Why Community Building is important for ICO Marketing?Alfred
The importance of community building for ICO marketing cannot be emphasized enough. Every ICO project requires support to be successful. This support comes from developers, small-scale investors, and supporters who happen to be the blockchain community. While having a solid product and a great business plan is essential, the success of your ICO largely depends on the strong community you build around it The first step therefore before you even think of launching your ICO is to find a very strong community and build your currency around it.
Most ICO projects fail because they build their currency and expect people to just show up and support their venture.Just as the crypto world is growing first and so is the crypto community. Having the support of a community that is growing all the time enables news about your ICO to spread fast creating more visibility for your ICO.
Community building will help you in a number of ways for your ICO marketing. These include;
Market Testing and Getting Feedback
In order for products to be successful in the market, they have to undergo market testing. This also applies to the cryptocurrency world. Having a community that truly believes in your venture can help improve your product and ICO. You can collect feedback about your project or whitepaper as you engage with your community members on the different platforms. You can use this critique from your community to make improvements on your cryptocurrency.
Putting your community’s considerations into place makes them feel appreciated which results in better performance in your ICO marketing campaign. Most successful ICOs use the communities they build to identify structural and technological problems of their ICO. Their developers then work to improve these problems.
Talking to your Target Market
Building a community for your ICO ensures that you have a target market from the word go. These are the people you will explain your project to You need to provide them with all the information about your project and explain how the project works. Understanding how the projects works will enhance their confidence which ensures that you get a successful initial offering.
In addition to enhancing confidence, your community members can help educate other potential customers. You should, therefore, ensure they understand your project well. Also, treat your community members as part of your team. That way, they will be your ambassadors who bring more customers on board.
Your community can play a major role in your PR campaigns. This ICO marketing technique is essential in achieving increased publicity about your ICO. Getting publicity in the cryptocurrency industry is achievable through other means such as publishing articles on websites as well as paid ads. Community PR, however, is a more strategic and inexpensive method of gaining publicity. If you build a bigger community for your ICO, then you have a higher chance of success. This is because the size of the community you build is correlated to the success of your ICO.
Also, third parties endorsement are more credible than you talking about your own ICO. Having a community that endorses your ICO through PR will ensure your ICO becomes more trustworthy. This increases the chances of collecting more funds during your main sale.
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How to Build Your Following Organically
Reaching your target audience is the first step to generating a thrill around your blockchain project. There are several ways to achieve this They include;
Having an active presence on social media platforms like Facebook, Twitter and Instagram can help in building a community of followers organically. Engaging users on these sites gives them a chance to learn about your project. Also, it provides them with an opportunity to ask questions about your project. You should also ensure you share educative content about your projects on media like Reddit and Linkedln. This way, your followers can get to read and understand your project better.
The secret in building a loyal following in social media is by trying to be as responsive as possible. You can have a community manager to be responsible for all the customer requests, complains and questions. This is essential in ensuring you grow a contented community with goals that align with those of your project.
These programs allow real-time communication between you and your supporters. Your followers can ask questions and you provide real-time answers. One of the most popular chat program used by the crypto community is Telegram. Telegram allows you to answer all blockchain related questions as well as giving customer real-time ICO updates.
It also facilitates public discussions in crypto related groups to enhance engagement with customers and other cryptocurrency community members. It is, however, important to ensure you stay vigilant about the scammers who target your prospective customers.
You can use bounty programs to increase your following. Bounties are incentives in the form of free tokens that you give to your loyal members for bringing new members. This ICO marketing strategy helps immensely to expand your reach hence building your community further. You can also recruit brand ambassadors from your community who can assist you to market your ICO.
Be sure to reach out to the most visible members of your community to make them ambassadors. The more visible an ambassador is, the more chances you have of getting the attention of big investors who may be eager to invest in your project. You can always reward these ambassadors with bounty programs.
Every successful Bitcoin project was started from the ground up. You have to start with your followers. Identify your target market from your followers and try to understand what they need through engaging with them daily. Share meaningful content that is based on their needs, partake in online crypto related discussions and attend to your followers’ concerns. This way, your followers will feel valued and part of your project team and you will gain their confidence. Gaining your community confidence boosts your ICO marketing campaigns and therefore the success of your ICO project.