An IDO, or Initial DEX offering, is the process of launching a cryptocurrency on a decentralized exchange. This launch marks the cryptocurrency’s debut on the public stage, gathering funding and establishing a base of investors.
While that may seem like a simile process, the reality is far from easy. The majority of exchanges research a company extensively, aiming to reduce the likelihood of scams. As a byproduct of this, there are strict rules that must be followed at all times.
This article will focus on the moments after you’ve been listed with a DEX provider. Instead of the basics of starting an IDO project, it focuses on how to make your IDO project as successful as possible by using blockchain PR and blockchain marketing strategy.
If you’re still a little fuzzy on all the respective acronyms used in the crypto community, like ICE, IDO, STO, and IEO, then check out this useful table produced by GuerrillaBuzz:
Now we’ve cleared that up, let’s take a look at how exactly you should market your IDO.
Great blockchain marketing can make or break an IDO project. Make sure you consider the following things before starting:
- Planning and Budgeting Stages
- Using the Correct Crypto Channels
- Content Strategy and Marketing
Let’s break down each of these aspects a little further.
Planning and budgeting
It’ll be no surprise that running a blockchain marketing campaign costs money. You’ll have to account for agency fees, as well as aspects like pay-per-click-marketing, influencer marketing, and social media marketing.
It’s important to start your blockchain marketing strategy campaign by clearly defining two things:
- The length of your campaign
- Your overall budget
First up, campaign length. Most frequently, an ICO PR and marketing campaign will last for around four months. However, that said, companies that suddenly stop all marketing efforts after four months often throw up a lot of red flags for investors.
This considered, while four months is a good amount of time to run the primary campaign, you should also consider extending this period for a few more months, running a secondary campaign.
If you’d like, this secondary campaign can be smaller in scale and scope as you will have already generated a buzz over the first few months.
Once you’ve established the length of your campaign, you’ll then be able to designate an amount to the budget. On average, IDO campaigns cost anywhere from 7k-20k each month. That said, there have equally been campaigns for much more or slightly less.
Think of all the money you invest into these blockchain marketing campaigns as investments directly back into your business. You’ll be building your brand authority, increasing traffic, and engaging with the crypto community to improve your credibility.
Use the right channels
Blockchain marketing is not exactly the same as traditional forms of marketing. One of the key differences between these two forms is that blockchain marketing utilizes different channels than traditional marketing.
Due to the large number of cryptocurrency scams over the years, it is much harder to advertise on some sites like Facebook. Instead, a cryptocurrency PR agency will utilize different channels, like Reddit and Steemit.
These channels have a large portion of cryptocurrency users, with other channels like discord and telegraph also boasting impressive congregations of the community.
Make sure that when launching an IDO project, you utilize the correct social sites.
Content strategy and marketing
When launching an IDO project, one of the best things you can do to ensure its success is to boost your own authority by producing content. A well-produced blog can boost your IDO project’s success by up to 55%.
This is due to the fact that more people will stumble across your project from engaging with your blog content. Write about currency cryptocurrency news, updates to your project, and other useful information for the cryptocurrency community.
Creating and launching an IDO is no easy task. However, by following these tips, you’ll have a much better chance of being successful.
If you have great blockchain marketing, you’ll be able to boost engagement, increase the number of investors you accrue, and establish yourself as a credible source in the crypto community.