You might be amused to know that the first-ever marketing medium used for crypto was email. This was 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 of what is now considered the first cryptocurrency.
He was also active on online forums like “Bitcoin Talk,” now famous for hosting the good old “Pizza for Bitcoins” transaction. However, that being said, crypto project owners and marketers did not fully leverage their potential for so long due to a lack of understanding regarding their significance.
Crypto brands are now prioritizing cultivating a distinctive brand identity through social channels. With adequately defined goals, you can also create a comprehensive social media marketing strategy to spread the word for your crypto brand. This crypto social media marketing strategy guide will take you through some of the most potent ways to build your social media presence and grow your crypto projects.
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How Social Media is Reshaping the Crypto Industry
Cryptocurrency’s potential for flexible cross-border transactions grabbed eyeballs of millions of enthusiasts around the world. However, the challenge has been to effectively reach this vast audience and provide them with pertinent information about the benefits and uniqueness of your project.
Social media is the best medium for projects to reach the target audience. It is much simpler for the content to spread like wildfire if it gives value to its intended audience. Social media has played an enormous role in educating people about cryptocurrency. Nonetheless, many projects need help building a crypto social media marketing strategy to promote their unique crypto initiative to the public effectively.
Why is Social Media Presence Important for Crypto Brands?
There is a high demand for crypto-related knowledge, and businesses are racing to meet it. Social platforms offer a way for cryptocurrencies to promote and thrive on the market. The most significant reason for any crypto brand to be present on social media is the amount of brand exposure it can get.
Social media platforms provide unparalleled exposure to a vast audience, with billions of active users across various channels. Projects can leverage this exposure to cultivate brand awareness and promote products and services to potential customers.
According to the statistics, Facebook (Meta) alone has nearly 3 billion monthly active users, followed by YouTube at more than 2.5 billion. But why are they so effective? Let’s find out here.
For starters, social media channels facilitate direct customer communication, allowing quick and efficient feedback and resolution of issues. This can enhance customer satisfaction and brand loyalty, giving a boost to revenue and profitability.
Moreover, opportunities for content creation and distribution provides a means for crypto brands to showcase their thought leadership, industry expertise, and overall brand identity. This helps establish the brand as a trusted and respected authority within the crypto space.
Crypto Social Media Marketing Strategies
There are 4.62 billion social media users in the world, nearly contributing to 58% of the world population. A robust social media marketing strategy is essential for crypto projects to achieve their goals and maximize their impact.
Randomly posting content without a well-defined plan is unlikely to yield the desired results and may even be counterproductive. A well-crafted social media strategy can help crypto projects to engage with their target audience, build brand awareness, and promote their products and services.
Cryptocurrency projects can optimize their social media presence and maximize their reach by setting clear goals and objectives, identifying the appropriate social media channels to leverage, and implementing a comprehensive content plan. Let’s delve into it in depth.
1. Setting Goals
Establishing S.M.A.R.T goals for your crypto social media marketing strategy is always a good practice.
- Specific: Focus on a single area for improvement.
- Measurable: Quantify and specify a progress indicator.
- Achievable: Make sure your objectives are attainable, given your resources.
- Realistic: Set goals possible to achieve within the specified time.
- Time-Related: Have a deadline for when you must attain your goals.
Each campaign will have a distinct goal: promoting product development, gaining new investors, increasing your crypto community members, or any other target.
2. Define the Target audience
Defining your target audience is about making efforts in the right direction and reaching where your audience is already present. Understanding your target audience’s behavior might help streamline social media marketing efforts.
The second step is identifying the platforms where your target audience will most likely engage with you. For instance, if your target market is active on Twitter or Telegram crypto communities, focusing your social media marketing efforts on those channels rather than pursuing smaller audiences makes more sense.
3. Identify Your Competitors
Identifying your competitors is critical in developing an effective crypto social media marketing strategy. Understanding who your competitors are, what they offer, and how they engage with their audience can provide valuable insights and help you differentiate your brand from others in the marketplace.
- 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.
By comprehensively analyzing your competitors’ social media activities, you can better understand their marketing tactics and strategies. This enables you to identify untapped market areas your brand can capitalize on while discovering potential opportunities to outperform your rivals.
4. Develop Plans For Each Platform
Once you’ve identified your competitors and gained insights into their marketing strategies, developing separate plans for each social media platform is rudimentary.
Each channel has unique features, audience demographics, and engagement patterns, requiring tailored approaches. By developing separate plans for each platform, you can optimize your content and strategies to resonate with the audience and align with platform-specific features.
This approach helps to ensure that your brand’s messaging is consistent and relevant across platforms while maximizing the potential for engagement and growth. Moreover, developing separate plans for each social media platform allows you to optimize your resources and focus on the platforms that offer the highest ROI.
5. Executing Your Strategy
Developing plans for each social media platform is crucial in creating a successful crypto social media marketing strategy. However, executing these plans effectively and consistently is the key to achieving desired results.
Social media experts have to be invariant in following schedules. Posting content consistently can help your brand build a solid social media presence with your audience. It also improves the algorithms of social media platforms, making your content more visible to your target audience.
Furthermore, executing plans involves monitoring the performance of your social media accounts, engaging with your audience, and optimizing content based on audience feedback.
You can filter your social media strategy and create content that resonates with your audience, leading to higher engagement rates, lead generation, and conversions.
6. Measure Your Performance
Measuring performance for each social media platform after executing plans is crucial to evaluate the efficacy of your crypto social media marketing strategy. You can gain valuable insights into your social media campaigns by tracking metrics such as reach, click-through rates, engagement rates, and conversions.
Performance measurement enables you to understand what works and what doesn’t, allowing you to refine your social media marketing strategies and optimize your content for maximum impact.
