How To Use Bitcoin To Boost Your Social Media Strategy

I think it's safe to say that the Bitcoin cat is out of the bag, and it's become more than another internet fad. The worlds first digital currency or internet money continues to grow in user base as well as value. Networks like these cannot be ignored, and those that do, tend to push to the wayside.

We saw many new businesses explode off the back of recent trends such as social media, video streaming, file hosting, and Bitcoin looks to be the next layer of the internet. Those that do not adapt to it will lose customers to those that do.

Social media and Bitcoin are two of the most extensive digital networks in the world. It would make sense that as they both grow and touch the same people that they converge. This convergence of the two networks merging userbases is an opportunity for marketers to engage with their audiences like never before.

So how can you leverage Bitcoin in your social media strategy? Here are a few ways that some brands have already started using.

1. Rewarding users

Giveaways have become a cornerstone of any successful social media strategy. Many brand pages leverage this technique to engage with their audience. however, giveaways are not full proof; sadly, not everyone may be interested in your prize, limiting your reach. Additionally, shipping physical goods as prizes add additional cost, paperwork and complexity.

Using Bitcoin, you know your prize will grab the attention of the broadest audience possible. I mean, it's money; who doesn't like winning free money? And free cash you can send instantly at low cost to as many people as you like regardless of their bank account, makes it the easiest way to give away prizes.

2. Micro tasks

Have you been having issues with getting your audience to complete specific tasks like:

• Reading an article
• Signing up for a newsletter
• Sharing a post
• Commenting on a post
• Liking a post
• Tagging a friend

Well, why not offer to tip them in small amounts of Bitcoin (referred to as Satoshis). Satoshis can be broken down as low as 0.00000001, which gives you plenty of granularity in how much you want to reward a specific task or a combination of tasks.

3. Tipping

Instead of having a systematic approach to distributing Bitcoin in microtasks, then tipping is a great way to maintain the mystery. If you see a user leaving a great comment or sharing your content, you already know they're engaged, and you can reward them with a tip.

Tipping on social media sites like Twitter has long been prevalent with several plugins. Recently Twitter has interacted with Strike to bring native lightning network Bitcoin tipping to the platform.

4. Streaming payments

If you're not aware of streaming payments, I would highly suggest you check out some of the Podcast 2.0 apps, such as Breez wallet. These apps allow you to host a live broadcast and collect tips while you broadcast. Users can tip you for shout outs or stream your Bitcoin as long as they remain online and listening to your show.

These live broadcasts could be used to tip users or stream payments to users who engage in your live broadcasts and engage with your audience in real-time with tips.

5. Cashback rewards

Cashback rewards are a strategy as old as time; many eCommerce sites have been doing this for years in the form of vouchers or third party rewards programs like flyer miles or banking points. Instead of giving users cashback rewards that many don't bother to redeem or are limited in their redemption options, Bitcoin provides a superior reward.

If you don't have a formal cashback reward program, you can ask users to submit their order numbers to you via social media and immediately tip them for their purchase.

We've already seen Bitcoin cashback reards programs launched in the past two years with crypto.com, BlockFi and the Fold app.

6. Bitcoin bounties

Who doesn't love a little treasure hunt? Why not set up little treasure hunts online and drive users to your social media profiles or website and get them to engage in specific tasks or a series of tasks. You could actively leave breadcrumbs for users to claim their Bitcoin via QR codes on your site or through more complex mechanisms.

Rethinking social networking

Social media marketers may want to rethink how they allocate their social media budgets; instead of throwing all your budget at the platforms, you may want to use some of it to spend directly on your users.

Depending on how your audience reacts, this could see a significant change in social media budget allocation to achieve specific goals like conversion, sales, retention and more.

Only the beginning

Merging social networking with a digitally native currency opens up new possibilities, especially with an open-source community supporting it. As new participants join the network, so too will new ideas for using Bitcoin via social media.

Contact us

If you would like to know more about digital assets or would like to market your digital asset company or how to set it up for your business, then don’t be shy. We’re happy to assist. Simply contact us

Are you looking to promote your business?

South African finance business owners can create your free business listing on nichemarket. The more information you provide about your business, the easier it will be for your customers to find you online. Registering with nichemarket is easy; all you will need to do is head over to our sign up form and follow the instructions.

If you require a more detailed guide on how to create your profile or your listing, then we highly recommend you check out the following articles. 

• How to create a nichemarketer profile 
• How to create a nichemarket business listing 

Recommended reading

If you enjoyed this post and have a little extra time to dive deeper down the rabbit hole, why not check out the following posts on cryptocurrency and blockchain.

• Why Blockchain and Cryptocurrency Is The Future Of Money
• 24 Ways To Earn Cryptocurrency
• How To Pay Tax On Cryptocurrency In South Africa
• How To Buy Bitcoin In South Africa
• Why Does Your Bitcoin Wallet Address Keep Changing?
• How To Make A Private Bitcoin Transaction

Disclaimer: This article should not be taken as and is not intended to provide any investment advice and is for educational purposes only. As of the time posting, the writers may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency, as all investments contain risk.

Tags: Bitcoin, Social Media Marketing