Hiya! What’s good?
This week has been quite full yet satisfactory for me.
I studied an NFT community that gave a lot of great lessons (which is today’s focus)
Attended a number of virtual events with which I only have notes on one (‘cause life happened)
Got back on social media
And I visited my goal for this newsletter and evaluated + adjusted
Let’s get on with today’s letter.
Lessons from Crypto Dads Community
On Monetization:
One way to monetize your community is to sell branded items. You can make drops quarterly or during special seasons.
A catch to make people FOMO (Fear Of Missing Out) over it is to make the items in limited quantities.
Another catch would be to offer free shipping.
While pondering on this, I realized that free shipping is something that should be carefully weighed and considered because a well-funded community can afford free shipping but then, how about those who have limited funds? 🤔
My thought?
Look into having those items launched geographically and in doing so you need to have community representatives in each location that your members are and then you supervise the execution from wherever you are.
If you have a community that is geographically niched, good for you. You can run it successfully.
On communication:
Keeping the community updated regularly is a healthy way to grow a community. As a CM in the NFT space, communication is very paramount and lack of it can make a mess of your community- being that people invest money into your project and want to be sure that you’re not going to disappear 😅
So if you manage or you’re building a Web3 community, keep in mind that members need to be aware and informed about important details and issues. You don’t have to tell them all that goes behind the scenes but tell them enough to keep them trusting.
On community programs:
Always plan ahead and get hold of holidays, events, and celebrations, that can be utilized in your community.
Don’t wake up on World Podcast Day to realize your community is a podcast community but you had nothing planned so you just rush up some graphics and that’s it.
Capture these events and create an experience for your community.
Other lessons without expanding on it;
Reward helpful and engaged members. If you missed my letter on how to reward Super Members, check it out now.
Celebrate your members as soon as you get the news of their achievements. A public post within the community doesn’t hurt.
Organize activities with prizes- monthly or quarterly.
Have voice chats or video calls for catch-ups and just hang out. Every call doesn’t have to be about a serious update or class or whatever.
Encourage members to hang out with themselves without your coordination- they can host virtual events, they can meet up in real life- support them whenever this comes up.
One thing that I really love about Crypto Dads is the products they create for their community. I mean, YES! I’d love a branded beer from a community I’m invested in (if I were a dad 😅).
The idea of branded products will be super easy to navigate if your community is niched. Take note 😉