Community is the real strength of crypto businesses. A strong and loyal community helps you get the required traction and withstand turbulent times. Platforms like Twitter, Telegram, Reddit, and Discord remain hotspots for discussions and debates around blockchain, Web3, and cryptocurrencies. Crypto businesses can catch the attention of relevant audiences by actively engaging on these platforms. Community is all about starting conversations and adding value. Crypto community building is critical to standing out amidst the cutthroat competition. Building a crypto community requires an experienced team, impactful content, and most importantly, the active presence of moderators and community managers.
Startups spend millions of dollars on marketing their projects and garnering attention from audiences. Having a vibrant and informed community is free marketing in simple terms. Be it an ICO launch, token burn, staking pool launch, or third-party integration, community engagement works like a charm.
However, building a crypto community is a different ball game altogether. A DAO builder or a Web3 builder may lack the required skillset and expertise to build and sustain a community. In this blog, we will discuss the process to build a vibrant crypto community.
Five Tips For Crypto Community Building
Using Telegram As A Communication Channel: Crypto companies aggressively use Telegram as a communication channel to communicate with their audiences. It is one of the icons embedded on their websites. Telegram is one of the most popular platforms when it comes to daily communication with the community. You can start community channels using Telegram to deliver the latest updates to the audience on priority. Most importantly, it is one of the best ways to engage with people committed to your project. Having a strong online presence also boost your project’s credibility, encouraging users to invest their time and money in your project.
Hiring A Community Manager: The demand for crypto community managers has skyrocketed and one can understand why. If you want to make the most of platforms like Telegram, Twitter, and Discord, you must have an expert on your team who has mastery over the art of generating traffic on social media. Besides overseeing the content creation process, community managers are responsible for a variety of tasks including posting, moderation, and planning. If you are planning to hire a crypto community manager, make sure the individual knows how to use platforms like Telegram and Discord to your advantage.
Incentivizing Engagement: Think like an average social media user. Will you share a post about a random token launch you saw on the Internet? No right? Why would anyone else? This is why crypto startups do giveaways. Building a community organically is very challenging. You can do weekly or monthly giveaways to accelerate the growth of your social media accounts. (Say $50 to 5 random users who follow the account and like and retweet this tweet). This is a proven way to reach out to a wider yet relevant audience in a shorter period of time.
Founder’s Presence Is The Magic Bullet: Community building requires consistency and dedication. This involves the online presence of the founder as well. One of the biggest challenges to effective community management is audience fragmentation. Crypto startups need to be present on different platforms because of this fragmentation. The result is the fragmentation of efforts and dedication. The presence of a project’s founder can reduce this fragmentation, bringing the majority of the community to a single platform. How? When you communicate with the users as a founder, they feel important. Eventually, things spread like wildfire. Thanks to word of mouth. There’s nothing like a brain behind a protocol communicating with the audience and giving them clarity.
Provide Value: A fatal mistake that many startups commit is talking too much about themselves. Avoid using your social media channels to sell a service. All you have to do is educate the audience about the value your product brings to the table. For instance, $XRP (Ripple) positions itself as a digital and decentralized alternative to traditional global payment systems like SWIFT. If I were to promote $XRP today, I will simply put out a blog that highlights the misuse of the SWIFT system by the Western powers for geopolitical gains. When you highlight problems in existing solutions, users are bound to look for alternative solutions. Guess what is the viable alternative? Exactly! When you provide value to the community, they remain committed to your project and it leads to organic marketing.
Bottomline
Community Management is at the forefront of marketing strategies for Web3 and Crypto businesses globally. Community Management is an integral part of the marketing and promotion strategies of Web3 businesses, as it should be. If you are setting up a new crypto venture, seeking professional help makes sense. Hiring community managers, content creators, and designers pay off in the long run. Crypto community building could be tricky, but with the right team, you can easily get where you need to be.