For every great product, there is a deeply rooted community that helps it thrive. Creating communities helps validate the product, and it also speeds up the process of achieving product-market fit for projects that are in the early stages. At the same time, communities cultivate a sense of trust in the product by creating loyalists. This is the engine with which you can organically build your growth stack.
While the narrative of the crypto space has changed a lot from speculation to the promotion of modern technology, the community-building aspect has made very little progress. It's much easier for people to understand what they're being thrown into or pulled into when there's an element of participation. For this job, good-old SEO promotion will not be enough. So the question still remains, how do you effectively build a community for your product from scratch?
When attracting the ideal community, we often get hung up on who these people are. Either we don't know how to approach them, or we assume that many things in the process don't hit the target. The target community can be divided into 3 main categories:
- DeFi - people are excited about the new option of using blockchain as a replacement for traditional finance. They spend hours on forums because they want to understand the valuation of their crypto assets, balances, profits, and losses.
- ETH and the crypto community at large - blockchains will change every industry in the future, and sometimes we interact with the broader community outside of DeFi.
- Fintech - experienced people who are looking for new investment opportunities with digital assets.
When creating, it's important to understand that these groups can be attracted in different ways.