How to Create Your Own Successful ICO (Initial Coin Offering)?
ICO, formerly known as Initial Coin Offering is a common buzzword among trading aficionados kicking themselves for not investing in Bitcoins during the time of their origination.
After the popularity of Bitcoins, the ICO is also catching wind nowadays. Various entrepreneurs see benefits of ICO like decentralization, lower competition, low prices, etc an opportunity to make a strong foothold in the blockchain market.
Entrepreneurs looking to launch their own Initial Coin Offering should hire an experienced ICO development company with industry experience in Blockchain development services because hiring a newbie may burn your funds and disrupt the business expectations.
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In this quick guide, we’ll learn tips that nobody will tell you on how to create your own successful ICO (Initial Coin Offering):
Expert advice
Well begun is half done, conduct deep market research to understand the consumer behavior, target audience, and competitor strategies. Discuss your business idea in major discussion forums, it'll give you initial insights from the potential investors and other resources involved in the blockchain market.
Ask yourself whether your ICO idea will penetrate the existing market or not. Consult an experienced ICO development company that can figure out the flaws in your business strategies and help you in deriving a reliable business model.
Hire proficient ICO experts
Having correct knowledge about the business plan will help you to determine the exact number of team members you need. Generally, 20 members are enough to make an ICO team of business analysts, legal advisors, content specialists, editors, developers, and designers.
You can also opt to outsource your project to an ICO Development Company having vital experience and skilled resources. The ICO projects are prone to various risks, that’s why to hire trustworthy assets that will never back off in any circumstance.
Competitor Analysis
Market research is one of the most crucial steps to make an Initial Coin Offering successful, conduct in-depth market research and try to conceive what strategies can help you penetrate the market.
Analyze the strategies on which your competitors are already working, it will help you determine what aspects of your business model don't fit in the ICO industry.
Read case studies of ICO companies that have failed, it’ll also help you in deciding correct resources for your project like blockchain technology, platform, etc.
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Register your company
ICOs are not legal in every country, make a list of the countries that are friendly with digital currencies. For example countries like the USA, Great Britain, Hong Kong, Virgin Islands, Singapore, etc promote digital currencies where Initial Coin Offering is not legal in China and South Korea.
Get your whitepaper ready
Whitepaper is the first way of acquiring the prospects (investors) in your customer funnel. It describes your experience, reliability and brand value. Publish it on the first page or at the center of your website.
Check for these features in the whitepaper as well:
Case studies
Product description
Tokenization process
Team overview
Sales model
Privacy terms
FAQs
Check the ICO companies to analyze the gaps in your white paper. Try to mention crisp information that could pitch the reader successfully. If your white paper is capable of attracting the prospect in a few pages then the deal is definitely yours.
Launch your website
Create a well-interactive website to represent the aura of your Blockchain development services, make it eye-catching and presentable. It should only talk about information i.e. about the project, benefits of investing in your ICO Development Company, launch date, etc.
Try to publish minimum pages or better it be a one-page website that clearly describes every information without any point break. Include an introduction video, subscription form, roadmap, product description, team, partners, ICO details, whitepaper and other documents, social media handles, and contact details.
Trust and Security
If your target audience considers your business model as a scam then it will damage your brand reputation enormously. Try avoiding such a swindle-like misunderstanding by implying high standard security protocols, wallet encryption features, and highlighting a security audit report of the project.
Take home message
Being a successful ICO Development Company against a pool of Blockchain development services takes a lot of strength and creativity. However, if done correctly, the above tips will make your Initial Coin Offering a successful part of the crypto market.
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