The concept of integrating digital tokens into the business model has become hugely popular today, and we are likely to see more companies, even the established ones, foraying into the ICO arena in the future.
With the advent of so many players, we are increasingly seeing a positive correlation of successful token sales with effective ICO marketing campaigns. Companies are hiring experts to make sure that their tokens catch the attention of the right people, and these experts rely on analytical tools to continuously monitor the effectiveness of their campaigns. Analytics enable marketers to make decisions that can result in higher ROI for the campaigns.
Money plays a huge role for the companies who launch their tokens. They are mostly small start-ups and have a tight budget for marketing. Analytics plays a key role here in ensuring that these businesses do not waste money on futile campaigns.
Importance of Analytics
ICO marketers have realized that along with PR, a token sale has to be marketed through various channels, to reach the target audience. And, there are numerous channels for this purpose. The whole point of an ICO marketing campaign is to spread information about the token and its underlying technology to the right people and compel them to come to the website and sign-up for the upcoming token sale.
Some of the key areas marketers focus on getting right include:
- A creative and functional website
- Videos that can be launched on YouTube
- Webinars conducted on multiple channels
- A solid social media presence can be created through Facebook, Twitter, Telegram, Reddit and more
- Blog posts on Medium or Steemit
- Press Releases out to crypto portals
- Direct Ad campaigns on these crypto portals.
The purpose of analytics is to give companies and marketing agencies an idea of which of their activities are resulting in more traffic to the website, and ultimately how many people are actually signing-up for the token sale.
To achieve this there are different tools and reports that can effectively segregate the traffic to the ICO website into different categories. For instance:
- Direct: This category refers to all the people who are accessing the website by typing the URL in their browser. They have mostly come from direct referrers.
- Social: It is important that campaigns and posts on social media channels be evaluated to understand whether they are reaching the right target demographic. For example, if a tweet you send is resulting in more traffic to the ICO website, but zero sign-ups, then it is time to re-look at what you are doing on that channel.
- Paid: Which paid ads are working best? From which campaigns, messaging and placements? We know that in June Google is banning ICO advertising but there are direct adverts on crypto sites that can still drive traffic and investors to your site.
- Email: Emails, unlike the usual social media platforms, do not have any word limits allowing you to talk about a product extensively. If the website is attracting a good number of people from email marketing campaign, then consider what you are doing right and do it again! A/B testing, where you send out two similar but slightly different emails is a good way to find out which message resonates best with potential investors.
There are robust technologies available to support real-time analytics, social analytics, sentiment analytics and much more. And be sure you are using tracking links so you know where your traffic is coming from. Good content, effective marketing strategies and analytics together can help the success of an ICO.