12 Common ICO Marketing Mistakes to Avoid at Any Cost

ICO Marketing is a gem if you are aware of these 12 points.

An initial Coin Offering is one of the best ways to enter into the crypto market. It is a fundraising platform like a crowdsourcing arena where the primary startups use to attract capital via digital coins like bitcoins or other altcoins. ICO is similar to stockholding but they have a utility service for the products or software services.

In short, they are not constant assets that can be traded in the stock market. Also, they are completely unregulated and not maintained by any exchanges. So, there is a vision on the trading and investing population about the fraudulent face of ICO’s. But one should remember that not all of the ICO’s are a fraud.

Ethereum, one of the popular cryptocurrencies started their journey as an ICO. Marketing in ICO’s involves certain procedures and if followed right, you can enthrall your ICO to greater heights. But to gain some knowledge in marketingICO’s, you, first of all, need to know about the mistakes that you are making in ICO marketing.

In this blog, let us know about the ICO Marketing mistakes to avoid at any cost to have a healthy digital trading market.

Some major ICO mistakes that you should avoid while starting the funding process:

Vision projection:

This is the reason why most of the ICO’s turn out to be fraudulent. They do not have a proper vision for their crowdfunding process. Another aspect is that they would not be explaining the intention of their startup in the whitepaper submitted on the behalf of the firm. This can be the reason why most of the ICO firms fail. Lack of exposure and credibility is one of the main factors in the success of any ICO. any company that catches the credibility and exposure of the traders have a successful crowdfund.

No proper roadmap:

Even if you have started your ICO platform with a clear vision in the whitepaper, your traders will have a suspicion if you do not have a proper roadmap on how the project will continue after a certain amount of time. So drawing a clear picture of its growth projection for a particular product is more important. Because it can provide trust and goodwill for the investors to invest in that particular ICO. So unless you are sure about the future roadmap projection, it is best not to invest in that ICO.

Lack of catchy promotion:

Promotion is the preamble of any product and it is not an exception in the Initial coin offering market also. And in such a sensational digital market, your promotion will play a crucial role in attracting the clients. So, you need to craft your promotion poster or video on the primary basis of attracting your target audience. While seeing your promotion video, they should gain trust in the ICO and invest in it. That much intent and strong contemplation a promotion piece should have to succeed in the ICO market.

Need for a perfect stronghold of advisors:

Every ICO project involves an obsessed team that works on the back end to crowdfund for the future of the project. Taking a glance at that backend advisors will give you an idea of whether to invest in that ICO or not. Surfing through their profiles and their social media handles will give you a clear picture of their dedication and desire in that particular ICO. Also, they should have a thorough knowledge of the ICO, cryptocurrency, and blockchain industry. A genuine ICO will follow strict guidelines right from releasing the whitepaper to implementing the trading pair for their ICO token. If you are suspicious in any one procedure, then you can stop investing in that ICO.

Having a less-innovative marketing plan:

Marketing an ICO is not a simple task. It needs multidimensional marketing plans and ideas to promote it to the best and make it more unique. So, if you are investing in an ICO listen keenly to the marketing strategies. You can know about their intention through the marketing areas they focus on. If they have various social handles and multiple mediums, then you will have assurance over their ICO token.

Lack of usage of adequate marketing tools:

ICO needs adequate marketing tools to target the right audience. Many legit ICO tokens fail due to the lack of the right audience for their tokens. For instance, if you want to sell your token, then you have to target the digital traders but not traders as a whole. This kind of filter using certain tools like data analytics and other such tools will help you to filter out the unnecessary crowd that the ICO is targeting.

Lack of determining the value of the token:

If you are a frim and you are about to initiate an ICO, you will need to have a staunch knowledge of the tokenization platform. Also, you will have to set a genuine price for your token. This will help you to sell your tokens more effectively comparing the rigorous marketing techniques. Apart from that, you should have a proper distribution strategy. This is where many ICO’s fail and get labeled as scams.

An ICO without a personal cap is a threat:

An ICO should have a cap in which it reaches the maximum crowdfunding limit. If the ICO token is without any limit for funding or without any limit in the whitepaper, then you should get aware to keep yourself away from the particular token investment.

An ICO without any hard cap:

If the ICO is without any hard cap, then that is also a threat warning. Any ICO token without a hard cap has greater chances of getting swindled and hence you should be aware of such ICO token investment.

Lack of proper marketing strategy for tokenization:

Tokenization needs a proper marketing strategy. It needs thorough analysis and to find a reasonable product specification to sell the token to attract the crypto funds. So, it is necessary for a genuine team to have a proper marketing strategy to promote their tokens in the crypto market.

Lack of listing of tokens:

If you are satisfied with the whitepaper and all the procedures of the ICO company, you will have to still care if they would list the particular ICO in the trading pair. If the particular ICO did not get listed then you cannot sell your ICO tokens that you have bought from them. So, it is a waste of cryptocurrency. Hence, be careful that the ICO is listed on the trading exchange platform.

Verification process:

This is the simplest error but can cause a huge threat to the investment. If you are investing in their token but they do not follow proper KYC verification, then there are chances that they might be a scam. So proper verification stage is more important when it comes to ICO investment.

Final words:

ICO tokens are the best resources to initiate your business in his current digital world. But due to some black dots on the walls, ICO gets a picture of a scam despite being legit. Not all ICO’s are scams. The above mentioned 12 points will define the common mistakes every trader or investor should be aware of to help themselves out from a scam. A professional ICO marketing agency is aware of these 12 points and helps you to create your ICO token to leverage your business.