Crypto / Web3 projects are all powered by community. Without community, they are nothing. The original blockchain – Bitcoin – has not just survived but thrived on the back of its community. The OG HODLers are true believers who kept believing through all the ups and downs.
For the crypto newbies, Community Management isn’t the run of the mill generic customer service and goes way beyond answering questions. Folks in crypto get the need for a whole new way of interaction.
Think about your favorite cult brand? Why do you love that brand? Here are some of our favorite brands:
1. Trust: It’s important to win user’s trust. Think about Apple – users trust Apple for their consistency and quality.
2. Vested Interest: Addressing the genuine interests of customers creates the energy required for community growth. Robinhood is a great example: a world-class one stop financial investment platform –customers can easily invest in stocks as well as crypto (although they have had their meme related challenges, Brands need to keep evolving).
3. Followership: Think about Nike vs Adidas or Apple vs Samsung. Distinct followership driven by products that users love – evoking loyalty and followership. This followership creates a motivated community that not only uses the product but also promotes it.
4. Sense of Ownership: the product becomes a core part of the users lifestyle and creates a sense of ownership. Users become unofficial ambassadors – think about OG Bitcoiners – they are always spreading the word, talking about its future-potential and even putting investments to make it grow. The network effect in play.
When all these factors are put together, the flywheel spins, creating trust, a sense of ownership and followership allowing brands to reap long-term benefits.