Regardless of what industry a company may be in, social media marketing is essential in getting the word out about the brand as well as its products or services. However, in the crypto industry, it is not just about the content you create and when, but about which platform you. This is because many centralized platforms have either put restrictions or banned the promotion and marketing of cryptocurrencies.
Social media continues to have a significant impact on various businesses. Cryptocurrency and blockchain projects are examples of the kind of businesses that are starting to rely more and more on social media. 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 from the early days of digital currency’s social forums to today’s popular social media channels.
The relationship between social media and blockchain technology is still developing in exciting new directions. As both bitcoin and blockchain technology grow in popularity, their influence on one another is becoming mutual. This is increasingly evident as blockchain-based social networks are 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 talk about some of the best platforms to utilize.
What is social media marketing?
As mentioned, irrespective of the industry in question, social media marketing is essential.
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 is known as social media marketing. It is continually growing, with new features and platforms popping up every day.
Before jumping straight in and posting content straight on social media, companies need to consider their overall social media strategy.
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.
Crypto developers must also determine which social media sites they 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 and 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. The last part of the first step is thinking about what type of content the company wants to put out. For example, what form of material will most appeal to their target audience? Is it photographs, videos, or blog posts that they are looking for? Does the information need to be educational or entertaining?
Developing a marketing persona, which can help companies answer these questions, is a fantastic place to start. They don’t have to stick to this plan indefinitely; they can always tweak it based on the results of their social media posts.
Secondly, there is planning and publishing. A consistent presence on social media is usually the first step in small business social media marketing. Around 3 billion individuals use social media. Companies can ensure their brand is noticed by future customers by 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.
It’s the same as anyone would do on their personal Facebook page. However, instead of developing and publishing content on the spur of the moment, businesses will want to plan ahead of time. Companies must also create amazing content that their audience enjoys at the correct time and frequency to maximize their social media reach.
The third aspect of social media marketing is social listening and engagement. Conversations about a company’s brand will increase as their 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 keep an eye on social media talks about their brand. Companies have the opportunity to surprise and delight customers, leading to positive comments.
Otherwise, by identifying negative comments, they can assist and address a problem before it worsens. Companies can also manually check all of their social media notifications, but this is inefficient, and they won’t see posts that don’t include their company’s social media profile. Instead, they 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.
The fourth step for effective social media marketing is analytics and reporting. Companies will want to know how their social media marketing is performing throughout – whether they are publishing content or engaging on social media. Companies need to see whether they are reaching out to more individuals on social media this month than they were the last month. Additionally, they need to see how many positive reviews they received and how many people utilized the hashtag associated with their brand in their social media posts.
The social media networks themselves tend to supply some of this information in rudimentary form. Companies can also use the extensive range of available social media analytics tools to gain more in-depth analytics information or compare performance across social media platforms.
Last but not least is advertising. Companies might explore social media advertising when they have more finances to expand their social media marketing. They can advertise on social media to a larger audience than just those who follow them. Nowadays, social media advertising platforms are so powerful that they can target specific audiences with their adverts. Target audiences can be created based on demographics, interests, behaviors, and other factors. Let’s assume a company has multiple social media advertising campaigns operating simultaneously. In this case, a social media advertising tool can be used to make bulk modifications, automate operations, and optimize ads.
The relationship between cryptocurrency and social media
Cryptocurrency is spreading everywhere, from 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 and cryptocurrency has dominated headlines for a long time, this isn’t surprising
In reality, social media is where 2/3 of American people acquire their news.
As a result, digital currency has grown in popularity. Social media marketing isn’t a new concept for marketers. For example, one of the most popular social ad options for reaching a vast target audience is Facebook. In reality, Facebook is examining the potential of cryptocurrencies to expand its business. With over 2 billion monthly active users, Facebook can drive mainstream adoption of anything.
The future of the crypto-social relationship is bright as long as cryptocurrency articles, news, and updates continue to dominate social media news feeds. At the moment, social media and other media outlets can influence cryptocurrency price fluctuations for better or worse.
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 getting 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. Bitcoin, for example, owes a lot of its popularity to the social media site Reddit.
Reddit is, in fact, one of the most popular social influencer sites. On Reddit, everyone, from crypto enthusiasts to crypto analysts, may be found sharing their knowledge. The Bitcoin subreddit, for example, provides lots of information on cryptocurrency.
While it looks like social media and forums will continue to influence the future of crypto, the question remains whether it will actually happen. Since social media continues to influence almost everything in our everyday lives, digital currency and blockchain technology have started to make their impact in the social space.
The future of cryptocurrencies may be defined by utility rather than precise coin value. The role of society on influencing cryptocurrencies is being reversed, with the potential use of blockchain technology in numerous industries just around the corner.
The current social media structure could 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. There will be 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. Secondly, current social media networks capture user information and sell it to the highest bidder, thanks to everything from hackers to government-sponsored information sharing. 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.
Users will be able to pay in a variety of ways, all of which are secure. Using Basic Attention Token (BAT) methods, advertisers can generate more leads and obtain more customer data.
