Many marketers are turning to token marketing to use tokens as a form of marketing for defi promotion. The idea is simple: you create a token, sell it off and use that money to promote your sale. This process can be replicated an unlimited number of times with the same token or any other type of platform.
We’re going to go through some easy steps on how you can do this for your own market and we’ll touch on the benefits to using this method in the end. Check them out!
1) Create your ICO –
You will need an ICO for this process, which stands for Initial Coin Offering. At its most basic, you’ll create a website for your project and you’ll need to have a whitepaper and predetermined funding goals.
2) Create your token –
This is the most important step in using this method, as it’s where you will transfer the actual money. The process is pretty simple: create an ERC20 compatible token with any name that makes sense to allow tokens to be transferred onto the blockchain. Once again, make sure that all information on this token matches that of your white paper.
3) Launch your ICO –
When this is done, you’ll wait for investors to purchase your tokens. There are many platforms that can be used to host a token sale and your website will be the primary place most people go.
Now that you’re raised money from your ICO and have a platform set up, it’s time to create or get staff ready for marketing campaigns and campaigns using tokens as a reward for money spending. This is the process of using your tokens to perform advertising campaigns by having them listed in various places and peoples’ portfolios using cryptocurrency exchanges.
You can spend them on advertising and social channels, but you can also convert it to cash, which is why it’s essential that your marketing efforts are planned so you’re able to convert these tokens into dollars or other forms of payment. Click here for more.
To do this, we’ll need to use a platform that’s designed specifically for this purpose. This platform will allow you to create campaigns with each campaign giving out the tokens. Thus, creating an advertising campaign for a charity could result in different rewards than an existing company CEO selling their company and reaping the profits of their former employees’ should they decide to buy back their own shares in the future.
This is where this method gets really powerful, as it allows you to not only convert your tokens into usable money and reward people for their actions, but it will also allow you to start a marketing campaign to spread awareness of your token sale.
At this point, you should have created a platform that can be used to create an advertising campaign and also a platform that can be used to convert these tokens into dollars or other forms of money. This is something that anyone who is going to use this method will want to create multiple instances of, so make sure you’re creating as many tools as possible on the same platform.
4) Create your marketing campaign –
To start a marketing campaign for this method, ensure that you’re creating an advertising with seo campaign which will offer your tokens to customers in exchange for their money. This is the only way to convert these tokens into money.
5) Convert your token marketing campaigns into money –
Once you’ve done that, you’ll need to convert all of these tokens into dollars or other types of money, so that you have an actual profit and can cash out. There are plenty of places where people will accept and trade your tokens, but make sure they’re also available in everyday transactions as well. This is where it becomes difficult as you might use a token system designed to be used for the purpose it was designed for the majority of time. This might mean reworking that system’s software in order to allow it to be used on more platforms and markets.
This is the only reason that you should use this method: if you want to change the way existing markets work and create a completely new market. You should never think of this method as something that can replace others that already work, but instead as a stepping stone on the path to creating your own proper market.
Because of this, there are many reasons why you might want to use this method:
Act as a stepping stone for creating a real market where cryptocurrency can be used for purchases
Rewards for marketing campaigns can be made using tokens and these tokens can be converted into money, so it’s ideal for anyone who does not have enough capital, but wants to earn more money.
6) Creating a market –
This is the area where you should be more careful, as you can create a market that’s a replica of existing markets. While this might sound like something to avoid, it’s actually ideal for people who have access to the right software.
Check out these links for various tokenized platforms that can be used for market creation:
Once you’ve finished your ICO and created your tokens, you should immediately put them on an exchange, so that they can be traded and purchased by people who want to use this method. This will allow them to buy and trade your tokens without requiring any other type of currency or token in order to perform transactions with others.