The success of your IDO greatly depends on the IDO marketing strategies that you use. It’s true – as of now, there are over 10,000 cryptocurrencies in circulation. On one hand, they present more opportunities for investors to tap into the crypto market. On the other hand, they open the market up to the kind of malicious actors that investors are increasingly getting worried about. The right kind of marketing can give your IDO the credibility it needs to earn trust among potential investors.
What’s an IDO in a nutshell?
An IDO or what you may know as Initial Dex Offerings is not just a modern fundraising model in the crypto space. In reality, it’s the most sought-after fundraising model. Unlike its counterparts, the ICOs, IEOs, and STOs, the IDO model offers more liquidity. As such, an entrepreneur can benefit more from using it than they would from other models.
Thanks to the IDO model, many people can redeem their starting investments while targeting new investors for their projects. This fundraising model is also cost-effective. In other words, you pay a smaller listing fee than you would with other models. Furthermore, you’ll be using a secure fundraising platform with rapid trading.
IDO mechanisms are based on a decentralized exchange which is pretty solid and secure. With an IDO, a crypto startup can mint its tokens and coins. Keep in mind that the simple act of listing an IDO does not guarantee sales.
However, strategies that build brand trust, detailed insight, and regular traction do. This model also helps in drawing potential investors. Since it’s secure and trustworthy, many investors prefer it over other fundraising models.
Viable IDO marketing strategies to use in 2023
All businesses need marketing to prosper in their respective products. This includes the projects that leverage the IDO model. Marketing helps to reach many audiences and capture their attention.
With the growing competitiveness in the crypto space, you must begin your campaigns as early as possible. Starting early will help you acquire a significant market share before the crowded marketplace gets overly crowded.
Prospective investors are the main target for entrepreneurs who are conducting IDO marketing. This is true for all IDO tokens whether they’re being used for trading, gaming, or any other use case.
Aspects of IDO campaigns that can be used for crypto project promotion
1) Social media
Social media channels like Twitter, Instagram, and Facebook host a significant number of crypto enthusiasts. Therefore, they are ideal platforms for launching IDO marketing campaigns. With the right choice of content or marketing approach, you can reach a massive crypto community on these platforms.
These platforms are also relevant during community building. You can simply create a forum for your project in any of them and attract users to it. With the help of social media outreach, your IDO site can get significant traffic. Given that social media is a digital space that’s rapidly and continuously expanding, your project must have a presence there.
The most effective marketing content for social media is original or authentic. With such content, you can attract both investors and blockchain technology fans.
2) Creative content
In marketing, content is a critical component and you can use it in different ways. Whether you’re preparing a white paper or publishing blog posts, the quality of content you produce is essential. What you need is striking content and an SEO PR strategy.
You can use creative content in various ways as you run your campaign. The most common techniques include audio, visual, articles, posters, textures, and captions. With enough creativity, your marketing materials will be irresistible to target users. This also applies to other important areas like audience education, insights, roadmaps, and business ideas.
3) Activities for community building
There’s a benefit to having a community for your business in the crypto space. While you can take advantage of the existing crypto groups, they don’t give you the freedom to control the platform. As such, you have to create one specifically for your crypto venture. If you have time and a PR team, you can manage this easily.
However, if you are launching a crypto business for the first time, you may not have the resources required for community building. If this is the case, you can let PR specialists assist you with this. They’ll design and implement campaigns that generate traffic for the various forums you’ve created.
Building a crypto community is half the battle when you’re promoting a new crypto project. The other half is keeping these people engaged. Discord and Telegram are the best channels for community development. They have enough resources and attract audiences in the crypto space.
Managing your project forums on these platforms is easier. If you want to promote your IDO campaign, you can start by engaging your community. After all, communities on such platforms comprise crypto users and potential investors.
On these forums, people can ask questions and get feedback. Furthermore, they can actively contribute to product development by offering their ideas.
4) Direct marketing approach
The use of an indirect marketing approach is popular in crypto marketing and other businesses as well. However, these methods target the audience as a whole instead of individuals. A direct marketing approach allows you to target specific individuals. These individuals might be active participants in your community, or maybe they’ve simply shown interest in your project.
There are several ways in which you can execute a direct marketing approach. Email marketing is the most popular direct marketing technique. However, there are instances where email marketing is not that powerful. This is why you need to supplement your email marketing strategy with direct messaging. This method is more robust than email marketing.
Unlike social media, direct messaging and email marketing require a formal approach. They are great examples of professional marketing techniques, but when delivering your content, you must maintain a formal tone.
Viable IDO marketing strategies for boosting fundraising
1) Airdrops & giveaways
It pays to organize intriguing and compelling airdrops and giveaways for your IDO project. Initially, fundraising campaigns and interactive aspects were enough to drive the desired traffic to a crypto project. They would capture the audience’s attention and attract them to your business site.
