The has shot up due to the ban imposed on advertising by the leading technology companies such as Google, Facebook, and Twitter. The budget would increase depending on the fundraising goals of the firm.
Frequent incidents of scams have harmed the reputation of ICO’s in the market and many investors have lost trust in this fundraising method. However, there are lots of good projects out there craving for much-needed attention.
The cost of top-tier websites such as Cointelegraph and Coindesk can range from $2000-$12000 per article. Influencers can charge around $5000 – $40,000 for a good video. Content writers can charge around $50- $500 for a high-quality article.
Organizing events and roadshows, promoting your ICO on social media through a community manager, participating in discussion forums on Quora, Reddit, and Bitcointalk, conducting airdrop campaigns and bounty programs, listing your ICO on ICO calendars and rating sites, paid advertising, and sharing press releases for getting it published by media outlets will also cost additional expenditure.
The cost will increase depending on the business requirements of the firm and the expected reach targeted within the market.
The real value should be created for the target audience by sharing engaging content. More effort must be devoted to how your project can change the industry. Never buy followers for your channels at any cost as it will backfire in the long run.
Certain campaigns in the form of selective marketing and word of mouth publicity can be done for free. The total budget must also be divided between different areas such as public relations, paid advertising, referrals, roadshows, and social media marketing. It should be distributed in a way to drive desired results. Include details about the benefits being offered by your project, the target audience that you are aiming at, the exchanges that you will be listing your ICO on, etc. Overall, it can cost a minimum of $50,000 and can go up to $300,000. The minimum cost mentioned here is a rough ballpark figure which will vary according to the requirements of the firm for its specific ICO project.