In a recent webinar titled, “Ensure Successful Token Sale Amidst Rising Blockchain Enterprises in 2019”, Karnika E. Yashwant, ICO Marketing guru, gave a detailed overview of the necessary qualities for a startup token sale to be competitive in a market where blockchain enterprises are becoming more numerous.
Battling blockchain enterprises
The most important thing that startups need to strive for if they want to be competitive in an enterprise environment is to become enterprises themselves.
In his webinar, Mr. KEY emphasizes the importance of setting your focus right. According to him, one of the biggest mistakes startups make is they focus predominantly on developing their technology, rather than developing a functioning business.
For him, the goal of any startup about to go through a token sale should be to have a stable business model and not only a technological development to advertise. In essence, if a startup wants to compete with big blockchain enterprises, it should become an enterprise as well – with a clear business focus to guide its development.
Successful token sales need marketing
According to Mr. KEY, another of the core elements of a successful token sale is a good marketing plan.
Nowadays, there are thousands of outlets where startups can reach potential users and customers, which means that any new project will need a very detailed marketing strategy.
The main goals behind marketing are to first boost the number of active users of your token and platform and then to show these users that this is a product they can trust. A well-thought-out marketing strategy will include three different stages: pre-launch, launch, and post-launch campaigns.
Not only that, but new tokens also need to win different target audiences. To make sure a startup is covering all these audiences, marketing departments need to work on creating different campaigns. In the case of token sales, it is good to have one campaign for crypto-oriented users, and one campaign for traditional online users, who are not familiar with the technology and language behind cryptocurrencies.
Quality for users
While a startup may be preparing for a successful token sale, selling a quality product or service along with that token is essential.
There is a cycle of development in any business, and token sales are not different. In order to get revenue, which is the ultimate goal, a startup needs users. In order to keep its users satisfied, and with a desire to use the token again, the startup needs to offer a quality product.
Whether this will be a platform, an application for mobile phones, or any other materialization which utilizes the token, it needs to have value for customers.
Once all the key points mentioned above are covered, any aspiring startup has a better chance of going through a successful token sale.