Which Social Networks Should Blockchain Startups Use?

Blockchain technology is slowly entering our lives and experts predict that it is the future of the internet. However, it brings a few challenges to the table for the new companies. For a startup to succeed, the most important thing is funding the progress and finding users and audience to sell to. In one of our Medium posts we wrote about how Blockchain will affect marketing, and in this article, we will talk about how to use social media for blockchain marketing.

Challenges of the Blockchain Community

There are 2 major challenges when it comes to building your blockchain startup:

  • People don’t really understand what Blockchain Technology is.
  • They don’t trust it.

In order to overcome these challenges, the first thing you need to do is educate your audience and build trust.

Many people have heard about cryptocurrencies and mining and all they care about is how much money it will bring them. But Blockchain Technology is so much more than that. It’s an innovation, a new decentralized internet if you will, that offers transparency in the way that giants like Facebook and Google don’t. It’s a digital democracy, the way the internet founders intended it to be, where everything is shared and open for every user.

The Blockchain technology is disrupting a lot of industries – medicine, finance, education. This is why you need to educate people. That way you will make them see how the technology will help them and truly understand the nature of your business.

What people don’t understand, they don’t trust. There were many reports of scams connected to ICOs and crypto, so regular people started to think of them as just another fraud.

Besides educating, all serious Blockchain companies need to be transparent, because transparency is what blockchain is all about, it’s at the core of the technology.

Social Media for Blockchain startups

Social Media is a good way to connect with your potential prospects because they offer a two-way communication. What you need to understand is that you have to work three ways – with regular people that don’t have a lot of knowledge about the subject, the investors, and the tech geeks who will sometimes know even more than you.

To effectively share your message, the idea that you are explaining has to be very simplified. You can test this by explaining it to non-tech people and if they don’t understand it – simplify more. This is part of the education that you must give to people in order for them to know what your product is and why they need it.

So, which social network should you choose in order to engage with your #crypto audience?

Twitter

It’s the go-to network for blockchain companies because there everything happens at the moment. All the news announcements are being followed by the blockchain enthusiasts, as well as the blockchain authorities. Twitter is a good way to establish connections within the community and interact with your target audience. For example, Goldilocks uses it to emphasize how their technology could help other businesses.

Goldilocks uses Twitter to emphasize their technology's helpful aspect for businesses

What you don’t want to do though, is push content without any context. Instead, you should contribute to the conversation. This way you present yourself as an authority and not a salesperson. Join the ongoing twitter chats to reach out to the potential investors. Use Twitter to build relationships, to break the ice and direct prospects to content that really matters.

A good practice is to follow and retweet the authorities like for example Don Tapscott or Laura Shin. They share news and thoughts daily, and if you get them to retweet or mention you, your social media presence will go through the roof.

LinkedIn

A transparent social media network mainly targeted to B2B clients and many authorities (or authorities in the making) are present there. To add to the transparency of your company, link the LinkedIn profile of all executives to the webpage. This way, investors interested in your project can check the credibility of the team members and their expertise. This also builds trust that your company will deliver value, and is not a scam.

A good example is PATRON, a decentralized platform for influencer marketing. Their leader, Atsushi Hisatumi utilizes this platform to show his experience in marketing as well as blockchain. His ICO collected 40 million dollars.

Medium

This is a platform for blogging, so it’s a good place to share your content. It’s important to post regularly – once or twice a week. You can share with the world how awesome is your project, but make sure to also share content that people want to read.

It is essential to connect and get endorsed by the influential bloggers. The Blockchain community is very concentrated and highly relevant, so by being promoted by an authority blogger you can gain exposure, connect to a wider audience, and most importantly you gain credibility. But, be cautious, the audience can easily sense if the endorsement is based solely on financial gain. The followers come to the bloggers’ page to see valuable content, not a paid ad.

Telegram

Not a social media channel per se, but it is a good way to communicate with your audience. For any Blockchain startup, it’s a must to have an active group there. This encrypted messaging app is so popular in the blockchain community that they will start using cryptocurrency and it’s own blockchain platform TON (Telegram Open Network).

Discord

The most popular platform for gamers to communicate. They are one of the target groups of any ICO and by using it, you can get more exposure to traders and crypto enthusiast. Share the invitation on your webpage to gain maximum members. They can ask you questions and, if it’s possible, the CEO should answer for greater credibility.

Reddit

This is one of the best places your ICO can be. It is a place where you will get a lot of exposure and traffic and it’s a good way to enhance your brand and credibility. Here you must have content with excellent quality, otherwise, you will never get to the front page.

Facebook

You are probably asking why we haven’t mentioned Facebook so far. When it comes to the crypto community, Facebook is not that relevant. The target audience is not here, mainly due to the fact that Facebook banned all ads about cryptocurrencies and ICOs in January 2018.

However, what you can do to get the most out of this network is to create a page for the project. There you can publish posts that are relevant to your target group and engage them.

Some companies decide to circumvent the ban by using different target words or putting the ad copy in a photo, but we don’t recommend that at all. This might be considered as black hat promotion, and you might be perceived as not so trustworthy, something that is a pain point in the blockchain community. After all, this technology is based on transparency. The second objection to using Facebook is, as we mentioned before, your audience is not here, so you will waste time and your valuable content might go unnoticed.

What you need to do to bring people closer?

Social media, in general, is a good way for Blockchain companies to communicate their message because they get feedback on every action. This is a new technology that not everybody understands, but many people want to be a part of it. That’s why it’s imperative to be in constant communication with your target audience and prove your worth. Engage in discussions every time you get a chance, so that you can attract the influencers. And Don’t forget to educate and build a relationship with your future angel investors or customers.