If you intend to raise funds for your crypto project, you’ll use multiple strategies to market your initial coin offering (ICO). An essential aspect of your promotion strategy is to use a whitepaper. Besides explaining the problem in the market, a whitepaper captures how you intend to solve the issue. Writing a whitepaper isn’t a walk in the park. However, if you can equip yourself with information, you can create a powerful document that can attract prospective investors. This article offers you juicy tips and tricks for creating a powerful whitepaper that can grab the attention of prospective investors. Please keep reading.
Table of Content
- What is a whitepaper?
- Why is the whitepaper important?
- Must-have parts and how to write the whitepaper
- Style, format, language, and length of a whitepaper
- Dos and Don’ts while writing a whitepaper
- Steps of writing a whitepaper
B) What is a whitepaper?
A whitepaper is a comprehensive document that captures the problem in the market and the solution you’re offering via blockchain technology. It is a guide that sensitizes the audience about a complex problem and presents the solution on the matter. The document explains how the technology works and how you’ll use it to solve the existing problem.
A whitepaper should be objective and read like a science essay than a marketing paper. However, the purpose of any whitepaper is to attract more investors to your project. So, while writing the whitepaper, you should use facts and figures to persuade the target audience. The document should be precise, detailed, and clear. The whitepaper can attract potential investors through a detailed explanation of your project, how it functions, its token, and potential returns on investment.
‘A whitepaper is a persuasive, authoritative, in-depth report on a specific topic that presents a problem and provides a solution.’
C) Why is whitepaper writing important?
Blockchain whitepapers come with multiple perks. So, if you’ve got a crypto project, you must use them for marketing your idea. Some of the compelling reasons to use a whitepaper include:
- A whitepaper is popular: A report by TopRank Marketing indicates that 61% of businesses in the B2B marketing use whitepapers. Because of their popularity, many industries use them as part of their marketing strategy.
- Effective marketing tool: Whitepapers provide massive details about a problem in the market and its solution. With persuasive data and arguments supported by facts, whitepapers can influence the buying decision of a potential investor. Furthermore, you can develop more content from the whitepaper that you can deploy when marketing your product/services.
- Whitepaper portrays you as a thought leader in your field: A well-crafted whitepaper can portray your company as an authority in your industry. Customers are likely to trust you when you understand what you’re doing. They can buy your product/services once they trust you as an authority in your industry. This is the main reason why you should hire professionals like Topnotch Creatives to write for you a whitepaper.
- Lead Generation: An essential quality of a whitepaper is that it’s effective in generating quality leads. Through the document, businesses can collect important information from potential clients and buyers. For example, before downloading the whitepaper, customers need to provide their names, email addresses, country, and phone contacts. You can market your whitepaper through social media, company blog, newsletters, SlideShare and Webinars, and paid marketing for lead generation.
- Competitive Edge: For your company to be exceptional, you must differentiate it from the competition. While many online businesses create content for social media and craft blog posts, many don’t use whitepapers. So, having a whitepaper sets your business aside and offers it a competitive edge.
D) Must-Have Parts of a Whitepaper
Whitepapers can have different parts to accommodate each project’s unique requirements. However, the following points are common for all whitepapers:
- Problem: Here, you should describe the problem and elaborate on how you intend to use decentralized technology to solve it. Suffice to say; you need to elaborate on why the world requires your idea.
- Solution: Here, you elaborate on the solution you’re offering for the identified problem. It’s critical to deliver solutions that beat the competition, as this makes your project stand out. At this point, you should offer the current market evaluation to convince potential investors that you understand the market well.
- Token implementation: this part has data on how the token will interact with your product/service.
- Project team: Any serious investor may want to understand the team behind a specific blockchain project. This team comprises advisers, investors, CEO, IT specialists, marketers, and others. Investors will trust your project if you have a team of experienced individuals knowledgeable in their various fields. For more information about each team member, the whitepaper should contain their LinkedIn profiles.
- Ideas on token distribution: Here, you should explain the token sale approach, safety assurances, dates of exchange listing, discounts, and others.
E) Style, language, and length of a whitepaper
A whitepaper is a formal document with a specific style, format, and language. When writing the whitepaper, ensure that you use a formal layout resembling academic writing. You can borrow ideas from bitcoin whitepaper pdf and other templates. Suffice to say, the document must be descriptive and adopt a professional tone.
Avoid rambling around and focus on a specific angle. For example, if you intend to introduce a specialty meat platform on the blockchain ecosystem, avoid talking about your intention to cooperate with other platforms by the year 2027. Instead, talk about the platforms you’ve collaborated with to introduce the solution to the market. Furthermore, because the whitepaper is fact-based, it’s important to avoid using assumptions and unconfirmed claims when crafting it. Also, ensure that the grammar on your whitepaper is pristine and errorless.
Regarding format, most whitepapers are presented in PDF format. This is because PDFs are difficult to edit. The length of the whitepaper can vary from project to project. To enable your readers to understand your project, an excellent whitepaper should have over 100 pages.
Are you struggling to figure out how to write a crypto whitepaper? If your answer is yes, please stop torturing your mind and contact Topnotch Creatives immediately. Without a professional whitepaper, investors may fail to invest in your project. So, hiring a professional writer will boost your marketing efforts.
F) Dos and Don’ts while writing a whitepaper
The purpose of drafting your whitepaper is to attract many investors to your ICO project. There are several things that you need to put into consideration. While writing the whitepaper, do the following:
- Craft top-notch content: ICOs have become competitive methods of raising funds through the blockchain ecosystem. So, you need to ensure that your whitepaper catches the attention of prospective investors. You can only attract investors by creating a high-quality whitepaper featuring first-class quality texts and graphics.
