In the world of cryptocurrency, having a solid social media marketing strategy is crucial for spreading awareness and building trust. However, crypto developers face unique challenges when it comes to promoting their projects on social media. Many centralized platforms have imposed restrictions or even outright bans on cryptocurrency-related content.
While there have been some recent changes, such as Facebook revising its stance on cryptocurrency advertisements, platforms like Twitter still have strict regulations in place. This means that crypto marketers need to be mindful of the content they create and ensure it complies with these regulations in order to effectively reach their target audience.
Social media continues to have a significant impact on various businesses. In fact, social media is responsible for most of cryptocurrency’s growth and appeal.
Social media and cryptocurrency have had a long and symbiotic relationship. The relationship between social media, bitcoin, and blockchain is still developing in exciting new directions. As blockchain technology grows in popularity, the influence of cryptocurrency and social media on one another is becoming mutual. Even blockchain-based social networks are now gaining traction.
Before we dive into some tips to effectively create a crypto social media marketing strategy, let us look at what it is and some of the best platforms to utilize.
What is social media marketing?
As mentioned, irrespective of what industry you’re in, social media marketing is essential.
Social media marketing is the practice of developing content for social media platforms to promote products and services, build communities with target audiences, and generate traffic to a business. Marketing on social media as a whole is continually growing, with new features and platforms appearing every day.
Before jumping straight in and posting content straight on social media, companies need to consider their overall social media strategy.
1) Start with your goals
First and foremost, individuals and companies need to figure out their goals. They need to ask themselves how social media can help achieve their business goals. Some businesses use social media to improve brand awareness, while others use it to drive visitors to their websites and increase sales. Social media can also help you create a community around your company and act as a customer care channel for your clients.
2) Choose relevant sites
In order to do social media advertising successfully, you must also determine which social media sites you will concentrate on. The most popular social networking sites include Facebook, Instagram, Twitter, LinkedIn, Pinterest, YouTube, and Snapchat. Smaller, up-and-coming platforms include Tumblr, Tik Tok, and Anchor as well as social messaging systems like Messenger, WhatsApp, and WeChat.
When you’re first starting out, it’s best to focus on a few channels where you believe your target audience is active rather than trying to be everywhere. You also need to think about what type of content your company needs to put out to connect with these people in an authentic way. What kind of material will most appeal to the target audience? Do these people like photographs, videos, or blog posts? Or do they want information that is educational or entertaining?
3) Build a buyer persona
Creating a buyer persona, which can help companies answer these questions, is a fantastic place to start. The good news is that you don’t have to stick with one plan indefinitely. Rather, you can always tweak it based on the results of your social media posts.
4) Develop a schedule
You also need to make time for planning and publishing. Developing a consistent presence on social media is usually the first step in small business social media marketing. Approximately 3 billion individuals use social media regularly. You can allow your brand to be noticed by future customers by simply being present on social media sites.
Sharing a blog post, an image, or a video on a social media site is all it takes to publish to social media. This is the same thing an individual would do on their personal Facebook page. However, instead of developing and publishing content on the spur of the moment, businesses prefer to plan ahead of time. After all, when you’re running a social media account for your business, each new piece of content needs to align with your overall goals. You must also create amazing content that your audience enjoys. Beyond that, you need to publish this content at the correct time and frequency to maximize your social media reach.
5) Perform social listening
The third aspect of social media marketing is listening and engagement. Conversations about a company’s brand will increase as its social media following grows. People will leave comments on their social media posts, tag them in their posts, or send them direct messages. People may even discuss the brand on social media without the brand’s knowledge. As a result, businesses will want to use social listening to keep an eye on social media conversations about the brand.
If you get positive commentary about your brand, then you know you’re delighting your customers. On the other hand, in the case of negative comments, you can step in and address a problem before it worsens. You can manually check all your social media notifications regularly. This is inefficient, and you won’t see posts that don’t include your company’s social media profile handle. Instead, you should utilize a social media listening and engagement platform that collects all of your social media mentions and messages, including postings that aren’t tagged with the company’s social media account.
6) Evaluate your results
For effective social media marketing, you need to do analytics and reporting. It’s important to know how your social media marketing is performing along the process. This is true whether you are publishing content or engaging on social media. You need to be able to tell whether you are reaching out to more individuals on social media this month than you were the last month. Additionally, you need to look at how many positive reviews they received and how many people utilized the hashtag associated with your brand in their social media posts.
