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The ICO views as a Marketing tool for companies

The ICO views as a Marketing tool for companies

4/1/2019 10:56:36 PM   |   Comments: 0   |   Views: 112

As a financial tool for blockchain companies, ICO has already begun to lose popularity in its original form. Increasingly, however, non-cryptographic economy companies reflect on the idea of raising money through an ICO. But, when it comes to that, these companies do not have the knowledge or the will to change their business processes to the blockchain. Then the question arises, what would an ICO do for these companies? Would it be just a tool to raise funds, or maybe something else? This is a very interesting position,

Lately, many of these companies of the "traditional" economy have approached the experts in search of queries about the main requirements to start an ICO. Although it is not easy to give an answer, the consulting company, and all the work team can be busy with their own ICO and product development, you have to find the time to talk with these people and give some advice on the mechanism of ICO and blockchain technology.

Increasingly, in these conversations, we are talking to the leaders of highly innovative companies, which have quite popular products. Of course, the main thing of their interests is to offer some kind of tokenized values. In business, the most understood practice is to offer a part of the company or a part of the profits. These companies want to use the ICO as an IPO. Instead, we recommend creating a token that is connected to the Airdrops, instead of the company.

In the course of these discussions, during which we recommend that it is better to connect the token with the product, we have gradually arrived at a new idea, an interesting model for the use of the ICO, which has already been applied several times to traditional companies.

The idea is this: given that these companies have already started production, they have determined who the public is for their products and, as they seek to increase sales, they must be prepared to offer discounts for the products. We believe that a great idea for these companies would be to sell tokens at 5-10% of the market price of the product, and offer all the token holders a discount on the actual product of around 50%. Then, if the product costs 100 USD, the token would cost 5-10 USD, and the token would therefore give its owners the right to buy the product for 50 USD.

We believe that this can really be an effective strategy to increase sales. The product is already finished, and beyond the R & D phase. Even with the big discount, benefits will still be obtained, especially since the product is ready to be delivered at any time. In addition, during the ICO there will be no reason to go through a security deposit, since the company has already demonstrated its concept and its reliability for a long time. The funds collected during said ICO will be available for reinvestment in the global commercialization of the product and the promotion of the ICO.

By carrying out the ICO process in this way, the company will see an increase in the demand for the product, a broader marketing, as well as a great boost in the media, as is typical when ICO occurs. New advertising can lead to new strategic alliances for the company and even greater growth in the future. While the ICO only focused on the product, the attention will gradually go to the company, and resources will be obtained that can help produce new products or improve existing ones.

When we take a step back to observe performance, we can see that, when companies make good use of ICO as a tool, it can bring great benefits for the business. However, these benefits are not directly related to the blockchain. It has more to do with marketing and media attention.

In short, this use of ICO is encouraged since, in most cases, when these traditional companies use ICO as a tool, they are developing the infrastructure that will finally allow the interaction of cryptographic and traditional economies. That ICOs will become part of the economy as a whole is a fact. It's just a matter of time.

In summary, this is a new way to see the utility that can be obtained from ICO, to increase sales in consolidated companies, it is a matter of time to appreciate the benefits of blockchain technology. It is waiting for new announcements.

Category: marketing tool
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