Successful funding of the Ethereum project in 2014 has been followed by more and more businesses following the ICO funding route. While the fact that more than $5 billion was raised through this route in 2017 may make it a highly lucrative option, businesses need to understand that it is not easy and requires a well thought out and planned ICO marketing campaign. Again, the team, planning and managing the marketing campaign for your ICO plays a crucial role in its success. Here we talk about how to leverage your team in an ICO marketing campaign to convince the audience of the credibility, viability and value-add of your project.
Importance of Marketing Your Team
One of the prominent factors that motivates an investor to participate in your ICO is the team behind the project. When you are able to showcase the experience, skill and passion of the core team, you lend credibility to your project and its token ecosystem.
According to an article on Forbes, “It’s a well-known practice that if you invest in a talented team and give them the freedom to create, they will be able to test, experiment and build something successful.” The fact is that an idea is not motivation enough, people prefer to invest in people, rather than concepts.
What separates projects that are doomed to fail, or are scams, is the team. For this, it is very important that the team understands and agrees with the purpose of the ICO. In addition, it is crucial that the team encompasses diverse skills, based on your project. So, not only should you have technology experts to take care of the blockchain part of the project and your crypto token, but also experts in the domain that your project addresses. So, if your project solves a problem for the music industry, you need people who are familiar with music publishing, rights, usage and more.
When you have a skilled team, you really don’t have to overthink marketing them, their skills are enough to get buy-in from investors and consumers.
Leveraging the Marketing Team
A thorough understanding of the project, its objectives and benefits will help the team members to approach the target audience in a confident manner. So, the first step is to get buy-in from the team. Given that they have created the entire ecosystem, one thing that you will get from them is passion, once they believe in your solution, and work to bring it to life.
And, when you are ready to market your project and its ICO, here are some things that you should keep in mind while marketing your team.
Introduce Your Team
Ensure that all the team members are introduced to the target audience. This can be done by listing out the names and their qualifications and other details on your website and whitepaper. Easy availability of Linkedin profiles of the team members will ensure that interested investors and consumers can acquire information about their backgrounds and experience and thus make an informed decision.
Identify Each Team Member’s Strengths
Now, not all team members may be equally skilled or experienced. So, it becomes very important to identify the capabilities and strengths and weaknesses of each one and assign them work accordingly. While one member may be good at planning, another may be a good speaker and have the ability to convince people about the effectiveness of your project. So, it is important to leverage the capabilities of each team member in the right manner.
Hire Experts or Advisors
It never hurts to get advice from experienced professionals. And, if you can enlist the help of big names or extremely experienced advisors, you will give your project added credibility, which is always a good thing. This can go a long way in winning the trust of the target audience.
Prepare Your Team to Face your Audience
Apart from your website and whitepaper, promoting your project on the various social media channels is crucial. With the ban on advertisements on some of the most popular social media platforms, you need to find ways to create engaging posts and updates regarding your project and its ICO. One of the best ways to do so is by getting your core team to create videos, explaining your project and token economy in simple terms for the layperson. Videos are very effective in engaging viewers. However, to make an effective video, you will need to train your team on good presentation skills, how they should address your target audience and industry experts.
Also, encourage them to participate in crypto and blockchain related forums, write blogs or participate in relevant discussions online. Ensure that they are active on social media and provide regular updates about your project and its milestones. If you are visiting blockchain seminars or conferences, make sure they promote their attendance through their personal social media and even share photos of the events.
Avoid Frequent Changes in the Team
Frequent changes in the team, especially just before or during the marketing campaign, may send the wrong signal to the audience. On the other hand, if you are adding experts to the team, it is a great aspect to market.
The ability of your team to communicate effectively about the project and its value add and address any questions people might have is crucial. The team also needs to be able to identify when a planned strategy is not working or yielding the desired results and when there is need to regroup or re-plan.