Currently, the crypto market is feeling the inevitable effects of the COVID 19 pandemic, and marketing power has also been reduced along with the market being volatile. However, we still see that some projects have seen great token sale success recently. For example, Sandbox raised $450,000 in 30 minutes in their third land pre-sale, which sold 10% of the total Land NFTs. Zeon Network raised a significant amount of funds during the last few months, totaling $11.2M.
We can easily find many similarities among these projects, as they all did outstanding work in PR and social media marketing. Also, community member stickiness was one of the most important contributors to their projects. These are all key points to drive a crypto project to success.
It should also be mentioned that due to the severe financial situation, many investors are waiting until there has been some kind of recovery and timing ahead for any investing plan. Before the market stabilizes, it will not be efficient enough for huge budget spends, which nowadays provides fewer guarantees of good returns. Compared to other marketing methods, community-building is more suitable from a cost perspective and will play a more important role, especially during the volatility of the current market due to the pandemic. Via community development and cultivation of the community’s dependence on a project, fundraising, listing, etc. can all benefit.
For example, some of the most popular projects, like EOS and NEO, have one thing in common: the secret to their success is to build their own community ecosystem first, and own a large number of followers, which will later help the project spread to the whole ecosystem and abroad.
This are important reasons why our firm is currently offering an all-inclusive 24/7 community-building package that includes AMA’s, Trading games, and more; Tokenminds
Below are the most important points we have summarized to focus on building an effective community:
Experienced community manager
This is the basis for community building. An expert community manager can save a lot of time dealing with all the issues during the project process. They know what clients are interested in and will provide the best solutions for interaction with the community members, make the community hot, and control all management work.
Community organic growth and promotion
Community growing services are the main services most companies will provide, but many times they cannot guarantee an organic way for boosting the community size. Via proper marketing, cross-promotion in other big channels, e.g., Facebook, Reddit, and blockchain groups, it is possible to get a good community size monthly increase.
Increasing engagement and activeness
We have also noticed that many projects have good ideas, marketing, and mature MVP, etc., but the community is silent. Seldom do people discuss and talk in these communities. This doesn’t mean the members don’t like the project, but is mainly due to the lack of strategy to make it active. New investors will also choose to join the community if they can see that it is active and has many engagements regularly.
Organizing events to raise interactions with community members
Another way to keep the project team and community members close to each other is to organize events often and keep up the interaction level with followers. This increases the stickiness as well as the marketing momentum for the project. This normally includes normal events like airdrop, bounty, and something unique like an AMA, which helps to bring both the team and the community together to discuss, present, and make good use of community support. Community members will become more familiar with the project info, goals, and all other details.
Trading Competition to increase the trading volume for listed projects
For listed projects, a trading competition to increase the number of token (coin) holders and generate trading volume is one of the good choices to make full use of the community. Many followers will not be valuable enough if they join the community and are not really participating in the fundraising and trading process. By organizing a trading competition, the community will become a real community that supports the project and achieves the win-win goal for both the project and its community members.
Summary: In the current project marketing environment, the importance of community and the community ecosystem is becoming more and more obvious. Projects can easily share their project progress with the community and regularly organize bounties, voting, etc. to achieve interaction between the two parties, cultivate community dependence, and establish a solid foundation for the success of the project.
TokenMinds, listed as one of the top 6 IEO marketing companies in 2019, has been analyzing the market and optimizing the strategies per the changes. We have a strong team of technical and professional experts as well as a deep network of connections that we harness to promote and grow your ICO/IEO/STO projects. We have helped over 35 projects with marketing and fundraising and raised over 75MM in the last 3 years. We provide PR & influencer marketing and fundraising services to projects like REMME ($20MM raised), BirdChain (1.5 MM raised), and Bezant ($27MM raised).