ICOs are an effective way to raise money for blockchain-based projects, but with many scams coming to light in 2017, investors have become increasingly wary of departing with their money. Today, projects looking to raise funds through ICOs need to work harder and adopt marketing techniques that can help them convince investors of the genuineness and viability of their blockchain solution.
This is where specialised services from marketing agencies focused on promoting blockchain projects and ICOs can come to the rescue. They will not only help you with online visibility but also create an effective whitepaper that details your project and the value it has to offer for all stakeholders.
Whitepaper: An Essential and Effective Tool for Marketing an ICO
While a growing number of investors are looking to ICOs as an attractive investment option, they are dissuaded by the various scams that have been reported in recent months. In fact, Bitcoin.com reported findings from a study which revealed that over 80% of all ICOs turn out to be scams, where the fraudulent players disappear with the raised funds, leaving investors high and dry with a worthless crypto token. The study also revealed that only 8% of crypto tokens sold via ICOs actually reach the exchanges.
This makes it all the more important to establish yourself as a genuine project with a viable token. And, this is exactly what a whitepaper can do for you. This highly crucial document outlines your project and the solution it provides to fix an existing problem. It details your plans and describes the technology being used and the benefits of its implementation in a clear and concise manner. Ensuring that investors understand the basic motives of the underlying technology solution of your project is paramount.
Although you could consider writing the whitepaper on your own, given that you have the most in-depth knowledge of your project, it is advisable to seek professional help to create a document that will appeal to investors and put forth your blockchain solution in an easily digestible yet credible way. Expert ICO marketing agencies can help you do just that. For a better idea take a look at a sample whitepaper.
Essentials of an ICO White Paper
While it is easy to copy the template of a successful ICO like that of Filecoin, it is advisable to create your own unique whitepaper that highlights the potential of your project. So, here are some essentials that need to be kept in mind while preparing the whitepaper.
Details of the Project
If you want your project to stand out from the crowd you must include detailed specifics describing the sole purpose of the project and how it will resolve a particular problem. Try and support your claims with market analysis data as well as market opportunities that will allow your crypto token to gain in value over time. Your aim should be to ensure that the target audience understands what your project offers. Don’t forget to present the benefits of using blockchain or a decentralised network in your project. Justification or correct linkage to an existing cryptocurrency or platform is essential to convince investors of your project’s potential.
Details of the Team and the Promoters
It is important for investors to not just be able to put a face to the project but also learn about the key qualifications and experience of influential team members, says an article by Cointelegraph. Allowing people to see that you have a strong foundation on which the project is built will help you gain trust and achieve your desired fundraising goals. Many investors thoroughly research the team before getting involved, so you may also want to think about updating all LinkedIn and other social media profiles to ensure all information is correct and consistent.
How the Funds Raised Will be Used
The next big thing to include in your whitepaper is a breakdown of how you intend to use the raised funds. These financial details will convince investors about your genuineness and help them weed out fraudulent players. Don’t forget to provide details of the token to be issued, how many will be issued at the time of the ICO, the total limit, how the tokens will be distributed, the trading mode or any trading-related restrictions, additional benefits that may accompany it, how it will function within the ecosystem and more. Also provide details of the pre-sale or any bounty programmes that you will run as well as the number of tokens held in reserve by you for later issuance.
It is very important for investors to know your roadmap. So, give clear information on the various milestones of your project and their target dates. Information provided in a systematic manner will prove to be highly effective in convincing investors that the project is genuine and on track.
Focus on the Presentation of the White Paper
So far, we have talked about information to be included in an ICO whitepaper. However, apart from the content, presentation is vital. ICO marketing solution agencies ensure that your project’s whitepaper is presented in a manner that is clear, concise and attractive. The whitepaper should have a clear table of contents with fast track links to each section. Expert marketers know how to present your project in a positive light by linking it with market-related information or real-life examples showcasing the benefits your project will offer. Another advantage of using the services of an expert ICO marketing agency is the inclusion of relevant diagrams and pictures to help the audience easily understand the workings of your project.
An effective whitepaper needs not to be a highly technical one because a significant proportion of emerging investors are not techies. It should rather explain the project in simple terms, while highlighting its plus points and benefits, so that potential investors can make an informed decision.