ICO or Initial Coin Offering is an excellent fundraising method for companies, as well as a high-return investment option for the participants. For a couple of years now stories of successful ICOs have filled the news. But there were also plenty of ICOs which flopped.
So, what does it take to launch a successful ICO? How to find good ICO tips and strategies that actually work? Well, you don’t need to worry any longer as you have come to the right place. Here we will be going through some of the best tips for launching a successful ICO. So without further ado, let’s get started:
1.Set Your Goals and Explain Them
Before you start worrying about launching an ICO, it is advised that you first concentrate on your project. Create a roadmap. Have a plan on how you wish to achieve your goals and how much funds you need to generate to achieve those goals. Once you have a clear roadmap, it is time to share it with your potential investors through your whitepaper. Explain what problem you are looking to solve, what is your solution, how you plan to execute the solution, and so on.
2.Engage With Potential Investors
Use bitcointalk.org to its fullest extent. You should already know that you need to set up an announcement thread on the forum informing your launch of a new cryptocurrency. However, simply announcing is not enough. Yes, you do have a well-documented whitepaper which answers all investors’ concerns. But do note, you biggest investor might not like reading, thus engage with the people on the forum. Answer their questions. Clear their doubts. This will help generate a sense of trust. The investors will know that you are available to answer their questions and that you are not only interested in getting their money.
3.Create Hype Surrounding Your ICO
Hype is an extremely important factor in determining the overall success of your ICO launch. In fact, the most popular reason for even good ICOs to fail is because of the lack of interest shown by people. You should consider marketing and create awareness surrounding your ICO. Talk about its benefits. Talk about how you plan to innovate and revolutionize your particular industry. Also, don’t forget to leverage social media and generate a large following. Develop a social presence in places like Facebook, Twitter, LinkedIn, among others. With more people talking about your ICO, you will have the benefit of social proof to target even more potential investors.
4.Hire a Strong Team
You are asking for funds, right? So utilize that fund to have the best possible people working behind your project. With qualified professionals, you are ensuring the end product to be of high quality as well as providing solace to the investors. Scan out professionals who are interested in ICOs and blockchain technology, and also individuals who are experienced in the work for your particular industry. Never forget that experience is a bankable asset! Also, don’t forget to include resumes of all your team members along with their social accounts and post them on the ‘Team Member’ page on your website. This will help investors to see what expertise is going behind the project.
5.Build Your Prototype Before Launching Your ICO
You have an idea, people like the idea, qualified people are working to realize that idea, however without a working prototype, serious investors will refrain from even spending a dime. Many people have many great ideas. Even the investors themselves have great ideas. Consider this; if hiring experienced people and having a plan was all it took, then the investors could have fulfilled their own personal fantasies as well. They realize there is a difference between an idea that seems plausible and an idea that can be manifested. And so, for many investors, seeing a prototype in works is the deciding factor on whether or not it is a good investment. If you have a working prototype at the time of your ICO, it gives you a head start over your competition.
In summary, these were our top tips to help you launch a successful ICO. We hope you found this read to be helpful. If you need any more assistance related to ICOs, then you can consider Kryptoia as your ICO consultant.
SOURCE:
https://hackernoon.com/top-8-tips-for-launching-a-successful-ico-15d0a4435a8 https://medium.com/@Hash_Rush/14-tips-for-planning-a-successful-ico-bfb0d433a6f0 https://blockchainreview.io/ico-preparation-checklist/