Marketing For ICOs — The Basics
One of the services that Cryptomizers provides is maintaining all the marketing efforts for our clients. A lot of ICOs that have an amazing product lack the ability to spread their message. In this week’s How-To-ICO we’ll show you some insights in our approach. We’ll share three strategies that you could use for your marketing. We’ll explain the strategies , the advantages and the disadvantages. Feel free to share your strategy with the community in the comments!
Private ICO marketing
The first strategy is called private marketing. When you choose to implement a private marketing strategy you’ll solely focus on your existing network of investors. Big advancement: you won’t need to introduce yourself since the investors are already familiar with you as a person. The other major advancement compared to the other two options is the fact that you already know who your target audience is. You’ve probably gained some insights about your network along the way so you already know how to reach them. The downside of private marketing is the limited number of investors. Your current network won’t expand if you don’t attract new investors. Furthermore it is likely that your network doesn’t like to be spammed by the same project over and over. In most of the cases this means that you can only pitch it once.
Investor ICO marketing
Secondly you could choose to implement investor marketing as a strategy for your ICO marketing. Investor marketing is based on private marketing but has the goal to add new investors to your project. It still means that you solely try to reach out to investors, but you’ll also attract investors outside your network. This results in a higher chance to find the right amount of the right people needed for your project to reach its goal. It does take a little more effort than private marketing does since you’ll have to specify your ideal customer in order to keep your targeting efficient. But once you’ll figure out the best formula it’s by far the most efficient strategy regarding ROI on short-term. The biggest disadvantage of investor and private marketing is the lack of community building.
ICO community building
Third on our list is the community building strategy. This strategy focusses on building a viable community around your product.. Having a dedicated community that supports your solution is more important in the long-term than attracting investors. Eventually you’ll always need some sort of a community that backs your products in order to have a viable product life cycle. Building a community from day one is the best way to get adopted within the masses. To reach this masses you’ll need to put in a lot of time, money and/or effort. Once you’ll pull this off, investors will come to you! This strategy comes at a high price since you’ll only earn ROI long-term. As long as you don’t have some back-up funds already your project probably won’t make it because of all the overhead costs.
Which strategy do you prefer? Would you rather focus on one strategy or maybe combine the best features of these three into a new optimized hybrid marketing strategy? Perhaps you’ve got a totally different approach to market your blockchain solution to the world. Let us know in the comments!
As always: have a Cryptastic Day
