If you are thinking of crowdfunding, or crowdsourcing for funds, then you already have a picture of a bunch of different communities you need to reach out to who might be interested in your campaign. With cryptocurrency, your target audience is surely scattered around many parts of the world and is comprised of different businesses in various fields.
In ICO, Community management is a process of building relationships with your potential investors and resolve their queries in public community. The main role of community management is to employ tactical and technical strategies to avoid the tragedy of the commons and to make sure a campaign is successful and sustainable.
Apart from this, if done correctly, community management can also help ICOs to increase the investments to the project by using correct marketing approach.
Importance of Community Management in ICO
An Initial Coin Offering is a big thing, is it not? Whether it is a new business you are trying to raise funds for or other big projects you’re vying to build, so much could be at stake for a mismanagement of your channels of communication.
In the world of cyberspace, the right audience for you are found in different time zones and locations around the world, and managing an updated flow of the latest information can be difficult to do just by yourself. You will need a team of dedicated community managers to promptly answer questions and overcome any issues that may arise during your campaign in order to maintain the trust of your potential investors.
Essentially, what you want for your ICO to be successful is a handful of experts who are equipped with the top skills to cater to the international audience and maintain a presence within your communities. An experienced ICO community management company should be there for you to manage your different communities and channels to optimize your value within the right audience.
So, what makes a good community management Company? Here we will look into 10 qualities you should look out for in the community management team you wish to hire for your project.
1. 24/7 Live Streaming Support
A good community management company offers non-stop support during your crowdfunding campaign. With numerous channels residing in various time zones, it is incredibly important to be able to deliver the quickest support to your potential investors, be it information or handling any issues. A dedicated team of professionals increases your chance of winning investors by up to 63%.
2. Experience, Experience, Experience
You can never go wrong with a highly experienced team. Cryptocurrency crowdfunding is no small game and could entail disastrous complications if handled improperly. You need to have a team with a portfolio of successful campaigns in the past. That way, you know your campaign is safe in the hands of professionals who have made it work for other businesses. That is a real experience, and a good community management company provides qualified personnel who are adept at answering even the most delicate and controversial questions.
3. Technical Proficiency
A good community management company surely is one where the members are highly proficient in computer use, plus, a knowledge in reading and producing insider reports. You want to make sure you hire a team whose members are skilled at reading whitepapers, road-maps, blog posts, and technical project specifications. With adept communication along different channels, the team you hire will make you feel certain you know where you are during the whole process of your campaign.
4. Professional Communication
Even if your team is comprised of tech-savvy personnel, what does it mean if they can’t communicate professionally with the key people in your communities? You can’t emphasize enough to have professionals who know how to communicate their ideas and findings to answer any questions or requests. The team you wish to hire needs to understand how important it is to deliver information not only promptly, but also delicately to bring in large investments into your project.
5. Marketing Literacy
You want to sell your campaign, so to speak. In essence, you want your potential investors to know for certain why it’s important for them to invest in your project. To achieve this, you need a professional team that knows how to advertise your campaign. But that alone won’t do the trick, a good team knows how to come up with strategies that can appeal to different types of audience. Find a team whose members have successfully managed projects for large enterprises in their portfolio; this shows a strong marketing literacy that is just as important in driving a successful campaign.
6. Quality at A Competitive Price
Managing a crypto crowdfunding is not a simple task and can cost you a lot. A good community manager understands this and can offer their services at a competitive price. That way, you get top-notch support at an affordable price that makes sense and won’t put a strain on your campaigning budget.
7. Legal Counselling
A successful ICO is one thing, but will your project be sustainable? That is a crucial question you need to keep in mind when choosing to hire a community manager. Laws and regulations pertaining to cryptocurrency differ widely country to country. You’ll want a team that knows how to handle legal issues so as to maintain your reputation in the long run.
8. Website and Social Media Analysis
You want to hire a team that makes all the good effort to review the details of your website and social media channels. Pooling investors through means of top-notch support is great, but in this digital business era, you need a team that can come up with in-depth analysis that works to help you make your digital presence look more professional.
9. Whitepaper Review
How important is it that you are able to provide an FAQ sheet explaining the modus operandi within the system you’re using? Incredibly important. A good management team can help you put up a quick summary of how you run things in your business that is easy to understand. It’s always a good idea to put this up for quick reference and to answer further questions that may arise from your audience.
10. Fighting Scammers
As crypto technology develops, so does scam. Scamming attacks in ICO are becoming more sophisticated, but with a team of highly experienced personnel, you can detect scammers early on and take timely action to prevent damage to your entire project.
At ICOBean, we understand all your needs even before you ask. We have managed successful campaigns whose businesses are still going strong today. What we do is employ a decentralized team of skilled and experienced community managers that can cater to every comprehensive need of your campaign. Entrust the success of your ICO with ICOBean today!