Tim Haldorsson, as the CEO of Lunar Strategy, I often get asked what social media does for Web3 projects. The answer is simple: social media builds community.
And that’s important for two reasons. First, a project’s success depends on the engagement of its community. Second, a project’s community is its most valuable asset.
Think about it this way: a project is like a house. The community is the foundation. The stronger the foundation, the more stable the house.
The same is true for a project. The stronger the community, the more stable the project.
So, how do you build a strong community?
The answer is simple: by being active on social media.
When you’re active on social media, you’re able to engage with your community directly. You can answer their questions, address their concerns, and build relationships with them.
In other words, you can create a connection with your community. And that connection is key to building a strong community.
However, what many people don’t realize is that being active on social media is about more than just posting updates about your project. It’s also about engaging with other members of the community.
For example, if you see a post about your project on Twitter, don’t just retweet it. Take the time to reply to the person who posted it. Or, if you see a question about your project on Reddit, don’t just upvote it. Take the time to answer the question.
The Real Power Of Social Media
Before jumping into Web3 I was involved in a number of other large-scale online communities in the Web2 world. And the most notable thing I’ve noticed is that the most successful projects are always the ones with the most engaged communities.
For example, take a look at the two most popular social media platforms: Facebook and Twitter. Both platforms have massive communities of engaged users. And both platforms are extremely successful.
Now, compare that to a platform like MySpace. MySpace was once the most popular social networking site in the world. But it failed to keep its community engaged. As a result, it lost users to Facebook and Twitter. And today, it’s a shadow of its former self.
The lesson is clear: engagement is key to success on social media.
But engagement is not a one-way street. It’s not enough to simply engage with your community. You also need to give your community a reason to engage with you.
And that’s where content comes in.
Content Powers Your Social Media
Content is the fuel that powers social media engagement. without it, there’s nothing for your community to engage with.
Think about it this way: if you were to stop posting content on social media, what would happen to your engagement? It would plummet. Why? Because there would be nothing for your community to engage with.
So, if you want to build a strong community, you need to post high-quality content on a regular basis.
Fortunately, there are a number of different types of content you can post on social media to keep your community engaged.
For example, you can post:
- Updates about your project
- Articles about your industry
- Videos about your project updates
- Infographics about your project features
- Images about your project
The key is to experiment with different types of content and see what works best for your community. That’s what our team of social media specialists is doing at Lunar Strategy and you can check our entire process here.
Social Media Amplifies Your Web3 Project
Another reason social media is so important for your Web3 project is that it amplifies your reach.
Think about it this way: if you have a community of 100 engaged users, and each of those users has 100 followers, then your reach is 10,000 people.
Now, imagine if you could get just 1% of those 10,000 people to become engaged users. That would give you a community of 100,000 engaged users. And if each of those users had 100 followers, your reach would be 10 million people.
The power of social media is that it allows you to reach a massive audience with relatively little effort. And that’s why it’s so important for your Web3 project. This is why I wrote this book on Web3 marketing that highlights the importance of social media.
Social media is a powerful tool that can help you build a strong community around your Web3 project. But it’s not enough to simply be active on social media. You also need to engage with your community and give them a reason to engage with you.
And the best way to do that is by posting high-quality content on a regular basis. If you can do that, you’ll be well on your way to success. Also, if you can’t do it yourself, Lunar Strategy is here to help you on your way to social success.