Three reasons why ICO fail
ICOs are flying up left, right and focus now and what we saw in 2017 was just the start of a pattern that is probably going to make much more waves in 2018. On the off chance that you have a thought, you can dispatch your own ICO and raise capital for it, yet here are 5 reasons your ICO will, in all probability, come up short.
Incompetent product marketing
Mostly ICOs fail because the product you are about to launch or you have launched has no demand in the market. Wisely plan your product marketing strategy and measure the major audience of your product before launching an ICO in the market.
Make sure your idea genuinely need an ICO. Because most ICOs act like selling tokens for the purpose of raising money- such ICOs are likely to fail.
Failure to create product identity
People are attracted to those projects who sounds good. They give importance to those projects who look good and promising. Such as if your logo, website content, fonts, visuals, ICO white paper are engaging and attractive then people will value it but if your website and its content look unprofessional then people will not take any risk to invest in it.
ICO is not only about your idea. If you want to make your ICO a hit then you should give equal importance to its marketing and branding. Spend quality time on creating the brand identity because it will open the door for many other new opportunities.
Impractical objectives and budgets
The impossible spending plans and targets of the new business dependably put the business in challenges. The higher you set your targets, the more spending you should accomplish those destinations as is the need to spend on the advertising, PR, advancement, plan, and substance. Thus, to evade this, ensure the targets of your offering should coordinate the extent of your venture. Before heading off to people in general deal, it is perfect to lead a private deal first if your group is little for an ICO.