There are a countless number of promotional tools and strategies that can make an ICO successful; however, one of the most effective ones has been public relations. Additionally, there are plenty of ways that an ICO can be promoted through public platforms – through blog posts and articles, to speeches at conferences, to pitching the latest news and events from the industry to journalists, all of these, and more, are very effective ways to promote and market ICOs.

Furthermore, there are plenty of benefits to promoting an ICO – one of them being that with the right PR strategy, a certain ICO can increase its levels of credibility with the public, and the audience will then deem it as worthy of trust as well as attention. Public relations is also a great way for any brand, corporation, or business to expand its audience, which includes getting a bigger number of potential investors.

However, rushing into public relations, without a plan in place or a list of things that need to be done should always be avoided, as it leads to spending money and not getting any results from it, or even worse, appearing as though the ICO doesn’t have a decent professional attitude in front of its target audience.

The first thing that the team should always do is to create a goal for the strategy itself. Without a goal in place, there is no reason behind the PR strategy in the first place, and there is no reason to measure the performance of the strategy because the results are not going to matter without a goal.

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The next step is to create a budget that will be dedicated to public relations – since PR doesn’t simply mean writing a press release and sending it out to as many journalists and reporters at different media outlets as possible, someone that has the skills as well as the time to take care of this side of the business usually means working with a PR company.

After that, it’s important to keep the target audience in mind – whether that means raising brand awareness with the general public, or promoting the ICO to more potential investors, everything that’s going to be crafted for the PR campaign needs to cater to the needs of the target audience. Knowing the interests and the needs of each segment of the target audience means that the strategy can be personalized to appeal to everyone.

Then, it’s time to focus on the storytelling aspect of the PR strategy – and having a common theme that’s going to be memorable for the target audience is the best way to create a story. While not everyone is going to remember all of the details, everyone will remember the gist of the story, which is why it’s the best way to promote anything through a story. An ICOs story can include details such as how it can impact the world or the different solutions it can offer.

An ideal PR strategy can combine all of these features and help an ICO expand and grow most efficiently.

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Ronn Torossian is the founder and CEO of 5W Public Relations, one of the largest independently-owned PR firms in the United States. With over 20 years of experience crafting and executing powerful narratives, Torossian is one of America's most prolific and well-respected Public Relations professionals. Since founding 5WPR in 2003, he has led the company's growth, overseeing more than 175 professionals in the company's headquarters in midtown Manhattan. With clients spanning corporate, technology, consumer and crisis, in addition to digital marketing and public affairs capabilities, 5WPR is regularly recognized as an industry leader and has been named "PR Agency of the Year" by the American Business Awards on multiple occasions. Throughout his career, Torossian has worked with some of the world's most visible companies, brands and organizations. His strategic, resourceful approach has been recognized with numerous awards including being named the Stevie American Business Awards 2020 Entrepreneur of the Year, the American Business Awards PR Executive of the Year, twice over, an Ernst & Young Entrepreneur of the Year semi-finalist, Metropolitan Magazine's Most Influential New Yorker, and a 2020 Top Crisis Communications Professional by Business Insider. Torossian is known as one of the country's foremost experts on crisis communications, and is called on to counsel blue chip companies, top business executives and entrepreneurs both in the United States and worldwide. Torossian has lectured on crisis PR at Harvard Business School, appears regularly on CNN & CNBC, was named to PR Week's "40 under Forty" list, is a contributing columnist for Forbes and the New York Observer, and his book, "For Immediate Release: Shape Minds, Build Brands, and Deliver Results With Game-Changing Public Relations" is an industry best-seller. A NYC native, Torossian lives in Manhattan with his children. He is a member of Young Presidents Organization (YPO), and active in numerous charities.