Top 7 Mistakes ICOs Make
When Buying Video For A Company
We get it – you’ve got a great ICO. It’s gonna change the world!
But what if no one can understand it?
If no one can understand an offering, no one will buy it. If an offering is too complex, the prospect holds onto their money.
The thing is, any ICO project is complicated – but you’re dead if you can’t at least explain it clearly to your prospects. Those doubts they have about your project? They’ll remain.
An ICO project is full of important bits and pieces that you need to take care of. One of the most important aspects of all is finding a way of removing the jargon and explaining your ICO in such a clear and succinct way that even a six year old boy could understand it.
Simplicity is key – but it might be something you’re struggling with.
“If you can’t explain your ICO to a six year old, you don’t understand it yourself!”
– Albert Einstein (maybe).
Okay, okay, we’ll level with you – Einstein didn’t actually say that. But another great historical figure, comedian Groucho Marx, did once say this:
“Why, even a four year old child could understand this! Run out and get me a four year old child – I can’t understand this.”
When it comes to your ICO, understanding is key. If a prospect can’t understand it, they won’t invest in it. To quote yet another great historical figure, we’re living in a brave new world, a world of digital tech, bitcoin, blockchain – and ICOs.
The problem is that all of this has come at once in a deluge – and people are finding it hard to:
- explain these concepts to people
- understand them!
There’s a lot of confusion out there, but here’s the thing – your job is to be the mastermind of the ICO project, which means you could let someone else take hold of your project and explain it to your prospects.
If you have an awesome ICO that you can’t even explain to your prospects, what do you do?
It’s frustrating. The money is out there. Over $5.6 BILLION has been raised in ICOs already.
But you’re kinda in a hole because you can’t explain your ICO to a six year old boy. So how do you explain it clearly?
The first thing you need to do is answer your own questions, such as:
• How will project solve a problem – and what specific problem is it?
• How does my project work?
• Why does my project need blockchain tech?
• How is my ICO different to rivals?
These are fundamental questions about your ICO that prospective investors will be asking. To make sure that you can answer them when you’re put on the spot, ask them to yourself and come up with answers that are as clear and as simple – but also intelligible and useful – as possible.
That’s what we do at Video Chef. We take a complex ICO, we ask the founders questions, and no matter how complicated the answers are, we put the answers through a blender, remove all the pulp and debris and pour the crystal clear juice into a glass for others to see.
In other words, we explain your ICO in a clear and engaging way so that others – including that six year old boy – can understand it in seconds. This is key. If you can’t do this, your site visitors will land on your page, get frustrated by all the technical jargon, and quickly leave. And this is devastating when your goal is to get them to sign up, buy your token, support your ICO and – perhaps most importantly of all – spread the word.We get it – your ICO is going to revolutionise the world!
An ICO Is A Team Project – Why Not Seek Help?
We get it – your ICO is going to revolutionize the world. It will follow Ethereum and raise over $18 million in cryptocurrencies in just a few months. Everything is in place, too; you have a slick website a superstar advisory board, and you’re ready to get investors to sign up. However, once again, we return to that sore point – the bit where you must explain your ICO to people. Sure, you’ve got a white paper. It’s 8,000 pages long, references Vitalik Buterin, and discusses ledgers. The problem is that the six-year-old boy has a troubled look. He can’t understand it, sucks his thumb, and cries for his mom. He got to page 4, and it gave him a headache.
A white paper is necessary for any ICO project. But it doesn’t grab an investor’s attention like an action-packed, 2-minute explainer video does. An explainer promo video for your ICO is exciting and engaging. It does what a white paper or even a long blog post on your website can’t. It cuts through the noise.
Here is what else an explainer video does:
• Boosts conversions by as much as 80% if placed on your landing page
• A video explains your concept clearly and in a fun and engaging way
• Strikes at the heart of people more than text. According to research, a single minute of video is worth 1.8 million words
• Convinces people to sign up and buy tokens
• A video is easy to share, which boosts your visibility
• Creates a genuinely cinematic experience
And when it’s crafted by a professional video production company like Video Chef, it makes your ICO look even more professional. It makes it look like you care about your project and your prospects. Plus, it looks FANTASTIC on your landing page. It’s essential that you don’t ruin things by missing out on a video if everything else about your ICO project is perfect – from the idea itself to your team. Without an explainer video, you could rob your prospects of an opportunity to invest in your ICO.
At Video Chef, our mission is to remove doubt and confusion from your prospects and grow your business, and we’ve been supporting the decentralized economy since 2013.
But why choose us over any other video production company for all your explainer video needs?
Top 7 Mistakes ICOs Make When Buying a Video
Look, as smart as ICO founders are, they don’t know the video production market all that well. And that probably explains why they keep making these same mistakes:
1. They Pay Too Much
We see it all the time – ICOs paying out $10,000 ++ for an ICO video.
Is that really par for the course?
Nope!
This isn’t Hollywood. No matter how much you pay, you won’t have George Clooney explaining your ICO to investors.
2. They Pay Too Little
We also see a lot of ICOs paying as little as $300 for an explainer video, but this only lands them with unskilled freelancers who are still trying to figure out After Effects, who are still probably in college, and who rely on template-based videos. It’s not exactly cool when you’re trying to sell your ICO to investors.
3. Receiving A Video With Passive 3rd Person Script
This is a mistake because passive = boring, and boring means disengagement.
We know that the number 1 aim is to clearly explain your message to prospects, but it must be explained in an engaging way that hooks people and keeps them engaged right up to the CTA.
4. Buying From A Company That Has No Experience With Blockchain
This is bad because it means that the video production company is going to have a very hard time distilling your message and making it easy for prospects to understand.
5. Buying From Companies Who Don’t Understand Blockchain
It’s the same as above. If a video production company who doesn’t understand blockchain makes a video about blockchain, the viewer will probably be even MORE confused!
6. A Video That’s Too Long and which is STILL unable to explain what your blockchain does in just a few words.
2 minutes is all Video Chef needs to explain your blockchain to a six year old boy.
7. Buying From Companies Who Act As Thought The Video Production Process Is Complicated And Takes Ages
If a video production company tells you this? They’re lying. At Video Chef, we work efficiently and professionally, delivering your video quickly so that you aren’t left waiting.
Looking For an Explainer Video To Explain Your ICO?
In 2018, Video Chef are focused on explainer videos for ICOs and blockchain.
Previously, we made over 600 videos for SaaS, apps, trainings and websites.
But now that we’ve discovered the concept of decentralisation and fallen in love with it, our focus is 100% on projects just like yours.
We’ve already helped clients raise millions by explaining their ICO in a clear and engaging way to their prospects.
So make your ICO fun, easy to understand, cinematic and highly converting by working with Video Chef today.