IDO or Initial DEX Offering is one of the most trending crypto terms at the moment. You may have come across this term on video and blog titles that claim to share how putting money in an IDO gave them superb returns. So, let us first find out all about IDOs and why they are making the rounds in recent times before we move on to IDO marketing plans.
Table of Contents
What is an IDO?
IDO stands for Initial DEX Offerings. It is an innovative fundraising technique that is known for its enhanced liquidity of crypto assets. IDOs are also quicker to execute, transparent and fair. In simple words, a project launches an IDO while introducing a new coin or token through a decentralized liquidity exchange.
So, when an individual invests in an IDO, they get to lay their hands on new tokens while they are still under generation. Of course, they have to put in some funds for that. IDOs are known to be affordable and offer simple token distribution, which does not favor pre-miners over other members of the community.
Blockwiz has assisted 160+ clients from the Blockchain and DeFi arena with their marketing and promotion. We have helped our client, SugarBounce witness a staggering number of 50K new members make their IDO launch a hit event. By capitalizing on the right time, audiences’ attention and backed by strategic marketing actions, we made sure that the client’s IDO was sold out in minutes from the launch.
Alt text: Blockwiz’s coverage of SugarBouce’s IDO that sold out within minutes
What Makes IDO Different From ICO and IEO?
ICO is Initial Coin Offering. It was a hit in around 2017 when projects offered a section of their crypto supply to the general public. ICOs did a good job at fundraising and the ICO market grew by an impressive $4.9 billion by the end of the year. However, ICOs quickly got a bad reputation due to scams. Thus, the crypto space moved forward to IEOs.
Initial exchange Offerings or IEOs came around to fill the loopholes of ICOs. IEOs were launched on centralized exchanges that maintained strict security standards to prevent scams. The rules to qualify for IEOs were also firmly established which filtered suspicious projects from getting listed. These kinds of centralized listings enhanced the general trust of the investors. The crypto space greatly benefitted from IEOs and brought about successful blockchain names like Polygon and Elrond.
However, soon the hassles of centralized listings became overbearing. Hence, IDOs became an instant hit as it introduced decentralized operations. There are many IDOs that provide custom services for new projects which is another advantage.
So now we know why discussions on IDO have been dominant in the crypto space. Let us find out how an IDO marketing plan can help crypto projects.
4 Irresistible Advantages of IDO Marketing Plan
Marketing is essential to attract better product visibility and get the right value. Even the crypto space requires it. Offering tokens through a decentralized platform may not be enough to raise enough funds. Crypto projects must ensure that it reaches the right audience to enjoy good investments.
Here are 4 advantages of IDO marketing that you cannot ignore:
Get Funding for Your Project
Getting funds is the core focus for an IDO. The right IDO marketing plans can help the project land at the appropriate place. This will pull in key players and investors to the project. A tailored marketing strategy can reach out to every demography and make the IDO a successful crowdfunding campaign.
Acquire More Users
Acquiring new users is one of the biggest challenges for any project at its initial stage. IDO marketing plans can bring attention to the target audience in less time and boost the inflow of funds. Such steps also add to the long-term user base and help keep the traction intact.
Build A Loyal Audience Base
Building a loyal audience needs consistent efforts. Even after the IDO phase is over, you will need a bankable audience to maintain a high-value crypto project. We know that this industry capitalizes on reputation and only a loyal audience can help you sustain a spotless reputation.
Understand The Market Better
An IDO marketing plan is an excellent tool to know the market inside out. These data-driven marketing strategies can provide insights to customer behavior. The more people you will get, you will be able to form a sound understanding of the market. This way, you can even plan out improved products and services for the future that addresses their concern.
Let’s move on to the most important and interesting part where we find out which strategies work the best for IDO marketing.
7 IDO Marketing Strategies That Will Make You Stand Out
There are several marketing strategies that agencies may pitch for IDO. However, it is important to remember that the crypto space is extremely dynamic. Hence, conventional marketing may not be the best way to go.
Here are some effective IDO-specific marketing strategies that can help your project stand out:
Crypto influencer marketing is one of the most popular IDO marketing strategies. Crypto influencers are present on multiple social media channels like Discord, Twitter, Instagram and YouTube. Projects can collaborate with them and bring out specific IDO-centric content in various formats to target a wider audience.
Influencers can help you get visibility from users who may not figure out your target audience. Their reach is such that they can even convince someone to find out about the project even if they do not have much knowledge about the project. In any case, your visibility will be boosted and even if every visitor may not convert into an investor, you can still enjoy enhanced traffic and visibility.
White Paper Marketing
White papers are very effective marketing tools to further the interest of investors through an in-depth analysis. Crypto projects can bring out white papers that are in document format to further the project’s foundation and goals. These documents can subtly market the purpose that drives the project and offer greater clarity with data prediction.
White papers have an academic edge to them. Hence, they are ideal to onboard those who are not very aware about the industry. This content marketing tool is also excellent to offer general education and boost confidence in the IDO.
Press releases are also an excellent marketing tool to communicate with the audience as a brand. However, it is crucial to find out the appropriate publication that will go with the crypto project. The timing of the communication and its structure should also be aligned with the IDO’s purpose and should be written with the tonality relevant for the target audience.
Crypto projects can partner with influencers across different channels to bring the crypto community together. Giveaways, airdrops and AMAs are excellent to drive the communication about an upcoming IDO and get the audiences’ attention. It is essential that such community activities are well-thought out in advance to keep the brand name intact and avoid miscommunication.
Social Media Buzz
We know how social media has been playing a vital role in the crypto space. Tweets by famous crypto influencers have driven the prices of different coins up and down. This kind of buzz helps keep the interest of the audience alive. For IDOs, social media influencers can create bite-sized content, memes or videos to engage the audience in a fun and interactive way. However, even here the project must be aware about the kind of content that will go out as it has to be in sync with the brand image.
Reaching Out to Investors
Crypto projects can identify the right individuals who have a knack for innovation and technology. Such individuals are always on the lookout for investment opportunities. IDOs are a perfect choice for them. These investors are usually enthusiastic to make heavier investments. Crypto projects can reach out to such leads and onboard them with the right negotiation and marketing skills to get more funds.
Did you know that email engagements went up by 78% for marketers in the last 12 months? Emails are still the go-to method for communication when it comes to doing business and investments. Millennials are known to prefer email communication more when it involves money matters. Hence, an ideal IDO marketing plan cannot leave out email marketing. Email newsletters can be a powerful tool to spark interest about an upcoming IDO. They can also be used to follow-up with leads to witness successful investments.
We understand that with a hundred things on your mind, chalking out a powerful IDO strategy can seem like an intimidating task. Hence, it is best to leave it to industry experts who can provide appropriate solutions to achieve the results in a short time.
If you are worried about your upcoming IDO marketing, then you are at the right place. Blockwiz provides bespoke IDO marketing services that will help you get the maximum funding and visibility. Get in touch with our experts today to take this ahead.