You’re almost there. You came up with an idea, created a token, wrote a white paper and are now preparing for the Initial Coin Offering (ICO). The finish line on the road to launching your own cryptocurrency is finally in sight.
Now more than ever is the time to buckle down and button up. Don’t disregard the PR programme around your ICO as a necessary evil but give it the attention it deserves. This is one of the most powerful tools you have to get what you want: investor interest.
The following three tips will help you to make the most of your ICO campaign.
Do your homework
Before you even start thinking about the best PR strategies, make sure your efforts comply with current laws and regulations. In the light of ever new fraudulent ICOs, investors have become increasingly wary of ICOs – and so have financial watchdogs.
Headline-making exit scams like Pincoin or Benebit, which swindled millions from investors, have shaken the public confidence and are grist to the mill of regulators. The United States Securities and Exchange Commission (SEC), for example, started to crack down on ICO promotion practices by making securities laws applicable to cryptocurrencies. Even in the UK, a country without an explicit cryptocurrency legislation, the Financial Conduct Authority (FCA) has ramped up investigations into crypto companies by 74 percent last year.
So, be careful about how you promote your ICO. You want to earn trust and support from an audience that already tends to be highly suspicious when it comes to crypto assets.
Focus on content
Content creation is crucial in that regard. Some people might think that PR is all about landing placements in top-tier publications. But more often than not, media mentions are the result of thought-leadership articles, social media posts or press releases that were created not by a reporter, but by your own team. So get to it and start writing. Let people know what you’re about, why they should participate in your ICO and what you’re planning to do with the money you raised.
On that note, make sure your white paper and website are flawless, not only when it comes to typos and grammatical errors but also in terms of design. These are the flagships of your company, so you want to give as good a first impression as possible.
Pick the right platforms
Once you’ve got a pipeline of content ready, think about where to place it. ICO calendars that give an overview of ongoing and open ICOs draw attention to your launch, but don’t necessarily allow you to include background information on your project.
That’s where social networking sites and thematic discussion forums come in. The best way to spread the word about your ICO is by becoming an active member of the crypto community, as you have an engaged audience.
Here are just a few platforms you might want to take a look at.
- Bitcointalk: all things Bitcoin, mixed with a bit of blockchain and crypto.
- LinkedIn groups: try the Blockchain Cryptocurrency Investment Group (more than 3,000 members) or New Routes to Funding – ICOs, Crowdfunding and Beyond with about 45,000 followers.
- Telegram: ICOs and cryptocurrencies are also the topic of several discussion groups on Telegram. Have a look at ICO Speaks News (450,000 members) or ICO Listing (90,000 members).
- r/ethtrader: if your token is Ethereum-related, this one’s for you. Its more than 220,000 members make r/ethtrader one of the most popular crypto forums out there.
- i/icocrypto: focuses on ICO news and attracts a reasonably big community (72,000 members).
Keep in mind that getting knowledgeable about the regulatory situation, choosing the right platform and, above all, creating content are time-intensive processes. In fact, the preparation of announcements, articles, blog posts and images usually takes about eight to ten weeks. So don’t jump the gun. Plan your PR campaign well in advance and make sure it’s done properly. It will pay off.