Undoubtedly, social media has 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 outmoded business procedures. However, the balance appears to be shifting. Crypto-based social platforms are gaining popularity, addressing many of the problems traditional social networks pose for 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
1. Reddit
Reddit is, without question, one of the essential sites for the cryptocurrency community. In fact, 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 the type of person 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.
2. 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.
3. 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.
4. Twitter
Twitter is the most well-known social media platform on this list. Crypto and NFT influencers like 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.
5. 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. This education has taken the form of Jimmy Song’s ‘Why Blockchain is Hard’, Reserve’s Analysis of the MakerDAO Protocol, and more.
6. BitcoinTalk
BitcoinTalk is best known 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.
When promoting a project, the first step is to build a list of all social media channels where you may locate your followers and investors based on the topic and audience. It’s crucial to understand exactly where your project will be acceptable and attractive on the network 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, optimized for visual, graphic, or text material. Indeed, a beautiful image is secondary for a product in the Fintech or blockchain categories.
As a result, Twitter, LinkedIn, Quora, and Reddit should be on your shortlist. Be careful with Facebook. The company’s attitude toward blockchain and crypto projects is in flux, and your ad campaign or the page could be suspended at any time.
The first three social media platforms can be used to reach an extensive range of people. Informal communication is promoted on Facebook and Twitter. 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. According to the majority of publications on promoting crypto ventures on Quora, it is a must-have channel.
Of course, any cryptocurrency firm or product must have its own Reddit account.
In the second half of 2018, Google Corporation, followed by Facebook and Twitter, outlawed any cryptocurrency advertising. Despite this, advertisements for crypto projects can still be found on these platforms. You simply need to be extra careful about adhering to their regulations.
Twitter is a unique social media platform that focuses on brief text messages.
The Twitter audience is constantly active in terms of comments, retweets, and reposts to their other social media accounts. The main goal is to grow your number of followers and subscribers organically. As a result, you can start 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, but it will not provide you with lasting results. You will obtain a massive influx of users for a relatively modest price for such a service, but you will be guaranteed zero engagement and conversion.
Twitter does not offer a lot of help with gaining new users. This is particularly troublesome for projects that already have a working product, for example, an application (mobile or desktop).
If you have $1000 to spare, you may 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 Airdrop campaigns, which will bring people to your account for nearly nothing and many times more.
If you haven’t already heard, Facebook has outlawed the direct promotion of cryptocurrency projects on its platform. However, it is well known that there are ways to circumvent the ban, but only with the assistance of a licensed advertising firm or 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, but Facebook reviewers will reject 100 percent of your advertising. The expense of hiring a professional firm to get around such restrictions starts at $5000. Your Facebook followers can also come from organic traffic generated by an Airdrop / Bounty campaign.
On LinkedIn, your best bet 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 the platform doesn’t guarantee a particular outcome.
Yes, experimenting with LinkedIn is a time-consuming and meticulous task. Nevertheless, it can do wonders for the visibility and credibility of your crypto project.
Quora
You may acquire numerous installs for $ 0.79 each using Quora advertisements.
You should focus on 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. As a result of this approach, your project will be able to attract a particular number of users. Finally, Quora is an effective guerrilla marketing technique, but it takes time and is ineffective in terms of install conversions.
In general, two objectives must be completed before any startup, including a crypto startup, undertakes social media marketing: understanding the idea and attracting investor interest.
In the first situation, you must outperform your competitors; in the second, you must demonstrate that the startup is viable and that the founders are not con artists.
A week would not be enough to complete such a large scale 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 the success of attracting investors and generating the required finances. In most cases, failure to attract investment is linked to technical faults and poor contact with your audience. It could also build down to 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 techniques include:
- The formation of themed groups and the enticement of 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 skyrocket.
- Subscriptions, likes, and following are all shared. Many people on social media are willing to give you likes, tweets, and other services. You’ll have to like the other person’s content as well. However, keep in mind that this should only be done at first to create the illusion of a promoted page or group. This is not the intended audience; they will vanish if you stop following each other.
- Look for and join competitive groups and communities. If you identify groups in your niche with a live audience, you may participate in their conversations and refer them to your page or group in the comments. However, you should only do this after you’ve already built a rapport with them and made no-stings-attachd contributions to ongoing conversations.
From the outside, this is a large-scale project that will take a long time so that advertising companies can provide similar services. Creating a subject 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.
Expect not all input to be favorable, though: constructive criticism is just as valuable in terms of helping you improve your product. 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 is required as 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 (with the only common factor being their use of the platform, since their friends are on it). Communities are centered on a single issue. You can bring some users from social media to our platform and create a community around your project.
Conclusion
If you want to direct attention to your crypto project, simply generating fascinating content on social media will no longer suffice; you will need to purchase social media ads in one form or another. New project developers must identify the project’s promotion goals and devote time to creating fascinating and valuable content that can subsequently be shared on social media.
This kind of content attracts a genuinely loyal audience that is interested in the brand’s expertise and products. In terms of the crypto industry, social media marketing is similar to any other field, with a bigger focus on the platforms that will be utilized.
How Pressfarm can help
The team of PR experts at Pressfarm has experience working with brands in the crypto 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.
Curious about the work that Pressfarm has done for previous clients like you? Check out this portfolio that highlights some of their previous client work.