Cryptocurrency continues to become more mainstream as time goes by. As such, during new token launches for new projects, maintaining an effective marketing strategy helps you set yourself apart from the competition. Marketing for the crypto and blockchain industry has different tenets from the rest due to high market volatility and the recent crypto crash.
Despite such issues, you can still get your marketing done right. We provide you with ways you can market a new token launch.
What is a Token Launch?
A token launch is necessarily transactions embarked on by a company before they sell tokens to the public. They sell them as part of a public product launch. A private entity issue tokens for a particular reason. They are created by cryptocurrency companies that aim at raising money.
Token launches are essential for a project as they help gain publicity and engagement within the crypto communities, which ultimately helps raise funds and interest for the project’s future. How you pull off your token launch impeccably dictates whether or not your project will have funds to grow or be doomed before it starts.
Understanding how to pull them off becomes an important task, whether you are a founder, marketer, or undertaking a different role in the project. We emphasize that token launches make or break projects.
What does Marketing do for a Token Launch?
- Marketing a new token launch builds on community reputation, which starts before the launch and continues after, boosting your marketing efforts.
- Marketing brings on collaborations and endorsements. Marketing helps you land the right partnerships for your project.
- Marketing a launch brings on the visibility of your project, with the aspect of YOTLO (You Inly Token Launch Once).
New Token Launch Marketing Strategies
Some ways can help your marketing strategy and make your brand go viral. Here are some of the top crypto marketing strategies you may use to get ahead of the competition.
1. Build and Interact with Your Community
You should not always undervalue the essentiality of having a strong community. Therefore, building and interacting with your community before launch becomes important. Engaging entails the process of making sure that you create an environment and communicate with people as much as possible. As a result, you have ways that you can be able to address the concerns of the community members.
For most new token launches, you should be able to take on the challenge of the community members, to be always available at any time. This becomes a way of showing care and concern for the community. You should be able to be as transparent as possible and accept suggestions and criticisms, mostly regarding dates and roadmaps.
Ensuring trust within the community is a proper marketing strategy. This is because the community may be able to look forward to engaging with a well-stipulated project.
They may also want to motivate other people to spread the word. One way you may do this is by creating a referral program that rewards current members when they bring in new members. Just doing this may be a problem as some of your members may bring in new members indiscriminately just for rewards.
Therefore, aim to motivate members internally instead of just offering financial incentives.
2. Create a Hype
Hype is a crucial marketing move in the crypto community and is one strategy you must undertake, regardless of its kind. It is one way of encouraging more people to join your community.
One way to make your hype effective is by raising people’s feelings of FOMO (fear of missing out). You can do this by preparing special offers, deadlines, and more. The most appropriate time to create hype around your project may be before the pre-sale period.
It is crucial to note that all hypes are temporary. As such, it may die out after a while, but it may at least form some foundation for your project.
3. Mobilize Social Networks
Social media forms an important base for any project for every digital marketing campaign. Some such accounts may include accounts for prominent platforms like Facebook, Twitter, Reddit, Telegram, Discord, etc. Having such social networks helps you have a wider audience, which helps you keep them updated with anything that happens with your project.
As such, it may require you to post updates, news, milestones, and the like. Apart from communicating, your social networks may help you create a brand you envision for your project.
4. Do Airdrops
Aidropping comes as a way of providing incentives for community growth. Doing token airdrops comes as a way of gifting random lucky winners. Ultimately, it helps your project gain more support for your project from different audiences. As a result, it motivates community members to become more active and take on more tasks.
5. Team up With Influencers
Influencers are a big thing in cryptocurrency, and you should utilize them if you want your project to succeed. Influencers are an important factor as they provide a longer lifespan to a crypto project. Influencers have a higher ROI on your crypto project, so you should also allocate more to your influencer marketing budget.
Influencers on Crypto Twitter are mostly the most trusted in the ecosystem than traditional paid media. An influencer’s choice depends on factors such as the number of followers on their platforms and the influence they bring. Other crypto avenues for marketing can be YouTube and Instagram.
Lastly, another platform is Telegram which has become the default communication tool for many crypto users. Reaching out to Telegram accounts specializing in crypto is a great marketing strategy that is cost-efficient in most cases.
Marketing plays a vital role in the success of a new token launch. Building and engaging with a strong community, creating hype, mobilizing social networks, conducting airdrops, and teaming up with influencers are effective strategies to set your project apart and gain visibility.
Implementing such marketing tactics increases the chances of a successful token launch and establishes a strong foundation for your project’s future growth in the competitive cryptocurrency market.
Vincent Munene is a freelance writer and a great blockchain enthusiast. Blockchain has changed his life in terms of financial freedom and in return, he likes to educate people and keep them up to date on everything blockchain. He is a Biochemist by profession and also loves to play the piano.