Any successful campaign for ICO requires good promotional strategy. However, PR promotion isn’t something that you strategize within minutes. It requires one to provide proper attention to the subject with careful research and unique thinking. At the initial stage of its launch, ICO was a successful campaign. With time and changes in the demands of updates technology, ICO isn’t as popular as it was once. With the increase in the bogus tokens and Ponzi-schemes, people have eventually lost faith over the ICOs with the initiation of the crackdown in the regulators. If you need to promote your ICO through the use of PR, you might face many challenges.
The Existence Of Your Project
The PR journalists today won’t write about something that comes with that comes with speculations and promises for something that has no existence. Ideas come cheap, and if threaded properly, they can tread towards the development of great things. However, this doesn’t equal great new piece.
Regulatory Restrictions And Advertisement Bans
Major channels for advertisements such as social media which includes Google, Twitter, Facebook, and SnapChat essentially banned ICO advertisements. Regulatory agencies such as SEC have tightened the promotional practices for ICO. This is why you have to be extremely careful with apt promotion and definition of an ICO.
A major faction of the average user in the cryptocurrency bandwagon doesn’t have a good understanding regarding ICOs, blockchain technology or cryptocurrencies. However, with Bitcoin emerging as the topper during December of last year, people started showing in this currencies. Given the fact that it is paired with major volatility regarding price, scams and risks are ever present in this domain which leads to dropping down of trust factor. This suggests that one needs to strive harder to earn the trust and support from the audience while validating the project by pairing it along with the string PR based campaign.
Successful funding is a major challenge when it comes to ICO. The potential audience circle is typically split into two parts. One side is occupied by token investors looking forward to acquiring their next monetary profit. The second half of these people is the ones who show interest in the functionality or purpose of an ICO project that is being funded. However, there is rarely a single person sharing both agendas.
This suggests that the PR campaign must target both the potential investors by encouraging a rally that supports dual motives.
PR Techniques To Deal With These Challenges
Now that you have a clear picture of the challenges faced by ICO in terms of PR, here are some of the ways to deal with these challenges.
1-Allocate Accurate Budget
In order to make more money, you need to invest at least some. To earn a monumental PR impact, you need to do more than just slapping out another press release with the help of your keyboard. Time, strategy, talent and ample hard work are the only correct way to get best results. However, all these come at a price tag which you need to allocate for your PR promotion.
2-Bring together the best team
A genius PR strategy requires one to have a good team that is updated with the latest technological changes in the market domain of blockchain and cryptocurrency. They can actually carve a pathway to success with smart strategies that actually sell.
3-Write as much as you can
Getting your content published over the top media magazines or websites isn’t the only way to achieve good customer base. You need to jot down each and every aspect of your ICO all over the digital platform, even in the small ones. You will be amazed to find out that even the small websites hold a great potential in terms of pushing up your PR campaigns.
Random words paired with statistics aren’t what attract your potential customer base. A good storyteller is what you need for the success of your PR campaign. Instead of going for the regular write-ups that inform in simple ways, go for the storytelling pattern that informs interestingly. Rather than informing the press about your ICO launch, update them with the details of its impact over the world.
5-Understand the audience
Make sure what you convey with the help of PR actually appeals to your audience otherwise it is a waste of time, energy, and money. Make sure you clearly align the elements of the story to help your audience coin a relation between the thing you sell and what your audience requires from you. Make sure your audience takes something back from your PR campaign without being disappointed.
6-Make sure your website ranks at the top
If you are planning a promotional strategy for your website, make sure your audience knows you. This means any new information related to your company is of relevance for the journalists and they will definitely pay heed to what you have to sell. However, with no presence over the digital platform or with zero presence, you cannot even expect the journalists to reply back with a “No” for the PR campaign. Journalists require something that attracts the audience and having limited identity can be a problem here.
7-PR should be the only section of the marketing pyramid
Relying completely on the PR for the promotion of ICO can be a bad move. Apart from that, make sure your PR campaign is supporting the marketing channels you have opted for. Make sure you do not over promise or oversell something you cannot deliver. The lack of marketing campaigns leads to failure with ICOs. This is also true of the abundance of marketing that is of poor quality.
8-Establish Personal brand for your business
Adding the tag of personal brand to your business campaign for ICO can essentially accelerate your PR campaigns. The best way to do so is with guest posting while demonstrating your expertise in relevant topics. This helps your business root authority as the thought leader while increasing awareness about an ICO product.
Basic PR elements
Apart from the proper understanding of all these advice stated above, you need to keep in mind the following three strategies for promotion of ICO campaigns with the help of PR.
- Guest Posting.
- Paid and Sponsored Placements.
- Hard Pitches for the Press.
Using these strategies for PR leverage shall help you achieve success in establishing your presence for ICO. This is surely going to help in attracting major followers who trust your brand and promote your vision.