Usually, when marketing teams of any crypto brand start working on social media strategy, they mostly fail to take into account how each social media channel can help them achieve different goals in the marketing funnel. Hence, it has now become important for crypto marketers to deep dive into building their crypto brand’s presence with the right set of strategies for the right social media.
Instead of having the right goals or KPIs set for social media, crypto brands focus on gaining followers and forget that social media isn’t just about gaining followers. It is a combination of educating, adding value, gaining trust, and building a strong community of like-minded people.
In this blog, we will walk you through the 6 powerful ways in which you can build your social media presence and grow your crypto project.
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Social Media and Crypto
When cryptocurrency was introduced, many people got to know about this through word of mouth on social media platforms. The only challenge was that many social media platforms were not utilized to the maximum extent because the crypto project owners did not understand the importance of social media.
Now, that there is enough information backing the fact that social media platforms provide immense value, crypto brands are focusing on building a brand identity via social media. Your project could be on all the social media platforms, but what’s necessary is to define why your marketing team is using that particular platform for your crypto brand i.e defining the KPIs (Key Performance Indicator).
With properly defined goals, you can move forward by creating an extensive social media strategy for your crypto brand.
Did you know?
“The first-ever marketing medium used for crypto social media was email?”
Yes, that’s true! In 2008, when Satoshi Nakamoto published a whitepaper to introduce Bitcoin to the world, he created a list of 2000 emails and mailed them the whitepaper. He also was active on online forums like “Bitcoin Talk”, which is now famous for hosting the good old “Pizza for Bitcoins” transaction.
Millions, if not billions, of people, are embracing the concept of the flexibility that cryptocurrencies provide. The problem has been determining how to reach this massive audience and provide them with valuable information about their alternatives.
Obtaining knowledge on cryptocurrency has gotten much easier in recent years, thanks to the rise of crypto social media. It is much simpler for the content to spread like wildfire if it gives value to its intended audience.
Ten years ago, the majority of people had little or no knowledge about cryptocurrencies, but now, people all over the globe are talking about it. Social media has played a huge part in educating people about cryptocurrency, which is why we are seeing such enormous investments in the crypto industry.
However, much work has to be done in terms of selecting the appropriate content for the various social media sites.
Why Social Media Presence is Important for Crypto Brands?
It’s difficult to picture a future without social media in 2022. It has become a part of our daily lives and how we engage with each other all around the world. Cryptocurrency enthusiasts are no exception. The rise of cryptocurrencies and blockchain technologies is contributed mostly to social networks.
As a result, it is not surprising that blockchain developers and crypto businesses are using social media platforms for crypto aficionados for promoting and building brand awareness around their projects. These blockchain-based social media networks have grown in popularity in recent years.
There is a high demand for crypto-related knowledge, and businesses and individuals are racing to fulfill it. As platforms for disseminating crypto information, Facebook, Twitter, Telegram, and Reddit have been at the forefront. Ripple, a large blockchain-based company, has provided a lot of knowledge through webinars and even a TV series, The Ripple Drop.
Today, conventional social platforms are giving way to cryptocurrencies to promote and thrive on their platforms, and hence the crypto social media future seems bright. The majority of blockchain networks reward their members for their engagement and activity on a majority of their social media channels.
The most significant reason for any crypto brand to be present on the social media platform is the amount of brand exposure it can get through these platforms. According to the recent statistics for 2022, Facebook alone has over 2.9 million monthly active users followed by YouTube at 2.5 million users.
Any crypto business must find ways to connect with its audience, and the majority of this can be done only through social media. As a result, every crypto brand should be investing in a well-planned, laid out, crypto social media marketing strategy.
Crypto Social Media Marketing Strategies
There are 4.62 billion social media users around the world which nearly contributes to 58% of the world population. So, the importance of social media can not be stressed enough. The only thing that drives people to use social media every day almost like an organ in their body is the “content” on all of these social media platforms.
What all crypto marketers need to understand is that formulating a single marketing strategy for all social media platforms isn’t going to help them. Therefore, each social media platform needs to have its own marketing strategy.
Let us have a look at different social media marketing strategies for your crypto business.
1. Setting Goals
Having a variety of crypto social media channels at your disposal and publishing haphazardly is not a recipe for social media marketing success, in fact, will guarantee social media havoc leaving your marketing team in a mess.
It is always a good practice to establish S.M.A.R.T goals for your crypto social media marketing strategy.
Focus on a single area for improvement.
Quantify and specify a progress indicator.
Make sure your objectives are attainable given your resources.
Set goals that can be achieved realistically.
Have a deadline by when you must attain your goals.
