Things you need to know about CMO before launching your ICO — Part 2
This is the second chapter of the CMO focus. This one is shorter but reveals interesting insight on role, responsibility of the CMO within your organization and how you should use it. Part 2 ends with a graph of what I consider the global perimeter of strategic action for the CMO. I am open to discuss and exchange about it.
CMO is the customer connection role. He/She has to align your product, target audience, roadmap with people out there who are eager to make a good deal with the future Licorne or at least a nice golden mine.
To do so, here are some interesting points I would like to cover with you:
A CMO respects your audience and will implement transparency
He will focus on your plus value, service, technology and impact to educate your evangelist, audience and community. Give them the tool and data to go to you with true data and not a fake honeypot. You cannot ask a CMO to sell anything at any price. Only project with a clear value can be supported.
A CMO will give visibility on your roadmap status:
Evolution of the project, sale and post-sales. Operational performance report: Give comparison/comment on key metrics mandated in all ICO White-papers and signed off by the CTO. Means he will work closely with your technical team to spread the customer experience and will support you in what to communicate first and what is not a priority. An interactive roadmap is one of the best solutions (Be careful to not overload the structure, keep it visual).
A CMO will make sure you are on the right track to meet the Regulation requirement:
Legal aspect, token functionality and nature, organizational structure, team and resource identification. Explain clearly how the wallet will work, level of security, terms of investment, and early bird discount rules., etc. Get an audit 30 days or 60 days prior to your ICO and communicate the report. Be clear on what happens if you don’t reach your target and how you will roll the campaign back.
Details of the Pre-sale, Sale and Post-sale (lockup periods, vesting schedules..). CMO will help you to avoid some basics mistakes such as changing your scope, features, rules or team member during the ICO process.
For Token distribution, pie chart graphics is NOT enough, you need to include specifics. All is about building trust, the less transparent, the worst. Investors’ main concern is where their money will go and do, hence clear details.
A CMO is a growth hacker expert
No doubt it is the central point all CEO dreams about. Nice KPI with huge traction, traffic generation, and conversion rate. CMO goal is not to get only buyers, he/she need evangelists to support your reputation during the sales and after the sales. The more they get addicted to your solution, the more you will get buyers, users, activities and token value.
As the duration of sale is short, you will need a viral and massive hype in pre-sales period.
In a few words here are the major item the CMO will cover:
- SEO Strategy: Organic promotion is one of the key factors to support your audience and to facilitate the way to reach you.
- Blog: Implement an efficient storytelling that fit with your audience.
- Emailing Campaign: Increase your reach and lead with the right segmentation and content strategy.
- Bounty program: It is recommended to set aside no more than 0.5% of your tokens. Too high a rate will subject your company in the shady or ‘worthless’ category.
- Social and forum discussions: Know your audience segment and adapt your content versus the channel.
- Use ICO official Website to be on the list and the official agenda.
- Participate in crypto events, conferences: You have the opportunity to do the pitch, meet investors, interact with the community, get feedback and build your reputation.
This is a short list, to cover all growth hacking marketing we would need to write a really long article, but this will give you a good idea to start your journey in the exciting ICO venture!
The CMOisnot an advisor but your Executive team member, a mentor and a coach in your governance. He/She has to interact with your team to get the insight about products, features, organizations, goals and roadmap. CMO manages data analytics from the consumers and market to accelerate and optimize the fundraising processes.
Here’s a graphic representation of a Strategic CMO responsibilities perimeter within your organization.
Hope this part 2 will be helpful for those who are in the process to select a CMO.
Do you agree on this article? Please let me know your comments.
If you want to go deeper, here’s some interesting articles I recommend: