The Full Guide to Strategic Fundraising with KOLs in the Crypto Space


6 min read
Feb 26, 2024

If you have recently launched a crypto project or plan to launch one anytime soon, you probably already know the importance of building and growing a crypto community. Whether your crypto project revolves around cryptocurrencies, blockchain platforms, tokens, crypto exchanges, or wallets, a crypto community can help you develop and sustain a network to attract investors.

Make no mistake, building and growing a strong crypto community is not just about numbers; it's about creating a vibrant ecosystem that fosters trust, collaboration, and innovation. So, how do you do that? In this post, we'll discuss how to build a crypto community strategy.

How Can You Build Crypto Communities?

The crypto space is dynamic, with endless developments. A healthy community should actively announce product updates and swiftly address concerns.

Consider establishing a platform where members can share their expertise, fostering engagement and expanding the customer base. The key is to involve as many individuals as possible in these discussions. Real-time conversations can delve into technical intricacies and member preferences, enriching the overall community experience.

Here are a few ways to build your crypto community for your crypto project:

1. Craft Your Project’s Story

Your project's narrative is a powerful tool to showcase its goals and advantages. It should captivate both new and existing community members, drawing them in with an intriguing tale. Your story can educate members about how your project benefits them and society as a whole. Initially, focus on aligning your team with the project's beliefs, values, and concepts.

Consider the compelling narrative of Bitcoin. It tells the story of a new asset class designed to liberate people from a monetary system that favors the wealthy and marginalizes the less fortunate. This new asset class is Bitcoin, powered by the revolutionary blockchain technology.

The Bitcoin story emphasizes that this asset ensures fair treatment for everyone. It prevents anyone from using Bitcoin as a tool to oppress others.

The transformative Bitcoin narrative has converted skeptics into its most passionate advocates.

2. Create a 14-Day Plan

The fast-paced nature of crypto makes it challenging to create a long-term 30/60/90-day community engagement plan. Instead, begin with a focused 14-day plan. Define clear targets and goals for this sprint, starting with the following objectives:

  • Define Objectives: Set clear goals for the next 14 days
  • Resource Check: Assess available team members and tools.
  • Content Plan: Create a schedule for videos, graphics, and GIFs.
  • Audience Focus: Identify your target audience and their interests.
  • Social Media Strategy: Choose the best platforms to engage your audience.
  • Budget Planning: Allocate funds for content creation and promotion.
  • Execution: Start implementing your plan.
  • Monitor and Adjust: Keep an eye on performance and make changes if needed.

3. Use Social Media and Communication Channels

Selecting the most effective communication channels for crypto communities depends on the project's nature and the target audience. Here are some popular social media platforms:

  • X: Share quick updates and network with crypto enthusiasts.
  • Telegram: Create private groups for personal discussions.
  • Discord: Engage in real-time voice and text chats for project collaboration.
  • Reddit: Host discussions and gather feedback from a broad audience.
  • YouTube: Create educational videos to explain concepts easily.
  • Medium: Share detailed articles to build authority in the crypto space.
  • LinkedIn: Connect with professionals and potential partners or investors.
  • Steemit: Utilize blockchain rewards for content creation and community building.

4. Create Quality and Engaging Content

To build a thriving crypto community, you need to create engaging content that resonates with your audience. Whether it's through articles, blog posts, videos, or podcasts, offer your audiences valuable insights and information about cryptocurrency that addresses their questions and interests.

This approach not only helps you establish credibility within the community but also attracts followers who resonate with your content. By consistently providing valuable content, you can build a loyal community and position yourself as a trusted authority in the crypto world.

5. Develop an Effective Community Management Strategy

If you are selling an NFT, craft an effective community management strategy. NFTs offer a direct opportunity for monetization in the creative world. Whether you're targeting the crypto folks or just people who want to trade, you need a focused community management strategy. It requires patience, time, and meaningful planning.

As you develop a token community strategy, you should know your goals. Maybe you want to grow the users, promote protocol to more developers, or raise liquidity. The best approach is to sit down with an internal team and discuss what your goals should be.

Educating new users is also vital. That's why you should make it easy for newbies. Another strategy is to cover your community 24/7. With round-the-clock coverage, the investors won't get lost in the flood of communities out there. Of course, you have to give the members a reason to come back. You can organize events and challenges or give tokenized rewards.

