Nimrod May, chief marketing officer of Sirin Labs, has shared his experience of conducting the initial coin offering (ICO) of the company. Speaking at the NEXT BLOCK Conference in Kiev, Ukraine, May stressed the importance of implementing the best ICO marketing practices. His tips are all the more relevant after Facebook and Google banned ICO and crypto ads.
Sirin Labs wants to release this October a smartphone with blockchain features and a built-in crypto wallet. May revealed that the company had held production-related talks with Foxconn, the manufacturer Apple uses for its iPhone.
Sirin Lab recently conducted its ICO, with May taking the lead role. The company raised over $157 million during its token sale, becoming responsible for one of the largest ICOs of 2018. On Thursday, we reported that Sirin Labs Token (SRN) was listed on New Zealand-based crypto exchange Cryptopia.
May said during the conference that startups conducting their ICOs had to focus on all three stages of the event – pre-sale, crowdsale, and post-sale. The last one is probably the most important because this is when one realizes what has been missed and what can go wrong.
According to the CMO, marketing is essential for any ICO. It is basically “trying to let everyone know the great things the team is doing.”
For successful marketing, a project should achieve perfect harmony in combining three different personages:
- The artist: This individual focuses on creativity and increases brand awareness and is the person who develops the right messages regarding the project.
- The psychologist: Arguably the most important contributor. If a team does not know the intimate desires and beliefs of its target audience, it will not succeed with the project. The psychologist should manipulate the audience towards desired actions like “get engaged in my community” or “invest in my company,” May says.
- The scientist: When you do an ICO, you need to invest a lot of money. The scientist is the person who measures everything to determine the ROI for every action you take.
According to May, the four key objectives of any ICO should be as follows:
- Call to Action
Sirin Labs’ ICO organizer revealed that the company tried to increase visibility by creating the right differentiation. We are exposed to about 5,000 ads every day, so it is crucial to be different and one step ahead of the competition. The company chose football legend Lionel Messi to endorse the project. It has also created an emotional commercial that is to air in October.
Other important aspects of an ICO marketing campaign are being transparent, honest, consistent, humble, and, last but not least, having a professionally done white paper.
NEXT BLOCK is an international blockchain and cryptocurrency conference that touches upon topics such as ICO trends, global regulation of cryptocurrencies, and the application of blockchain technology.
Earlier, BTCC co-founder Bobby Lee discussed Bitcoin and private keys.