Marketing for an ICO or Initial Coin Offering, is unchartered territories for many, bringing with it a whole new meaning to the term “digital marketing”. For these new technologies, there are few marketing specialists. There are more than 1,000 cryptocurrencies currently listed on CoinMarketCap with new startups launching daily, so one needs to find their point of difference to stand out from the growing pool of cryptocurrency startups.
Needless to say, marketing to bitcoin investors is not akin to marketing other products or services. The audience is far more nuanced, diverse and skeptical, and the marketing tools and strategies will not be your typical Facebook promotions or billboard advertisements. Rather, your White Paper, the marketing medium of choice for the burgeoning cryptocurrency industry, will be the critical marketing tool. It will be the mouthpiece of your company and the central marketing tool that will instantly gain or undermine your credibility. The importance of how you draft your White Paper and how to distribute it to investor bases can determine the success of your ICO.
White Paper is prepared and ready to be published – now what? Translate it!
The second vital action is translating your White Paper. Presenting your White Paper in key languages will give you invaluable access to new markets and investor bases. You’d be well advised to concentrate your expansion to countries or regions with the largest ‘crypto communities’. Most of the crypto companies that are undergoing a successful token sale say that Russia, Korea, and Japan are all countries with a high concentration of crypto users. The biggest ICO to date came from Russia a huge amount of people in Korea invest in crypto. The early and high levels of ‘buy-in’ to crypto in Korea is perhaps attributable to the advanced social and technological development of mobile payments as well as the government’s attitude towards cryptocurrency, which has been relatively supportive of it. Japan is a hot crypto region with official licenses recently introduced. Europe has not progressed as quickly in crypto compared to Asian countries but Germany has recently passed laws on bitcoins futures. Australia also should be considered as a potential investor base, with the ASX the first exchange to use bitcoin technology for clearing and custody.
Where does China sit in the cryptocurrency world?
From an official point of view, China is very against cryptocurrencies and the Chinese government has prohibited its citizens from investing in crypto companies. However, there still remains a significant Chinese population that are native Chinese speakers while holding foreign passports, so one should not overlook the benefit of translating your White Paper to Chinese. China is a country that is rapidly developing, extremely QR code and mobile payment savvy, and home to a large population of early adopters; if not for the government prohibitions, China would arguably be the ‘perfect’ crypto investor base and the place to market to. On one hand, Asian people are betting people. People are more likely to take risks in China than any other country, said one of the CEO of a recently public ICO startup in Singapore, who is also a native Chinese.
Regardless of the region, the world over one will find risk-takers keen to invest. Investing time, creativity and language support to your White Paper is one critical marketing move that crypto or blockchain startups cannot afford to miss.
- There are unique strategies to marketing your ICO or Token Sale; ICO and crypto marketing is a new and dynamic field
- Your White Paper is your key to reaching and connecting with your potential investors
- Translate your White Paper (and website) to reach the full potential of your investor base. The most sought-after languages crypto startups are translating to include:
HI-COM can assist you to increase the potential for profit from your ICO with specialized ICO translation services. We are a comprehensive translation and localization service based in Shanghai. We regularly work with around 35 language pairs and have translated over 500,000 words for ICO and Blockchain industry into Chinese, Russian, Korean, Japanese and others. HI-COM has previously assisted a number of well-known companies with their ICO white papers and ICO marketing materials, including BehaviourExchange, BANCA, VUULR, Taurus Coin and Datum.
To contact Hi-COM please email to: email@example.com