The social media networks themselves tend to supply some of this information by default. You can also use the extensive range of available social media analytics tools to gain more in-depth analytics information or compare across social media platforms.
7) Paid posting
Last but not least is advertising. You might want to explore social media advertising when you have more finances to expand your social media marketing. You can advertise on social media to a larger audience than just those who follow you. Nowadays, social media advertising platforms are so powerful that they can target specific audiences with their adverts. You can create target audiences based on demographics, interests, behaviors, and other factors. When you have multiple social media advertising campaigns operating simultaneously, you can use a social media advertising tool to make bulk modifications, automate operations, and optimize ads.
The relationship between cryptocurrency and social media
Cryptocurrency is gaining popularity everywhere, from online forums to popular social media platforms like Facebook, Twitter, Pinterest, Instagram, and others.
Of course, given that social media is where most people get their news, this isn’t surprising.
In fact, social media is where two-thirds of American people acquire their news.
As a result, digital currency has grown in popularity on these platforms. One of the most popular social advertising platforms for reaching a vast target audience is Facebook. At the moment, Facebook is changing its policies so that it can use cryptocurrency to expand. With over 2 billion monthly active users, Facebook can drive mainstream adoption of anything.
The future of crypto-social relationships is bright as long as cryptocurrency articles, news, and updates continue to dominate social media news feeds. Social media and other media outlets can influence cryptocurrency price fluctuations for better or worse.
Social media’s impact on the crypto market
The current social impact on crypto shows that social media and forums are still necessary for the expansion of digital money and blockchain technology. This is because people and businesses are becoming more interested in investing in bitcoin as it continues to rise in popularity.
You’ll almost certainly need to look to social media and forums to get the most up-to-date crypto news. For example, Bitcoin owes a lot of its popularity to the social media site Reddit.
Reddit is currently one of the most popular social influencer sites. On Reddit, everyone from crypto enthusiasts to crypto analysts can be found sharing their knowledge or engaging in debates over topics that affect the industry. The Bitcoin subreddit provides lots of information on cryptocurrency.
While it looks like social media and forums will continue to influence the future of crypto, people are still debating over whether it will happen. Social media continues to influence almost everything in our everyday lives, and digital currency and blockchain technology have also started to make their impact in the social space.
The current social media structure could also be disrupted by blockchain technology.
Many underlying blockchain concepts are ideal solutions to many of today’s social media problems:
There are three main things that Blockchain-based social media networks can offer; truly decentralized social content, more secure social networks, and better consumer payment options. After all, there is no central server in a blockchain-based social media network.
As a result, users have more control over the content they post. The entire network will oversee the social network management—no more conforming to Facebook or YouTube’s whims. Additionally, current social media networks capture user information and sell it to the highest bidder, in a trend driven by hackers and government-sponsored information sharing. On the other hand, users can keep their personal and online data and habits private via crypto-based social platforms. This increased security is a breath of fresh air for social media users. Last but not least, because there are only a few options to make payments on social media, consumer transactions might be inconvenient.
This is also terrible news for marketers who spend a lot of money on social marketing but get a low return on investment.
All of that could change with the introduction of a crypto-based social platform.
Introduction of a crypto-based social platform
Users will be able to pay in a variety of ways, all of which are secure. Using the Basic Attention Token (BAT) model, advertisers can generate more leads and obtain more customer data.
Undoubtedly, social media significantly influenced propelling cryptocurrencies to their current position. Multinational corporations are seriously considering using cryptocurrency and blockchain technology to streamline many of their present, somewhat outdated, business procedures. However, the balance appears to be shifting. Crypto-based social platforms are gaining popularity, addressing many of the problems that traditional social networks pose for both consumers and companies. The link between social media, bitcoin, and blockchain will continue to develop at a breakneck pace. In the future, though, there will be more two-way cooperation.
Top social media platforms for crypto marketing
Reddit is, without question, one of the most essential sites for the cryptocurrency community. Reddit is the 5th most popular website in the United States and the 18th most popular worldwide, with over 1.5 billion monthly visitors. Its stringent regulations and subreddit feature attract people who are interested in crypto marketing, cryptocurrency, and blockchain technology. The site is frequented by some of the industry’s most influential figures. For example, Vitalik Buterin responded to an article on ETH’s valuation on the r/ethtrader subreddit,
Discord
Discord, which was created for gamers who wanted to interact during games, has seen increased adoption by developer teams, crypto marketing agencies, and ICO investors in recent years. The most popular Discord channel is /r/Cryptocurrency, although there are numerous specialist channels where devs hang out and discuss updates or ideas.
