ICO

Why a lack of creativity can lead your ICO to failure

Lack of creativity can lead to ICO failure
(C) iStock.com/RaStudio

It is without question that ICOs have proven to be a growing trend that has been present throughout 2017 and into 2018. As more and more ICOs make their way onto the market, some legitimate and some less so, not all ICOs are destined for success.

In fact, many projects fail within the early stages due to either poor management or no forward planning from those running the campaigns.

There are many ways that ICOs can undergo pitfalls which can in turn lead them to fail. As ICOs are not straightforward and with new ideas and concepts arising daily, it is important that for an ICO to succeed, it needs to be noticed and stand out for all the right reasons. This means that you need to have a variety of unique selling points and ensure it is creative.

However, ICOs don’t traditionally lean towards the creative side and therefore it is up to the owner of the project to utilise some tactics to get the campaign noticed to generate some buzz.

Introduce the team

Having an anonymous team, with no credibility, will not work for the ICO. There must be a credible work force fronting your project that people are able to trust. ICOs typically list team member, advisors and and partners in order to show that there is a team and well-respected industry experts supporting the project and to provide potential investors with a level of transparency.

It is also important to tell the story of the ICO and let the audience know what you aim to achieve and the company’s purpose. In doing so, people will feel more inclined to support the project as the audience will understand the mission behind it.

Thinking outside the box with your marketing

Having a creative content marketing strategy which is up to date and looks promising will enable you to bring the ICO to ‘life’. You should consider various tools like infographics, video content and images which are engaging and easy on the eye. Techniques such as videos can provide a quick and simple message explaining the project and let potential investors know what they can expect. There is also a potential to create a ‘go to’ blog – surrounding news around your ICO and the crypto community.

Online platforms such as social media and a company website can be used to keep the audience updated with the latest news about the project and spread the word about the ICO. Communicating its progress it vital to an ICO as it allows investors to be kept updated, and also give potential investors a central source of information when researching the company. In addition, these platforms allow direct engagement with audiences meaning that users are able to share content they have created to promote your ICO.

“build up strong relationships with your supporters”

Building a community

ICOs tend to have extremely strong and active communities supporting the project and having this community will not only overcome any fear or uncertainty that potential investors may have, but also allows you to build up strong relationships with your supporters.

There are many ways to build a community for your project. ICO events including crypto meet-ups, conferences and seminars have very recently become popular across the world and this is the perfect place to come face-to-face and build relationships with investors and build up a community for the project.

Community groups and forums can also be used as a means to connect people with your ICO, where supporters can ask questions and join in conversations with one another.

Creativity to drive success

It is clear that creativity and ICOs are needed to work in conjunction together and in turn help an ICO become successful. Not only is creativity of paramount importance but also providing high end content is also an integral part of any ICO marketing campaign.

With the growth of ICO’s continuing to be apparent, and January proving to be the most popular month to date for the incentive, reporting a total of $1.51 billion dollars raised, the ICO market is becoming more competitive than ever.

Companies looking to launch Initial Coin Offerings should therefore ensure that they consider the creative side of the project in order to encourage its success and make sure to keep a competitive edge over other projects.

 

Interested in hearing leading global brands discuss subjects like this in person? Find out more at the Blockchain Expo World Series, Global, Europe and North America.

 

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