While there is no specific amount fixed, it depends on the scope of your ICO project and the extent of buzz that you want to make.
The Major Expenses to Spend Are
Articles on popular crypto sites – Top sites that are well-read such as Coin Telegraph and Coin Desk will charge around $2000 to $12000 per article.
Influencers – A YouTube influencer who has more than 1000 subscribers in his channel will levy a fee of around $5000 – $40,000 per video.
Salary to be paid to content writers – Freelancers can charge rates of around $50 – $500 for a high-quality article.
Other expenses would have to be incurred for organizing events and roadshows, paying the social media team for promotional activities on Twitter, Facebook, Telegram, and Reddit. Undertaking public relations by sharing press releases and organizing paid advertisement campaigns will also have to be taken into account.
Bounty programs and airdrop campaigns where free tokens will be given would also require a significant budget.
The cost can shoot up depending on the kind of platforms and tools that you choose. It can vary from around a minimum of $25,000 and go up to $500,000 depending on the reach that you are aiming for in the market. In case you do not prefer to use paid promotion tools, you have to target organic traffic.
At the end of the day, aim to create real value for your target audience. Speak more about the benefits of your project and the impact on the whole industry and the world. Never resort to buying fake likes and followers.
You can save a lot of money by using selective marketing and word of mouth publicity. You can allocate certain activities for your in-house team and outsource the rest to a credible ICO marketing agency.
Hire a well-versed ICO marketing agency which has several tools and channels to promote your ICO far and wide. They should possess core knowledge of working with blockchain-based products and services for shaping a successful campaign to drive the desired results for your firm. It must create value for your company.