Right, so I’ve been digging deep into influencer marketing for token launches, trying to move past the usual ‘pump and dump’ mentality. You know, the kind where you just throw money at influencers, hope for a quick spike, and then watch the whole thing crumble? Been there, seen that – it’s not pretty. I wanted to find out how founders can actually build something sustainable with influencers, something that actually contributes to the long-term health of their project.
So, I managed to snag a chat with Megan, who’s been working on community building for a project I really admire. Here’s how it went down:
Me: Megan, thanks so much for chatting! Let’s cut to the chase – what’s the biggest mistake you see token founders making when it comes to influencers?
Megan: (Laughing) Oh, where do I even start? It’s definitely treating influencers like vending machines. You put in money, you expect a predictable output of hype. That might work for a fleeting moment, but it’s completely unsustainable. People see right through it.
Me: Makes sense. So, what’s the alternative? How do we shift to something more… real?
Megan: It’s about building genuine relationships. Think of influencers as potential community members, not just marketing channels. Before even thinking about payment, I try to find influencers who are actually interested in the project’s vision. I spend time getting to know them and their audience.
Me: Okay, that sounds great in theory, but how do you actually do that? I mean, how do you identify those genuine influencers?
Megan: Firstly, research. Deep research. Don’t just look at follower counts. Look at engagement rates, the quality of their content, and the kind of conversations they’re having with their audience. Are they genuinely passionate about blockchain technology, or are they just chasing the latest trend? Tools like Social Blade or SparkToro can be helpful for this, giving you insights into audience demographics and overlapping interests.
Me: Good point. What about reaching out? Do you just cold-email them?
Megan: Definitely not! A personalised approach is key. Referencing something specific they’ve said or done in the past shows you’ve actually done your homework. I often start by engaging with their content organically – liking, commenting, and sharing – to get on their radar before sending a direct message. Then, when I do reach out, it’s not just about pitching the project. It’s about starting a conversation. I ask about their thoughts on the problem we’re solving, and whether they think our solution would resonate with their audience. Remember, you are trying to find a fit, not just buy coverage!
Me: That’s a much more thoughtful approach than what I’ve seen a lot of other folks do. What about after you’ve built that initial connection? How do you keep them engaged long-term?
Megan: Transparency and collaboration are key. I provide influencers with exclusive access to project updates, involve them in community discussions, and solicit their feedback on new features. I encourage them to create their own content about the project – videos, articles, tutorials – that reflects their own unique perspective. We also give them opportunities to interact directly with the core team and community members, fostering a sense of belonging. The idea is to empower them to become advocates, not just advertisers.
Me: How do you measure the success of these long-term influencer relationships? It sounds like it’s more than just price action, right?
Megan: Absolutely. Price action is a vanity metric. I track community growth, engagement rates on influencer content (likes, comments, shares), website traffic generated by influencers, and, most importantly, changes in brand sentiment. Tools like Google Analytics, community management platforms (like Discord’s analytics) and social listening tools (like Brandwatch or Mention) are essential for this. You should also be looking at the number of people that are coming to the project organically as a result of the influencer involvement.
Me: Finally, what advice would you give to a token founder who’s just starting out and wants to build a sustainable influencer strategy?
Megan: Start small. Focus on building genuine relationships with a few key influencers who truly believe in your project, rather than spreading yourself too thin trying to work with everyone. Be patient, be transparent, and be willing to invest in the long-term. Don’t expect overnight results, and don’t be afraid to adapt your strategy as you learn what works and what doesn’t. Community engagement is a marathon, not a sprint.
So, what did I take away from my chat with Megan? First, building long-term relationships with influencers starts with a genuine interest in them and their audience. Second, transparency and collaboration are essential for keeping influencers engaged. And third, success isn’t just about price action; it’s about community growth, engagement, and positive brand sentiment. It’s about the long game, not the quick buck. By shifting focus from short-term hype to long-term community engagement, token founders can build a sustainable influencer strategy that actually contributes to the success of their project.