Over 80% of people have stated that social media marketing efforts, especially influencer content, significantly impact their buying decisions. For this reason, marketers from multiple industries are evolving social media marketing from a standalone tool into a multifaceted source of marketing intelligence on a significant, growing audience.
Blockchain technology is considered a social innovation. It allows anyone to transact business online, confirm digital identities, and make passive income as long as they have an internet connection. This means that social media marketing is arguably the most important marketing channel that can be used to draw attention to a blockchain startup.
The flexibility that cryptocurrencies offer is being embraced by millions, if not billions, of people. The challenge has been figuring out how to reach this enormous audience and give them helpful information about their options. Thanks to the growth of crypto social media, learning about cryptocurrencies has become more accessible in recent years. After all, when information benefits the target audience, it spreads like wildfire.
When cryptocurrencies first debuted, word-of-mouth on social media platforms helped spread the news to a large number of individuals. The only issue was that many sites were not fully utilized because the founders of the cryptocurrency projects did not recognize the value of social media. However, now that there is sufficient information to support the notion that social media platforms offer enormous value, cryptocurrency companies are concentrating on creating a unique brand presence on social media. Today, it’s not enough for a project to be present on all social media channels. Tracking KPIs for every channel their marketing team uses for the brand are essential.
With adequately defined goals, a company can move forward to create a comprehensive social media strategy for its brand.
In this article, we will be looking at the importance of social media for crypto companies. We’ll also talk about some of the best platforms to find crypto thought leaders on. You can also use these platforms to stay connected about new projects and features.
Why social media presence is important for crypto companies
In 2022, it is challenging to imagine a world without social media. It now makes up a significant component of how people interact with one another globally and has become a major part of our daily lives. As mentioned, social networks have primarily been responsible for the emergence of cryptocurrencies and blockchain technologies. Thus, it is unsurprising that blockchain developers and cryptocurrency companies use social media sites targeted toward crypto enthusiasts to advertise and raise brand awareness for their projects. In recent years, the popularity of these blockchain-based social media platforms has increased.
Businesses and individuals are vying to meet the growing demand for expertise and information connected to cryptocurrencies. Facebook, Twitter, Telegram, and Reddit have been at the forefront of platforms for sharing information about the industry. Additionally, the sizeable blockchain-based business Ripple has shared lots of knowledge through webinars, and even a TV show called The Ripple Drop. Cryptocurrency platforms are currently surpassing traditional social media platforms as a means of promotion and growth. As a result, the future of crypto social media appears promising. Nowadays, most blockchain networks offer rewards to their members for participation and engagement on the vast majority of their social media channels.
The amount of brand exposure any cryptocurrency company may receive through these platforms is the most crucial reason for it to be active there. Recent data for 2022 shows that YouTube has 2.5 million users, and Facebook boasts over 2.9 million monthly active users. We cannot stress this enough – any cryptocurrency company that wants to engage with its customers must use social media. Therefore, they need to invest in a well-thought-out, detailed crypto social media marketing campaign.
Ways social media can help with a crypto brand’s presence
1) Reaches larger audiences
To reach a high number of followers on any social media, crypto companies need to be consistent, relevant and fill the void of valuable content that is not currently available online.
For this reason, investing in a good crypto content marketing strategy can be highly beneficial as these crypto social media platforms regularly promote content with a high engagement level.
2) Raises brand awareness
With more than half of the world’s population on social media, platforms like Facebook, Instagram, and Twitter are the most obvious choices for companies to connect with new and appropriate potential investors and audiences.
According to 83% of Instagram users, the platform introduces them to new brands and products that they were previously unaware of.
With this statistic in mind, it is clear that crypto social media provides the space and creativity for brands to attract potential customers and investors. As an overall strategy, it helps crypto companies efficiently drive their ICOs, IDOs, and token sales.
3) Helps build communities
The level of enthusiasm in the cryptocurrency space is immense. For this reason, many crypto companies are creating chatrooms, subreddits, forums, Telegram groups, and more to keep their markets informed and engaged.
Companies often encourage people to join these open groups on social media by promoting them there. For instance, GameStar Exchange frequently advertises its changes and fresh announcements for the crypto community on its Telegram channel.
4) Establishes thought leadership
One way for a company to lose credibility is to continually spam their crypto social media audience and followers with “opportunities” to invest in their crypto project. This is especially true if said company isn’t offering anything of value. Although this value might take many forms, companies should always aim to instruct, amuse, provoke thought, and elicit candid criticism.
Social media is the ideal platform for a cryptocurrency company to demonstrate its expertise in a particular field. The best way to do this is to produce awesome content that people will want to share. This is how prosperous cryptocurrency companies have positioned themselves as market thought leaders.
