By Laura K. Inamedinova
November 30th, 2018

Which form of storytelling is the best for crypto businesses?

Which form of storytelling is the best for crypto businesses?

By Laura K. Inamedinova
November 30th, 2018

In business, apart from product quality and relevance, it’s usually communications and storytelling that influence the project success the most. Interviews, personal profiles, analytics and many other content-marketing options can be a successful way to attract potential customers as well as to maintain old ones. However, industry specifics imply different approaches to communication strategy. Crypto projects are particularly interesting in this regard due to the complexity of innovations involved, which may become both an advantage and a disadvantage at the same time.

Average person is usually uncomfortable and lacks confidence in understanding of how emerging technologies work. It is even more true for blockchain, one of the most complex technologies that generate news buzz today. As a result, the forms of storytelling selected for this particular industry should not only be disruptive and original according to the requirements of tech-savvy public, but also convincing and slightly simplified for complete beginners. Fortunately, these requirements can definitely be met across different platforms, both digital and traditional ones.

Blog posts

Among ICOs, it is one of the most common features, usually displayed on official websites or on Medium. The range of topics covered in blog posts is particularly wide: while many ICO teams are providing updates on recent events within the project (e.g., software updates, ICO sale dates, new advisors, etc.), additional areas of interest may contain opinions on the industry news or more personal pieces, such as individual stories of joining the crypto community.

Advantages: blog posts are a universal tool, since you can combine project updates, explainers and editorials in a single newsfeed, while having room for any extra content you see fit.

Disadvantages: the overall reach of the blog posts is always low. Generally, it is highly unlikely that the website will be the primary source of information for project updates for potential and existing users and ICO backers. Publishing in mass media and social networks will reach a much wider audience by an order of magnitude.

Potential template for crypto blog (source: ThemeForest)

Live broadcasts

A chance to hear the team members of ICOs expressing their thoughts live is definitely attractive. As a result, interviews or live sessions can become a good way to tell more stories widely and in a more straightforward fashion. Due to the growth of social media, this format is becoming more and more popular, especially among blockchain startups. Nearly all well-known platforms offer a function of live recording which allows videos to be easily saved and watched later.

Advantages: potential investors and enthusiasts are directly involved in a the QA, which means that they can influence the agenda. Such immersive experience is not only a good way to discover the most interesting details about the project development (which may be overlooked in mass media or blogging), but also to strengthen the relationship between the project team and the investors.

Disadvantages: Live broadcasts are long and take a lot of time to watch, which most people don’t have time for. And when watching the recording, these people miss the opportunity to ask questions and interact (and thos who have the least time are usually the most valuable potential users or investors). Therefore, written materials are a more effective form of storytelling time wise.

A new show Coincast TV broadcasted on Sky News and Apple TV (source: Bitcoin Exchange Guide)

Social media updates

Posts, photos, links… Content and storytelling on social media channels can be defined by a single word – variety. Therefore, people will probably never be tired of monotonous approach when storytelling is done through these particular platforms. Another important thing regarding crypto and social media is relevance. First of all, crypto is digital itself, hence, it would be intuitive to use digital channels for promoting projects. Also, many crypto investors and enthusiasts are young people who are still the largest audience on social media by age.

Advantages: social media is easily accessible through digital devices which are used probably everywhere and every day. As a consequence, the audience can easily keep up with the latest updates as well as find a spare minute to digest a catchy piece of storytelling.

Disadvantages: the limit of symbols and a mocking too long, didn’t read (TL;DR) culture may become obstacles for more expressive and expanded storytelling. On the other hand, it could be a new challenge for company’s communications to tell an interesting thing in less than minute (or any other timescale set by a certain social media channel).