- Elaborate the problem you’re solving from the perspective of users: While explaining the problem in the market, it’s important to elucidate how you intend to use blockchain technology in solving it. If you’re taking advantage of opportunities in the market, tell your prospective investors the benefits you’ll bring to them.
- Use simple language: in a layman’s language, explain how you intend to solve a problem or address an opportunity in the market.
- Product roadmap: A roadmap in your whitepaper explains to your investors when the solution will be in the market. It also elaborates on when to bring a superior version of the technology you’re using.
- Risks: you should explain the risks you foresee from using a young technology and how you intend to reduce them.
- Indicate the purpose of your token: Here, you should specify whether your token is a utility or security. When launching an ICO, you may have compelling reasons to classify your token as a ‘utility token.’ For high returns projects, you may consider issuing a ‘security token’ to investors.
- Applicable laws: you need to demonstrate to your investors that you understand and comply with the applicable laws. Investors wish to invest in blockchain projects that comply with laws.
- Openness about crypto product development: it’s critical to inform your investors where you’re developing the crypto product. If you’ve not started creating the product, it’s important to start so. It would help if you also informed the investors how you would be communicating to them once you begin developing the product. In case the development process is ongoing, capture the code repository on your whitepaper. For example, you can direct investors to the GitHub repository.
Here are the Don’ts
- Avoid plagiarizing content: Any plagiarism claim can have adverse effects on your project. With such claims, potential investors will regard you as a bogus individual and avoid your ICO.
- Avoid technical language: Because most investors aren’t tech-savvy, it’s essential to avoid technical language that may confuse them.
- Don’t use open-ended questions about your operating model: Lately, ICOs have attracted many scams. So, issues on your operating model and structure must be straightforward.
G) Steps of crafting a whitepaper
Here are the steps to follow if you’re writing a whitepaper:
Step 1: Craft an attention-grabbing title
The title of your whitepaper should be interesting to catch the attention of your target audience. The following questions can guide you through crafting a title:
- Who is your target persona?
- What are the pain points of your target audience?
- What issues does your whitepaper solve?
- Which keywords are appropriate to your title?
Step 2: Write an abstract or outline
An abstract briefly highlights the main message of your whitepaper. It also serves as an attention grabber and should be concise and simple to follow. With a maximum of 250 words, an abstract clarifies the following issues:
- What are the contents of your whitepaper?
- Why should a prospective investor read it?
- What are the value propositions of your whitepaper?
Step 3: Introduction
Like the abstract, an introduction presents a problem in the market and how you intend to solve it using blockchain technology. While writing the introduction, it’s advisable to engage your readers and invite them to keep reading. Here are some of the points that can help you to compose a powerful introduction:
- Present the issue and indicate how centralization has contributed to it.
- Support your points with facts
- Provide extra information about your whitepaper’s content.
An introduction is like a synopsis of a play that captures the main issues, the purpose of your project, and the motivation you’ve to attain your goals. When writing the intro, it’s important to capture the socio-political situation that supports your project’s requirement.
Example of an introduction:
In 2020, the Specialty food industry brought $1.7 US Dollars. Although these numbers are impressive, the industry has multiple problems to grapple with. What with fake approvals, minimal digitization, and a difficult-to-track meat supply chain. With these problems, one encounters a lot of challenges when purchasing specialty meat. Which is the reason we’re introducing DigitalMeat vision to change the industry by digitalizing it. DigitalMeat intends to digitalize the specialty meat industry by making the supply chain certification more open using blockchain technology.
Step 4: Issue, solution, and product review
Once you’re through with the introduction, your next step entails discussing the problem in the market and the solution (product) you’re offering. This is one of the most important areas that can hook or drive away your prospective investors. You need to go deeper in elaborating the problem in the market and how your solution will offer a viable solution. Suffice to say; you should use graphics and diagrams to guide your audience. It’s advisable to contract a professional to develop infographics for you.
While describing your solution, it’s important to clarify specific terms and processes to help the audience appreciate your offerings. You should delve deeper into your solution by using an educative tone. Also, remember to pack all your claims with facts and evidence.
Step 5: Token Economics
Because your business is crypto-based, it’s critical to help readers understand the functions of tokens in your program. You need to explain your token’s functions clearly. If this area is vague, investors may start speculating, which may hurt the uptake of your program. Furthermore, a lack of proper explanation may lead to unrealistic expectations, making the investors drop your tokens if they encounter a market dip. You need to offer a clear explanation about your token to help investors understand why they should hold your cryptos even when there is a drop in the market.
If you fail to state and elaborate about your tokens’ role, your project may lose steam down the journey. Remember, 92% of blockchain projects fail, and you don’t want to be among the failures. And most of the crypto projects hit a snag because they lack realistic application scenarios.
Step 6: ICO Funds Usage Guidelines
Most investors will want to understand how you’ll use the amount you raise during an ICO. Remember, the amount of bogus ICOs happening is disturbing, and people are wary of where to put their hard-earned money. So, it would help if you gave a detailed explanation of how you will use the amount you raise.
Step 7: Road Map
Each crypto project has a roadmap that captures the project’s key milestones and when they’ll happen. A roadmap for your crypto project is a diagram that visually guides readers on important milestones of your project. Besides enabling investors to have realistic expectations, the roadmap helps them monitor your project’s progress.
Step 7: Team and Advisors
The quality of your team can attract or repulse your prospective investors. It’s important to explain who your team members are and their experience in that industry.
A whitepaper offers your prospective investors essential information about your program. Before you start marketing your ICO program, it’s important to craft a whitepaper. If you lack the skills or time to create this document, please contact Topnotch Creatives immediately. The agency has the knowledge and a team of crypto specialists to write your whitepaper.