The Advantages of Community-Driven Marketing for Your Crypto Business
Stephane Tadum is a best-selling author and blockchain enthusiast with a passion for innovation. He’s a creative marketer and expert in cryptocurrency, having been one of the first to receive advanced training in bitcoin and blockchain at an American university in Switzerland. Stephane’s mission is to make complex cryptocurrency concepts accessible to everyone through his writing.
What's that? How does it work?
In the world of crypto, where innovation meets competition, it’s crucial to find an effective marketing strategy that sets you apart. Enter community-driven marketing, the approach that leverages the power of social media, educational initiatives, and direct communication to build a passionate and engaged community. Explore the five key benefits that this strategy offers for your crypto business, from increased funding and improved products, to up-to-date market insights and credibility in the market. Nurture your community and watch your project soar with community-driven marketing.
Web 1.0 (1960-2004)
In the early days of the internet, it was primarily used as a source of information and businesses relied on traditional marketing methods such as TV, radio, newspapers, and street advertising to promote their products. The booming economy allowed people to purchase more goods and new innovations were being developed constantly.
Web 2.0 (2005-2015)
With the advent of social media platforms like Facebook, YouTube, WhatsApp, Google, Amazon, and eBay in the mid-2000s, the internet became more interactive. Billions of people were now able to connect with each other, and industries such as e-commerce, MLM, drop-shipping, and coaching began using online ads and influencer marketing to sell their products and services.
Web 3.0 (Since 2016)
Since the advent of blockchain technology in 2016, its potential has been widely recognized. This technology allows for the creation of cutting-edge products such as NFTs, cryptocurrencies, and DAOs, generating a lot of excitement and interest. However, with the thousands of projects being launched daily, standing out in the market has become increasingly challenging. The solution lies in building a community of people who understand your project, educating them about it, and keeping them engaged as your project evolves.
So, why is community-driven marketing the best marketing approach for your crypto business? Let’s take a closer look at the five key benefits it provides.
Generates Funds for Your Project
When seeking funding for your project, investors will always want to know if there’s a market for it and if that market is qualified. A strong community increases the likelihood of attracting investment for your project, making airdrops, ICOs, and IPOs popular and widely used in the crypto world.
- Improves Your Product or Service
Gone are the days of developing products in a vacuum, without considering customer needs. With the help of social media, you can receive quick feedback from your community and make necessary adjustments to your product or service.
- Keeps Your Product or Service Up-to-Date
The market is constantly evolving, and so are customer needs. Direct communication with your community allows you to stay informed about their changing needs and make updates to your product or service accordingly.
- Helps Market Your Project
In the past, marketing a new product or service required a substantial budget, particularly for startups. However, with the help of a passionate and engaged community, your project can gain momentum and be promoted globally, even on a limited budget.
- Builds Credibility
We’ve seen many projects in the crypto industry with limited value that are still listed on major exchanges or widely promoted through media outlets such as magazines, TV, radio, and the internet because they have millions of supporters. While community support may change as regulations take effect, for now, it appears that the community gives projects their value and credibility
For a crypto project to succeed, it’s imperative to develop a large and engaged community to support it.
Community-driven marketing is the way to achieve this, leveraging the power of social media, educational initiatives, and direct communication to build credibility and generate excitement. By nurturing your community, you can attract more funding, and increase the adoption and usage of the project. Additionally, a strong community can help in building partnerships, provide feedback and suggestions, and also help in troubleshooting technical issues. Hence, building a strong and supportive community is crucial for the success and longevity of your project.
More from Stephane Tadum
INTRODUCTION TO CRYPTOCURRENCY I: The Beginner’s Guide (French Edition)
Idriss Tsafack, a researcher in the field of financial markets and a senior bank analyst and trader with over 6 years of experience, writes the preface of the book. The author, Stéphane Tadum, is a passionate innovator, blockchain enthusiast, and creative marketer who was selected for advanced training in bitcoin and blockchain at an American university in Switzerland. The book represents a significant challenge for Stéphane, who has set out to make cryptocurrency accessible to anyone, regardless of their level of education. The book is one of the best resources to help readers understand the basics of the cryptocurrency and blockchain fields. It uses practical methodology to make complex concepts easy to understand, making it suitable for educational use at high school, college, and even in professional training.