Did you know that the top ten cryptocurrencies account for the lion’s share of the crypto market capitalization? This shows us that unless your crypto project is right there among the best, it may get lost in the sea of thousands of other projects. Hence, you need to amp up your crypto marketing strategy to make sure your crypto project stands out.
What better way to do that than cultivating a loyal crypto community? As a crypto brand, a cryptocurrency community is your most valuable asset. That’s why you must know how to build and nurture such a community. But before that, let us first consider why it’s important to build a crypto community in the first place.
Why Is Community Building Important for Crypto Marketing?
Let us tell you some interesting facts about cryptocurrency users. According to a study conducted by Binance:
- 97% of users trust cryptocurrency
- 52% of investors consider crypto a means of income rather than a hobby
- 15% of crypto users consider it their primary income source
These stats clearly show that crypto is a golden opportunity and much bigger than what many think. As a crypto brand, the sky is the limit if you can get people to take an interest in your project and make the investment.
However, the crypto industry is extremely competitive, with new projects launching every other day. Community building could prove an effective tool in your ultimate crypto marketing strategy.
Here are some more reasons that highlight the need to establish a cryptocurrency community for efficient marketing:
- A crypto community provides you with information about your target audience. It will help you learn about the various types of users and their readiness to invest. Once you identify the needs and behavioral traits of your target users accurately, you’ll be able to tailor your marketing language to cater to their specific concerns, such as reduced volatility, greater security, etc.
- A crypto community is also the perfect place for your users (both existing and prospective) to voice their concerns and ask questions. This, in turn, would allow you to provide prompt customer service.
- When you succeed in developing a solid cryptocurrency community, you get access to new networks and audiences. As your dedicated followers promote your forum, it’ll prompt more individuals interested in the crypto space to join you. After all, there’s no greater marketing tactic than word of mouth!
How to Build a Cryptocurrency Community for Crypto Marketing?
The crypto industry may be packed with new projects launching regularly, but many of them have high mortality rates. A successful crypto community could be your key to ensuring your project doesn’t fall in the same category. Here’s how to build one:
With billions of people active on different social media platforms today, it makes sense to start here. The majority of your potential investors and users would have a social media presence. In fact, community-based social media platforms like Twitter, Reddit, Discord, and Telegram are widely used by crypto enthusiasts.
These platforms enable users to locate information, news, and stories relevant to their interests. Moreover, they allow them to build their own virtual communities and network with others sharing their interest in crypto. Such niche specificity helps crypto enthusiasts find the appropriate groups to match their needs.
Hence, these platforms provide an ideal opportunity to build your own crypto community. Such a community would help you draw your audience and generate traffic to your website with little marketing effort.
Here’s a rough blueprint you may consider following. Start by attracting your target audience on Twitter — the hottest platform for crypto marketing. Use Reddit for public relations and redirect your audience to Telegram and Discord to build the perfect community. Here, you can respond to comments and queries, ask for suggestions, and keep your crypto community engaged.
Influencers are social media behemoths who can impact your target audience’s decisions to a great extent. Find a reliable crypto influencer and invite them to promote your group. They will bring with them thousands of enthusiastic followers who could potentially join and expand your crypto community.
Incentives are the most effective technique to attract any audience to take a desired action. That’s why social media contests, giveaways, and crypto airdrops are a great way to incentivize people to join your crypto community.
There are several examples of crypto startups implementing this idea. Take Tamadoge as an example. This brand-new cryptocurrency initiative is giving away $100,000 for holders via Gleam. Similarly, the 2022 WSOT giveaway had an 8,000,000 USDT prize pool. The contest saw a huge success due to the massive prize pool.
By now, you should have a fair idea of how to build a crypto community. But it is not enough to establish a cryptocurrency network; it must also survive. Otherwise, all your efforts will be for nothing. To manage your crypto community efficiently, consider the following:
- Reward your community’s active members. This will give them a sense of belonging, and others will be encouraged to put in more significant effort. This will also increase community engagement and the success of your initiative.
- List your crypto community outside social media platforms, such as on well-known directories, for more exposure. This will also allow your members to engage outside the blog or comments.
- Respond to your members’ comments, queries, and concerns frequently. Allow them to feel heard and taken into account.
This is just the tip of the iceberg. There are several more nuances involved in managing a crypto community that can only come from experience. However, you may delegate the entire task to a professional agency to save yourself the headache.
Creating a dedicated, loyal, and profitable cryptocurrency community is not a mere competitive advantage; it is almost a necessity. Although it can be daunting to build and nurture one efficiently, the rewards are well worth the effort or resources you invest.
Looking for a professional crypto marketing agency to promote your crypto project? Contact Digital Nod today, and let us help you take your project ‘to the moon!’