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Let’s Talk Money: Budgets for PR and marketing

How to plan a communications part of an ICO budget? Let’s discuss.

So how much?

If you were looking for an exact number, sorry – we don’t have it. Even if you have a few months before the launch. Even if you have a precise media plan with all publications and media list. As soon as you are ready to crack on it, something goes not as planned. Prices for publications change almost weekly, and usually – to the north.

Once we had to redo our two-week old plan from scratch, as one media raised the prices 5x, another – 2x, and the third one placed us in a 3-week queue. Within a month, you might have to reconsider your channels – some stop working, some get banned, like the Chinese and South Korean listings.

A Word About Crypto Bloggers

Some industries build their complete marketing strategy on blogger outreach. For an ICO, bloggers can be used not just media, but as ambassadors and sellers of your tokens.

Why would a blogger sell my tokens?

Not every blogger will immediately take your side and urge subscribers to buy. Moreover, none of them will do it for free. But if you manage to engage at least one, it’s worth spending time and money.

How does it work?

Here is one real example: we paid a vlogger $100 for a YouTube video, got 1500 views, then engaged him in a bounty program and got another video with a similar number of views. Each video had a link in description – besides visibility, we got some clear leads and conversions. Then we gave the same vlogger a referral promo code – and he got us $5K in referral sales!

How do I get the same?

  1. Firstly, you need a killer pitch. Hooking up a blogger with your idea takes not just money (them, too), but your vision, appealing idea and a true belief in success.
  2. Quality, not quantity. Even if a blogger has only 100 subscribers now, that might turn into hundreds of thousands in a month – if a blogger has a potential. Newbies are also the most active and hungry.
  3. Talk to bloggers – and not just to pitch. Keep in touch, update on the project’s news and always – always – answer their questions

Ok, got it. How about a ballpark number for budget?

On average, PR and marketing budget for an ICO varies in the range of $100K – $500K, and that’s not the limit!

How do I plan?

  1. Wisely. Look at market average, but prioritize your own resources and goals.
  2. If you are limited in budget, focus on the most converting channels, even if they cover just dozens of people.
  3. Pick up a few projects which already completed a successful ICO – and reverse engineer their tactics.
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