ICO - Term Definition And an Introduction
ICO is the abbreviation for Initial Coin Offering.
ICO or Initial Coin Offering could be simply defined as a way of crowdfunding for any cryptocurrency projects.
The creators of the project sell ICO Tokens to investors in exchange for money to fund their crypto related projects.
The profit for the investors will be when the value of the ICO tokens they have bought.
This is almost the same as IPO or Initial Public Offering where the public or investors buy the company shares.
It is estimated by various reliable sources that in the year 2017 over 5.6 billion dollars was collected from various ICO projects. And this amount was raised from about 430 successful cryptocurrency ventures.
As there are always two sides for a coin, there has also been a downside too. The number of unsuccessful ICOs was very much higher than expected with only about 48% of the ICOs managing to reach their soft cap.
It is estimated that today there are over 1500 cryptocurrencies in existence and list is still being added up every day!
There are certain criteria to follow for a cryptocurrency to be successful There is need to have some effective ICO marketing strategy and thus enable it to reach its target audience.
Let's check what are they below!
How To Market Your ICO Successfully
#1. Build a great website
A perfect website always stands out in promoting your cryptocurrency. It forms a strong foundation for your ICO marketing strategy. So even before the launch of your ICO, make sure that the website that you build is user- friendly, highly responsive and should look definitely attractive.
#2. Reach out to the Cryptocurrency Community
Social media is a very powerful tool for the success of an ICO marketing campaign. Your ICO success depends very much on how you communicate with your target audience.
The various social media platforms available nowadays like Facebook, Google +, Instagram, VK, Tumblr etc. helps to promote your ICO project to the core and thus builds trust among the community and opens up your way to the potential investors.
Why Specialized Forums?
Never miss out to reach on to the specialized forums!
Marketing on such sites improves your chance to reach the best audience that you always dream of.
Most investors and cryptocurrency enthusiasts visit such forums frequently so as to learn more about cryptocurrency and the available opportunities.
#3. ICO Listings
There are a number of top-tier sites that list ICOs. Make sure that your ICO is listed in such websites which would definitely provide a higher coverage to your ICO.
Some of such sites mostly provide placement without charging a single penny. However, if you want comprehensive coverage of your ICO then you can use the services of premium sites that charge accordingly.
#4. Data plays its part very much
Analytical Data and statistics are crucial components for getting the best investors in the market. The investors should feel or should get convinced that the money they are spending on a cryptocurrency project or IPO is worthy.
So it's always advisable to offer the data or statistics to the analyst of the investors so that you are giving them concrete proof that your business will excel!
Moreover, you’ll gain additional exposure simply by the fact that your company will be reported on regularly as long as you’re offering your data to reporters and analysts.
Conclusion - ICO Promotion Is Not a Cakewalk!
Executing a successful ICO is no easy task.
Successful promotion of your ICO requires a lot of preparation, dedication, hard work and coordination which makes sure that a newly formed entrepreneurship can secure as many investments as possible.
Cryptosoftwares are the early adopters of ICO Development Services that will help companies to launch their own ICO’s.
Try to research more on the topic and find time to talk with major cryptocurrency experts.
And then give it full throttle! Everything comes into place.