Is It Worth Having a «Turn-Key» ICO?
Ask yourself the question: what is more popular today than kitties, what is blowing news portals with bright events and is considered the best way to collect investments? The correct answer is ICO.
You must have heard about this trend. Nevertheless, we will spare our time to unveil this concept or refresh your memory so that you can answer the question: is it worth having a “turn-key” ICO.
- What is ICO?
- Attracting investments through ICO
- Stages of ICO creation
- ICO marketing
- Why do I need an initial consultation?
- ICO market analysis
- Strategic stage: development of the ICO plan
- How to conduct an ICO for your project?
- Creation of a project brand to launch an ICO
- Audit of ICO projects by market leaders
- Preparation of projects for the ICO
- Technical support of ICO projects
- Launching an ICO of the project
- ICO consulting
- What affects the cost of ICO?
- Cases of successful ICOs
- Advertising in ICO catalogs
- Development of bounty
- How long does it take to raise funds for the ICO project and preparation?
- Facebook advertising of an ICO
In fact, ICO is an abbreviation, which stands for Initial Coin Offering, meaning the primary release of digital coins. This is an improved analogue of the traditional type of investment – IPO (Initial Public Offering). ICO differs from IPO in that it implies the release of its own unique (or not) tokens and their subsequent placement on cryptocurrency exchanges. IPO is the initial public offering of the company shares on exchanges in the traditional economy.
Startups collect investments through tokens. Enough of the terminology, let’s move on to the main point. After a rapid and powerful entrance of cryptocurrency and blockchain in the financial industry, an effective tool with an unlimited number of opportunities – ICO – was formed. With its help, an unlimited number of resources are attracted, which makes it possible to bring the project into life in a short period of time. Moreover, ICO provides advantages not only to projects, but also to investors. They can also quickly make a big profit, provided that the project is not a scam (a project that does not fulfill its obligations).
ICO is enjoyed by wide popularity, since its cost is 10 times lower than the cost of traditional investment attraction. The savings are due to the blockchain technology, which underlies cryptocurrency.
The ICO abbreviation is so deeply involved with funding that it seems like it will not be forgotten. Despite this, many people can not even explain what ICO is like. To begin with, it should be noted that investors are buying tokens to invest in the project. Now we want to mention the fact that an ICO consists of stages, namely:
- Presale is a closed stage of the token sale, during which the following is usually done:
- the technical part is developed;
- a Whitepaper and a roadmap are compiled;
- a plan for token emission is prepared;
- a legal framework is developed;
- searching for partners;
- Pre-Sale – the stage of token sale at a discount price;
- The main stage of ICO is a full-fledged sale of tokens, which a significant amount of funds are allocated for.
Remember one simple truth: ICO startups and projects have the right to exist only with competent marketing. Whatever the unique, interesting and useful idea of a project or startup might be, it is doomed if it is not properly discerned, presented and investors are not attracted, that is what marketing tools are aimed at.
Many people hear from friends, acquaintances, colleagues, neighbors and others that blockchain is the leading technology that will change the world, and cryptocurrency will soon be at the heart of the traditional economy or will be used as an alternative currency and imagine how to get rich by introducing two of these trends into their project. However, it often turns out that the main concept of the project does not need blockchain or emission of digital coins. After this, the wallet is empty, as money was wasted in vain. To avoid this, an initial consultation is necessary.
A common situation is when surfing the Internet, reading articles, people begin to read publications with the key-word in the title “Secret ways to conduct a successful ICO” and make a fatal error, thinking that they will cope on their own. You need to understand, no one will just talk about the secrets of success openly. It’s a pity that very few people understand this, while the majority gives greed the opportunity to bury even the most unique idea at the preparatory stage. And here comes the question: what does it take for an idea to come alive? Answer: ask professionals for consultations.
The initial consultation when organizing an ICO can save a lot of time, money and nerves.
Before you start preparing for the ICO, you should conduct a market analysis to understand how the product offered by the project is relevant at the moment and whether it will be in demand in the future. Due to the fact that today the crypto market is characterized by an unstable state, many believe that the era of investing in ICO has already passed. However, this is not the case! Experts note that a large number of promising projects will be launched in 2018, which will be of great value in solving global problems.
So, after the initial consultation, finally making sure that the project is suitable for the ICO format of raising funds, studying all the subtleties and nuances, realizing that not everything is as easy as the marketing gurus describe in blogs, and the secret ways are non-working, it is worth starting to develop an ICO plan or an ICO marketing strategy. This stage, as well as the subsequent ones, must be carried out by experts!
No plane will fly, no ship will sail and no car will go without a planned route. This concerns the promotion of the project as well. Before the formation of the plan, the strengths and weaknesses of the project are discussed, the niche and competitors are studied, it is taken into account, what is ready and what should be achieved in the long run. After this, the main process begins – the development of a strategy that consists of:
- the work plan for the entire period – before, during and after the ICO;
- media plan;
- bounty campaign and airdrop;
- marketing plan, which is created monthly.
The listed items are basic, but they can be complemented by others and be differently named. Most importantly, these items consist of many other sub-items. Individual approach is very important.
It takes at least a week to develop a marketing strategy, provided that a specialized team will work.