From a broader perspective, we may deduce that the ultimate purpose of social media marketing is to increase investment in your crypto project. Each campaign, on the other hand, will have a distinct goal, such as promoting product development, gaining new investors, or increasing your crypto community members.
2. Defining your audience
Understanding how your target audience behaves might help you streamline your crypto social media marketing efforts.
It is also essential to know which social media platform is most likely preferred by your target audience. It is not necessary that every crypto brand should be active on all social media platforms. Based on your goals and where your target audience is most like to engage with you, choosing those platforms will help you achieve your goals.
If your target market spends time engaging with crypto communities on Twitter or Telegram, for example, you should concentrate your crypto social media marketing efforts there than pursuing minor audiences on LinkedIn and Facebook.
Defining your target audience is all about taking efforts in the right direction and reaching where your audience is already present.
3. Research Your Competition
It’s not always necessary to reinvent the wheel in order to have a successful crypto social media strategy. Reviewing your competitors’ approach, not to mimic it, but to help separate your crypto brand from their social presence, is the smartest method to get ahead of your competition.
A competent competitive analysis will disclose your competitor’s strengths and shortcomings, as well as the potential for growth when compared to your own.
A solid crypto social media plan helps your team research, and there’s no better place to start than with those who have already done it. Competitive analysis can help you to:
- Determine who your rivals are on various crypto social media platforms.
- What are the most popular crypto social media accounts?
- How effective are their methods?
- Set a standard for your findings.
- Identify any loopholes in your crypto social media strategy
Ways in which social media helps your Crypto Brand’s Presence
1. Reach Masses
Reaching a high number of followers on any social media requires your crypto brand to be consistent, and relevant, and to provide information to people that are not present on the internet.
Investing in a good crypto content marketing strategy will go a long way as these crypto social media platforms often push content that is engaged with by a large number of people to more people.
2. Brand Awareness
Platforms like Facebook, Instagram, and Twitter are obvious places to contact new and highly targeted potential investors and audiences, with over half of the world’s population using social media.
Did you know?
83 percent of Instagram users think the platform helps them find new brands and products which they have never heard of before.
Given the statistics, crypto social media has a huge space for brands to get discovered by their potential customers and investors, which as a broad strategy also helps crypto brands to drive their ICOs, IDOs, and token sales seamlessly.
3. Building Community
To say that some people are really enthusiastic about cryptocurrencies is an understatement. As a result, several of these new currencies are establishing chatrooms, Slack channels, subreddits, forums, Telegram groups, Discord servers, and other means of keeping their markets informed and engaged.
They promote these open groups on social media on a regular basis and encourage individuals to join. For example, GameStar Exchange regularly promotes its updates and new announcements on its Telegram channel for the crypto community members.
4. Establish crypto brands as thought leaders
Spamming your crypto social media audience and followers with “opportunities” to invest in your crypto project without delivering any value is one method for a business to lose credibility. This value can take various shapes, but it should always be intended to teach, entertain, spark debate, and obtain honest feedback.
The appropriate forum for a crypto company to express its knowledge in a certain area is social media, and the best way to do it is to create outstanding content that people will share with others. This is how successful crypto businesses have been able to establish themselves as thought leaders in their respective markets.
5. Customer Support
If your followers i.e potential investors are aware that they can contact your team via social media and are encouraged to do so, this is a terrific way to deliver excellent service to a big audience. Customer complaints or feedback are nothing to be terrified of. Take them on head-on.
When customers are treated with care, these chances may frequently evolve into fantastic testimonials. Whether or not exchanges maintain a specific help account on social media, they utilize it to direct clients to the appropriate locations at the appropriate times.
This also creates trust between your crypto project and your customers as they know your team or your brand is always approachable and in short helps your brand build credibility.
6. Boost Sales
Your crypto social media accounts are an important aspect of your sales funnel, which is the process of converting a new follower into an investor in your project. This is also called crypto social media selling.
Crypto social networks will become increasingly significant for new project discovery and investments as a large number of crypto enthusiasts utilizing crypto social media continue to rise and social sales technologies expand. The moment has come to link your crypto social media marketing activities to your sales objectives.
Starting in 2009, only a small percentage of the population was aware that decentralized money was real, but it did exist. Cryptocurrency awareness has grown from a 2,000-person email list to one of the most popular topics on the internet today.
The impact of social media on cryptocurrency value has had a significant impact. The internet excitement is heavily influenced by popular magazines, industry influencers, and the currencies themselves.
Cryptocurrency marketing is a social endeavor that will be more successful if you establish a community on one or more social media sites. Crypto social media will help you grow your brand’s online visibility and consumer base.
Investing in the right crypto social media marketing strategy or a crypto marketing agency could be your first step in the right direction to reap the benefits of what crypto social media has to offer for your project.