5 Tested Ways To Promote your NFT Marketing Project

6. Encourage community-generated content

Encouraging your community to generate content can be a game-changer for your project's visibility and engagement. Community members can share ideas, fostering a continuous flow of content from one another.

Start by inspiring your community to create content about your project, engage in discussions, and share their creations on social media. Empower community members with the necessary tools and resources to easily produce and edit images, gifs, articles, videos, and other content within your platform.

Showcase user-generated content on your official social media accounts and other platforms. Tag the creators, reshare their content, express gratitude for their contributions, and encourage them to continue creating. This approach not only celebrates your community but also motivates them to remain actively engaged.

How to Grow Crypto Communities?

7. Incentivize and Encourage

Encouraging user engagement through rewards is essential to grow your community. Introducing friendly competitions can help boost your visibility and generate positive PR. Consider implementing a virtual currency system within your community to reward users for their sign-ups and activity on the platform.

You can also organize social media contests, AMA events, meme contests, trading competitions, and free giveaways.

8. Protect Your Project

No matter how efficient you are, there will be some disputes. However, once the community understands the game, there could be fewer complaints about the direction of the project.

9. Integrate with Third-Party Apps

There are many ways you can improve community functionalities. You could hold a hackathon, add polls, or integrate with third-party apps. Some of the leading apps include Hubspot, Marketo, Slack, and Discord.

10. Collaborate With Other Projects

While this may sound counterintuitive, collaborating with other projects in the crypto ecosystem helps you grow your community. Also, it allows them to discover new opportunities and tap into a broader community of followers.

11. The Network Effect

You should invite the community members who are interested in your project. To tap into the network effect, you must be clear about your milestones and how to get others involved.

12. Track Your Community Performance

Regularly monitoring the performance of your cryptocurrency community-building efforts is crucial to ensure you're meeting your goals and making necessary adjustments when needed.

Integrate advanced tracking tools into your campaigns to monitor their performance and results efficiently. Tools like Google Analytics and Webmaster can provide valuable insights.

If you observe positive growth in your vibrant community, continue with your current strategies. However, if you notice a lag, be prepared to tweak your approach. Modify your marketing strategy to incorporate the necessary changes and align them with your objectives.

13. Recruit Brand Ambassadors

Brand ambassadors play a crucial role in strong community building. They can engage with the community, organize events, and promote your project.

Consider recruiting ambassadors from within your community who can help market your project effectively.

Identify prominent community members as potential ambassadors. Their visibility can attract attention from potential investors.

14. Get Professional Help

It is always better to leave your crypto community strategy activities to crypto community management professionals. Lunar Strategy is a leading community management agency that offers a comprehensive list of services, like SEO and social media marketing, to help you build a strong and vibrant crypto community.

How Do You Manage and Maintain Your Crypto Community?

Once you have built and grown your cryptocurrency community, proper management is essential to ensure the continued growth of your project. Generally, bigger communities have volunteers who keep things in order. The presence of official representatives will help to engage the community and instill confidence in the crypto project.

But instead of relying on third-party apps, a good crypto community management agency will help you manage conversations. The team will provide you with a roadmap to achieving your goals. Even better, you'll reach out to new users and answer swiftly without missing anything.

Another perk that comes with letting a professional company like Lunar Strategy maintain and manage your crypto community is that it allows for customization. This means that you can create a user-centric experience via widgets and API.

By facilitating communal support, professional community managers can reshape the customer experience. The online community members come from different backgrounds and experiences. For instance, don't be surprised if some users question the legitimacy of your project if you have no Telegram community. This is because the platform allows members to connect with the core teams. A crypto community manager knows how the community works.

How Does an Active Crypto Community Determine the Value of Your Crypto Project?

The value of a cryptocurrency is determined based on supply and demand. The demand for a coin depends on various factors, like transaction speed and processing fees. On the other hand, supply is determined by the number of coins available for sale and those yet to be mined. This is when a crypto community helps you out by letting you participate in the supply and demand cycle.

Establishing a thriving community can be challenging, but distributing tokens widely can help maximize reach. However, due to government regulations, many startups restrict token sales to accredited investors. To ensure decentralization and broader participation, allowing open access to mining, independent of token pre-sales, makes sense. This approach democratizes access to cryptocurrencies and aligns with the decentralized ethos of the crypto space.

FAQ's About Crypto Community Growth

What is a crypto community?