Telegram
In late 2017, Telegram was the go-to app for community creation. It’s still a popular ICO and airdrop platform. Developers may update their followers in real-time, and the app offers some robust privacy safeguards to keep users secure. You may need to sift through all the spam, bots, and false followers to get to the good stuff.
Twitter is the most well-known social media platform on this list, and it’s inescapable due to its influence on the crypto space. Anthony “Pomp” Pompliano, Neeraj Agrawal of Coin Center, Joe Weisenthal of Bloomberg, and hedge fund manager Mike Novogratz are all easily accessible on the platform.
Medium
Some of the most prominent long-form writing in the Twitterverse can be found on Medium.
Medium is the most acceptable source for crypto investor education, from Jimmy Song’s ‘Why Blockchain is Hard’ to Reserve’s ‘Analysis of the MakerDAO Protocol.’
BitcoinTalk
BitcoinTalk is most famous as the site where Satoshi Nakamoto initially announced Bitcoin and created the phrase “Hodl.” Aside from its historical significance, the forum is a beautiful place to announce new ICOs and airdrops and build popularity quickly. Although BitcoinTalk isn’t as popular among the crypto marketing community as it once was, some early adopters and bounty hunters still frequent the site.
Cryptocurrency and blockchain projects are inherently social, which is why, if you’re establishing your own project, you’ll need to build a community on one of these social platforms.
How to effectively create a crypto social media marketing strategy
We have previously touched on the core pillars of a social media strategy but let us go further into detail.
1) Identify relevant social media sites for your project
When promoting a project, the first step is to build a list of all social media channels where you can find your followers and investors based on topic and audience. It’s crucial to get a feel for where your project will be acceptable and attractive and how you’ll provide content and promote banner advertising there.
It’s worth carefully considering the benefits and drawbacks of platforms like Instagram, Snapchat, YouTube, Facebook, Twitter, Reddit, Quora, LinkedIn, and Medium. Consider how well each platform is optimized for visual, graphic, or text material. It goes without saying that a beautiful image is a secondary need for a product in the FinTech or blockchain categories.
As a result, Twitter, LinkedIn, Quora, and Reddit should be on your shortlist. In the case of Facebook, the company’s attitude toward blockchain and crypto projects is still in flux, and your ad campaign or the page could be suspended at any time.
The role of the first three social media platforms is easy to understand; they can be used to reach an extensive range of people. Facebook and Twitter are founded on informal communication. At the same time, the professional network LinkedIn opens the door to a fascinating world of investors, crypto evangelists, and experts in the blockchain and crypto industries. Given that we’re seeing many recent guides on how to promote crypto ventures on Quora, it is also a must-have channel.
Of course, any cryptocurrency project must have its own Reddit account.
In the second half of 2018, Google Corporation, followed by Facebook and Twitter, outlawed any cryptocurrency advertising. While we’re still seeing some crypto advertisements on these platforms, they have to adhere to strict regulations.
Twitter is a unique social media platform that focuses on brief text messages.
The Twitter audience is constantly active with comments, retweets, and reposts to their other social media accounts. The main goal is to grow your number of followers and subscribers organically. You should begin by experimenting with various strategies: increase your number of subscribers, audience search through Twitter Ads, and get the community involved in the project.
Purchasing followers is a popular method of attempting to gain subscribers. Nevertheless, it will not provide you with an engaged audience. Instead, you will obtain a massive influx of users for a relatively modest price for such a service, but you will be guaranteed to have zero conversion.
Twitter does not directly help in gaining new users for a crypto project. This is particularly troublesome for projects that already have a working product, for example, an application (mobile or desktop). However, if you have $1000 to spare, you can try out other Twitter campaigns to reach a more targeted and responsive audience. However, if your goal is to gain many followers, we recommend skipping Twitter Ads (which have a CPC of $0.69) in favor of Airdrops and other cryptocurrency-specific promotional strategies. These will bring more people to your account at no additional cost to you.
Facebook outlawed the direct promotion of cryptocurrency projects on its platform in 2018, then revised its stance in 2021. While there are still many restrictions on crypto advertisements, you can get around these if you’re creative enough. It helps to partner with a licensed advertising firm after your token has been listed on exchanges (if the exchanges themselves are verified and have licenses that Facebook understands).
You can experiment with language and “Call to Action” phrases. You can also earn more Facebook followers from organic traffic generated by an Airdrop/Bounty campaign.
