On May 13, crypto exchange BitMEX published research on the initial coin offering (ICO) market in 2019. According to the research, in the first quarter of the year, the ICO market has dropped by 97% based on the amount of raised funds. In general, 2019 is a rough year for ICOs. People became skeptical of ICOs, and they started to turn to other fundraising methods such as initial exchange offerings (IEOs) and security token offerings (STOs).
However, if you want to conduct an ICO for your project, you should be aware of this: It’s no longer enough to have a white paper and website to raise millions with ICOs. You have to focus on other things as well, if you want to successfully fill your ICO. Here are some of them:
1. Build a fundraising strategy before you fill an ICO
Launching an ICO is easier said than done. So, before that you should think about a fundraising strategy. Ask yourself which investors you want to attract? What is your marketing plan? Is your budget large enough to cover all initial expenses? What are the project’s scope and goals? Once you have answers to these questions you can move forward.
2. Focus on growing your social media presence
Being active on big social networks such as Facebook, Twitter, Telegram, and Reddit is crucial if you want to spread the word about your ICO. That’s why you should focus on growing presence and engagement on social media. You can use different techniques to help you with that such as airdrop distribution, bounties, influencers, running a blog, etc.
3. Growth hack your community
Behind every successful project is a strong and engaged community. To growth hack your community you can use different strategies and techniques like:
- Airdrop distribution
- Bounties
- Referral contest
- Active social media presence
And the list goes on and on.
4. Work on SEO
People will hardly know about your project if they can’t find it on major search engines such as Google, Bing, and Yahoo. So, make sure your website is optimized for search engines by using relevant keywords and focus on getting organic traffic.
5. Hire excellent community managers
Keeping your project’s social media audience active and engaged can be time-consuming and challenging. That’s why you should consider hiring professionals. Community managers can develop long-lasting relationships with the community, spread brand awareness, and answer any questions from the members of the community. This can be helpful when you try to fill an ICO
6. Find the best blockchain developers
Now is the time to get technical. Here are some of the websites where you can start your search:
Just make sure to specify what type of developers you’re looking for. For example, if you’re building a blockchain from scratch you’ll need a full stack developer. If you want to build an application running on top of a blockchain (like Ethereum), you’ll need a Solidity developer, and so on.
7. Work with a marketing agency
Creating hype around your ICO isn’t easy. Spreading the word about your project and attracting investors can often seem daunting. To make this task easier we recommend you work with a marketing agency. The right marketing agency will conduct a result-driven marketing campaign for your project. In one of our blog posts, you can find a list of leading ICO marketing agencies, so you can check it out.
8. Cooperate with industry influencers
Influencer marketing is powerful, and you shouldn’t underestimate it. Influencers play a vital role in spreading the word about various rising industries such as ICOs. Usually, influencers are well known within the industry, they have a huge social media following, and they can put your project in front of thousands of eyes.
9. Don’t forget about PR and content strategy
PR and content can help you on every stage of your project, not only when you fill an ICO. For example:
- PR and content increase brand awareness
- They can make your project more understandable and appealing
- Also, it will have a positive effect on SEO
And much more.
A common mistake with press releases is that ICO’s have the attitude of: “sell, sell, SELL!”.
Create a story, explain your vision and educate people on which problem you’re solving. Nobody likes a pushy sales rep.
10. Get listed on the biggest crypto exchanges
Getting your ICO listed on a reputable exchange can mean the difference between success and failure. Why? Well, first, it means more potential buyers and investors. Second, it will have a positive effect on the token’s trading volume. And third, it will be great for the reputation of your ICO.
10.5 Wrap-up on how to fill an ICO
When you fill an ICO, be prepared to encounter numerous obstacles and difficulties. At one moment, it may seem that it is all too intimidating, but keep in mind that in the long-term it will pay out. And if you need help with any of the tasks listed above, feel free to contact us. We can help you out.
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