Community vs Followers | Crypto Marketing Q&A - Episode 1

Summary

In this insightful Q&A, the speaker clarifies the distinction between social media followers and a genuine crypto community, emphasizing that a community is built on a shared core desire among its members. They debunk the myth that every crypto project must have a community and highlight the importance of facilitating connections within a community for successful engagement. The speaker also addresses the possibility of converting followers into community members by creating opportunities for shared experiences and interactions.

Takeaways

• 😀 Building a crypto community is not a necessity for every project; success is possible without one.
• 🔄 There's a difference between followers and community members; the former just pay attention, while the latter share a core desire and interact.
• 🤔 A community is not just a group of strangers on a platform like Discord; it's a group with shared goals and interests.
• 🏆 The concept of a 'community' is often misunderstood, and not every project automatically has or needs one.
• 🛑 It's important to clarify that a community is not directly linked to business success; it's about shared desires and missions.
• 💡 Converting followers to community members is possible through shared interests and engaging activities that foster connections.
• 📢 The speaker emphasizes the importance of community engagement and the unofficial nature of becoming part of a community.
• 🤝 Community members bond over shared desires, which can be facilitated through live meetups and interactions.
• 📈 A crypto project can monetize community engagement through transactions and word-of-mouth promotion.
• 🚀 The speaker suggests that if a project lacks the knowledge or resources to build a community, it's better to focus on gaining users or followers.
• 📣 The video script is a call to action for viewers to ask crypto marketing questions via Twitter for direct responses.

Q & A

What is the main difference between a follower and a community member according to the script?

A follower is someone who pays attention to a project, possibly through social media, while a community member is part of a group with a shared core desire or mission, actively participating and engaging with others who share that common goal.

Is it necessary for every crypto project to have a community?

No, it is not necessary for every crypto project to have a community. Success can be achieved without one, especially if the project does not have the resources or knowledge to build a community correctly.

What is the misconception about crypto project communities mentioned in the script?

The misconception is that every crypto project automatically has a community and that every project needs to build one. In reality, a community is not directly linked to the success of a business and may not be necessary.

How can a crypto project convert followers into community members?

By facilitating interactions and connections between followers who share a common desire or interest, and by providing opportunities for them to engage with the project and each other, such as through Discord, meetups, or other community events.

What is the role of a shared core desire in building a community?

A shared core desire is the foundation that unites community members and allows them to form strong connections. It is the common interest or goal that members are pursuing, which can be leveraged to build a sustainable and engaged community.

Why might a crypto project want to build a community?

A crypto project might want to build a community to create a group of people who are deeply engaged with the project, can provide sustained attention, and may help spread the word about the project, potentially leading to more users or transactions.

How does the script describe the unofficial nature of being part of a community?

The script describes being part of a community as very unofficial, meaning that joining a community is not a formal process but rather a natural progression of engaging with others, enjoying the vibe, and wanting to be part of the group.

What is an example of a community that shares a core desire, as mentioned in the script?

The script uses the example of a Harley-Davidson or motorcycle community, where members share a core desire for freedom and the lifestyle associated with it.

How can a crypto project facilitate the bond between community members?

A crypto project can facilitate the bond between community members by organizing live meetups, creating opportunities for interaction on platforms like Discord, and providing content and activities that align with the community's shared core desire.

What is the importance of exposure in converting followers to community members?

Exposure is important because it allows followers to become aware of the community and its activities. By learning about and participating in community events, followers can become more engaged and eventually transition into active community members.

What advice does the script give regarding building a community without the necessary knowledge and resources?

The script advises against attempting to build a community without the necessary knowledge, knowhow, and resources. It suggests focusing on gaining more users or followers instead, as attempting to build a community without proper understanding could be counterproductive.

Outlines

00:00

📢 Crypto Marketing Q&A: Converting Followers to Community Members

The speaker introduces a new Q&A series on crypto marketing, inspired by questions received from their YouTube audience. They address a question about the difference between followers and community members in the context of building a crypto community. The speaker clarifies that not all followers are community members and that a community is a group of people with a shared core desire, using the Harley-Davidson community as an example. They discuss the misconception that every crypto project must have a community and emphasize that a community is not just a group of strangers on a platform but a group with a shared mission. The speaker suggests that while it's possible to convert followers to community members, it requires effort to facilitate connections and shared interests, such as through live meetups or other engagement activities.

