An IDO, or initial DEX offering, is the process of launching a cryptocurrency on a decentralized exchange. This launch marks the debut of the cryptocurrency on the public stage, raising funds and establishing an investor base.
While that may seem like a simile process, the reality is not easy at all. Most exchanges thoroughly research a business, with the goal of reducing the likelihood of scams. As a by-product of this, there are strict rules that must be followed at all times.
This article will focus on the moments after you are listed by 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 public relations and blockchain marketing strategy.
If you're still a bit confused with all the respective acronyms used in the crypto community, such as ICE, IDO, STO, and IEO, check out this helpful table produced by GuerrillaBuzz:
Now that we've cleared that up, let's take a look at how exactly you should market your IDO.
Big blockchain marketing can make or break an IDO project. Be sure to consider the following things before you begin:
- Planning and budgeting stages
- Using the correct crypto channels
- Content and marketing strategy
Let's analyze each of these aspects a little more.
Planning and budgeting
It will come as no surprise that running a blockchain marketing campaign costs money. You'll have to take into account agency fees, as well as things like pay-per-click marketing, influencer marketing, and social media marketing.
It is important to start your blockchain marketing strategy campaign by clearly defining two things:
- The duration of your campaign
- Your overall budget
First, the duration of the campaign. Most often, an ICO PR and marketing campaign will last around four months. However, with that said, companies that suddenly stop all marketing efforts after four months often throw up a lot of red flags for investors.
With this in mind, while four months is a good amount of time to run the main campaign, you should also consider extending this period for a few more months by running a secondary campaign.
If you wish, this secondary campaign can be smaller in scale and scope, as you will have already generated excitement in the first few months.
Once you have established the duration of your campaign, you can designate an amount for the budget. On average, IDO campaigns cost between 7,000 and 20,000 each month. That said, there have also been campaigns for a lot more or a little less.
Think of all the money you invest in these blockchain marketing campaigns as investments directly in your business. You will build your brand authority, increase traffic, and interact with the crypto community to enhance your credibility.
Use the correct channels
Blockchain marketing is not exactly the same as traditional forms of marketing. One of the key differences between these two ways is that blockchain marketing uses different channels than traditional marketing.
Due to the large number of cryptocurrency scams Over the years, it is much more difficult to advertise on some sites like Facebook. Instead, a cryptocurrency PR agency will use different channels, such as Reddit and Steemit.
These channels have a large chunk of cryptocurrency users, and other channels such as Discord and Telegraph also feature impressive community congregations.
Make sure that when launching an IDO project you use the correct social sites.
Content and marketing strategy
When launching an IDO project, one of the best things you can do to ensure its success is to increase your own authority through content production. A well-produced blog can drive the success of your IDO project up to 55%.
This is due to the fact that more people will come across your project by interacting with your blog content. Write about crypto currency news, project updates, and other useful information for the crypto community.
Final thoughts
Creating and launching an IDO is not an easy task. However, if you follow these tips, you will have a much better chance of being successful.
If you have excellent blockchain marketing, you will be able to drive engagement, increase the number of investors you accumulate, and establish yourself as a trusted source in the crypto community.
