Major social and main stream media platforms, including Google have decided to ban ICO and other crypto-related ads. Does this mean trouble for the burgeoning blockchain industry? Or, will it lead to a shake up in the segment, with scamsters and fraudulent players finding it difficult to raise funds from unsuspecting investors? While a ban might make things tricky to start with, the end results could lead to more creative and legitimate marketing efforts – let’s find out more.
Reasons for the Ban
In recent months there has been much negative press surrounding ICO campaigns including scammers running away with investors’ money. The immoral and highly publicised actions of a few have tarnished the image for the whole industry and invited the scrutiny of regulators.
These cases of fraud have also made investors skeptical about investing in ICOs. So, what should genuine projects look to do in order to raise funds through the ICO route? Is it the end of blockchain financing? Far from it.
What are the Options Available for ICO Marketing Now?
Industry experts don’t seem at all worried about the ban – quite the contrary. Indeed, an increasing number of scam projects had already made advertising on traditional social platforms more difficult for genuine projects. Although the ad ban news somewhat shook the crypto world it has provided the industry with new mediums to sell their projects.
There are many options still available:
- ICO marketing should now focus on blockchain-based platforms that offer affiliate marketing or CPA marketing. Several agencies are offering marketing solutions for ICOs. These solutions will help target the right audience and reduce media spend. This is because with such solutions, projects need only pay for results, rather than packages.
- Another option is to approach the crypto community – including potential investors – through crypto forums, sites and communities. This kind of digital networking will help draw attention to your project and hopefully get the right people interested.
- ICOs can also work on spreading information about their crypto-related projects (and the technology it is based upon) by posting non-promotional posts on social media. These sites have only banned ads and promotional materials after all. So, the doors are still open. But don’t test the ad ban rules as this could lead to the closure of social accounts.
- Instant messaging services like Telegram are being increasingly used to form groups of like-minded people and sell the value-add of projects. This ensures that the project is noticed and discussed and, therefore, evokes investor interest.
- Putting paid advertisements on crypto-related sites, whether they are news sites or sites which provide market insights, is also a good option.
So, the ad ban has shifted the focus for ICO project owners or promoters from simply advertising on social media sites to building a community, while spreading awareness of the potential of the project. The unexpected move is likely to dissuade scamsters and open up creative avenues for genuine players. When the Google ban finally comes into play in June, closely followed by Twitter, blockchain marketers would have already found alternative sources of promotion.