Launching a New Cryptocurrency? What You Need to Know
Since bitcoin was first introduced back in 2009, cryptocurrencies have become less niche and more mainstream. With ICOs increasing in number and blockchain technology advancing at a rapid rate it’s clear that the finance sector is going through a significant period of change – but is it easy to enter the Cryptocurrency, crypto space?
Here’s what you need to know when launching your own digital currency:
Get to the Point – Quickly
We live in a world run by tech-obsessed humans who are used to getting what they want almost instantly – particularly online. Attention spans have dropped significantly and with competitors biting at your heels, it’s essential to keep people interested. Always get to the point quickly and introduce your cryptocurrency in a way that’s innovative, engaging and interesting. You want people to be hitting that imaginary ‘like’ button in their heads whenever they read your content, so don’t be afraid to get creative.
Here are some useful tips:
- Use short, sharp sentences
- Bullet your unique selling points (USPs)
- Speak to your target audience
- Explain techy terms if necessary
- Be clear and consistent with your marketing messages
Nail Your Marketing Materials
There are two things that you’ll certainly need when launching a brand new cryptocurrency and promoting the ICO which you hope will fund your new business venture: a pitch deck and a well-written white paper – both of which are crucial to getting investors on-side.
A pitch deck is an important presentation usually created using PowerPoint or Keynote. It’s designed to give potential crypto investors an idea of what your token and business concept is all about and should focus on specific USPs and metrics. A good pitch deck will also highlight the credentials of management and explain how an investor can benefit. You should also present a problem and a solution to show why your crypto idea is necessary.
As investors are no longer dazzled by the fluff and are in search of real substance – you’ll need a well-written white paper; one that fully supports your marketing efforts.
A typical white paper usually includes the following sections:
- Executive summary – this lays out the problem you’re trying to solve
- Business introduction – complete with relevant metrics and statistics
- Solution and product – a detailed analysis of why you’re launching a cryptocurrency
- Token implementation – a rundown of what your token is, how it works, how many tokens you will issue and any fees/costs associated with issuing the currency
- Token deployment and roadmap – insight into how and when you’ll launch tokens
- Team – an introduction to influential people behind the token launch/ICO concept
Earn the Trust of your Target Audience
When it comes to digital trading, public ledgers, online communication and coins that aren’t tangible but exist only as a result of technology – people get fidgety. Even savvy investors need reassurance that your tokens have a purpose and are worth their time, so it’s important to earn the trust of your target audience. This doesn’t happen overnight and requires an exceptional marketing strategy that promotes your ideas in the best light.
To stand out from the crowd, it’s a good idea to humanise your brand. You can do this by:
- Introducing founders through live video streams
- Producing regular video blogs
- Hosting Q&A sessions on social media
- Posting regular updates on social media platforms
- Offering regular communication and answering queries
- Giving ‘behind the scenes’ information about your brand
To earn the trust of your target audience, ensure your marketing materials are on brand to avoid confusion. Be authoritative yet reassuring and don’t be afraid to showcase your wider industry knowledge through articles and blogs. Being a thought-leader in your industry can quickly lead to support for your crypto launch.
Promote your Cryptocurrency in the Right Social Spaces
Promoting your cryptocurrency/ICO through social media is a good idea – but what sites work best? Well, Facebook’s recent changes to the news feed algorithm means posts from businesses will be deprioritised in favour of posts by family and friends. Not only that but they’ve also banned all marketing content featuring buzzwords such as “crypto” and “ICO” – so where else can you focus your marketing efforts?
Well, you can use Twitter and link to external content so as to not take up the limited character count. Note thought that you will need to be clever here too as Twitter is also considering a ban on ICO advertising and possibly more. You may also choose to explore Telegram which has become a leading platform for companies looking to get the word out about their token raises. Don’t also forget to utilise sites like LinkedIn. Posting informative content to your personal account will help to raise your profile within the finance sector and generate buzz around your professional crypto ideas. Again, you can link to essential marketing material.
Get Well-Written PR in the Right Places
On a similar thread, you should also get well-written PR in the right places. All content needs to be factually correct, on-brand and tailored to your target audience. It must also be placed where investors can see it otherwise potentially impressive content will go unnoticed and this could be a costly mistake.
If you’re looking to launch a new cryptocurrency and need help implementing the correct content marketing strategy, speak to the Contentworks team today.
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