Xangle IR Management No. 3: How to Promote Your Project – Community Management
Hopefully by now you see how important IR Management is for the success of a business of any size. Specifically in the context of a crypto asset business, however, the stakes are especially high due to the community-based nature of the industry. In our last article, we talked about the difficulties that projects encounter as a result of the language barrier when expanding internationally, and how Xangle can help.
Today we will look at community management, one of the most fundamental aspects of marketing for blockchain projects. Community management entails a considerable amount of time and resources due to the many considerations about manpower, cohesive message, availability of assistance, and general crowd control to cultivate the community that suits your project best. It all begins with the platform you use, such as Telegram, Twitter, WeChat, or KakaoTalk.
In the crypto scene, communities are much more than simple investor chatrooms.
In these communities, users become acquainted with the atmosphere surrounding the project and learn about it by receiving the latest updates and communicating with others about the project. Also, projects that wish to instill the most accountability and transparency have the core team join and engage with the community.
Communities also act as the first channel for promotion and marketing. IR activities like AMAs, Airdrops, and conferences are promoted by and mostly take place in these online communities. Since they represent a valuable resource to a project, the strength of their communities are often included as a criterion which potential investors use to evaluate a project..
The community truly is the face of a project. Failing to cultivate an open and friendly community poses a threat to a project’s growth potential. Below are some of the major challenges projects face with community management.
1. Projects need to find the right community manager (CM). On channels like Telegram or KakaoTalk, community managers need to communicate with users 24/7. Depending on how CMs manage the communities, they can either improve or degrade the image of a project. CMs are not just there to post morning greetings to users. They require a broad understanding of this industry and the project. Above all, they need to understand the impact their words have on the project and how the actions of others in the community reflect on each member of that community.
2. Projects must devote a lot of effort in expanding their communities and the number of users. The bigger the community, the bigger the effect is likely to be, meaning that a larger community is better than a smaller one. It isn’t so easy, however, to gain 100k followers on Twitter or Telegram.
3. Community managers constantly struggle to bring to the communities fresh, new events. With these events, members develop a closer connection to the project and develop a sense of belonging to the community. However, foreign projects need to localize their events with regional CMs. Here, community managers and their experience play an important role.
At Xangle, we support projects in all aspects of their community management efforts from CM procurement to efficient management and promotion.
1. Community manager connection and provision
Xangle works closely with various marketing agencies and CM companies in South Korea. Upon a project’s request, Xangle can connect the project team with the community manager that best suits the size and characteristics of the project. Community managers connected with Xangle all have proven track records in the industry and past experiences of community management.
2. Xangle Alert Bot Support
Xangle Alert Bots were developed to provide Telegram channels a simple and efficient way to receive information about projects. Many project CMs actively use our Xangle bot. The bot sends official announcements from Xangle, which saves the managers the trouble of needing to repeatedly send messages.
Currently, Xangle Alert Bot supports 8 different commands for users to pull on/off chain data from the Xangle platform:
Project introduction / Community links / Partners / Disclosures / Price / On-Chain transactions / Blog posts / On Chain information
Also, with the bot’s push feature, recent disclosures from the Xangle platform automatically appear in the project’s Telegram room. Each and every disclosure on Xangle is verified by both the project team and Xangle – increasing industrial transparency.
Xangle Alert Bot is being used by over 70 different Telegram channels as of January, 2021.
※ Xangle Alert Bot is currently used by
Kava, KardiaChain, ARPA, FirmaChain, The Midas Touch Gold, Hedera Hashgraph, Polkadot, Fleta, Aavegotchi, ECOChain, Puriever, Solve.Care, Bella Protocol, Ravencoin, APM, Somesing, WOM Protocol, Castweet, Contentos, Bosagora, Precium, STP, Tokamak Network, TEMCO, Pica Project, and more.
(Xangle bot push disclosure on ARPA Telegram channel)
(Xangle bot pull feature on BOSAGORA telegram channel)
3. IR activities and project promotion through Xangle disclosures
When a project shares their updates with their community, Xangle disclosures increase their reach. Xangle is a disclosure platform for all investors and crypto assets projects! By announcing project news on Xangle, projects can more than double their reach.
Once Xangle issues a disclosure, it is distributed to all of Xangle’s connected Telegram channels. Disclosures also appear on the Xangle T!cker, which are used by several exchanges including Bithumb, Bitfinex, Flybit, and Gopax, and media platforms.
Let us take a look at an example. Below is a Xangle disclosure created by Bella Protocol.
Bella Protocol released a disclosure regarding their AMA on November 10th, 2020. The disclosure contains details about the AMA, such as its date & time, the link to participate in it, and its purpose. The Bella team themselves applauded the effect that this particular disclosure had in generating awareness of the AMA and for being responsible for attracting a significant portion of the participants. Bella Protocol continues to post disclosures about their IR activities to this day.
Projects can submit disclosures about future events and recaps of past events, as well. This way, projects can efficiently provide information to users who miss certain events, or those with questions about the project in general. Below is an AMA recap disclosure by the BOSAGORA project.
As you can see, the disclosure includes the questions and answers from their AMA. Users who cannot participate in an AMA draw great benefit from a disclosure like this.
At first, community management may appear trivial to a lot of projects; however, as projects grow, they find that they truly need to invest a great amount of resources in community management if their project has any chance of extended success in the crypto assets industry. In a blockchain business, community management is as important as any other part of the operation, and sometimes plays the first steppingstone to a successful project.
So contact Xangle and start your efficient community management!