by Maya Harruna
Initial Coin Offerings (ICO) have been hailed as the hottest new instrument for start-ups and established businesses to raise funding. In recent years, adverts for ICOs have sprung up online. However, the industry is largely unregulated and a number of ICOs are being used as a mechanism for scams.
Social media ads that were hyping ICO options disappeared overnight as technology giants Google, Facebook, Twitter, Facebook and Snapchat called time on ICO/Crypto advertising. Now deprived of one of their key marketing tactics, businesses looking to launch an ICO are having to re-calibrate their plans following the recent blanket ban on adverts. However, the inability to advertise using social media need not be a problem nor stop companies from raising awareness for their projects. This just means that they will have to work harder to communicate their message to potential investors.
For any business contemplating an ICO launch, it is essential to recognise that there is more to attracting investors than simply placing adverts on social media. Public relations for ICOs are based on the same principles as PR for a lot of other industries. Well-crafted stories, relationship building and providing educational value is key.
At Flame PR, we have worked with a number of companies who are looking to launch an ICO and find it best to take a two pronged approach. By placing them within not only crypto-trade publications, but in mainstream B2B publications, we were better able to establish and validate our clients as a major player within the Blockchain/Crypto Currency industry. Following the recent spate of negative stories around ICOs, this two pronged approach ensured that our client stood out as a reputable business and potential business opportunity.
We have secured coverage for our clients in a number of publications including The Times, FT Adviser and Enterprise Times. We also placed them within key publications read by the industry such as Crypto Coin News and Blockchain News.
When creating content, it shouldn't focus solely on the ICO, it should be centred on the solution that the project solves, and the challenges that the industry faces.
It is important not to overlook traditional media outlets. Whilst outlets devoted to blockchain and crypto are likely to pick-up press releases focused on the topic, traditional media can provide a business with access to the attention of investors who may be new to the crypto world but who are already engaged with prospective projects.
Social media should also be a focus and whilst business are unable to advertise their ICO on this platform, it is still an important platform to use for networking with influencers, investors and the media.
Ultimately, in order to raise awareness of a prospective ICO, businesses must be proactive, truthful and stay on message. More than anything, these factors will ensure companies are able to successfully raise awareness for their ICO in an increasingly challenging technological environment.