The most important point for any start-up hoping to make an initial coin offering is to have a solid product. Yet just having a good product isn’t enough on its own. Here are 5 tips to help your message reach potential investors, all of which can be done for free or with low expenditure.
1) Create a clean, clear websites
Good web design isn’t free, but it doesn’t have to cost a fortune either. Although your team should have extensive knowledge of the ins and outs of the product you’re trying to launch, you don’t need to put all of that information online at once.
In the early launch stages the most important thing is to build a site with a clear message and clean design, highlighting the things that matter: The central idea, and the team that will deliver it. You can always add more detail later, but don’t get weighed down in trying to create the perfect site first time.
2) Assign someone to social media
You should be using the website to drive people to your social media accounts, and vice versa. This is where they can get a sense of what your company stands for, so it’s important you know who on your team is taking charge of it.
Even if you’re not putting a huge effort into social media, you should still know whose responsibility it is to post tweets or Facebook content, and pick up replies. Communications is an important role, so don’t let it be an afterthought.
3) Start sending out press releases
A well crafted press release is crucial to building up media interest in your product. As with point 1, it doesn’t need to contain every possible detail about your product: Think about the aspects that will be most interesting, and think in terms of stories. What attracted your founders to the problem in the first place? How does your solution tie in to current trends in the tech or financial sector? Including these kinds of details will make a press release more interesting to journalists and editors.
4) Announce it in ICO calendars
There are now a number of websites that publicize upcoming ICOs, and most of them will list your coin launch for free. Sites like ICO List, Coinschedule and others are invaluable resources for helping investors discover your ICO.
5) Engage with existing communities
The cryptocurrency ecosystem is booming, and forums like Reddit, Bitcointalk and even Twitter are home to wide-ranging discussion of relevant topics every day. Don’t feel like the only way to participate is by promoting your product: Online audiences respond better to news and opinion that seems authentic rather than brand-driven, and if the name of your company is associated with productive discussion, people will take note.
6) Speak to critics
Many failed companies could have succeeded if they had taken note of criticisms and adapted rather than ‘falling in love with their solution’ and ignoring obvious flaws. Although you need faith in your product, talking to critics is a simple (and free) way to get a new perspective on your product, and address weak points pro-actively before it’s too late to ignore them.
7) Be approachable
If you’re asking investors to give you their money, they will want to be able to communicate with you in a quick and transparent way. Whether by email, Facebook, Twitter, Slack or any other platforms, your aim should be to communicate clearly and regularly about your progress, and to respond promptly to questions. Many investments are made on gut instinct, and giving a favorable impression of your company and team in your communications helps to build the trust that will make investment possible.