IEO marketing – part 3/3
This is the third and final part of the IEO guide. It will continue by explaining what to look for when listing your IEO on the exchange.
Exchanges will not market your IEO
One of the main benefits of an IEO is that the exchange handles quite a few aspects of the token sale, like the KYC/AML requirements as well as payment processing. The exchanges also offer some marketing, but that is simply not enough to guarantee the success of the IEO. One thing that needs to be remembered is that you are not the top priority of any exchange. The chances are that, if an exchange is large enough, it has many IEOs running simultaneously. On top of that, they need to handle other aspects of their exchange and to market them.
The biggest marketer of your IEO should be none other than you and your team. No one knows your cryptocurrency project like you do, which means that you should play a big part in marketing your IEO. Whether that means having your internal marketing team or working closely with an expert crypto marketing company, all of the efforts made can only increase the chances of your IEO succeeding in reaching the goals set.
Make sure to prepare a budget for marketing. Professional marketing teams may charge you in the range of $50-100k per IEO. Most companies will expect to be paid up-front or in monthly payments. A promise of future profits no longer does the job well enough to secure an expert marketing team.
ICOs and STOs are not that much different from IEOs
There is no need to reinvent the wheel here! Much of what was true for marketing ICOs and STOs will also be true for IEOs.
You will need to be clear on whether your token is considered a utility or a security. Marketing should be done according to that.
You will have to contend with many advertising bans, such as Facebook advert bans and bans on other major networks.
You will need to create and engage with the crypto community, which means that your marketing team needs to be knowledgeable about cryptocurrency, the blockchain, and your project.
IEO marketing time-frame
Unlike ICOs which can run for multiple months, most IEOs only run for 1-2 months. This means that you have a much shorter time period of intensive marketing. You need to reach investors, provide them with all of the necessary information, and convince them to participate in your crowdsale in quite a short frame.
Take advantage of the hype
IEOs are a new fun thing in the cryptocurrency space, and everyone is talking about it right now. If you’re ready to launch your IEO, the worst thing you can do is wait. Don’t be afraid to ride the hype train. Try reaching out to cryptocurrency and financial news organizations with your personal insights on what it’s like to run an IEO, which may create even more traction. Look for interview opportunities that can bring exposure. Make sure to do anything and everything in your power to make sure that your voice is being heard. Your marketing plan should be much more aggressive than an ICO or STO marketing plan. The PR plan should be full of press releases, interviews, speaking engagements as well as any other ways of putting your face and name in front of potential investors.
The post-IEO phase
Just like with ICOs and STOs, the marketing should not stop after the crowdsale ends. If you are running multiple consecutive IEOs on different exchanges, you should consider diversifying your marketing. Investors that invested in your project on one exchange don’t want to be bombarded with requests to back you on some other exchange. On top of that, make sure to provide regular updates on development, new partnerships, and other major and minor milestones beyond the money you’re raising.
Hard work pays off
If you want your IEO to be successful, you’ll have to work hard. Preparation both in terms of the project development and marketing will differentiate you from the others. We’ll probably never see as big of hype around crowdfunding projects like the one we had in 2017. However, there are many opportunities for projects with a strong vision, a quality project, and a good marketing team.