Tips for your Bounty Program
Here are my top tips for your bounty program, everybody’s favourite part of the ICO marketing strategy. People from all over the world get involved in your bounty program and sign up to receive free tokens from your ICO/ITO*. Whilst it sounds amazing from a brand recognition perspective, you are giving away freebies. Unless you nail this from the outset you can end up with thousands of irrelevant “bounty hunters” who offer no value at all.
“Don’t facilitate this!”
Nearly every ICO marketing campaign will include a bounty program. It’s the easiest way to get visibility and interaction with your project during your ICO marketing campaign. But don’t take this lightly. Having people registered to receive your tokens upon completion of your bounty program is one ambition. Having users for your platform is quite another.
*provided you list them on the relevant ICO websites
Have a bounty program strategy
You must have a bounty strategy and this is the first of my top tips for your bounty program. Think about getting users for your platform, social media user-generated content, social media community managers and confirmed investors. But there are a number of things to cover, therefore, just what should you aim to achieve through your bounty program?
Get Platform Engagement
Running a pre-ICO bounty programme is amongst other things, the best opportunity to raise the profile of your ICO marketing campaign. You raise the profile, gain recognition and traction of your token or coin from registered recipients of your free distribution.
To do this you can register your bounty campaign on a number of free to list websites.
However, you should ensure that all tokens issued are collected using the platform you’re developing once you complete the ICO. Traction and registered users of your platform make it a much better looking investment opportunity for investors.
Get Social Media Managers
One of the things most ICO marketing campaigns suffer from is the capability to be multilingual. Relying on Google translate or a similar platform may get you by, but it isn’t perfect and crypto investors love perfection.
Generally, bounty programs are written and published in English. However, the recent trend is to offer bonus tokens for those with native languages other than English or translation services. You offer bonus tokens to translate the bounty and to run the social media channel for that domicile. This enables you to reward the community to represent and engage with your brand the second of my top tips for your bounty program.
Social Media Outputs
The third of my top tips for your bounty program is to reward your community to boost your social media outputs on your behalf.
Distributing tokens for:
- Join the telegram group
- Tweeting positively and @yourcompany in the tweet
- Making a Youtube video promoting your ICO
- Signing up to your Facebook Page and posting positive messages
- Following your Linkedin company page
- Making Pinterest graphics and tagging your company
- Managing local dialect communications (community managing)
This is an opportunity to get those seeking free tokens and coins to commit to additional bonuses for committing to purchase tokens in the full ICO. This would be different from the bonuses offered in the private sale (or could be linked) the pre-ICO or the full ICO marketing campaign.
In addition to getting the social media and users, you can get an understanding of who pledges what Etherium or Bitcoin. If you add this to the bounty program you can see how your investment figures look from a very early stage.
This is the fourth of my top tips for your bounty program.
Regional Blocking for “Bounty Hunters”
One of the final things I will offer in my top tips for your bounty program is to block certain regions from participating in your campaign.
There are a few reasons to do this, the first due to the legalities of ICO or ITO events in that country. They are banned in the following countries:
For a fuller breakdown of regulatory environments, please read on here.
Having anyone and everyone register for your bounty program skews the numbers and attracts people looking for a quick buck. They are solely hoping your token or coin has good market value post-ICO and can then sell out. This could actually prove detrimental and show a bear run on the value.
As an ICO advisor, I want the best for my clients. I want them to look into this fundraising as a whole and choose wisely for best results. Giving away free tokens or coins for users and adopters of your platform makes sense. Giving them away to bounty hunters for no reason other than showing a high number of owners is the wrong thing to do.
The bounty program can also be used post-ICO to help you garner further information about flaws and bugs, commonly referred to as a bug bounty. You pay more free tokens and coins to your community for them to keep an eye out for things to fix.
ICO Marketing Campaigns
So, they were my top tips for your bounty program. Knowing what to do is now a little clearer but you will need a platform to manage things like KYC and AML. As well as create smart contracts and manage your lists of registered recipients of your tokens.
Our platform enables you to manage the ICO marketing campaigns in one place. You can run bounty programs, private sale, pre and post ICO campaigns from the one dashboard. You can also generate your ERC20 tokens, it’s a full-service platform.