Why Community Building Plays an Important Role in ICO marketing? |
Posted: May 13, 2019 |
In the past years, ICO has been rising at a fast pace. Initial Coin Offering is a blockchain powered decentralized process that refers to the process of raising funds for a cryptocurrency project. The process allows the selling some of the cryptocurrency to the investors. ICO ventures are growing very fast therefore new cryptocurrencies are being introduced to the crypto world every year. 2017 marked as a breakthrough year for the cryptocurrency and ICO projects. More startup companies and ventures are paying attention towards ICO projects in order to raise funds which are possible by trading the tokens for cryptocurrencies like Bitcoin, Ethereum, etc. However, before launching an ICO project it is very important to know and understand the things that can help you grab a better position in the market. ICO marketing services can help your ICO project in achieving the best results if done properly so make sure to do proper research before introducing an ICO project in the market. The success of an ICO project also depends upon a well-planned marketing strategy that can help the project reach out to a maximum number of people. At present there are around 1500 cryptocurrencies; more and more cryptocurrencies are emerging every year which creates a lot of competition in the crypto world. For an ICO project to be a success in the market community building is very crucial as it helps in promoting the ICO project, and allows it to reach to the target audience. The crypto world is growing and so should the community for better visibility. This is how community building can help your ICO project. Let’s discuss in detail here. Market Testing And Feedbacks For any product to be a success in the market it has to undergo market testing and the same goes for ICO projects as well. Having a community that supports and believes in your project is only going to be a benefit for the future of the project. You can engage with the community members and get honest feedback from them regarding your project and whitepaper as you engage with them on different platforms. You can use their reviews to make your project even better and make improvements for a more successful venture. By listening to the feedback of the community member it makes them feel more associated and at the same time provides the project better opportunities. In the past, most of the ICO projects have used the suggestions and feedback from their communities to identify and improve any problem in the structure or technology. For any ICO to work you definitely need to build a strategy for it and there is nothing better than your own community helping you with it. Keeping In Touch With Your Target Market By creating a community for your ICO project you can make sure that you have a target audience. You can tell these people about your ICO project and give them information about how the project would work. By letting your community know about your project you can make sure that they understand your project and work towards improving it. By understanding your project completely the community members can also help in bringing potential customers. Expanding The Pr The community members can play a very important role in spreading the PR. This particular ICO marketing strategy can help in promoting the ICO project. You can also publicize your ICO project by publishing articles, paid advertisements, and ICO marketing campaigns. But community members PR are a more strategic and at the same time a cost-effective approach of reaching out to people and publicizing your project. By building a bigger community for an ICO project the chances of success are relatively higher. It is because the size of the community can definitely tell a lot about the success of the ICO as the community and size are proportional to each other. In addition to this third party talking about an ICO project sounds more promising and trustworthy than someone talking about their own project. Moreover, by having a community that understands your project and endorses it simply makes it more trustworthy. As a result, it increases the chances of funds. So how can you build a community? What things you can do build community members for your ICO project? Let’s discuss in detail. Reaching out to the potential audience and getting attention from the target audience is one of the most crucial aspects of a successful ICO project. You can do this through: Social Media Platforms Social media is boon at least we can say that for ICO. Platforms like Facebook, Instagram, and Twitter are superb when it comes to promoting your project. These platforms allow you to build a community of followers organically provided your project is compelling. These platforms can be used to engage your audience, provide the relevant information from time to time and allow them to learn about your project. In addition, these platforms can also be used to answer their queries. Make sure to share informative content on platforms like Reddit and forums. It allows your followers to understand your project in a better way. To build a good social presence makes sure to be responsive to social media. Bounty Programs Bounty programs can be used to increase your following. Bounties are nothing but incentives in terms of tokens that you give to loyal customers who involve in bringing new members. It is a superb strategy that can help in expanding your community while at the same time increasing your reach. Make sure to respond to the most active members in the community. Visibility is an important criterion when we talk about community building as it helps in attracting bigger investors towards your ICO project. Chat Programs The chat programs are designed to allow you to communicate with your supporters. Your supporters can ask you questions and you can help them with answers. Telegram is one such program that is widely used by the crypto community. You can use such platforms to provide information about your project and also answer blockchain based questions. These platforms give you a medium for public discussions. Conclusion For an ICO or IEO project to succeed in building your followers is important so it is very crucial to identify your audience. You must engage with the community in order to understand their expectations and understanding of your ICO project. You can share valuable content, participate in online discussions, and understand what your audience expects from you. By building the confidence of the community you can not only improve the understanding of your ICO project but also improve your ICO marketing campaign.
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