The Curious Art of ICO Advertising or How to Sell your Product
In my perspective, ICOs represent a fascinating microcosm within the crypto market. They epitomize the hopeful aspirations of their creators, largely translated into the blockchain arena. The manner in which they present their projects resembles works of art, spanning a spectrum from the most avant-garde and promising to the profoundly serious. I derive genuine satisfaction from analyzing and tracking their journey, starting from their inception through the post-ICO phase. It involves assessing whether their marketing aligns with the right trajectory and how well the project adapts to the community’s evolving needs.
For those of us well-versed in this market, ICOs bear a resemblance to a McDonald’s advertisement. Initially, we’re enticed by an enticing burger that promises a delectable dream, only to discover that the iconic “Big” Mac is hardly bigger than the size of your clenched fist (I’m referring to the European Big Mac, of course…). Nevertheless, our focus here is on how ICOs endeavor to distinguish themselves amidst the sea of competitors in this market, and why they employ repetitive strategies to achieve that.
How can you, in a single sentence, change the way people see an ICO?
When delving into ICO whitepapers, the recurring argument I encounter most frequently is the proclamation of being “The first crypto [insert your theme here]” or “The Biggest [insert your theme here] in the World,” and so on. The objective is clear: create a sense that we’re on the cusp of a revolutionary breakthrough, and missing out would be a lifetime regret. They assert that by being the pioneers in this market, they have a better chance of monopolizing it in the future, and since they are the first, investors are more likely to experience a substantial ROI. This often comes with an indirect claim of having no competition (which is statistically untrue for almost every ICO).
You might wonder why I’m emphasizing this point, but over my journey as a crypto writer and advisor, I’ve encountered numerous individuals, sometimes seasoned ones, who fall into the “innovation” trap. It appears promising at first glance but often leads to nowhere.
When analyzing an ICO’s whitepaper, the most critical factors are how the team is structured, how they articulate and approach the project, the feasibility of the idea, and how they intend to promote and execute it. From an investor’s perspective, it’s not solely about the idea but more about how effectively they convey and implement it.
These types of sentences aim to provide a single, straightforward reason to take an interest in and invest in the ICO. For instance, consider the first ICO in the world centered around providing medical data in exchange for tokens. Is it appealing because it’s a pioneering concept, or because it’s logically sound? Why should you invest in an ICO when the idea already exists but lacks the crypto dimension?
Being the first in something often becomes the primary selling point for such projects, but it’s also frequently a red flag. Investors understandably get excited when they encounter this magical word — “first.” It’s a simple, convenient rationale, and people tend to favor simplicity, which translates to greater accessibility, popularity, and a broader audience. Bitcoin holds the distinction of being the first and the originator of this market, and everyone aspires to replicate the early successes of Bitcoin’s early adopters.
To illustrate, winning a race against Usain Bolt at his peak would be remarkable, but accomplishing the same feat when he’s 80 years old wouldn’t carry the same significance. It’s still the same individual, but the conditions have changed. If an ICO enters a market too early, it should align with the right conditions, not when the potential market lacks competition. There’s usually a rationale behind why no one had the idea previously. In simpler terms, exercise discernment in selecting both what and who you target.
When encountering such arguments, it’s imperative to pose essential questions. Firstly, is it prudent to invest in a project when it’s not capturing much attention? Secondly, even if the underlying idea is commendable, how does the project intend to enhance the accessibility of its product? These are critical considerations.
Overcoming real-world challenges, especially during the ICO phase, constitutes the foremost hurdle for virtually every ICO I’ve encountered. In my extensive experience with hundreds of ICOs, I’ve observed that only a handful, if even that, managed to offer a product genuinely accessible to the mainstream public. When I speak of accessibility, I don’t merely refer to functionality. Rather, I mean the ability for non-crypto enthusiasts to discover and use these products, which is the ultimate aspiration of any crypto project.
If I were to impart advice to anyone contemplating an ICO, it would be to prioritize global accessibility for your project. Even if your product isn’t flawless, this focus on accessibility will place you ahead of most of your peers. After all, it leaves ample room for improvement, and progress is a valuable asset in itself.
The importance of colors and shapes.
To conclude this first part, I want to quickly talk about the importance of colors and shapes and their influences on you. Nowadays, websites allow more attention to the design of their webpages rather than the coherence of their projects. It’s nothing strange, since it’s the first thing you see. It’s usually the packaging that catches our attention before the content.
To captivate the attention of their visitors, they use the power of shapes and colors in a logical way. The way shapes and colors are blended is one of the most important aspects of a product. Whether it’s through a website, a video or an ad. It’s the first layer we see, and is the first challenge that every ICO must deal before advertising their ideas to the public. Each shape and colors have their own meanings, I will not introduce all of them, but I will quickly discuss the most important ones.
Circles are interpreted as positive, safe and relaxing. They also represent symbiosis, a living system. The poetic form of the human heart has this round aspect in order to communicate empathy. Squares represent stability, safety and firmness, or in other words, a serious and stable equilibrium. And finally triangles means power and danger, which is why many danger signs are shaped through a triangle. We could go deeper on the meaning of shapes but here are our three fundamentals. Let’s analyse quickly an ICO previously launched, Endor.
Endor presents itself with an understated yet impactful design characterized by a dark background, clean typography, and an array of rectangles. This aesthetic choice immediately conveys an aura of mystery, sobriety, and elegance. It’s a design that makes you curious before you even delve into the content.
Endor’s website aligns seamlessly with its core message. It’s not about creating the flashiest website; rather, it’s about crafting a platform that resonates with a targeted audience. This cohesiveness extends to their choice of color palette and the meticulous arrangement of elements.
Endor stands out by embracing a relatively original design concept, a path less trodden in the ICO landscape. Unfortunately, many ICOs miss this point and attempt to mimic the design of more successful counterparts. This tendency blurs the lines between legitimate projects and those of questionable intent, contributing to a generalized perception that all ICOs are alike.
While drawing inspiration from successful peers can be beneficial, there exists a fine line between inspiration and outright replication. Navigating this distinction is crucial. As the ICO space becomes increasingly saturated, it’s vital for CEOs to understand that impressing potential investors doesn’t solely rely on aesthetics. Instead, the focus should shift toward the usability of the project and how effectively it communicates its unique value proposition.
In a world inundated with ICOs, standing out is not about looking spectacular, but rather being memorable. CEOs should prioritize usability over extravagant advertising, particularly if they lack extensive resources. Remember, it’s not about reinventing the wheel; it’s about ensuring that your ICO is distinctive and leaves a lasting impression.
