Topic: Bounty alone is not enough to promote a project (Read 295 times)

I’ve been searching around for 15 minutes for a thread that I find particularly interesting, but it looks like it’s been deleted. All the same, as far as I can recall, @Filmgrid opened recently a thread asking what he should do with his ICO. He stated that the ICO’s bounty had worked out more or less well, but that they had no marketing budget and could therefore not promote their ICO through anything else. As it turns out, they were not getting much attention in the pre-sale, and the crowd sale was coming soon. They were hesitant as to what to do with the dates (keep at the risk of not meeting the caps by a mile), extend, or postpone.

The issue is recurrent: no real budget (to pay of for reviews, etc.), no hype, no brilliant product that causes an impact. Tokens are made out of thin air, so Bounties are the center piece of promotion, but lacking the prior mentioned elements, the sale turns way lower than planned.

Bounty alone is not nearly enough now. People are more experimented and don’t go head first into ICOs easily. Hype is not around to push people into FOMO. Bounties are likely way less effective (less active people on the forum, social media is probably just echo to other not-really-interested social media account recipients, who are not really a target audience, but rather more part of an army of social media spam accounts that spam amongst themselves).

More than anything, unless the people backing the ICO have a very important name of their own, what is needed is a product that clearly needs tokenization/blockchain vs conventional implementation alternatives. The product should highlight it’s uniqueness and need by proof-of-concept, working bottom-up, and not simply with a top-down approach (from publicity to product). That obviously narrows down the candidates to getting anywhere near to success, which from a potential inverstor’s point of view is fine.

I agree with you, only a bounty program is not effective for project's promotion but successful running of a project involves a lot of other things. It demands other promotional activities such as arranging or participating in blockchain and crypto seminars and conferences; arranging promotional events, effectively running social media campaigns, website enhancement, community building and most of all targeting the right market with cutting-end strategies. You also need paid marketing and advertisement placement on top crypto sites, exchanges, social media and search engine. So, a well-balanced marketing strategy including bounty program, content marketing, ads, SEO, SEM, SMM is crucial for any project promotion. And, of course for competitive results you need to hire a competitive service provider that excelled at its work. And, you may also reanalyze your current strategies for better implementation of the plans as per current trends.
http://www.blockchainexpertsolutions.com/wp-content/themes/bes/img/bes-discount.jpg

Decent projects do, do all that. Of course, you need to have your team attend events or at least keep up with them and have the team write some articles and advertise on certain networks and website.

Can people not understand that a bounty hunter is a promoter. They just call it a bounty hunter because you hunting the bounties. But you still a promoter. You promote and support a project.

How do they advertise projects in Facebook through paid Ads, if the bitcoin theme is forbidden to advertise there?

Ya, those two were the fine reasons why they are still depending and trying their luck to get more exposure with bounties. They know that the bounties are way too good if they don't want to risk too much of their capital.

I see few bounties that has their tokens listed already on the exchange and the total rewards are realistic and not too much unlike those that are not, it's too much to see these days on their title's to have $1M worth of tokens to be given throughout the entire bounty run.

Some projects are like this, but others do have money but they don't want to risk their capital for ineffective marketing, which is why they resort to bounties. It would be fine if their tokens already got listed on an exchange with decent volume though, but sadly, most of the time, it's just empty promise.

You know why they are still relying to bounties? because they have no budget. It's just a win or lose for the developers if the project that they are trying to advertise through bounty will click. If not, they will rinse and repeat. Think of another idea that might catch the attention of investors.

And through bounty, they don't have to pay that much, they just promise their participants with certain stakes or amount of tokens that no one knows if it will have value in the future.

I think bounty campaigns are just one of the ways the team is doing to advertise their project.

Aside from bounty campaigns, they are advertising their projects too in Facebook thru paid ads, twitter and different social medias. Some of the projects too attend in different meetings to promote their project an attract more investors.

Bounties surly helps but I was even thinking the community can bring up another means of promotions we can use to help promote projects and now I believe most platforms are really taking that chances to adopt. More population's are getting into cryptocurrency as we speak.

Bounties sure help in terms of publicity and with the distribution of coins/tokens, but it's really not necessary. If a certain project really has a viable use-case and is actually decent, it should organically gain interest as long as the team/developers are actively interacting with the community.

There are projects that never conducted ICO before they get into the mind of millions, simply becasue of the potentials embedded on the said project. Productive project will not need ICO to survive among it contemporary if well structured to pull investors into investing with the project. What we see among projects of this days is: copy pasted projects especially those Bounty on Bounty Altcoins section, very few are worth attention even at that not 89%.


For the purpose of clarity, that's not a yardstick to a successful project even though it add-up-to.

You already posted this on Altcoin Discussion board https://bitcointalksearch.org/topic/m.51707983
There is no need to post the same topics in different boards. Either lock this thread or delete.

It's not due to that fact that ICO projects fail this days, it's due to the general awareness and reality on the part of the investors that ICO(most)are a complete waste of time and money.
It'll most likely end up being a scam, or the coins will be worth zero(nothing)
No matter the marketing strategy a project employs, a shit project still remains one and investors have realized how to secure their money by solely investing in the bitcoin and a few already popular alts(Eth for example).

As someone who browses through the bounty sphere as a translator looking for tasks I have to be honest and say that I havent found many that are worth keeping. As soon as the project is listed on an exchange the price drops by 50-90% in some cases. Of course the quality of the project cant be judged only by the price but it is an important factor nevertheless.

I personally think it's about time projects know that they cannot depend mainly on bounty campaigns as a means of promotion. A lot of projects launch their tokensale and they rely mainly on their bounty campaigns to help bring in investors and therefore are unable to reach their goals

I didn't say bounties are not effective but it should only be used as a medium to create and reward their community not to bring in investors. If a project wants to launch its tokensale then the team should employ real mean of promotion like paying top influencers, attending blockchain submmits to network, advertisements on top sites like coinmarketcap and Icodrops, etc. Because no matter how good the project and idea is, if it can't market properly then it won't reach its goals and if a project is average but have a very good and effective advertisement program, it will succeed excellently.