The first important step to initiating security token marketing is to outline a solid plan and an effective marketing strategy. To create a plan and marketing strategy you need to understand the rules of cryptocurrencies. Due to certain government regulatory requirements cryptocurrencies have surfaced in the foreground for investment in Bitcoin-based start-ups.
In the year 2017, some digital currencies were declared to be securities by the SEC (the US Security and Money Exchange Agency). Your company needs to understand the basic of The Security Act and hire lawyer to comply with the regulatory needs to initiate security token marketing. The following section of the blog explains the essential procedure for setting up a security token market.
Steps of Setting up Security Token Marketing
Security token marketing involves steps that are similar to that of setting up a start-up. Here are the essential steps that you need to follow.
1. Formation of a Team
For a blockchain-based product and security token marketing, you need to create a team of experts who possess the required expertise in blockchain and cryptocurrency technologies. Some key partners are consultants, partners, sponsors, investors, and project creators.
On the other hand, these partners must have knowledge regarding these technologies and also know multiple languages. Additionally, make sure that each member of your company is dedicated and involved genuinely from consultants to other team members. Also, maintain transparency with team members’ identities.
Apart from these, you must be available to answer queries of investors via Skype, Slack, Hangout, Telegram, Whatsapp, and so on. You must also provide a clear explanation to the investors if withhold a portion of the token bid for any reason.
2. Understand Your Market
A project related to security tokens in the United States is still in the incipient stage. As a result, it is easier to make a unique niche in the market. If you want to launch a security token for ICO you must analyze certain factors like, what is the purpose of launching your product, what unique benefit it has to offer, who is your audience, and so on.
3. Give Primacy to Your Audience
Most investors or your audience is expected to know very little or nothing about cryptocurrencies. It is extremely new and complex for an armature to understand its technicalities. Many people might be interested to learn about cryptocurrencies and blockchain and make a fortune out of it. Thus, it is your responsibility to upload content on your website that can easily explain online cryptocurrencies and blockchain fundamentals to non-text-savvy people.
4. Identification of Potential Investors
Once you establish your business idea and become ready for the investors to invest you need to go out and share your ideas with potential investors. It involves educating potential investors, attending seminars on blockchain and cryptocurrency, and networking with people. It would also help you to understand whether your idea aligns with the interests of others or not. You can take notes so that you can make improvements if necessary.
Conclusion
The blog has explained the step-by-step approach to establishing your security toke marketing project. It requires a robust team of dedicated team with members expertise in cryptocurrency and blockchain technologies. You must upload insightful and comprehensive content on your website to educate potential investors on the technologies.
Also, explain how they would benefit from the investment. Visiting seminars and workshops on the topic would help you create valuable connections with potential investors. Additionally, you will also get to gain a new perspective that will help you to evaluate your project ideas.