In recent years, cryptocurrencies really took over the economic system, because people started to use them in their day-to-day lives. Countless tokens continue to flood the market, promoting this new way to look at money.
However, for new crypto brands, life is not easy. The days when people jumped at every token are over, to recruit and retain traders crypto-platforms need to do a lot of work. Like any other business, crypto platforms need effective strategies to expand their own user base.
Without a marketing strategy, traders quickly lose interest in the ecosystem. Platforms suffer a catastrophic loss of users, and pretty soon the whole ecosystem dies. However, the crypto-industry found its own innovative ways to attract new users and increase the investments in their tokens.
Airdrops have proven to be more effective method of stimulating a trader to invest. The main function of airdrops is to explain the platform and what it can do for its likely users. Users, in turn, get rewarded with the platform’s native token for performing certain actions.
The tasks can be as simple as the transition to the platform’s pages on social networks. In other cases, users who own a specific amount of crypto, such as Bitcoin, receive the airdrop rewards.
Airdrops work for other purposes as well. Sometimes, users do not have an opportunity to participate in the ICO of some very popular crypto projects. Thus, with airdrop, protocols can reward their own community and trader for support. Airdrops also guarantee equal distribution of digital assets between users around the world.
Apart from this, ICOs are not allowed in several countries, which makes it difficult for traders to participate. In this scenario, airdrops give users access to a digital asset of the platform without breaking any laws.
So, how should you launch an airdrop? It is very easy to mess everything up, spend a lot of time and energy planning the event, and not get any results in the end. There are a few things you should keep in mind when planning an airdrop.
Naturally, the first step to launching any successful airdrop is going to be correct planning. Decide on your goals for your own airdrop campaign. Do you want to ignite an interest in users or investors? Do you need people to trade or only to join the community? Depending on your answers, you will be able to run:
- Global airdrop, which involves the distribution of tokens to all participants.
- Smart airdrop, which involves the distribution of tokens to a group of people to create a small but strong community.
Choose carefully, the wrong type of airdrop can bring unsatisfying results.
Pick a date
The next step to launching an effective airdrop campaign is choosing the right time. The choice, again, will depend on our goals.
Timing should help guarantee the greatest positive impact of the event. It is often a good idea to launch an airdrop just a few months/weeks before your token sale. The right time will undoubtedly help users to prepare and explore the platform in advance.
Find a good manager
Remember, the success of the airdrop is also dependent on the person who is entrusted with implementing your plan. Choosing a good campaign manager is not an easy task, but it is crucial. Apart from this, it is essential to remember, that the airdrop campaigns are unpredictable. Thousands, if not millions of people take part in them. But if you have a good campaign manager, your plan will have a huge chance to work.
Select a distribution model
No less important is how you intend to distribute the reward in tokens. Users complete tasks and expect their reward, but how much and for what actions?
Your planning at this stage will already indicate whether your airdrop will be successful or not. Obviously, you need to have the necessary amount of tokens. But, if you put a very large number of tokens into an airdrop, you will face a decline in your prices. The more tokens you give out for free, the less their value. So, it is necessary for you to carefully monitor the number of tokens that you distribute.
When making a decision, consider your total supply and market price. Some people are saying that an airdrop should allocate between 1% and 4% of the total supply.
Having decided on a number of tokens, now divide them into groups. Each group will be given to complete a specific task.
Manage your community
Another significant, and at the same time dangerous thing, related to the airdrop campaigns is community management. The idea behind airdrop is to create an active community. Public websites, blogs, and social media accounts are very important for crypto projects. Planning an airdrop is one thing, but attracting people to participate is another. How do you do it?
A serious advertising strategy is a part of every successful airdrop. You can not simply announce that you are launching an airdrop, new users do not know how to use your platform so they will need help. Create instructional videos, guides, and other content that will help users.
It is great to have a manager, who will periodically publish and update your users on what is happening to a platform. This will allow you to manage your own Telegram, Twitter, Discord and Reddit communities so that your platform stays active even after all promotional campaigns are over.
When planning an airdrop, make sure that you have a website and all social media accounts up and running, this will greatly increase your reach.
If you approach airdrop wisely, it can bring your project great success. Plan ahead, work only with professional managers, and don’t forget the power of social media.