Since Bitcoin was first introduced back in 2009, the frequently misunderstood world of cryptocurrencies has exploded into the mainstream. There are now over 800 different types of cryptocurrency out there and with bizarre currency names such as “Psilocybin” and “The Vegan Initiative” floating around, it’s hard not to pay attention to the crypto market.
Indeed, with Bitcoin breaking records it seems the gold rush to uncover high returns is set to continue for a long time to come – but what’s fuelling the development of new cryptocurrencies? Well, that comes down to ICOs – lots and lots of ICOs. The question now remains; what is an ICO and why is content marketing for ICOs important?
What is an ICO?
One of the first things you need to know is that ICO stands for Initial Coin Offering. Essentially, an ICO is a clever fundraising tool in which a company attracts investors by trading future cryptocoins in exchange for cryptocurrencies of immediate, liquid value – usually Bitcoin or Ethereum. If the new cryptocurrency succeeds in the crypto market and appreciates in value – the investor makes a profit.
ICOs are popular both with companies looking to make money for an associated start-up project and investors searching for the next big crypto score. Although they are a relatively new concept, technologists believe they will become increasingly prevalent in the not so distant future as more determined start-ups look into the benefits of crypto as a source of crowdfunding.
Successfully marketing an ICO can be both challenging and rewarding. There are lots of things to consider, so what are the main challenges and how can they be overcome?
Marketing Challenge 1: Confusion
The cryptocurrency world is largely shrouded in confusion. While some people have a thorough understanding of crypto, others don’t understand the difference between Bitcoin and the Blockchain.
The good news is; a well-executed content marketing strategy will make crypto easier to understand. Clear, concise communication is of paramount importance if you want people to grasp the whole crypto and ICO idea – so here are a few things you can try.
- Explainer blogs
- Informative articles
- Insightful infographics
- Compelling video content
- Updated web content
- Social media posts
Marketing Challenge 2: Tailoring Content
If you are talking to people with a breadth of digital currency knowledge, the aim is to market your ICO clearly without dumbing down your content so much that it looks amateurish or insulting. On the other hand, if you are communicating to people who are relatively new to the crypto world, it’s important to support the interests and experiences of your target audience.
Preparing and tailoring content that speaks to both sides of the spectrum is crucial – and with a strong content team behind you, this should be a walk in the park. As a rule, always streamline your PR and marketing materials so that you convey the same messages and avoid backlash.
Marketing Challenge 3: Compliance
Marketing is full of challenges, but when it comes to the finance sector, there’s no messing around. You absolutely don’t have a free reign when it comes to talking about cryptocurrencies and ICOs, so it’s essential to know what could leave you in trouble with regulatory giants such as CySEC, MiFID, the FCA and FSA. In order to get content for crypto right, you must:
- Be transparent. Disclose all facts and don’t make misleading statements
- Do not make promises or guarantees and never make recommendations
- Avoid discussing specific investment products without disclosure statements
- Keep up with the latest advice such as that issued by MiFID II
- Learn the rules; some digital coins are actually ‘securities’, which are governed by a host of strict rules and regulations. Seeking legal advice is advisable.
If your ICO content marketing campaign is honest, transparent and to the point, you should stay on the right side of the law. Aim to be as factual as possible and explain the concept of your ICO. While giving data to demonstrate the value of investing in your company is usually OK, stating that your ICO will deliver high returns is absolutely not OK and may land you with more than a slap on your wrist.
Charlotte is a British writer and content marketing thought leader specialising in dynamic branding, social media marketing and content engagement. Responsible for a number of high profile brands and with 500+ articles published, her success lies within her originality, humour and hands on experience of the digital marketing world. Owner of www.charlisays.com and agency director atwww.contentworks.agency.