Now, you can capture the audience’s attention more easily with gifts and incentives. If you want to engage them in real time, this strategy works especially well. The potential to win prizes is a lucrative deal that many crypto enthusiasts would not want to miss. After all, a giveaway or Airdrop is an opportunity to earn crypto and discover new investment opportunities.
When organizing an airdrop or giveaway event, it’s important to ensure the entire process is authentic. This includes the prizes. You can add a touch of excitement to ensure the giveaway is even more enjoyable. Additionally, you can capture the audience’s attention even more by linking your plans for the next airdrop.
2) White paper
A white paper in the crypto realm caters to the needs of different users and highlights different trends. To help the audience understand your project well, your white paper must be as detailed as possible. What’s more, you must adhere to the typical guidelines for writing a white paper.
Beyond the standard white paper guidelines, make sure you are creative about how you prepare this document. You need to be innovative and offer detail without making the document too long. The idea here is to help prospects understand your project, not confuse them with intricate terms.
Not all investors understand the crypto industry. Some of them rely on basic information to invest. Therefore, providing a detailed but easy-to-understand white paper can help them understand your project.
You can use the white paper as a marketing tool to convince investors to invest in your project. It’s a compelling strategy that can yield results. It also helps capture the audience’s attention, and build traffic for your IDO.
3) Tokenomics rights
Due to unfamiliarity with this concept, many IDO projects lose the opportunity of leveraging tokenomics rights in crowdfunding events. When you don’t use tokenomics rights, the chances of succeeding drop – no matter how unique your project is. The good news is that you can hire specialists to help to design the token mechanism before launching your IDO.
You can also research and discover innovative protocols for your IDO project that will attract potential investors. This comes in handy if you are exploring the trendy market with your project. That being said, you can base token protocols on market trends.
4) Auditing and PR
You need to retrieve the smart contracts early on if you want your project to earn customer confidence and trust. This is also a means to create a legitimate business in the crypto space where the level of trust is shaky. Additionally, it’s an opportunity to earn credibility and partner with other companies in the crypto space.
This approach is great for generating traction and getting more insights. Through regular PR operations, you’ll be bridging the gap between the marketplace and media. As such, you’ll be able to share insightful content and provide regular updates.
ICO vs IDO marketing
The IDO fundraising model is a hybrid model that combines IEO and ICO. It’s the latest fundraising model that’s sought after by various crypto companies and startups. Let’s look at the similarities and differences between these fundraising models.
While there are noteworthy similarities between ICO and IDO, the major contrast is in the exchange. ICO relies on a centralized exchange. On the other hand, IDO uses a decentralized exchange.
Compared to the traditional fundraising models, ICO and IDO fundraising take significantly less time. While an ICO may require several rounds to complete the funding event, it still takes less time than the traditional methods.
Another similarity between these two is the absence of intermediaries. Hosting the funding events in an exchange eliminates the need for middlemen.
- An ICO allows entrepreneurs to access funds from investors around the world
- It takes about 30 days to complete ICO campaigns and almost every project attains its funding
- ICO is easy to use as a fundraising model for a crypto project
- Users can access safe digital wallets with the IDO model
- Immediate access to trading and liquidity
- Token and project vetting is done by the vocal community allowing both start-ups and major companies to access funding.
- There are no intermediaries or need for listing fees when using IDO
You can choose to be your own master in executing IDO campaign strategies. Nevertheless, this is not a route you should take. You’ll end up with more tasks than you can handle. Even worse, when you get overwhelmed with a project, it’s easy to lose focus.
If you want to adopt the most viable marketing strategies, hiring specialists is essential. By reaching out to IDO experts like those at Pressfarm, you’ll obtain valuable marketing Intel for your project.
Pressfarm is a PR agency that has experience working with crypto companies to create quality content that these companies can publish on their owned channels and distribute to media professionals within their niche. Using relevant information that you submit when you sign up, the team at Pressfarm can create professional press releases, fascinating guest posts, and branded media kits for you.
In addition to creating this content, the experts at Pressfarm can distribute this content widely. By sharing this content with the right media outlets, startup directories, and professional networks, the Pressfarm team can boost your online visibility. The goal of this distribution strategy is to make it easier for members of your target audience to find you through organic searches on various search engines, including Google, Yahoo, and Bing!
You can also use custom media lists built by Pressfarm’s account executive to connect with the best crypto journalists. Along with a database of 1 million+ journalists, bloggers, and influencers, these media lists can help you to keep doing media outreach long after Pressfarm has run your PR campaign.
If you’re a crypto brand, then partnering with a PR agency that has a track record of success with crypto products can make all the difference. One of Pressfarm’s PR packages could be just the right thing for you.
With Pressfarm’s help, you can perform optimally in other critical areas of your project that need your attention.