As a business in the crypto space, you might find yourself needing to launch a token at some point. At any given point, there are thousands of crypto tokens in the market, and while some rise to the top, others remain in obscurity.
One of the biggest factors that determines which tokens succeed and which don’t is the token launch process. The crypto market has a long memory, and a poorly done launch can burn bridges with the customer base and ensure that a token never gets its foothold.
But what makes a token launch fail? This is largely due to poor planning in marketing and poor execution. Many token launch campaigns don’t take into consideration the current state of the market, the audience it is targeting, and much more. Even when it does, token launch campaigns might not go off as planned, which in turn affects consumer perception.
This is why a coordinated launch strategy is of the utmost importance for businesses in the crypto space. In this article, we will examine the different moving parts of a token launch and how to properly execute one.
PHASE 1: Pre-Launch Foundation
The success of launching a token begins even before it does. Well ahead of time, the marketing team behind the project will need to develop a foundation for it, ironing out many of the finer details in the process. Some of these are as follows:
Define Token Positioning & Narrative
When launching a token, it is important to know what story you are telling about it and how you want the audience to see it. The myriad of crypto projects on the market means that your token has to be clear in its purpose. Is it a meme coin based on vibes? Is it a high-quality utility token?
If you don’t know how to define your token, you won’t know how to market it properly to consumers. In turn, if consumers don’t know how to place your token, they are less likely to buy it. So, your first step will be to define your token niche, its identity in the marketplace, and how this will be crafted.
Whitepaper & Documentation Preparation
Always remember that, as much as your crypto token is a digital product, it is also an investment vehicle and a financial instrument. This means that its backend and financial processes have to be clearly stated and communicated to potential investors.
This is why your whitepaper needs to be front and centre of your token launch activities. Your website and social media handles should have links to it. It reassures people that you are a legitimate project and will likely attract even more investment. Hire a professional to not only compile but also edit and design the whitepaper so that it is easy to read and understand. You don’t want the reputation for being unprofessional off the bat, and having a whitepaper is a step in a positive direction.
Smart Contract Audit & Trust Signals
A hallmark of a successful token launch is establishing trust with the general public, and a great way to do this is through a smart contract audit. Because crypto investors have been burned in the past, they are often wary of new projects. By having your smart contracts independently audited, you show that you have nothing to hide and have your investors’ best interests at heart.
Other things you can do at this stage are publicly name the members of your team, offer a history of the project, explain practical use cases, and much more. Doing this as early as possible gives you a chance to establish yourself before any doubt can creep into investors’ minds.
Website & Technical Infrastructure
The next thing you’ll want to do is make sure that the technical infrastructure needed for launching a token is in place. Have a website professionally created, with all the relevant details of the token listed. You’ll want an FAQ page, an about section, a way to contact the team involved, and so on.
Crypto buyers are not going to trust a project with no website, so make sure that you have one up and running as soon as possible. If you’re holding a presale for the token launch, include an easy link to purchasing the token. You should also link to the exchanges where the token is going to be sold. Never make your customers have to work to find your token; instead, have it readily available.
Community Infrastructure Setup
In the Web3 space, community is everything and launching a token without any sort of community (or at least an avenue for the community to form) is a dangerous approach. Before your token launches, create accounts on all the relevant social media platforms and community interaction platforms. This includes things like Telegram, Discord, X, Medium, Reddit, Zealy/Galxe, and many more.
Post relevant content on these platforms and work to cultivate an audience. Also, post links to these platforms on your website and run ads if you can. By having community infrastructure in place, you’ll see better launch date engagement and long-term activity.
PHASE 2: Pre-Launch Marketing Activities
Once the foundation is complete, your next step will be starting your marketing activities. Don’t make the mistake of marketing a token after it has launched; you need to push it well before this, and the following activities will get you on the right track.
Coin Listing Preparation
Getting a token listed on reputable exchanges is not a quick process. Typically, there are weeks, if not months, of review from the exchange’s team, and you need to do this well ahead of time. Make a list of all the exchanges you want your token to be listed on and look into their submission process.
You will have to fill out a number of forms, submit documentation, have the project internally verified, and much more. Make sure you begin these long before your intended launch date and account for any possible delays. But once you are approved for listing, you’ll get a major credibility boost and easier access to the crypto market.
Crypto Press Release Strategy For Token Launch
A major part of token launch marketing activities is press releases. These PRs are not just a way to inform the public of the latest updates but also a way to drum up publicity. By appearing on high-ranking and relevant sites, your crypto press release can earn your credibility, offer a source of backlinks, and even drive sales.
To make the most of these benefits, you’re best off distributing your PRs through crypto-focused media. That way, you are seen not just by a big audience but by the relevant ones as well. The press release also needs to be well written, with a catchy title, adhering to the 5 Ws, with relevant links, and much more. As we have outlined in a previous article, a well-written press release can multiply the benefits for you.
