9 Incredible tips to drive your ICO down the success lane
“Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative.” --- Nassim Taleb
Yes!! aptly said by Nassim Taleb that we are driving midst a Blockchain era or Bitcoin ofcourse! And with a believe that crypto is the next dynasty in the upfront of FinTech. The ICOs are painting the world digitally red in their own way. Playing with cryptocurrencies, which are unregulated & highly volatile, is something which the people find more interesting to invest on. The more is the hype and noise, more is the investment. ICOs have been progressing at an exponential pace since the dawn of 2017, with the trend dropping in the middle of the year. After the regulatory authorities became aware and intervened to set certain guidelines, the trend pitched up at a much higher rate in 2018 and is expected to quadruple this year.
Just like IPO’s, companies working over Blockchain and cryptocurrencies tend to raise capital for their projects via ICO initial Coin offering. This article outlines few very easy yet effective tips to drive your ICO down the success lane.
1. Why Blockchain?
Think about this again. Does your project really requires the power of Blockchain or it can suffice with normal database? If yes, then there is no point in jumping over this Blockchain bandwagon. Only if you are having an incredible idea or your project needs to get mingled with cryptocurrencies, go ahead else the weakness will be aptly sniffed by the serious investors!!.
2. Have a prototype ready
No matter how small is your project or how limited the scope is, make sure to have a prototype ready before launching the ICO. This is one of the major points in an investor’s checklist. Having a prototype handy that too working, will make the investors trust in you and will participate in your ICO overwhelmingly.
3. The regulations
The cryptocurrency market is becoming more and more regulated with countries coming up with their own regulatory guidelines for ICOs. The ICO Company should very carefully analyze and should fully comply with all the regulations mandatory for an ICO. Most of the countries have their own guidelines for declaring the token as security or utility.
4. Participate In the Cryptocurrency Community
Before and during your ICO launch, you should actively and rather proactively participate in the cryptocurrency communities. Give most of your time in building a trust and solid customer base over there. Investors keep a watch over these communities so as which ICOs are trending and which not. Answer even the weirdest question asked over the community.
5. Vivid roadmap and Whitepaper
Delivering whitepaper ahead of ICO launch proves to be an excellent way to make people visualize your ideas and get to know the exact working of the project. Clearly define each and every milestone in the roadmap. Give sufficient time to each and every milestone which seems genuine. Giving a too long or too short span between tow milestones may prove fatal!!
6. Know your audience
If you are planning to loop-in everyone in your project, you may end up in nothing. Yes!! You must carefully study the industry and focus on a specific group as your target audience. Say for example: small retailers, or medical industry etc. So be clear and focused over the audience you are targeting.
7. Digital marketing
Marketing and promotion are essentially keys to success. Without this, even the greatest of idea does not get full support from the community. The first step to marketing would be creating well driven and engaging content. Promote your ideas over social media websites and email marketing campaigns. Spare some part of ICO for bounty sales. Believe me!! It really works. Go for press releases and the best way to communicate with your customers will be starting your own blog.
8. Calculate your hard cap and soft cap
Your investors should be fully aware regarding your hard and soft cap. You can communicate on your whitepaper and website. Setting too high and too low hard cap, may raise eyebrows of many investors. So choose this figure very carefully and intelligently.
9. Pre sales and additional Bonuses
It’s always recommended to go for a Pre-Sales with a portion of your hard cap. Give the participants additional bonuses for participating and joining your before the main event. A 30% bonus is a fair option. This will attract the serious investors without a second thought .
So, this is it!! Simple No? Yes just follow these tips and take your ICO cruise perfectly over the waves of speculations. The process takes time as it isn’t a single day work. If your idea is genuine and not a quick cash-in one, it will definitely get grand success. Get good reviews in community and social media!! Rest is done automatically. All the Best!!!