How to perform ICO Market Survey: Guide
The world of cryptocurrencies has exploded in recent years, and thousands of original currency offers (ICO) are published annually. However, the lack of clear understanding and thorough market research can make investors, entrepreneurs and companies sail with a complex landscape.
In this article, we provide a comprehensive guide to conducting ICO market survey, including steps, tools, and best practices that will help you make information.
Why is market research important?
Before you invest in or participate in ICO, it is necessary to understand the market. Here are some reasons why market research is crucial:
- Confirm Request : Making Market Research will help you strengthen your project’s demand by analyzing customer feedback, social media noise and industrial trends, you can ensure that your product or service or service is genuine.
- Understand Competition : Competitors’ research allows you to identify areas for improvement, potential partnerships and differentiation.
- Improvement of the price strategy : Market research will help you determine the optimal price point of ICO, taking into account demand, competition and regulations.
- Improving Risk Management : Understanding market trends, investors and risk factors you can make more conscious decisions about whether or not to invest or participate in ICO.
Steps to complete the market survey of icons
- Define -Do project targets and targets
* Clearly outline the task, vision and project targets.
* Identify the target audience and their needs.
- Run online study
* Social platforms (Twitter, LinkedIn, Reddit)
* Online Forums and Communities
* Online products and news points
- Analyze customer feedback
* Collect feedback from potential clients through research or interviews
* Analyze the content of the feedback to identify pain points and areas of improvement.
- Evaluate industry trends
* Research industry reports, research and academic studies
* Identify trends and techniques that can affect the project.
- Evaluate the regulatory environment
* Check out the relevant regulations and laws in your Explore (eg sec in the United States).
- Collect information from potential partners
* Examine potential partners and their offers
* Evaluate the offers of products or services, the size of the market and the customer base.
- Drive competitors’ analysis
* Analyze the strengths of competitors, weaknesses and market stations.
- Identify the key players in the market
* Set the key players with your target market.
Tools for Market Research
- Social Networks Listening Tools : Hootsuite, Sprout Social or Brand24
- Queries and Tools : SurveyMonkey, Google Forms or Typorm
- Industrial Reports : CBI, Deloitte or McKinsey report
- Online Communities : Reddit forums (eg R/ICO), LinkedIn groups or project -related online communities.
- Market Research Plates : Quantitative Analysis Tools such as Google Trends or Ahrefs
Best Practices to Perform Market Survey
- Complete a thorough study : Make time to collect and analyze data from multiple sources.
- Be objective : Avoid biased personal opinions or feelings.
- Your Document application : Keep your research, including methods, results and conclusions.
- Find Expert Tips : Contact Market analysis with professionals or advisers in the field.
- Stay up to date : Continuously monitor market development and adjust your strategy accordingly.
conclusion
Performing a thorough market study is crucial when the icon is started.