2017/2018 will probably go down in history as one of the greatest periods in time to be an investor. I’m personally in awe of the gi-normous sums of money raised by some ICOs. Some notable investment opportunities I’m still kicking myself for missing out on include:
- NEO — $0.03 per token to 294,000% ROI
- Ethereum — $0.31 per token to 230,000%. ROI
- Spectrecoin —$0.001 per token to 64,000% ROI
- Stratis — $0.01 per token to 56,000% ROI
- Lisk — $0.076 per token to 19,080% ROI
But let’s get real. If you’re about to promote your first ICO it’s too easy to dream of success while forgetting about the massive failure rate. And it’s getting harder to attract investors because people are worried about being scammed. Not only that, there are thousands more ICOs to choose from than before.
This doesn’t mean you can’t still succeed. Here’s how to save a fortune in marketing expenses while reaching millions of people on the front page of the internet — Reddit
If You Build It, They Will Invest
If you’ve already launched an ICO you probably know that marketing is the most expensive part of the process — mainly because of the sheer volume of marketing that must be done. According one CEO, “There’s a whole industry built around marketing ICOs. Expenses like road shows, a website, whitepaper, rating sites, telegram support or web chat support can make it difficult to get your ICO off the ground.”
“You could easily spend a million dollars on marketing.”
Konstantin Dimitrov, CEO, Dice.Money
While some marketing tactics like ICO listings, paid advertising, PR, media outreach and bounty programs can create top-of-mind awareness — they don’t create engagement. Engagement takes content like the blogs Vitalik Buterin wrote before launching Ethereum. It’s the holy grail of marketing and much harder to achieve than top-of-mind awareness.
Engagement started out as an idea from French philosopher Jean-Paul Sarte. According to him, it’s all about individual social responsibility. In other words, people become engaged in your ICO when you touch them where they live. But how do you combine mass marketing with one-to-one engagement?
Get on the Frontpage on the Internet
Over the past few years, social news website Reddit has become one of the most popular and powerful sites on the web. It gets over 56 million daily visitors! Unlike Google or Facebook, Reddit’s success comes from being decentralized. Anyone can create their own community (subreddit), with its own rules and subject matter. It only makes sense to use a decentralized forum to promote your new blockchain solution.
Reddit invented the idea of the AMA, which means “Ask Me Anything.” This is basically just a trendy term used to describe a forum-based call-in event where anyone can ask the host questions. While AMAs from celebrities and high-profile individuals like Barrack Obama and Bill Gates get the most attention, you don’t have to be famous to host one.
How to Create Your Own Crowd
Want to create your own social media crowd? You can avoid disappointment by starting with the assumption no one’s heard of you — because possibly few have. You must create a foundation of gravitational force for your startup by explaining what you do and why that matters.
A Reddit AMA gives you unlimited opportunity to build your reputation with authenticity. You can increase your crowd by promoting your AMA with press releases, blogs and other compelling content on Subreddits — there are around 1.2M of them.
No one cares what you know — until they know that you care.
Your event will be a success when curious people start asking thought provoking questions about your ICO. There will always be spammers and off-topic comments, but these can be managed with Reddit moderation tools.
During the event it’s probably a good idea not to post huge blocks of copy for people to read. It’s supposed to be a conversation. Your focus should be on getting people talking. Remember, no one cares what you know — ‘till they know that you care.
Like a successful talk show, a successful AMA will lead attendees deeper into the conversation for more insightful Q & A. And if things go well — you’ll be the talk of the town!
You could add more detail to your answers later or even re-direct attendees to your own Subreddit. There’s no reason for your AMA to end there because Reddit will keep sending your notifications of new comments.
Create Your Own Subreddit
The advantage of holding an AMA in a popular Subreddit is that you can instantly reach a enormous audience. Some Subreddits have millions of members. But if you’re going to post lots of detailed answers to people’s questions, why not create your own Subreddit? Here are a few features and benefits of managing your own Reddit forum:
- Create your own Subreddit topic/purpose and name
- Develop a compelling description that hooks people into subscribing
- Build value by creating sidebar links to other useful websites
- List your rules to keep the conversation on track and reduce spam
- Create a customized header to set the mood
- Assign content restrictions if necessary such as text only text posts or no images allowed
- Use Moderator Admin tools (manage spam, check stats, add moderators, and other tasks)
Start Reddit Crowdsourcing
It’s getting harder to stand out among all the thousands of ICOs vying for an investor’s attention. Trying to shout louder in an over-crowded market will cost you a fortune in marketing expenses.
“If you need the hype machine to sustain your ICO isn’t it doomed to fail anyway?”
Instead, use Reddit as the inbound marketing solution for your ICO. You can go to where the people are who’ll be interested and engage with them — millions of them! If things work out, you’ll be the talk of the town. Then you can take your Reddit campaign to the next level by creating your own Subreddit .
Finally, if you need the hype machine to sustain your ICO isn’t it doomed to fail anyway? And if you don’t need the hype, why not save yourself a lot of money by creating your own engaged crowd?
About the Author
Derek Little is a copywriter and marketing consultant specializing in Blockchain. He writes interview articles of CEO/founders and uses these to arrange Reddit AMA events. In addition, he writes Press Releases, Articles, Blogs, White papers and Video scripts. Visit Derek’s Subreddit at BlockchainTrailblzrs. For details contact him at firstname.lastname@example.org.