(Newswire.net — December 11, 2017) — When it comes to launching your bounty campaign, there is a list of things that need serious consideration. But if you are new to this term then we are here to guide you through every step of a bounty campaign.
Bounty campaigns are more like tiny rewards that various platforms like software developers, startups, etc. present to an individual in response to performing different tasks. These tasks range from improving online services to reporting bugs and viruses on a website. One of the best ways to enhance your bounty campaign is through the token economy and by initiating an ICO startup.
With this being said, you have to make sure that you have the best ICO bounty campaign in order to top the charts. But with the amount of competition in today’s world, nothing comes easy. However, following the right path can show drastic improvements in your ICO bounty campaign and if you are looking for the best practices to follow in an ICO bounty campaign, then you are on the right track. We will provide you with some of the most incredible ICO bounty management tips that will boost your campaign to another level.
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Choose wisely and pick the best
Sometimes, beginners make a common mistake of rewarding every single contributor that they assume is offering a sensible deal. This can harm your brand name and can cause serious damage to your campaign. Try to be very selective when it comes to choosing contributors. Opt contributors that can benefit you in the long term as well as immediately too. Selecting average contributors can easily affect your brand’s stakes, which you clearly want to avoid.
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Watch out for all the hackers and scammers
One of the major challenges of ICO bounty campaign is that they are an easy target for hackers and scammers. Disguised as ‘bounty hunters’ these scammers can deceive you very easily. Bounty hackers, claiming to change the ethereum address to something like ‘they added when they submitted the task’ are found to be scammers most of the time. It is essential, therefore, try taking all security precautions for a more secured ICO bounty campaign.
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Try to organize everything
Once you are on the right track, you will experience an overwhelming response from the contributors. All these contributors are extremely desperate to know whether their submission has been accepted or not. This overflowing response can cause a lot of hassle for you if you fail to organize everything accordingly. In order to overcome this situation, it is highly suggested that you create a participants’ list. You can do this by creating an online Google spreadsheet and making it public so that contributors can get all the needed information without hindering your work.
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Promote your ICO bounty campaign
The easiest way of taking your ICO bounty campaign to the next level is by promoting it on all possible social platforms. Experts suggest that tweeting about your bounty campaign multiple times can help you attract a lot more contributors and participants. By spreading the words everywhere, you can create awareness about your brand and all that by staying within a budget. Try to mention your campaign in your press releases too, so that your brand can reach a wider audience.
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Everything takes time
A common mistake made by most of the beginners is that they want the tables to turn overnight. You have to be very patient to make the most of your ICO bounty campaign. It is highly recommended that bounty tokens are at least distributed after 14-15 days of the original exchange day that happened in the first place. This not only lets your token price to grow but also provides you with more time to convince the bounty token holders to hold the reward in the long run.