On the social networking site LinkedIn, the most effective plan is to target specific people. LinkedIn provides a variety of ad placement alternatives (dubbed “self-hosted targeted advertisements” by the company). You can attempt each of these solutions (with an average CPC of $11.8), but no one can guarantee the outcome.
While this is time-consuming, it actually works.
Quora
You may acquire numerous site visits using Quora advertisements, at a rate of $ 0.79 each.
You should start by finding related subjects on the platform (such as mobile payments, bitcoin, blockchain, money transfers, and so on) and answering inquiries from there.
You must operate carefully in this network and avoid aggressive marketing in your responses. If you play your cards right on this network, your project will be able to attract a particular number of users to the app or project. Sharing content on Quora is an effective guerrilla marketing technique. Even so, it takes time and is ineffective in terms of install conversions.
In general, you must complete two objectives before you launch any startup, and this also applies to a crypto startup: understanding the idea and attracting investor interest.
To accomplish the first goal, you must outperform your competitors; for the second goal, you must demonstrate that the start-up is viable and that the founders are not con artists.
A week would not be enough to complete such a large amount of marketing work.
As a result, preparing a crypto project for promotion can take months or even years.
During this stage, the startup team must establish itself, demonstrate its worth, and amass a small but loyal following.
Marketing and public relations directly influence whether you will attract investors and generate the required finances. In most cases, failure to attract investment is linked to technical faults and poor contact with your audience, poor channel selection for PR and promotion, and advertising budget cuts. The project’s details must be posted on relevant websites as part of the promotion campaign. It is vital to choose blockchain-related forums.
This is a simple process.
Some free social media promotion tactics include:
- Forming themed groups and enticing users to join them. You may start as many groups as you want for free and invite your friends and like-minded people to join. People will follow you if you publish exciting material regularly. Your organization’s visibility will also skyrocket.
- Interacting with people who engage with your accounts. Many people with profiles on social media are willing to give you likes, tweets, and other services. If you want to build positive long-term relationships with these people, you can start by liking them back.
- Looking for and joining competitive groups and communities. It’s important to identify groups in your niche that have a live audience. You may participate in their lives by referring to your page or group in comments and debates regularly. However, make sure you do this in an authentic way – slip your project into conversations where it makes sense. Using blatant sales tactics on any platform is a sure turn-off for people who would’ve been loyal audiences if you were more authentic. One way to be authentic is to recommend the solution your project offers in response to someone who has expressed the problem you’re solving.
- Creating a subject thread on specialist forums can help you connect with your target audience, possible investors, and other stakeholders. Managing the topic on the forum allows you to interact directly with the audience: you can answer questions, go into greater detail about various parts of the project, and quickly dispel any misconceptions.
The power of social media coversations
When you initiate a social media conversation related to your project, don’t expect all input to be favorable. Remember that constructive criticism is just as valuable in terms of helping you improve the project. By forming a public project group on Telegram, you can do similar forum work. Immediately after publishing the project website, you must start creating threads about the future fundraising drive. Of course, round-the-clock comment monitoring requires a prompt response to all AMA (ask me anything) questions.
While social media and community platforms may appear interchangeable, there is a major difference between the two. In general, social networks are made up of people who have nothing in common (aside from the fact that they all have accounts on a particular platform). Communities center on a single issue. You can bring some users from social media to your platform and create a community around your project.
Conclusion
If you want to connect with potential project users, simply generating fascinating content on social media will no longer suffice. Eventually, you will need to resort to purchasing ads in some form or another. In order to do this, you need to gauge which platform will produce excellent results for your particular project. New project developers must identify the project’s promotion goals and devote time to creating fascinating and valuable information that can subsequently be shared. This strategy attracts a genuinely loyal audience that is interested in the brand’s expertise and products. In the crypto industry, social media marketing is similar to any other field, with a bigger focus on the platforms that will be utilized.
Do you need help building a PR strategy for your cryptocurrency brand or your ICO?
The team of PR experts at Pressfarm has experience working with brands in your industry to help them stand out from the crowd. The team of PR specialists, expert writers, and skilled designers are experienced at writing winning press releases, designing creative media kits, and writing feature stories that will make a memorable impression. Pressfarm has got all your content creation needs covered – from content creation to content distribution. Moreover, you can use our media database of 1 million+ journalists to connect with journalists in the cryptocurrency industry. Reach out today and let us help you generate the publicity your brand deserves.