crypto social media

Can Reddit be the best ally for crypto startups?

4 min read

September 26, 22

If you are considering promoting your brand on social media probably Reddit got in your radar. What is all the hype about? How can I actually market my business? With plenty of crypto communities, reddit can be a great option if you have a blockchain related company. If you want to get the most out of it you should also create adapted content for this network. Let's get into the numbers!

Author: Carmen Rodriguez

Why you must consider reddit

Reddit was founded in 2005 and since then it has accumulated 430 million monthly active users and over 100,000 active communities. What is more important is that these statistics are growing year after year making the content more likely to go viral. As we can see in figure 1 the growth from 2018 to 2019 was around 30.3%.

Figure 1: Reddit monthly active users growth¹

Another interesting element is that a lot of redditors don't use all other social media so this can be the perfect way to reach new audiences. As you can see in figure 2 reddit users don't use instagram and twitter half of the time and 69% of them are not on tiktok.

Figure 2: Reddit audience²

How does Reddit work?

Reddit can be hard to understand at the beginning since it is a combination of web content, social news, a forum and a social network. Users can upload content in text, images, video or links that can later be upvoted or downvoted by other users. This voting system allows the most liked post to be shown at the top and sometimes become viral. Within reddit there are microcommunities called subreddits that focus on a specific topic such as crypto, fitness, travel or business.

Challenges of marketing on reddit

If you only share content regarding your brand chances are that some of your posts get blocked since communities will identify you as a spammer. A similar mistake can be posting the same content several times in one community. Using URL shorteners can also expose you. Reddit is not like twitter and you don't have a limit of characters, therefore just reposting content or shortening links can be indicators that you are a suspicious user. Last but not least, you should be up to date with the acronyms your audience uses, some commonly used examples are:

OP: "Original poster"
TIL: "Today I learned"
ELI5: "Explain it like I'm five"
TL;DR: "Too long didn't read"
AMA: "Ask me anything"

How to make the perfect post on Reddit

Be concise. Most popular posts are less than 120 characters. The most upvotes go to posts that are between 60 and 80 characters. The timing is also important, making Mondays and the weekend the best days. If your focus is on the interaction then include a question or call to action at the end of your posts, nevertheless the posts with more upvotes are the ones without a question. Integrating video can also help with the popularity of your post.

You do not (always) have to reinvent the wheel

Sometimes sharing content that is relatable to your audience can be difficult. You can benefit from the content that is already published on reddit to understand better the pain point of your client. For example using searches such as: “How do you” “How can I” “I can’t stand” “I’m struggling with” in subreddits of your industry you will be able to spot the unclear elements that are so common in blockchain related projects.

Subreddits to join

If you are starting your Reddit journey and you don't know what subreddits to check for crypto content, we offer you a top 10 with our favorites:

/r/bitcoin
/r/CryptoCurrency
/r/CryptoCurrencies
/r/CryptoMarkets
/r/bitcoinbeginners
/r/CryptoCurrencyTrading
/r/altcoin
/r/icocrypto
/r/Crypto_General
/r/btc

Final thoughts

It is important that before you start your reddit strategy you do some research on your audience and how they communicate. Don't center your interaction only on selling your product because you can have a negative reaction since people use this channel most of the time to read honest experiences from other people. In general try to give more than you ask, this way you will unlock genuine fans. Most importantly, don't try to act like a happy client of your own brand, they have seen it all.

About Carmen Rodriguez

Carmen Rodriguez is a junior social media manager at Luna Vision and executive assistant at basenode.io. Before that, she worked for other companies in the marketing field. Besides her degree in business administration, she holds a master's in social innovation. You can reach out to Carmen via LinkedIn.

About Luna Vision

Luna Vision is a blockchain marketing agency with its roots in the blockchain ecosystem. We offer data-focused marketing to blockchain startups. With a deep understanding of blockchain technology, we can best promote your products created and running within the blockchain ecosystem and “translate” to your customers - may they be already included in the ecosystem or still be new here.