05:00

🤝 Building Genuine Connections: The Essence of Community

In this paragraph, the speaker delves deeper into the concept of community, explaining that joining a community is an unofficial process where individuals naturally become part of a group due to shared interests and a positive vibe. They stress the importance of facilitating bonds between community members through activities like live meetups, which can help transform a mere follower into an active community participant. The speaker uses the example of Hugo Boss to illustrate how a brand built around a specific value, such as control, can attract a community with similar desires. They emphasize that while it's possible for a crypto project to be successful without a community, having one can provide sustained attention and potential for monetization through various means, including transactions and word-of-mouth promotion.

Keywords

💡Crypto Marketing

Crypto Marketing refers to the promotion and advertising of cryptocurrency-related projects, products, or services. It is integral to the video's theme as the speaker discusses strategies for building a community around a crypto project. For example, the script mentions the creation of in-depth content on a YouTube channel to educate and engage with the crypto community.

💡Community Members

Community members are individuals who share a common interest or goal and actively participate in a group or forum. In the context of the video, the speaker differentiates community members from mere followers, emphasizing that true community members are aligned around a core desire and contribute to the group's dynamics, as opposed to simply following a project on social media.

💡Followers

Followers in this script represent individuals who choose to receive updates or content from a particular source, such as a social media account or a project. The speaker clarifies that having followers does not equate to having a community, as followers may not be as engaged or share the same core values as community members.

💡Core Desire

Core Desire refers to the fundamental motivation or aspiration that unites a group of people. The script uses this term to illustrate what binds community members together, such as the shared passion for freedom in the case of the Harley-Davidson motorcycle community. It is a driving force that can be leveraged to convert followers into active community members.

💡Crypto Project

A crypto project encompasses a wide range of initiatives related to blockchain technology, such as exchanges, DeFi (decentralized finance) platforms, or NFT (non-fungible token) marketplaces. The video discusses the misconception that every crypto project automatically has or needs a community, which is not necessarily the case.

💡Monetization

Monetization in the video refers to the process of generating revenue from a community or project. The speaker suggests that a community can provide sustainable attention, which can be harnessed for monetization through transactions or word-of-mouth promotion, as illustrated by the hypothetical example of a crypto exchange.

💡Social Media

Social media is a collective term for websites and applications that enable users to create and share content or participate in social networking. In the script, social media is used as a platform where followers can engage with a crypto project, but the speaker notes that social media followers are not automatically community members.

💡Discord

Discord is a communication platform designed for creating communities, often used by gamers but increasingly popular among various interest groups, including crypto projects. The speaker uses Discord as an example of a place where a community can form, but emphasizes that simply joining a Discord server does not make one a community member.

💡Meetups

Meetups are gatherings of individuals who share a common interest. The video script mentions live meetups as a way to facilitate bonds between community members, suggesting that these events can help convert mere followers into active participants in a community by providing opportunities for personal connections.

💡Shared Mission

A shared mission is a common goal or purpose that drives a group of people. In the context of the video, the speaker explains that a successful community is built around a shared mission, which can help in converting followers into community members who are invested in the project's success.

💡User Engagement

User engagement refers to the level of interaction and interest users show towards a product or service. The script discusses the importance of user engagement in building a community, noting that a project can be successful without a community if it focuses on increasing user engagement through followership.

Highlights

Introduction of a new Q&A series on crypto marketing based on audience questions.

Differentiation between followers and community members in the context of crypto projects.

Clarification of the misconception that all followers are community members.

Definition of a community as a group with a shared core desire or interest.

Example of the Harley-Davidson community to illustrate shared desires.

Discussion on the necessity of building a community for every crypto project.

Explanation that a crypto exchange does not inherently need a community.

Community building as an optional strategy for crypto projects.

The concept that community members are interested in meeting and talking with like-minded individuals.

The possibility of converting social media followers to community members.

Use of the Hugo Boss brand as an example of building a community around control.

The importance of community engagement and the role of live meetups.

The unofficial nature of joining a community and the importance of the community vibe.

The potential overlap between followers and community members based on shared interests.

Advice on focusing on gaining users or followers if community building is not feasible.

Invitation for the audience to tweet questions about crypto marketing for future Q&A sessions.

Transcripts

good morning coffee ready to go let's do some  Q&A so here's the deal I get a lot of people who  

ask me questions about crypto Marketing in many  different ways because I have a YouTube channel  

where I make very in-depth content about marketing  so today I'm starting this new idea I'm going to  

take the last question that somebody sent me on  telegram yesterday I'm going to answer it and  

then in the future if you have a question about  crypto marketing tweet at me and I will reply  

quite simple without further Ado Molly sent me a  message on telegram saying gmgm sir I watched one  

of your YouTube videos on how to build a crypto  community and you said that community members  

and followers are two different things entirely  I would like to know if it's possible to convert  

followers to community members absolutely I will  break this down so that so that it's very clear  