This question takes us back to points 2 and 3. If it is difficult for you to do this for some reason, then we will remind you again: without the appropriate level of knowledge and luggage of experience, as well as a team of professionals, it is pointless to start promoting an ICO project. It will be a hike into a dark forest without a flashlight and a soldering. Would you go far under such conditions? Of course, no. Therefore, do not waste your time, do not believe in amateurs and do not listen to savvy experts. Just contact the marketing agency, which specializes in ICO.
The project does not remain without attention in the realities of acute competition if it has a unique image and content that is created during the development of the strategy. The brand needs to be worked out so that it is individual, unique, has a clear differentiation along with competitors of its market segment.
The young market of cryptocurrencies appreciates the proper conduct of company presentations and rewards the work with investment financing. After all, half of the success in promoting ICO is the professional creation of a brand and the full-scale PR policy.
You need an audit for your ICO from the market leaders to identify problems and possible risks for the project, as well as to formulate recommendations for their quick solution.
Such an audit is necessary for the following:
- violation of deadlines – there is often a deviation from time, content or budget during the preparation, implementation and conduct of the ICO;
- the emergence of risks – eliminates the problems on the way to the successful implementation of the ICO;
- the need of a view from the side – a fresh look will not be superfluous for increasing the effectiveness of promotion.
The audit of ICO projects from market leaders consists of several parts, namely:
- analysis of initial data;
- holding public and private meetings;
- countdown and presentation.
ICO is usually divided into 3 consecutive stages:
- preparation of the project for ICO;
- the main stage of ICO.
However, in this paragraph we will talk about of the project preparation for the ICO.
A zero launch point is an idea that even a child needs to understand. This is necessary in order to raise interest and demand. The simpler, clearer and more accessible the information is, the higher the interest in the project will be. After the idea, attention should shift to developing the architecture and drawing up a business plan, which is provided in the ICO Whitepaper – the main document of the project.
The preparatory phase includes the recruitment of the development team and others for the implementation of the project. Our ADDivine marketing team is already fully established, so you do not need to hire translators, copywriters, designers and other professionals on a remote basis.
This support includes:
- site creation;
- development of security;
- smart contracts, namely their programming, testing and implementation;
- introduction of blockchain technology;
- creation of payment gateways;
- release of a token;
The launch of the project’s ICO requires constant and uninterrupted communication with each specialist. This is due to possible problems, for example, hacking the site, improper work of the investor’s office, problems with the wallet and others.
You need to create a massive hype around the project that goes to the ICO to attract the attention of investors. To do this, you should write bright posts in social networks and interest-raising articles on the blog.
Consulting is very important at all stages of the ICO. Qualified 24/7 support helps to quickly find inaccuracies in work and deviations from the plan, which is the cause of risks and problems. ICO consulting is not only a great detective, but also an excellent tool for solving the difficulties that have emerged.
The cost of preparing and implementing an ICO directly depends on the following:
- development of a MVP product, if you did not have it before the preparation;
- careful study of Whitepaper;
- PR coverage, number of placements and social channels;
- the popularity of advisors, developers and the composition of the team.
Defining the budget for the ICO, you should clearly understand that most of the money must be spent on marketing. The cost of an ICO varies from $100k to $500k.
How to determine that a marketing agency is likely to attract a large amount of investors or at least will spare no effort to do it? Every project or startup founder is asked a similar question. When choosing a team for ICO marketing, you should focus on the case of successful ICOs. This is a catalogue where marketing agencies place ICO projects successfully completed by them.
It is worth considering, the organization of ICOs is a young topic, so most companies that are engaged in its implementation are also young. This affects the number of successfully completed ICOs. However, this does not mean that the team is not professional or does not have the necessary knowledge.
Advertising in ICO catalogs will help to attract additional attention. It contains information about the project to attract potential investors. It is necessary to place objective data in such catalogs that will be understandable to a wide range of people, regardless of age, education and other things.
Many people may have already heard the saying that bounty is not always a coconut bar, but also a way to involve outside help in promoting the ICO. Bounty programs are perfect for both parties: for participants because they can earn cryptocurrency for performing easy tasks, and the project itself provides an additional and large-scale PR, which positively influences the popularization of the cryptocurrency and attracting investors.
A bounty program can consist of the following:
- posting articles on Bitcointalk and other thematic forums;
- translations of Whitepaper, articles, reviews etc. into foreign languages;
- creating a video about the project;
- creating design;
- developing the main product and additional functionality.
The amount of time it takes to prepare, implement and attract potential investors ranges from 3 to 6 months, provided that a large team of lawyers, advisers, developers, designers, analysts and other specialists is involved in the process.
Not so long ago, the cryptocurrency industry was shocked by the sad news that the social network Facebook will no longer host advertising related to the blockchain technology, cryptocurrencies and ICO. The innovation has provoked a number of obstacles for those working in the field of ICO, but not for long as there were ways to circumvent the ban. Therefore, Facebook still remains one of the best resources for launching ICO advertising.
On reading this article, you should have already found the answer to the question of whether it is worth having a “turn-key” ICO or not. ICO consists of many nuances and complex moments, as well as pitfalls that only professionals working in this field are able to detect and fix. Therefore, if you want to maximize the effectiveness of ICO marketing – conducting an turn-key ICO will be perfect for you. It will provide the necessary services for supporting ICO projects, investments in ICO projects, as well as assistance in the organization of an ICO.