Initial Coin Offering (ICO) is a relatively new venture. It refers to the process of raising funds for a cryptocurrency project. This is similar to IPO where investors purchase shares for a company and it involves selling part of the cryptocurrency. ICO has seen a huge growth in recent years due to the rise in popularity of cryptocurrencies, especially the bitcoin. Today, there is a huge number of cryptocurrencies available and getting noticed amongst the competition requires having an effective marketing strategy. Social media offers a lot of interesting and cheap ways to promote your ICO venture, here are the best ways to use some of the most popular platforms.
Facebook is one of the biggest social media platforms available and is, therefore, a logical option for promoting your ICO. However, due to many scam projects that have been promoted in recent years, the platform has banned cryptocurrency related ads. While this places certain limitations on the way you can promote your ICO the platform still offers a lot of potential. While ads are not available you can still focus on building a community around your product and promote it with news and updates on the progress of your ICO venture. Facebook also offers a lot of options to interact with people who might share the same interests as you and who can help you out in getting started. And while you can’t advertise the ICO itself you can instead focus on the product that stands behind it.
Reddit is the world’s largest message board and as such offers a lot of options to interact with various crypto communities. The board is organized into smaller message boards called ‘subreddits’ which all focus on different topics. With the growing popularity of cryptocurrencies, there are seemingly endless subreddits devoted to this topic. Search out the ones that best fit your needs and use it to get in contact with like-minded individuals who can share their experience and ideas with you. You can also start your own subreddit that you can use to promote your ICO and interact with potential investors.
Twitter has a strong crypto community and is a popular option to promote your ICO. The platform also has some limitations when it comes to ICO advertising but because of the huge amount of users is still a great option to promote any kind of projects. The goal here is to stand out amongst the largest number of competitors who might promote similar ideas. This is not an easy task but the wards are well worth it. Stat following pages of the most influential people in the cryptocurrency community who share similar ideas and whenever possible write a comment on their posts. Make sure that your comments are informative and start discussions of their own. In time you will get a rising number of followers that will want to interact with you and share their ideas. This is a good way to get noticed by potential investors.
Instagram might seem like an unlikely platform for ICO but in recent years the rise in popularity has made it an attractive place for almost any kind of projects. One thing that this platform is very good at is brand building. Using Instagram together with social media analytics can help you keep track of how often your brand is mentioned and what people think about it. This way you can offer quick answers to anyone who has questions about your brand or is interested in investing in it.
YouTube is unique and very different from the ones mentioned before. While social media platforms like Instagram and Twitter focus on quick and flashy posts that are designed to intrigue and catch the attention of interested people, YouTube offers a way to attract people who have a longer attention span and are interested in having more information. People browsing YouTube are used to watching in-depth videos about topics that they are interested in. As such you can use YouTube as a platform to promote every detail of your ICO venture. Having weekly vlogs with progress reports is a good way to get people involved and attract potential investors.
Telegram is a new tool but because it doesn’t have a centralized authority it offers a lot of options for ICO related ads. As such it has quickly become one of the most powerful tools for ICO promotion. The hardest part is getting the initial few followers, but once you get to about 100 followers things become much easier. If you are going to use paid advertising on Telegram be sure to check for channels with bots before committing. Pay attention to the ERR index and other signs of junk audience.
The best way to promote ICO is to choose a combination of multiple marketing strategies and different social media platforms. Don’t commit to a single option but instead try to diversify in order to attack a bigger audience.