ICOs are indeed quite hot among crypto investors. Lately, Hdac and Filecoin collected astounding amounts of $258 and $275 million. Owing to this, the number of ICO consulting firms diversified their service area so that they can offer an ideal combination of technical advice, legal counsel, marketing guidance and customer acquisition strategies.
Whether you are a startup or big company you are likely to come across plenty of Initial Coin Offering service providers. The fact is, everyone is vying for the business of your startup. However, there are still a few important factors which you should take into consideration before you hire the professional ICO development company:
1. Marketing Finesse
Numerous consultancy firms will be able to offer their own unique spin on your token marketing strategy. Depending upon their resources and skills, it may be the difference between reaching out to a few people and the better half of crypto community. It is imperative that the companies display how they will deliver your brand to the massive audience. With the effectiveness of token sale advertisements on the decline, any company offering advertising is actually not worth your time and efforts.
2. History of Working with Earlier ICOs
As you know already Initial Coin Offerings (ICOs) deal with huge amounts of money, probably in the range of millions of dollars so selecting a team with good amount of experience is always a fantastic idea with a relevant history of successful token launches. However, it does not matter whether or not the ICO development company has extensive legal or marketing experience outside the cryptocurrency ecosystem. The only relevant expertise they can bring to terms for your business is their successful history with successful Initial Coin Offerings.
3. Global Outreach
Provided that a certain percentage of most of the ICO investors come from Asian countries including Korea and China, it is essential for the ICO development company to build a local presence in these regions as well. Also, they should be able to provide you the basic essentials such as: transactions and contacts with local publications.
4. Social Media Proficiency
For the token to be propagated among the targeted audience effectively, an ICO consultancy company with a dedicated marketing team who understand the reach of platforms such as: BitcoinTalk, Reddit and Steemit could be your ultimate bet. In addition to this, if they also have an experience of setting up bounty programs, it could be an added bonus for you.
5. Handling Audits
Since your business will be generating a huge amount of revenue, your company will automatically be subject to any relevant local laws at the end of the ICO period. A vast arrival of capital through digital currencies at times raises red flags with a government inexperienced with ICOs. Bookkeeping services offered by an ICO Development Company is definitely quite worthy as it shifts the burden from you to the token experts.
6. Private Sales, Internal Websites
If you want to launch your token to a tiny group of investors prior to the public token sale, you’ll have to set up a proper infrastructure with whitelist capabilities. Moreover, promotional offers and bonuses will require a change in the token’s terms and conditions and similarly with the referral programs that are classified under the marketing umbrella. Automation of the entire sale, irrespective of who the investor is should be offered by the consultancy company you hire.
7. Whitepaper Assistance
For any blockchain based company issuing tokens through an ICO, it is important that they also publish a whitepaper on their website. Whitepaper is basically the document detailing the token economics, the role it plays in your company’s future platform and the modules of the whole operation. It represents a professional summary of your business model and for that reason; it is best to leave this important task to the ICO consultancy firm.
We strongly believe that cryptocurrencies are of immense value and our team of experts’ has developed a blockchain based decentralized platform which strives to streamline the crypto market. Being a result-driven ICO development company, we are all set to revolutionize the blockchain world.