Whatever the reason for launching a new crypto project or giving your business the required oomph, it may not see the light of day if your strategy is not up to standard. And this is not dependent on the brilliance of the idea. A simple feasibility study gone wrong is all it takes to prevent a perfectly formulated idea from lifting off. This is why we give you our “Top 5 Tips” for launching your project.
What are the things to consider before embarking on your journey? Well, let’s find out.
Get Yourself A Team
The very first of our Top 5 Tips is ensuring your project comes to fruition depends on many factors, the chief of which is having a dependable team. Having a detailed calendar outlining set milestones enables investors to keep track of the project and know when it’s time for the ICO launch. A lax team will fail to meet several of these milestones, which will result in changes. Multiple changes in the schedule may cause investors to lose interest and doubt the credibility of the project.
For this reason, you must assemble a compact team that is more than just an assemblage of individual talents. Many communities are home to ICO experts; go over your plans with them for better idea refinement and evaluate feasibility.
Know Where to Launch
The country from which your project originated is particularly crucial in scaling successfully. Countries differ on crypto and ICO (initial coin offering) regulations and policies, more so with the severity and sheer volume of ICO scams to increase the internet in the last couple of years. In the United States, ICOs come under a lot of scrutinies. They are subject to the commands of the security exchange commission (SEC).
In consequence, you have to abide by their rules and tune your project accordingly. Changing critical aspects of your project to fit in may defeat the idea of decentralization. You should consider countries with less ICO restrictions like Hong Kong, Singapore, and the Cayman Islands.
Know Your Audience
Knowing your audience allows you to modify your content accordingly, providing a better and custom user experience across the board. It also serves as a guiding light to know the appropriate channels to dispense any info or content.
If you want to make your crypto project known to crypto enthusiasts, you can publish your content on Steemit or Publish0x. Here, there’s no need to simplify the technical terms in the content so much as you would with newbies.
But if you are looking to reach out to people who just started showing interest in cryptocurrency, target ads and sponsored posts on Facebook, Twitter, and Instagram will do just fine. However, you’ll need to explain what your project is all about in plain and simple terms. This tip is integral in intimating the public on where you intend to take them with your project. It also ensures you are not communicating amiss.
Build A Community
Another of our Top 5 Tips is to consider building a community or inserting your project into pre-existing communities to cause and maintain the hype. Marketing is all about being seen (and, of course, ingenuity and product quality). In essence, you must utilize the traction prowess of every platform possible.
While most launches succeed due to massive following on Facebook, Twitter, and Telegram, or any of the three, it’ll be unwise to overlook platforms like Reddit, GitHub, and Slack built like forums. Make your team and product’s unique value proposition known on these platforms. This shows the humanness of the project.
What Happens After Launch?
A successful launch does not indicate your work is done or your project is now failureproof. The period after successfully launching your crypto project/ICO is when your team should work the hardest. Now more than ever, you have to maintain multiple communication channels and go full-scale on marketing.
Now is the time for bounty campaigns, PR proper, press releases, and social media ads. If done well, these strategies will direct the needed attention your way. Sometimes there’s the promise of a buy-back and token burning as they hint at a possible increase in valuation by driving up scarcity.
Final Thought
The top 5 tips mentioned above are not exhaustive of the whole process. As such, it is advised you make in-depth inquiries to appraise the situation and know what necessities you may be lacking. While your ultimate goal may be to have your token listed on an exchange, you need to start from the essential element: ensuring your project solves a never-been-solved problem or solve a problem more efficiently.
The integration of blockchain technology into already existing solutions has been nothing less than erratic. And the steady growth can be viewed as a consequence of increased global crypto adoption, a massive 880% according to a report by Chainalysis in 2021.
Like every business, to successfully stay afloat and achieve longevity, you have to change with the tide and modernize your solution. Either by making it infinitely scalable, trustless, or more secure. Any one of these changes can significantly tip the odds in your favor, and that’s what businesses aim for—better odds.
Contact us at Latitude for a professional hand that can help in launching your project successfully.