Cryptocurrency or cyber currency has become big business, and that change has been lightning fast. Some of the blockchains have seen a change in value during 2017 of as much as 7000% or more. That market is volatile, but still growing. That being the case, it is time to talk about marketing these companies and what they offer.
Find the Connection to Your Coin
Buying the tokens for any of these companies does more than making an investment in the company. The coins, also allow the purchase of services or products online. Some allow access to an operating system, some access to foreign exchange algorithms, or other things too. So connecting what a coin does with the interests of potential investors should factor into all marketing plans for the company. Potential investors might come from different backgrounds than typical investing. Instead, they may be found in those who have an interest in what your token can do. If they give access to a sports betting site, then your marketing should take that into consideration.
When getting ready for an ICO, any expertise and reputation in the industry or the type of target market for the tokens becomes like cash in the bank. Cryptocurrency still has a lot of “the darknet” rumor attached, so anyone looking at investing in an ICO comes with some concerns. Expertise and reputation help to set those concerns aside media interviews or representation in the media establishing leaders as an expert is advantageous.
Becoming aware of the securities regulations that apply, as well as those in the pipeline is vital to marketing efforts.
Education of Others
As mentioned previously, cyber-currencies and blockchain companies are a relatively new type of enterprise. Because that is true, marketing materials and efforts need to also spend time in the education of potential investors and customers. For a specific company and their tokens, then teaching investors about what their coin does, where they get special privileges or can make money from the increase in the value of their tokens should be the focus.
The approach needs to be as if you are dealing with people who have no understanding of the process with token offerings, your coins, online wallets, and any legal aspects they need to know. Confusion will not work in the company’s favor.
Ronn Torossian is CEO of 5WPR, a top 15 US PR agency. The company recently established a special practice area for cybercurrency companies.