Product Marketing ManagerMOSS
Co-Founder & CEORetail CX Lab
Co-founder & PresidentMonart
The ICO era came and went without leaving much of a trace in its wake other than the reputation of a controversial crowdfunding scheme. However, the legacy it left behind is still alive and well, as thousands of projects in the decentralized market are still looking for external sources of funding that could be used to advance applications, services and products onto the broader market.
It did not take long for the market to become centralized around the major gateways linking it to the world of fiat – the lifeblood of the global economy. The exchanges became the main hubs of crypto activity and started taking on roles that had previously been undertaken by the projects themselves. The two major types of exchanges to have emerged are CEX and DEX platforms, with the latter playing host to IDOs, or initial DEX offerings.
The given crowdfunding scheme proved to be highly effective and attractive for both the projects and DEXs, considering the high volumes of turnover on decentralized exchanges and the willingness of their participants to experiment with new coins offered for sale. Though having many advantages, the IDO approach to crowdfunding is just as risky as any other, considering that no project can ever attain success if it does not take into consideration proper IDO marketing
IDO marketing is the promotion and advancement of a project that has decided to have its offering placed on a decentralized exchange. The approach to IDO marketing is not much different from the main concept of advancing crypto projects with the exception that focus will be placed on the prominence of the DEX playing host to the crowdfunding event.
IDO promotion requires the project advancing its product on the DEX to resort to either the DEX itself in search of marketing services, or turn to a specialized IDO marketing agency capable of supporting the advertising campaign. The latter approach is preferred, since agencies have the resources, expertise and necessary channels to reach target audiences.
The tools used for IDO marketing involve many of the same instruments as those used for promoting crypto projects and are adopted from classical marketing. Among the most popular and effective IDO marketing instruments are the following:
Combined, the instruments used for IDO marketing result in the attraction of user bases to the DEX hosting the IDO event and generate liquidity for the project conducting it.
The most effective IDO marketing strategies revolve around the creation of a positive image of the project and the promotion of its key selling points among potential users who would be willing to invest in it. The strategy that will be formulated by the IDO marketing agency always starts from proper analysis of the project and its key advantages in comparison with its competitors.
The first step of marketing strategy implementation is the development of a proper website for the project. The website may not be as important as the DEX presence of the project, but it will be the main traffic generator once potential users start gaining interest in the project. The website has to be informative and tailored for the perception of modern users towards projects in the domain. The main goal of the website has to be convincing users to carry out target actions, which should be highlighted clearly on the site, ushering users to the DEX and the IDO event page.
The steps that must run parallel in the second stage of the marketing campaign involve the generation of the backbone of the project – the community. As the users and liquidity providers of the IDO, the users need to be engaged in the project. The ways of ensuring such vesting involve airdrops, constant maintenance of communication with users through chats and forums, launches of contests and events, and many others. The essence of these activities is to create a sense of development and ongoing activity to instill confidence in the project’s long-term existence.
Once the IDO ads have fulfilled their purpose of generating liquidity for the project, the stage of project maintenance must take on. The agency that conducted the marketing campaign can and should maintain interest in the project through social media networks, forums and other channels that ensure communication with the community.
Having solid PR for IDO project campaigns is essential for their success. That is why projects must select a reliable and reputable agency capable of supporting their endeavor. An example of a reputable agency with years of experience and numerous testimonials to back its reputation is Flexe.io, which offers a host of over 30 IDO marketing services at affordable prices.
When choosing an agency to run their campaigns, projects must always check the expertise, use cases, proven testimonials and range of services offered to select the contractor that would best suit their needs.