In the crypto-currency sphere, and even more so in the ICO world, unfortunately a lot of unprofessional money driven amateurs and actual fraudsters have emerged. A lot of money is involved and you really got to know who to work with.
In addition to the actual scammers, it is easy to stumble upon people and companies that slightly embellish the reality to earn on you.
Fortunately or unfortunately since Upline is currently conducting an ICO we’re writing from experience.
From email base sellers to those who promise loads of social media likes and subscribers to advertising agencies to advisors — propositions and fields are very different, but the rules of communication to identify a real deal are the same.
We want to share our learned lessons on how to communicate with people who are trying to make more money than they have value to give.
So how to different them?
The first thing we realized is that it is impossible to distinguish a fraudster from a real deal offer at a glance.
We’re not going to talk about the obvious cases when the seller answers you unconfidently, can not give any specific answers and generally communicates weird.
The greatest danger are those who communicate like professionals.
For example, a couple of months ago we received a letter with the following content:
Hi, my name is Kevin.
I have database of [famous ICO / exchange] subscribers. It contains 200 000 e-mail addresses. The database is sorted and contains including ico enthusiasts: 2% with huge referral structure, 10% over 1ETH invested.
Perhaps, it will be interesting for you.
If you are interested in the base, the price is [x] ETH or equivalent in BTC.
Sounds great, doesn’t it?
So first thing you should do is asking about when the base was gathered and how much times it already was sold? Because:
- It can be really old. We don’t consider a base older then 6 months. First, many investors use different addresses for different ICOs, just in order to avoid spam. Secondly, in 6 months much could change — including interests. Simply put, the conversion rate of an old base is much lower than the conversion of a new one.
- Also, if base is already sold times multiple times, it means that contacts in this base already tired of similar spam. And they might have negative attitude to all new ICO announces through email or they have simply eliminated those emails from their inbox view altogether.
At this moment you should really look at how professionally and accurately the seller is willing to answer those questions. If everything feels OK, move forward.
Next things that WE DO recommend is testing. Ask seller for 5–10% of the base for free. And send all those people your marketing email that is short, but strong! Then check the results. How much clicks, purchases, email opens etc. This approach helps us to find new subscribers and investors without burning unnecessary money.
Of course, even if the initial results check out, the rest of the base could be worse. But it can also be even better. There is no guarantee and at the end you have to go with your gut. The guidelines above help to navigate through the absolute worst.
Do you have some additional good tips? Share them in the comments!
Lots of good deals to everyone,