By Laura K. Inamedinova
June 3rd, 2018

How to start ICO: basic steps of communication

How to start ICO: basic steps of communication – Future times

How to start ICO: basic steps of communication

By Laura K. Inamedinova
June 3rd, 2018

How to start ICO: basic steps of communication – Future times

Poor communication may become a reason of failure of ICO project. There are several golden rules you should know before you launch an ICO.

Cryptocurrencies are considered to be probably the most popular trend of financial technologies in recent years. Started as a subject, interesting to few enthusiasts, currently digital money is a massive thing, widely discussed in media and society. This shift encouraged the advent of ICO – Initial Coin Offering, a process which allows to attract investments to crypto projects and to develop them quite easily. However, we might notice that many of these initiatives have failed. Some of them were actually scams, what also contributed to the lack of trust regarding crypto investments. The trend of poor communication is also noticeable. Good news – the latter problem can be solved without serious difficulties. All what is needed when you launch an ICO – only to follow several golden rules…

Step 1 – Clarity, clarity, clarity. Make sure it is possible to express the idea of the project clearly as well as to answer all additional questions. Currently, cryptocurrencies and Blockchain involve many people who are coming from the background, not related to finance or technologies. It means that there is a large chance that things which may seem obvious to crypto enthusiast will be confusing to a complete beginner. Therefore, it is crucial to explain the conception in the least complicated manner. Do not worry if people interested in investment are asking for further details. A precise clarification of smallest things can not only help in wider understanding of potential investors, but also picture the project as a trustworthy deal, what is especially important given the mentioned fact that the industry of crypto seems to be fishy for many people. Also, do not forget to provide these details in white paper, but this topic will be discussed a bit later.

Step 2 – Meaning and purpose of ICO project. Even the best idea can become a huge failure if its communication is not effective. A few things have to be taken into account. First of all, focus on the overall meaning of this project. How is it going to affect both lives of people and industry? Is the idea innovative or a bit outdated (we have witnessed it happening with vehicles. Mainstream cars are less popular in recent years, as electronic alternatives are coming to the scene, attracting more attention of investors and businesses, therefore even businesses related to oil may experience a decrease and are not worth to be started). Finally, what is the exact target group of the project and how should it be approached? Such checklist may encourage to choose the best strategy of presentation which is beneficial in terms of successful communication. No problem if you are not sure, as most ICOs have advisors, related to business. These people have an enormous experience in various industries along with well-developed knowledge and can consult you regarding any potential trend.

Step 3 – Reputation and representation. These two are often underestimated despite all the seriousness they contain. We all have heard the story or two how someone did not get a job because of the content found in social media. In 2018, an ordinary website (especially used inappropriately) may reveal much more information than possible to see during any interview or meeting. Same rule applies for the communication of ICO: self-representation of team members must be spotless in order to achieve amazing results. Since not only separate people, but also overall project are presented, the presentation online can be divided into two major parts. The first is the management of personal social media. Avoid disrespectful or offensive discourse, as well as ambiguous posts and photos. Or at least do not display them publicly. What is more, visual communication is absolutely crucial in order to prove the name of reliable project. The design and structure of whitepaper, the content of website or the competence in social media networks should not be seen as tools for major players in businesses anymore. Even the smallest projects (and specifically the ones which promote new types of technologies) must have these features because of quite simple reasons – the use of Internet is wider than any time before and can be used as a respectable source of information. Sounds as an entirely understandable thing, but unfortunately not all people working with projects are able to perceive it fully.

All in all, it is not difficult to improve the communication of any ICO project. The method, which is definitely not a rocket science, can lead straight to success – the essential values should be focused on reliability, clarity and content.

Even if the task seems a bit complicated for a particular project, do not leave the issue of communication far away. Talk to professionals of this field, explain the vision and achieve wonderful results together.