ICO PR

Have you heard of cryptocurrency? Chances are you might not know that term, but you’ll recognize some form of what it is … the most commonly known is probably Bitcoin. Cryptocurrency is a form of payment that can be easily used on the internet. Now there are several different types of the payments, and when they are introduced to world markets, they come out in the cryptocurrency version of a stock IPO … an ICO or initial coin offering.

In a recent ICO, TenX raised $80 million in just seven minutes. By anyone’s standards … that’s a successful campaign. But what approaches and preparations would be useful in preparing for an ICO as far as communications and cryptocurrency public relations prior to the opening?

Timing and Volatility

The cryptocurrency market has been on an upswing for several months, but it is also highly volatile and will have drastic downturns as well. Overall, the tendency is for that market to climb, but timing for the release of an ICO can be everything. The market still seems to have a lot of room to climb, maybe as much as twenty times the current value within the next year or so, but that’s speculation.

Does It Offer a Solution

One of the reasons TenX did so well in their ICO was they offered a solution not often found in cryptocurrency. Because cryptocurrency is a new form of “cash” only a few places on the internet are willing to accept it as a payment. TenX gives a debit/credit card that is easily used in most purchases without additional fees, allowing their “coins” to convert to spending capacity immediately.

Scarcity Still Sells

Creating a campaign based on scarcity can be a powerful approach. If you have something offered at the right time that solves a problem almost no one else has managed to do with similar offerings, then you add the “limited supply” element, and you may well have a run on the supply of goods you have available. Only offer enough to last for a few hours after they are available and it helps. What helped further was another recent ICO, Stratis, that sold and not long after that, the initial speculators who bought at the ICO had points that were worth 129,000% what they initially paid.

Don’t Forget the Whitepaper

The people and organizations that have enough money to buy into the ICOs are sophisticated investors, so just telling them they could make money is not enough. Well in advance of that ICO sale opening, speculators will need to have the research and information in their hands and the way to offer them that information is with a “whitepaper.” That would be similar to due diligence documents in many other investments. The ICO whitepaper explains the technical aspects of the deal in detail and usually does so from a conservative view … not overselling or overpromising. Give investors something with teeth, and skip any salesy chatter.

The “It” Factor

You may wonder what ties such an offering together and makes it work. Well, if all of the above is in place, there’s still one element necessary to make any good business deal work. There has to be trust. The people offering the ICO need a good reputation, but even for people new to the industry, when there is transparency in the deal, it makes it work. Provide great customer service and make sure your management people are well trained in how to help people understand the ideas and concepts associated to the offering.

Cryptocurrency PR Firm

5WPR is working extensively on ICO PR Campaigns.

 

Ronn Torossian is the Founder and CEO of the New York based public relations firm 5WPR: one of the 20 largest PR Firms in the United States.

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Ronn Torossian is the Founder, President and CEO of New York-based 5W Public Relations. He has overseen the company's rapid growth and expansion to the Inc. 500 list, as well as provided counsel to hundreds of companies, including members of the Fortune 500, Inc. 500 and Forbes 400. His work spans global interests, corporate entities, high-profile individuals, regional business entities, government agencies and academic institutions - both on routine public relations matters and extremely sensitive issues. One of the foremost public relations experts in the U.S., Torossian is known for his aggressive, results-focused orientation, as well as his close working relationships with members of the media, influencers, decision makers, politicians and celebrities. At 5W Public Relations, Torossian's client experience has included programs for Coca-Cola, Microsoft, Anheuser-Busch, Barnes & Noble, Cantor Fitzgerald, IHOP, McDonald's, Evian, EDS, VeriSign, XM Radio, Seagram's, The Loews Regency, Bad Boy Worldwide Entertainment, Marriott Hotels, Vail Resorts, Pamela Anderson, Snoop Dogg, the Government of Israel, and others. Referred to by The New York Post as a "publicity guru," by Fox News as a "high-powered PR CEO," by Tyra Banks as a "crisis management guru," and by CNN as "a leading PR expert," Torossian is regularly featured in and quoted by the media, including by CNN, Fox News Channel, MSNBC, NBC, The New York Times, and others. CBS National News said "Ronn Torossian knows spin," and a New York Times feature story on Torossian referred to him as "The consummate hard-driving, scrappy NY publicist." Earlier in his career, Torossian was a Vice President/Group Director for one of The InterPublic Group's (IPG) largest PR agencies, where he was responsible for significant client growth and successful client programs, including work for Clinique, Fox News Channel, DHL, Hard Rock Café and others. A resident of Manhattan’s Upper West Side, Torossian was named to the Advertising Age "40 Under 40" list, PR Week's "40 Under 40" List, is a regular lecturer at universities and conferences, a member of Young Presidents Organization (YPO) and a board member of numerous non-profit organizations.

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