Crypto Influencer & KOL Marketing Strategy
Influencer marketing has proven to be one of the most effective ways to reach an audience in the modern age. As such, any token launch looking to make a splash will need influencers and Key Opinion Leaders (KOLs) on its side.
First, do your research and list the top influencers in not just the crypto space but the niche you want to target. Then, you’ll want to craft a campaign plan for them. This includes the key phrases they should use, the content format they should advertise (sponsored YouTube reviews, thread campaigns, token deep-dive videos, etc.), the length of the campaign, and so on. Then, reach out to them either directly or through their management to iron out the details. They should know when the token is to be launched and by what time the campaign on their end should have kicked off.
Airdrop & Community Growth Campaigns
Because crypto consumers are spoiled for choice when it comes to tokens, you have to incentivize them to engage with your project. When launching a token, this usually means using some of the tried-and-tested tactics customers have come to expect. Airdrops are one such option, as giving away a portion of the token can convince people to engage with or at least look into the ecosystem.
You can also hold Q&A sessions, offer perks to existing community members, and much more. Always remember that anything that creates community engagement and loyalty will benefit you in the long run.
Pre-Launch Content & SEO
Drumming up attention for your website ahead of your token launch is much easier when you have SEO-optimized blog posts. These posts have to be genuinely insightful and helpful content to drum up attention and rank highly on search engines. Perhaps you can answer questions about the token, analyze the market, give updates about its development, and so on.
By applying the principles of SEO, such as relevant headings, backlinks, proper structure, and so on, search engine crawlers will rank you highly, leading to more traffic and possible sales.
PHASE 3: Launch Execution
As your token is going live, all your previous efforts will come to fruition, and certain steps can help them go off without a hitch.
Coordinated Announcement Strategy
All announcements of the token launch have to go live around the same time. This means press releases are published on the same day, ideally within the same hour. Social media posts should announce the launch simultaneously. Your KOLs and influencers should also post content regarding the token launch within days, if not hours, of each other.
You can ensure cohesion by scheduling your press releases and social media posts for the same days and confirming with your media partners. By having these published simultaneously, you put up a unified front and can maximize results.
DEX/CEX Liquidity & Visibility
On launch day, you should confirm that your token trading pairs are listed on the CEXs and DEXs as required. If there is any issue or irregularity with the listing, make sure you contact the platforms and have it corrected.
Also, make sure the trading links are visible. Let all of your followers, as well as the general public, know where the trading pairs are listed, the price, and link it for easy purchase.
PHASE 4: Post-Launch Momentum
The work isn’t over after the token has been released to the public. Launching a token also includes keeping the momentum going long after it is listed.
Follow-Up Press & Milestone PR
As we’ve said in a previous blog post, you can put out press releases to announce project milestones and developments. When your token hits certain trading numbers, is specially recognized, is listed on a new exchange, and so on, you can put out a press release to keep its name in the news and engage with your audience.
Exchange Listing Strategy
A single or handful of listings on crypto exchanges should not be your ceiling for token launches. As time passes, you should look into more listings on more exchanges, diversifying your trading pairs, and much more. The better the token does on one platform, the easier it will be to list it on another.
Long-Term Growth Engine
Long-term, your project should look towards expanding its ecosystem, acquiring a larger market share, and crafting a positive reception in the Web3 space. This can be achieved through increased audience engagement, goodwill efforts, diversifying use cases, and much more. As long as your project continues to grow and expand on what it can do, it has a higher chance of surviving long-term in the market.
Monitor Launch Metrics
At any given time, you should be aware of the progress of your crypto token. Long after the token launch, you need to monitor all your key performance indicators to ensure things are going well. This includes your social media engagement, your website traffic, backlinks, SEO score, and much more. In a previous article, we highlighted key performance indicators to monitor and ensure they are reviewed regularly. This could inform you of issues long before the materialize and can keep you on the right path.
Common Crypto Token Launch Mistakes
The crypto sector has seen many token launches, but not all of them have gone off without a hitch. Some common mistakes made with crypto token launches include starting marketing too late, targeting the wrong audience, not producing high-quality white papers, not building customer trust in time, being too secretive about the team, and more.
These issues are not just starting errors but could be major problems that can affect a project for years to come. It’s always better to launch the best possible token effort than to play catch-up for years after.
Conclusion
Launching a token can be one of the most exciting and complex things you’ll ever do in your crypto business. As we’ve highlighted, several moving parts have to be managed at the same time, from drumming up activity ahead of time to monitoring your token’s performance long after it has launched. Reach out to us here at BTCWire to discuss your token launch needs, and we will make sure your project makes its grand debut in the market with style.