A crypto community represents a dynamic ecosystem where individuals, organizations, and ideas converge to champion cryptocurrencies, blockchain technology, and decentralized finance. These communities manifest through diverse platforms, including online forums, social media groups, meetups, and DAOs, fostering collaboration, knowledge exchange, and innovation.

A crypto community serves as a pivotal hub for networking and professional development, connecting individuals from various backgrounds to the vast opportunities within the crypto space. Such a community helps ideas flourish, cultivates relationships, and boosts the collective drive toward advancing crypto technologies.

2. Why are communities so important in crypto?

In the crypto market, community is everything. It's where trust is built, knowledge is shared, and adoption is nurtured. Communities create a sense of belonging, making users feel valued and heard. They also serve as a vital source of feedback, helping projects improve and evolve.

Plus, they're a great way to spread the word and attract new users, growing the community and the project's impact.

3. How do you get crypto followers?

To grow your crypto following, adopt the best crypto community building strategies, like sharing interesting and helpful content, engaging with the community on social media, joining discussions in forums, and being consistent in your communication.

Networking and providing value are key in the crypto industry, so attend events and offer insights that resonate with people. Building relationships is crucial, so be genuine and focus on building connections rather than just gaining followers.  

Tim Haldorsson
CEO of crypto and Web3 marketing agency Lunar Strategy, involved in the crypto scene since 2017. Provides forward-thinking Web3 marketing insight as a contributor to Cointelegraph, Rolling Stone, Daily Coin, NFT Plazas, and Finance Magnates.
Jack Haldorsson
CMO at Lunar Strategy. Been in the crypto space since 2017. Jack leverages his know-how of the blockchain ecosystems and strong KOL relationships to execute result-focused strategies that amplify brand storytelling, drive awareness and grow the project sustainably with the help of Influencer relations.
Adam Westerén
Head of Sales
Adam's passion is to create self-sustainable communities in the Web3 world. He enjoys when you create a Web3 community that can grow by itself. This is what he does in his current role as Head of sales.
William Rejström
As a Community Manager at Lunar Strategy, I'm passionate about finding new ways to connect people, add value and build strong community relationships.
Shann Holmberg
As head of growth at Lunar Strategy, I understand the significant shift away from traditional marketing strategies that Web3 projects require.
Nick Ballanutsa
Crypto Content Creator
Crypto Content Creator, Nick is creating engaging Twitter threads & posts for leading crypto & NFT companies.
Vide Haldorsson
Influencer Manager
Influencer Manager at Lunar Strategy.
Johnny Pedro
Head of Partnerships
Head of Partnerships at Lunar Strategy, creating win-win solutions for Web3 companies. You might have heard his music on Tomorrowland from his previous ventures in the music industry.
Jarrod Frankel
Head of Community
Jarrod is responsible for the teams that provide both engaging social media content and enticing and informative articles for our clients.
Tayler McCracken
Editor at Coin Bureau
Tayler McCracken is the Editor-in-Chief of the Coin Bureau, a leading publication that provides cryptocurrency education.
Vineet Nair
As a web3 storyteller, Vineet brings a wealth of experience in content, journalism, and management, with hands-on knowledge of metaverses, NFTs, AI, and finance.
Hassan Shafiq
Lunar Strategy
Lunar Strategy.
Mairead Finlay
British writer specialising in NFTs, luxury lifestyle & travel based in Portugal. Previous publications include Business Insider, LoveEXPLORING, The Guardian and My French Country Home Magazine. Previously the SEO Editor of tech & startup website TechRound.
Sandra Vukovic
Content & Marketing Specialist
Content & Marketing Specialist at Lunar Strategy.
David Kevin Jeppesen
Lunar Strategy
Raised in the spring of technology, solving problems and finding simple digital solutions is part of my nature. I’m a teachable individual who is always eager to learn and develop as a person.
Julieta Ose
Crypto Content Creator
Crypto Content Creator at Lunar Strategy.
Gino De Graaf
Google Ads Specialist
Google Ads Specialist at Lunar Strategy.
Sam Runge
Media Manager
Lunar Strategy.
Your Guide to Crypto & NFT Influencer Marketing For Your Next Project
Your Guide to Crypto & NFT Influencer Marketing For Your Next Project
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What is the Best Marketing Budget for an NFT project?
What is the Best Marketing Budget for an NFT project?
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