Bright Bee has learned a lot over the past year as it has worked on many ICOs, which combined have raised many tens of millions of dollars. The question that many people have when they come to us is: How do we make our Initial Coin Offering a success?
It comes down to three main points:
1. An idea rooted in the community. With a community. True blockchain startups deeply care about their community. They want to make their mark on the world and they want to share their passion. This will shine through in the background of the founders and, crucially, the advisers. These people should be accessible, they should frequent the Telegram channels, go to conferences and be visible. Likewise, there needs to be a community around the ICO. Ten thousand is the minimum on your Telegram channel. Many ICOs run airdrops or bounty programmes to boost the Telegram following – sensible tactics in our view. But don’t overegg the Telegram pudding with too many freeloaders!
2. A vision and roadmap to 10x .. or 100x. We’ve seen some great ideas that haven’t succeeded in raising their soft cap and the main reason is potential investors don’t see the potential return. Look at it from the investor perspective, they are taking a VC (venture capitalist) view that 60-80% of their ICO investments will fail, 10-25% will make a small return and 5-20% will 10x or even 100x. The ICO investor is looking for the 100x exit so show them how your ICO will succeed. If you have some sort of working prototype, even better – you’ve put your money where you mouth is.
3. Marketing and PR. We may be biased on this one, but go to any conference and you’ll see that marketing and PR is high on most ICO’s agendas. There are so many ICOs trying to raise money, how do you get above the noise? It’s getting harder to reach your audience too – Facebook and Twitter have banned adverts, Google too. There’s so much to consider, it may be bewildering if you’re new to the space: Banner ads, ICO listings, sponsored newsletters, influencer relations (YouTubers, podcasts..), advertorial, editorial, content marketing, event sponsorship, speaking opportunities, community management, bounty programmes. Bright Bee covers all of this and more.
You’ll see from our website that our heritage is PR, and this is where we really make ICOs stand out. PR in blockchain is so much more than paying for some expensive advertorials in crypto publications and leaving it there. PR is strategy, content, messaging, profiling, interviews, press releases, campaigns. Not just targeting the crypto press but traditional press too. Luckily Bright Bee has an in-depth understanding of these two different areas of the media.
Get in touch and find out how Bright Bee can help your ICO: