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 some of the most powerful ways in which you can build your social media presence and grow your crypto project.
Table of Contents
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 was also 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 2023. 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 has 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 statistics for 2023, Facebook (Meta) alone has nearly 3 billion monthly active users followed by YouTube at more than 2.5 billion.
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, 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.
- 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 that can be achieved realistically.
- Time-Related: 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 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 likely 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 social media marketing efforts there rather 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 Build 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 social media marketing activities to your sales objectives.
Strategies to Boost Crypto Social Media Engagement for New Brands
Laying down successful crypto-specific social media strategies requires meticulous analysis and planning with precision. You’ve put all the effort into building the ‘next-big-thing’ of the crypto space.
All you need now is professional marketing experts like Blockwiz to propel your crypto project to the heights it deserves. Apart from that, adopting the following strategies is a great way to begin your social media marketing:
1. Consistency in Community Engagement
In today’s digital era, every community member has a voice. They have access to the Internet, a tool powerful enough to make or break any company. You gain a giant edge if you have effective community management embedded in your crypto social media marketing. You can not only build trust among enthusiasts but also build a loyal fanbase every crypto project needs to propel.
Take Binance, for instance. A company that nobody knew a few years ago is among the biggest exchanges in the world today. Binance’s entire marketing model revolved around it’s community which was pivotal for its success. Community engagement allowed the company to identify loyal fans, fix bugs effectively, garner hype for products, unlike other competitors.
Social media platforms are perfect tools for effective community engagement. Crypto enthusiasts are almost entirely 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. Moreover, social media platforms are better optimized for 24×7 connectivity, allowing you to tap into a global audience.
Tips for Effective Crypto Social Media Management
Effective community management is all about creating a sense of connectedness among the members. Essential practices that help you stay connected include creating an experience for the users that makes them feel valued. Likewise, asking for feedback regularly can help you build trust among the community members and improve the project continuously. Also, getting familiar with the influential members of the community can help you greatly in building a strong community.
However, the most important thing about community engagement is consistency. You may have a product that gets crypto enthusiasts excited worldwide, but that doesn’t guarantee long-term success. If you don’t engage with the community promptly and consistently, they’ll soon find something else to be excited about. Having community managers as part of your crypto social media management can efficiently help you connect with your community.
2. Creating Infotainment Content for Effective Social Media Marketing
There’s a primary difference between why people consume print/electronic media and social media. If you pick up a newspaper, you want to read the latest national and international news, and not a meme. Likewise, almost nobody signs up on Facebook or Instagram to learn about the latest budget or GDP indicators. So, how do you get your target audience – most likely, the millennials – to learn about your project through social media?
Social media was built to do just that – socialize. Entertainment the social networking platforms provide is a big draw for the billions of users globally. If you ask people if they’ve read a detailed whitepaper on Facebook/Twitter, most of them will probably say no. That’s because 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 than others. No, you don’t need to make a music video or come up with the funniest pun for every post. You just need creativity to communicate your idea in a short, crisp, appealing package. Catching consumers’ emotions, holding on to them, and delivering the primary message must be your target.
Take Royal Enfield, for instance. The mighty India motorcycle brand was in shambles in the early 2000s, and its revival has been an epic story. Until you’re digging too much, you’ll never find them sharing the build quality, prices, mileage, or specifications of their motorcycles. All they showcase is the emotion and the heritage behind the brand – all in the midst of beautiful mountains.
The story of Shiba Inu is also a great example. The meme coin calls its white paper as ‘woof paper’, tapping the love of dogs within the crypto community. However, the woof paper of Shiba Inu doesn’t fail to give the desired information.
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. If you can capture your audience’s emotional space and instill the right information about your project, salud!
3. Equal Attention to All Platforms
Social media is a vast ocean, with multiple networks serving a specific audience. Facebook, for instance, caters to a generic crowd, while something like Quora appeals to a specific kind of user. Likewise, there are country-specific platforms – WeChat in China and VK in Russia. If you want to run a successful crypto social media marketing, you shouldn’t lose any prominent platform.
Primarily, the crypto space uses selected platforms – Reddit, Discord, Telegram, and Twitter. These platforms have a certain enthusiastic element, which is why not all of them are in common use. However, the adoption of crypto by the mainstream necessitates that you find mainstream platforms to promote your crypto projects. Not everyone uses Reddit, especially in emerging markets, though most might be interested in the crypto space.
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. Similarly, you’ll need to focus on regional platforms like WeChat, VK, Weibo, etc., to make your product truly global. However, if you decide to stick to the platforms conventional to the crypto space, you will definitely miss out.
It isn’t a question like “is Twitter good for crypto?” or “does Reddit brings users?”. It’s about building a more connected ecosystem for your project that would help you access a diverse, multinational user base. 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.
4. 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 don’t let the community know about it, at least not regularly. What would happen?
The community will start questioning your dedication, and if you don’t spill the beans for long, they’ll eventually drift away. Crypto space is very sensitive and elastic when it comes to project development. Expectedly, you’ll spend more time upgrading and improving on the feedback the community gives. However, it is equally important to keep the stakeholders and community members updated on what’s up with your project.
How to Keep Your Community Engaged?
Updates can be a lot of things – upcoming events, new acquisitions, airdrops, endorsements, et al. If there’s anything that can excite your audience, they must know about it – no matter how minor it is. The most important ones include halving dates, maintenance updates, complaint redressals, and replies to feedback. This will keep your audience informed on the project while also 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 phishy 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.
Crypto projects usually take to platforms like Medium and Reddit to keep their fans posted – but that’s not enough. When you have a global audience coming from multiple platforms, you need to be active on each one of them. 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.
Crypto communities consist of users and enthusiasts who drive the hype and demand from around the world. Everybody would want to be up-to-date on their favorite projects, but not all would be on the same platform. Therefore, it is safe to update all of your social media accounts to keep the crypto nerds hooked on your ship.
5. Exploring New Crypto Social Media Platforms
From Akon’s crypto city in Senegal to Bollywood celebrities selling NFTs, the crypto space is expanding exponentially. 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.
You need to keep exploring new platforms, as there’s something exciting happening in the digital space every day. Innovation plays a huge part in crypto social media management, which is why finding new digital arenas is quite important. We also have blockchain-based social media platforms emerging in recent times, like Steemit, Sola, Fluz Fluz, etc. Each of them brings a uniqueness to the space, which is likely to attract users from different spectrums.
Make A Mark
One of the biggest benefits of trying new platforms is experimentation. Trying out new and innovative ideas on mainstream platforms may come across as risky at times. However, that wouldn’t be so on a new platform, where the scope of creativity is much bigger than established platforms. You can play with your strategies, create unique content, and target a new demographic or geographic region.
This will give you the freedom to reach unknown territories without worrying about disturbing your established campaigns. You can incorporate the experiments that work into your regular 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.
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 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 has to offer for your project. So, get in touch with Blockwiz experts and start building your social media presence.