How to Avoid An ICO Fail

If you think you can jump on the ICO bandwagon with a half-baked idea – think again! Ten of the most high-profile ICO scams swindled $687.4 million from investors and over 150 scams are listed on the popular website Deadcoins. So those interested in a project are much more likely to do their homework, and that means your ICO concept has to be stronger than ever. ICO projects typically solve real-life problems through technological strategy and intervention. But, even if your ICO has a backbone, it doesn’t mean you’re going to automatically secure all the investment you need. Indeed, 55% of projects failed to reach their investment targets in Q2 of 2018, so what’s the solution? Well, content is very much king when it comes to ICO marketing and can save you a fund-raising failure –so here are some useful tips on how to avoid an ICO Fail.

#1 Produce a Solid Whitepaper

ICOs have raised over $11 billion collectively throughout 2018 – and counting. The market is far from dead but it is becoming increasingly crammed which means there’s absolutely no room for a badly written whitepaper. In fact a bad whitepaper can equal an ICO fail.  Poor explanations and paragraphs littered with spelling and grammatical errors are a big no. Especially when investors are increasingly meticulous about where they invest their hard-earned cash.

So what should your whitepaper include?

  • The problem and the proposed technological solution
  • Project roadmap
  • Tokenomics and how this will effect token holders
  • Blockchain infrastructure and how this will impact the governance of the token
  • ICO team credentials including the qualifications of the technical crew
  • Risk factors and disclosures.

Top tip: Don’t put your whitepaper on the side lines. Spend time on it and ensure everything’s in place before even attempting to approach investors.

#2 Take a Look At Your Website

Don’t have a website? Then you might want to go back to the drawing board. ICOs are tech-dominated so not having a slick online presence could be an ICO fail. Investors want to know who you are and a well-presented and clear-to-read website will help put their minds at ease. Your website needs to be:

  • On-brand – all marketing messages must be consistent to avoid confusion
  • Eye-catching – think distinctive visuals, a catchy headline and a strong pitch
  • Engaging – show investors why your project is distinctive and how it could change lives
  • Enticing – include call-to-actions throughout
  • Clear and concise – explain the project in detail focussing on USPs and what buying tokens means for the investor
  • Focused – show that you have a plan for the project and how it will be executed

Top tip: Think about keyword relevancy and adapt your SEO strategy accordingly as this will help you to improve your organic search ranking.

#3 Boast Professional Video Content

According to reports, 79% of consumers prefer watching a video than reading text. An impressive 84% have also bought something after watching a video showing how important it is to get creative with content. Don’t just base your marketing strategy around the written word. Explainer videos are a great way to:

  • Increase brand awareness
  • Explain trickier concepts in a simple way
  • Put a face to your brand
  • Introduce key team members
  • Engage with people on social channels

Top tip: Create short, snackable videos for social channels which cater to the ever-shrinking attention span. The average consumer can concentrate for 8 seconds, so get straight to the point, and include the main marketing message as well as a call to action. If you’ve more to say – create a series, go live or pop a longer video on your homepage where people can go to ‘find out more’.

#4 Nail Your Press Coverage

As a legitimate ICO with a great idea, it’s essential to spread the word and fend off competition with clever press coverage. In order to do this correctly, you must know your target audience. Who are you talking to? Which online spaces are they likely to hang out in? And what messages are they going to respond to? Do your research and then tailor content to suit their needs.

Top tip: Don’t be afraid to shape your own online reputation with well-placed and well-written PRs. The right content can have a big impact on how people view your brand. So focus on producing clear and honest material that’s enticing, exciting and engaging.

#5 Grow Your Community

ICO success often relies on the dedication of global investors. That’s why it’s essential to develop and grow an online community. Once followers start to emerge, you need to feed their interest with engaging content about your project and maintain your online presence. Join sites like Telegram and Medium and produce content that’s going to spark interaction and engagement. Respond to people questioning your ICO and if needs be, tweak your strategy appropriately. Don’t forget, depending on your business model, there are also plenty of investment strategies such as bounty programs which offer incentives to those who help with or spread the word about your project.

Top tip: Keep your brand voice consistent as this will improve the credibility of your project.

Speak to the Contentworks team today about improving your content marketing efforts and reducing the risk of an ICO fail.