5) Provides customer support
Let’s assume followers, i.e., potential investors, know they can contact a company’s team via social media and are welcome to do so. Offering reliable customer support is a great way to provide excellent service to a large audience. It also allows companies to take on customer complaints and feedback head-on.
When customers experience excellent care and service, they will most likely end up writing great testimonials. This doesn’t necessarily mean that companies need to address all customer concerns on social media. However, they need to at least guide clients to targeted locations at the correct times.
Offering excellent customer service also establishes trust between a crypto project and its customers since they know the brand is not only approachable but also welcoming. This helps a brand build credibility.
6) Helps boost sales
A company’s sales funnel (the procedure of turning a new follower into an investor in their business) includes their crypto social media accounts. This is also known as social media selling in cryptocurrency.
With the continued rise in the number of cryptocurrency enthusiasts using crypto social media and the development of social sales technologies, crypto social networks will become increasingly crucial for discovering new projects. It will also be an essential channel for project developers looking to connect with investors. This means now is the best time for companies to connect their cryptocurrency social media marketing initiatives to their business goals.
The best social media platforms for crypto enthusiasts
As believers and investors have developed their specialized communities, the debate over the worth and future of these cryptocurrencies continues. As we’ve discussed, blockchain PR agencies and cryptocurrency marketing specialists are aware that social media is the most effective way to connect with the community. Let’s look at some of the most relevant platforms for crypto marketing enthusiasts and thought leaders:
1) Reddit
Reddit is the 18th most popular website worldwide and ranks fifth in the US with over 1.5 billion monthly views. Its strict rules and subreddit features attract the exact demographic that would be interested in cryptocurrencies and blockchain technology. Some of the most notable names in the field often spend time on the network. For instance, Vitalik Buterin responded to a piece on the price of ETH on the r/ethtrader forum. Reddit is undoubtedly one of the most significant social media sites for the cryptocurrency community.
2) Discord
Discord was initially created for gamers who wanted to communicate while playing. The platform is now widely used by developer teams, crypto marketing firms, and ICO investors. The most well-known Discord channel is the official /r/Cryptocurrency channel. However, there are also specialized channels where developers hang out and talk about new features or concepts.
3) Telegram
In late 2017, Telegram was the ideal platform for building communities within the crypto industry. It continues to be a well-liked platform for ICOs and airdrops. Developers can use this platform to keep their followers updated automatically. To make a good deal even better, the app also has robust privacy features that keep users safe. Unfortunately, users might have to filter through the spam and bots to get what they want.
4) Twitter
While it is the most mainstream social media platform on the list, Twitter’s influence makes it simply unavoidable for brands in this industry. The platform allows users to easily approach crypto thought leaders like Anthony “Pomp” Pompliano, Coin Center’s Neeraj Agrawal, Bloomberg’s Joe Weisenthal, and hedge fund manager Mike Novogratz.
5) Medium
This platform is known for some of the most compelling long-form content in the Twitterverse. The platform boasts content like Jimmy Song’s ‘Why Blockchain is Hard’ and the quirky ‘Reserve’s Analysis of the MakerDAO Protocol.’ Thanks to the valuable content on this platform, Medium is considered the best platform for crypto investor education.
Conclusion
When cryptocurrency was first introduced in 2009, only a tiny part of the population knew decentralized money was real and how it worked. The excitement around the industry is greatly influenced by popular magazines, influencers, and the cryptocurrencies themselves. Over the years, social media has dramatically impacted cryptocurrency awareness.
Undoubtedly, social media has played a big role in getting cryptocurrency the massive attention it has received. Companies worldwide are seriously considering using cryptocurrency and blockchain technology to improve many of their old-school business processes. There will be an evolutionary relationship between social media, cryptocurrency, and blockchain in the future, and it will happen at lightning speed. It will be interesting to see the journey both industries take moving forward.
How Pressfarm can help with your cryptocurrency project
Given how critical PR and marketing are to business growth in the crypto sphere, you should consider partnering with an agency with a positive performance record in the industry.
Pressfarm is a leading PR and marketing agency with a variety of services designed specifically for crypto projects. Whether your crypto project is just starting out or is already established, the Pressfarm team can offer you PR and marketing services designed to boost your project profile and earn public trust.
Pressfarm has been working with crypto developers for years now – as a client, you can benefit from proven strategies and industry experience.
The company has a massive database with a vast collection of different crypto media. Additionally, they have a wide network of industry partners who can give your business a headstart. They provide press release writing, email pitching, press kit design, targeted pitching, and content marketing services.
Pressfarm’s goal is effective PR outreach that’s affordable to their clients. So far, Pressfarm has helped dozens of crypto startups develop into major projects. If you’re wondering how Pressfarm can help a crypto project like yours, check out their case studies.