Tired of being left behind by the ICO promotion, many companies are now trying to hit the jackpot by creating their own ICO. However, they do not know how to promote it effectively and deliver value to their audience. Just like many other popular crypto investment platforms such as Ethereum and NEO, in this article we will look at how you should go about promoting your ICO.
There are three key points ICOs should focus on when promoting themselves:
1) Developing a value proposition that is valuable for your target audience
2) Build trust by showing transparency
3) Focus on what makes them different from other companies of a similar field and have a unique advantage.
The best explanation of ICO PROMOTION are:
1. Developing a value proposition that is valuable for your target audience
It can be difficult to define exactly what you want to sell, especially if you are still a start-up or if your product is in an early stage of development. A common mistake many new ICOs make is focusing too much on their product and not enough on the value they provide their customers.
• People do not buy products; they buy benefits they hope the product delivers.
People will only use your product if it solves a problem. If you can offer real benefits to your potential users, then there is a much higher chance that customers will like your ICO and invest in it.
• You should focus on developing your product, but always make sure that the value proposition you are pitching is beneficial for its target audience.
For example, in the case of The DAO hack, during the initial sale of tokens it was proposed that each participant would receive a 50% bonus on their initial investment amount. However if you were to go through with this bonus reward measure, you would be giving away a higher percentage of the tokens than what you already have.
2. Build trust by showing transparency
People are often wary of new investments and want to know that you are a genuine business and that your ICO is not a scam. Even if your business model is in the very early stages, if you can offer transparency about your company, then people will be more willing to trust you.
• Firstly as previously mentioned, it is important to think about who your target audience is. In this case, we are focusing on those looking for an investment opportunity and investing their money into an ICO. From their perspective, they might be worried because they do not know the product or service offered by the project so they might not have full confidence in its success.
However, there is a way to show investors that your ICO is genuine by utilizing transparency.
Transparency plays a key role in building trust and therefore provides a strong value proposition to those who wish to invest in your project. Guest posting sites are here.
There are two ways of showing transparency in this regard:
a. Show the progress of development at all times. More often than not, the blockchain space is still evolving and there will be a lot of changes taking place so it can be necessary to show progress on your website at all times. If you have been working on your product for quite some time now, then it would make sense to showcase these achievements on its website as well as social media pages.
b. Communicating with the community and transparency is especially important in doing this. There is a subreddit where you can interact with the community and answer questions that might arise. As your company grows you will probably want to start hiring more people, thus you will want to focus on building a team that can help further enhance the business, hence giving value to customers by delivering a better product.
3. Focus on what makes them different from other companies of a similar field and have a unique advantage
In order for an ICO to succeed, there should be something unique about it that sets it apart from the competition. This something does not have to be extremely complicated but more so simple than what other companies are offering in this space. Get to know more about the guest posting service.
In the case of The DAO hack, it was proposed that each investor would receive a 50% bonus on the initial investment amount. However, the problem with this rule was that it increased the value of tokens so much that it created a huge imbalance in the ecosystem.
There have been many instances where developers have tried to make ICOs on major platforms such as Ethereum and NEO, but they all failed because simply put they were offering too much value to their audience and thus did not realize any substantial investment gains.
4. How to make your ICO successful
The nature of ICOs means that it costs very little to implement a tokenized coin. However, there is a danger when doing so as the cost of implementing it without funding is essentially zero.
In regards to The DAO hack, the issue was that funds had not been invested in the necessary security mechanisms and therefore made it easier for hackers to attack the system.