what the difference is you are definitely going  to have overlap between who you know imagine  

a a VIN diagram right you're going to have your  followers and then you're going to have community  

members I will start off by saying that there is  a misconception that yeah that that that that all  

your followers are community members or that your  users are your community members this is not the  

case okay so what a community is it's a it's a  bunch of people that really are aligned around  

the same sort of core desire in life they're  sort of after the same thing so if you go and  

study you know like a Harley-Davidson Community  or you know the motorcycle community in general  

uh there's going to be a shared core desire  between all of those people and off of that  

you can build a community if you want so the  bikers for example it's all about Freedom now  

there is a misconception that every crypto project  whether it's an exchange or defi project protocol  

or uh or an nft project there is a misconception  that every project Number One automatically has a  

community and number two that every project needs  to build a community but that's not the case all  

right so if you take a crypto exchange for example  there's no like you can build a community but then  

you have to go out of your way and do it right  for it to benefit you but you don't have to have  

a community because a community is is not going  to be directly linked to your business in a way  

it's going to be hey let's get a group of people  like I always say uh Community is not a bunch of  

strangers in a Discord together a community is a  bunch of strangers in a Discord who want the same  

thing in life all right so so that's what that uh  shared core desire is the thing that allows people  

to very easily build strong connections so with  that said um you can absolutely be successful as  

a crypto Project without building a community and  if you did want to build a community the reason  

you're doing that is because you're going to  have this group of people who are on this shared  

mission in life and if you're able to make a an  association between that group of people and what  

you offer then you're going to have this group of  people where you have sort of a sustained you know  

sustainable attention from them so that you are  able to monetize that um in different ways could  

be through transactions right but it could also be  through them kind of spreading uh the word about  

you and getting more people into that Community  etc etc so that's just to clarify the difference  

right so a social media follower is just somebody  who's paying attention to your project but a  

community is a group of people who are there  because they have this shared desire and they  

are interested in meeting other people and talking  to them right so you can absolutely be a user of  

a crypto exchange and not be part of a community  that they might have right you see that now the  

question is uh is it possible to convert followers  to community members yes of course and I mean  

like I said there's going to be a ton of overlap  because if you are you know the example that I've  

given before is uh Hugo Boss For example the Hugo  Boss brand is really built around control and if  

you go and study their advertising I've got videos  on this you can look up if you want to really get  

to the bottom end but it's about control being  able to sort of control your own life Etc so you  

can build a community around that you know and  then you have uh somebody who's just following  

the Hugo Boss Twitter let's say because they like  their clothing now is it possible that the person  

who likes their clothing is also you know on that  same kind of shared desire like hey I want to be  

successful I want to be powerful is it possible  that a person who just likes their clothes also is  

interested in that that's like their main driver  in life yeah it's absolutely possible and you  

know joining communities is very often not some  official thing that you do right where it's like  

hey sign up here to be in the community um you  might join a Discord or something like that but  

even that is like just because you do that doesn't  mean that you are part of a community per se so  

I would say it's very unofficial to be part of a  community it's like you're in this group of people  

you're actually talking to others you are coming  back because you like the vibe you want to be part  

of this thing um and so it is very unofficial  in that sense so to answer the question like  

yes can you go can you get the person from hey I  just like their clothing to hey I want to be part  

of this group of people who wants to be powerful  and successful yes and you know how do you do that  

well you just got to let them know about it and  so when you have a community it's very important  

that you're doing things to facilitate the uh  the bond between these people right so that is  

very often going to be easier to do when there's  things like live meetups and stuff where people  

are actually getting to meet each other um so if  you're doing those types of things well then is a  

matter of you know exposure so the person who's  just following the Twitter account because they  

like the clothing well they need to know that hey  there's a Meetup coming and they need to know that  

I you know you might like what we're going to  be doing at this Meetup then they show up now  

they're in it now they meet somebody and then now  they're hooked right they met somebody that they  

really got along with now they go their separate  ways they go back to their normal lives they're  

keeping in touch because these people realize like  Hey we're on the same path in life we got a lot in  

common and so on and so forth so that is sort of  the difference between followers and community and  

like users of your you know your product and and  community and also how to kind of bridge that Gap  

right but I think the punchline that I want to get  across here too is that there it's not guaranteed  

that every project needs to have a community  like you can absolutely be successful without a  

community uh and if you don't have the knowledge  and the knowhow and the and and the resources to  

to build a community correctly I would say it's  better to not even try at all and just focus on  

like getting more users or getting followers  right which is just people paying attention  

to your project so Molly I hope that is helpful  and once again for others watching if you got a  

question about crypto marketing send a tweet at me  and I will get back to you cheers have a good day