As a new startup, you’ll always be on the need for financial support to undertake activities to expand your business. One of the best ways to gain finances is to offer Initial Coin Offering (ICO) or Security Token Offering (STO) through marketing and public relations. Of course, that’s much easier said than done. There are so many ways you can undertake public relations and marketing; you are at risk of marketing incorrectly or targeting the wrong people.
With that said, here are three tips to help you improve your chances of success with ICO or STO marketing and PR:
1. Target the Right People
While the cryptocurrency community is filled with all kinds of people, not everyone will be interested in what you do. Because of this, you must know who you’re targeting precisely to utilize the right marketing strategy that will grab the most amount of attention. Ask yourself two questions:
- Who am I targeting?
- Are they experts or beginners in blockchain?
By figuring out the level of expertise in blockchain and cryptocurrency of your target audience, you’ll be able to cater to your promotional strategy that interests them. Don’t think that your approach should be generalized either, as it will end up causing people to believe that your efforts weren’t meant for them. In other words, keep it specific to your audience.
2. Show that You’re Trustworthy
The world of ICO offerings is full of scammers trying to get people to invest in their “ventures,” only to steal that money and disappear. Because of this, companies with a genuine need for finances, such as yours, will struggle massively to gain the trust of investors to work with you. Only about eight percent of all blockchain projects maintain their success.
That said, ensure that you put effort into making yourself trustworthy. Integrate credit-building into your marketing and PR strategy. Build a community where you can grow your credibility and establish relationships between business and investors. That way, you will have a better chance of finding those willing to invest in your project.
3. Build a Strong Community
Unlike other public relations strategies in other fields or industries, blockchain PR strategies are much faster paced. That’s because most, if not all, your operations are done online, a fast-paced world in and of itself.
Articles, blogs, videos, and plenty of other online content quickly shape people’s opinions about certain things, including businesses. While you might not find them on typical social media platforms like Facebook or Instagram, you’ll find them on other crypto-oriented networks like Reddit, and Bitcointalk. With that said, focus your community-building efforts in such networks to build your relationship and credibility with the right audience.
Be transparent about your operations and dealings. Regularly update them on your progress and plans, and always do your best to answer any questions asked that’s relevant to you. By doing all these, you show that you care for the community. In turn, you build a community that not only trusts you but is also willing to back you up when times are tougher.
For your marketing and PR strategy to be a success, keep these three in mind: target the right people, show that you’re trustworthy, and build a community that loves you. By doing this, not only are you ensuring that your current blockchain projects are a success, but that they’ll stick with you for the long-term, meaning that other plans are just as successful.
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