether your ICO conversion goal is a coin sale or filling a lead form, you pay only for each successful conversion
- Operational Synergies: If you have been reading up on ICOs, you are probably aware of ICO Bounties — a way to promote your ICO by paying people to generate interest and buzz about your ICO. Affiliate Marketing is similar with the only difference is that Affiliates are rewarded for actual sales or leads.
- Budget Efficiency: With the pay-for-performance at its core, Affiliate Marketing helps you plan your marketing and budget strategies. You can set budget limits by affiliate or by campaign and have a better control of your spend.
- Trackability and Attribution: In the fast-paced crypto world, it is important to track your campaigns in real-time and identify which affiliate is performing well for you. With attribution tools like Unliche, it’s easy to track the source of each conversion, understand which type of campaigns and affiliates are producing the best results and optimize campaigns to drive high-performance and control fraud.
As the market is flooding with ICOs, attracting the right investors towards your offering is of utmost importance. There are now many companies and platforms that offer affiliate marketing services specifically for the ICO segment. You can use the same or build your own affiliate marketing program. While some media companies are banning crypto marketing, affiliate marketing has emerged as one of the most effective and cost-beneficial marketing strategies for ICO.