Little-Known Secrets to Boost Your Social Media Presence
Crypto social networks will become increasingly important for new project discovery because your crypto social media accounts are an essential aspect of your sales funnel: converting a new follower into an investor in your project. The tactics below can add value to your crypto social media marketing strategy.
Establish crypto brands as thought leaders
Spamming your crypto social media audience and followers with “opportunities” to invest in your crypto project without delivering 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.
Building Community
Crypto projects are developing chatrooms, Slack channels, subreddits, forums, Telegram groups, Discord servers, and other means to establish a community to keep their markets informed and engaged.
Consistency in Community Engagement
Implementing effective community management strategies in your social media platforms is the perfect tool for community engagement. Crypto enthusiasts are connected through social networks like Facebook and Twitter. Likewise, effective use of Telegram and Reddit – platforms preferred by crypto communities globally – can also boost your marketing output. By leveraging the right crypto social media marketing tactics, you can build trust among your community members. Moreover, social media platforms are better optimized for 24×7 connectivity, allowing you to tap into a global audience.
Take Binance, for instance. Binance’s entire marketing model revolves around its community, which is pivotal for its success. Community engagement allowed the company to identify loyal fans, fix bugs effectively, and garner product hype, unlike competitors.
Customer Feedback and Support
Reaching out to your team via social media is an excellent way to provide exceptional customer service to a broad audience. When customers receive attentive care, it can lead to outstanding reviews and recommendations.
This approach can help build trust between your crypto project and your customers, who perceive your brand as approachable and reliable. Ultimately, this can boost your brand’s credibility and enhance its reputation in the market.
Creating Infotainment Content
If you ask people if they’ve read a detailed technology article on Facebook/Twitter, most will probably say no. Nobody likes to read boring stuff while scrolling through hilarious memes.
How to Turn Information into Infotainment?
The solution is simple – make your content more entertaining and engaging than others. Add creativity to communicate your idea in a short, crisp, appealing package. Catching consumers’ emotions, holding on to them, and delivering the primary message.
The story of Shiba Inu is also a great example. The meme coin calls its white paper ‘woof paper,’ tapping the love of dogs within the crypto community. The entire social media campaign of Shiba Inu is built around perceptions, unlike their competitors. Hence, people connect with them emotionally – that’s what makes a successful social media campaign.
Equal Attention to All Platforms
The adoption of crypto by the mainstream necessitates that you find mainstream platforms to promote your crypto projects. Primarily, the crypto space uses selected platforms – Reddit, Discord, Telegram, and Twitter. These platforms have a certain enthusiastic element over others.
For instance, Facebook has a 57.09% market share in India, while Reddit has a meager 0.16%. So, if you try to “follow” the Reddit marketing trend more than Facebook in India, it might not be effective. It isn’t a question like “is Twitter good for crypto?” or “does Reddit bring users?”. It’s about building a more connected ecosystem for your project to help you access a diverse, multinational user base. You must create a separate marketing strategy for Twitter, Discord and all other platforms.
The key is to have platform-specific content curation and use every platform for specific purposes. While Reddit is great for community engagement, Instagram can be great for brand creation.
Regular Updates Across Platforms
Consider this – you’ve built a great project and have a strong community wave going for it. You decide to improve upon the project and focus all your energy on development. However, you aren’t informing the community about it regularly. What would happen?
Crypto space is compassionate and elastic when it comes to project development. Expectedly, you’ll spend more time upgrading and improving on the feedback the community gives. However, keeping the stakeholders and community members updated on what’s up with your project is equally important.
Updates can include upcoming events, new acquisitions, airdrops, and endorsements. If there’s anything that can excite your audience, they must know about it – no matter how minor it is. The community should be posted about maintenance updates, complaint redressals, and replies to feedback. This will keep your audience informed on the project while helping you generate traffic for your social media channels.
Also, regularly updating your social media keeps scammers and bad actors at bay. There have been instances where users were duped through phishing websites and social media accounts. There’s been a rise in Ethereum scams, where scammers promise airdrops and high returns in the garb of promotional offers. Keeping your community posted regularly will help you identify such scams and prevent your users from losing their assets.
Exploring New Crypto Social Media Platforms
Innovation plays a massive part in crypto social media management, so working on new channels can bring more value to projects.
The format for each platform can be different, but the information must flow across all of them. For instance, a press release on Medium can be an infographic on Facebook and a simple tweet on Twitter.
Blockchain-based social media platforms like Steemit, Sola, Fluz Fluz, etc, are emerging recently. Each of them brings a uniqueness to the space, likely attracting users from different spectrums.
Do A/B Testing
One of the most significant benefits of trying new platforms is experimentation. You can work on your strategies, create unique content, and target a new demographic or geographic region. Doing A/B testing can help you decide on the best plan for you.
Likewise, trying out new tactics and platforms allow you to reach unknown territories without worrying about disturbing your established campaigns. You can incorporate the experiments that work into your social media marketing programs and avoid those that don’t. This way, you can be an early mover on new platforms and find creative additions to your digital marketing campaigns.
Wrapping Up
The crypto space is expanding exponentially from Akon’s crypto city in Senegal to Bollywood celebrities selling NFTs. It’s essential to step up your game every day, as the competition is growing in all directions. To stay on the money, you need to dig deep and keep tabs on all the latest developments in crypto marketing.
Cryptocurrency marketing is a social endeavor that will be more successful if you establish a community on one or more social media sites and deliver value through your marketing strategy.
Investing in the right social media marketing strategy or collaborating with a crypto marketing agency could be your first step in the right direction to reap the benefits of what crypto social media offers for your project. So, contact Blockwiz experts and start building your social media presence through Blockwiz’s innovative crypto social media marketing strategy.
