How to Market an ICO
A 5-step action plan to launch your solution
Action 3: ICO social media marketing– 5 essential channels
A key action in marketing your ICO is to engage the crypto community on social media. Using blockchain technology to raise capital through an Initial Coin Offering (ICO) is, by definition cutting edge. Where will you find influencers and advocates for your ICO? Social media is where.
When you mention social media, most people think of LinkedIn, Facebook, Twitter. Although these channels are important to your marketing there are some more powerful channels out there.
This series of posts, How to Market an ICO: A 5 step action plan to launch your solution, describes a 5-step action plan to market your ICO. The third action is to engage and educate your audience through social media. This 3rd post explains how to use social media to market your ICO.
Action 3: ICO social media marketing – 5 essential channels
One of the biggest challenges ICO marketers face is educating potential investors. Blockchain and cryptocurrency aren’t the easiest concepts to grasp, so start-ups need to publish quality content and build relationships on social media.
Communication is key and social media is all about communication. When marketing your ICO you should consider at least the following five channels.
- Conventional social media.
Steemit is a “blockchain-based social media platform” (https://steemit.com/), based on the STEEM blockchain. The interface allows members to view blog posts and post their own. You use the wallet interface to manage your STEEM, SBD, STEEM POWER tokens.
Steemit rewards people for creating and publishing content on the platform, based on the number of votes and the amount of STEEM POWER available. The platform allows only high-quality content to get up-voted, makes it a valuable channel for finding and engaging an audience.
You may even be reading this post on Steemit! If not, you can check it out here(link).
Reddit, the self-proclaimed front page of the internet, is actually a large collection of forums, where people share news and content, or comment on other people’s posts.
Joining Reddit is free although you can purchase Reddit Gold, the site’s premium membership program for $4 a month or $30 a year. You must be a member to post content.
Once you’re on the site (https://www.reddit.com/), you can search for topics that interest you. The search will return a list of posts on the topic and will suggest subreddits of interest. You will find that Reddit is broken up into over a million communities known as “subreddits,” each covering a different topic. The name of a subreddit begins with /r/, which is part of the URLs that Reddit uses. /r/icocrypto, for example, is a subreddit with discussions and reviews related to ICOs, Crowdsales and Token sales, while /r/blockchains is a subreddit for people to discuss blockchain technology.
Quora is a question-and- answer online forum, edited and organized by its community of users. Your identity is based on your interests and your expertise. Readers can see what topics you are interested in, and what questions you are answering.
Since Quora does not allow company profiles, the power here is in your team. Have your SMEs on the site with robust profiles and active participation. Why is it worth your while to pursue a Quora following? Quora allows you to:
- Gain exposure to Quora’s millions of visitors worldwide.
- Demonstrate your expertise on your topic.
- Get insights from experts in your or any industry.
- Directly answer questions about your business, products, or services.
- Share content from other websites (including your own) in topic-focused boards on your profile.
According to their website (find it at https://telegram.org/), Telegram is “a cloud-based mobile and desktop messaging app with a focus on security and speed.” Developed to replace/disrupt WhatsApp, Telegram supports similar communication functions: text messaging, phone and video calling, sending photos. Telegram, however, takes building and connecting with a community a step further with Groups and Channels.
Telegram groups are a powerful tool for building communities for your ICO. Use groups to keep in touch with your community of potential investors. Use group messages to educate members, answer questions, and supply updates.
There are two group types in Telegram. Telegram Groups are democratic by design, meaning any one can invite new members and even change the group‘s name and photo. Membership in groups is limited to 200.
You could set up a Groups for the project team to keep in touch with trusted partners, advisors, and first adopters. However, for larger communities with more reach you want more administration. Supergroups are a special restricted mode developed by Telegram. Supergroups can have up to 100,000 members and they are optimized to host large online communities.
In Supergroups, only administrators can add new members or change the name and photo of the group. You can define admin privileges with precision – from deleting messages to appointing new administrators.
Channels are an excellent tool for broadcasting your ICO updates to large audiences. Channels can have an unlimited number of subscribers; they can be public with a permanent URL; and each post in a channel has its own view counter. The view counter includes views from forwarded copies of your messages in the total count. Another benefit is that new members can see the entire message history in a channel — all the way to day one.
You can copy links to individual messages inside a channel and send these links to propects outside of Telegram You can post them to other social networks where following the link opens your Telegram channel and highlights the message.
5. Conventional social media
LinkedIn is one of the most popular media platforms in the crypto community. Crypto and blockchain groups that have tens of thousands of members are full of knowledgeable and professional people. Check out groups like: Blockchain Events and Conferences, ICO Event Promotion, New ICO Launch and ICO Initial Coin Offering.
It’s free to join and building your professional network will benefit both you and the ICO project. All team members must have profiles that include their relevant experience.
Provide links to any posts on the company website and be sure to reply to comments or questions.
Although ICO advertising has been banned from Facebook, it is still possible to build a strong community through pages and groups. Remember that Facebook has over 2.2 Billion active users! When promoting your ICO, post news about your project every day. Post links back to your company blog and reply to all comments.
As with Facebook, Twitter has banned all the ads related to ICOs. This doesn’t mean it isn’t still a valuable marketing channel. It is a very popular social media platform. Crypto influencers and companies are using Twitter to enhance communication with their community. They use it to announce updates, Leverage Twitter by communicating with companies in your niche, retweet their tweets and interact with them.
An important action in ICO marketing is engaging and educating your community on social media. Set up accounts on all five channels and educate your team on how to interact with prospects.
- Conventional social media.
In the 4th post in the series, How to Market an ICO: A 5 step action plan to launch your solution, we’ll look at the potential for ICO calendars to ensure success in: Action 4: ICO calendars to ensure success.
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