The launch of an ICO takes both time and effort. Simply having a disruptive technology at hand doesn’t make the project successful; marketing it is equally important to attract investors.
At the same time, there are budget considerations to be kept in mind. Depending on the complexities of the project, the ICO budget will vary. In this article, we take a look at the budget aspect solely from a marketing standpoint.
A detailed, informative and authoritative whitepaper should be a part of every ICO launch. Everything about your project, right from its conception to its token distribution mechanics and future roadmap, has to be mentioned here. This is what investors will first look out for to see if the project is worthwhile investing in. Naturally, whitepapers need to be technical and professional as well as clear and concise. It is usually better to have the founder or CEO craft the document before it is completed by a professional writer. Affordability should not be a factor here, since spelling errors and poor grammar won’t be forgiven. High quality writers do come at a cost, usually starting from $5000, although it could go as high as $15,000.
As a company interested in revolutionary technology, expectations for your website will be high. The design should be intuitive and professional and all content must be fully optimised. Make sure you also include specific ICO details such as your project timeline and goals. It’s also a good idea to introduce team members.
The focus should be on creating something that stands out from the many other ICO websites already on the internet. Websites built from scratch would provide a lot of freedom for customisation, rather than using an existing template. Website development can cost anywhere from $6,000 to $35,000, depending on your needs.
It is important to mention the importance of SEO here. Regular and relevant, keyword-rich content will improve your search engine rankings and help gain an edge over the competition. A content creation team would be ideal for this. They can help create high quality content, not just prior to the token launch but also in future. You should set aside $35,000-$40,000 for the content creation team.
Social Media Marketing
You can buy commenting services to aid in building an active and engaged community. These services cost approximately $5000 for one week. They can help build discussions on Telegram, BitcoinTalk, Reddit and more. Many ICOs also opt for airdrops, in order to grow their communities. Airdrop management is a little expensive, at $50,000, plus you would have to give away tokens to the participants as that’s the main incentive for drumming up ICO interest.
If you want to offer a live chat service via your website, you’d ideally need a 2-3 member team working 24/7. Such a team could also focus on platforms such as Twitter, Facebook, LinkedIn and YouTube. If done right, social media marketing can attract a lot organic attention. Consider hiring a full-time community manager to head the team. It would be great if you have a multilingual team. While a community manager could charge a minimum of $1,500 per month, maintaining a team would cost approximately $6,000, additionally. If an airdrop manager comes in, add $500-$600 per month to the budget.
It takes effort to connect with financial analysts and blockchain journalists, who could write about your project in reputed publications. Teams generally outsource these activities to people who have existing relationships with the media and exceptional communication skills. PR activities can cost an estimated $60,000. Remember that publications like Forbes charge a minimum of $2,000 for a single publication as a guest post.
Paid Advertising and ICO Listing Sites
To get your ICO across to the masses, having it listed on good listing sites like ICObench.com or CoinGecko is a must. Do not opt for a non-premium spot, since it won’t attract that much traffic. A premium spot will cost you approximately $5,000. Consider a total of $30,000 to get your ICO listed among at least six of the top 10 listing sites.
There is not much scope for paid advertising, given that the important platforms have ICO ad bans in place. But you can still put ads on crypto websites within a budget of $30,000 to $100,000. Remember that crypto news sites are charging hefty sums, since the ICO space is lucrative right now. You could negotiate package deals for monthly ads and content publications.
Gathering the highest quality influencers on Instagram, Twitter and YouTube, and creating partnerships should be a compulsory aspect of your ICO marketing strategy. Investors trust influencers and millennials actively connect with them. Top crypto bloggers charge somewhere around $30,000 for YouTube videos. If you want a prominent personality, someone like John McAfee, expect a price of $105,000 per tweet! But he does have a massive follower base of 811,000.
ICO marketing costs are not engraved in stone. All these figures are approximations and will change based on the level of services employed by you. On the whole, the total marketing cost of ICO marketing will amount to around $500,000.