Building Community Through Social Media | BanklessDAO Weekly Rollup
Catch Up With What Happened This Week in BanklessDAO
Dear Bankless Nation 🏴,
Happy new month!
It’s been an eventful start to the season, and this week’s community call roundtable took that up a notch. So many touchpoints were highlighted based on recent developments in the DAO and community feedback was required to come to a proper evaluation. We are four weeks into the season and it is imperative to have an idea of where we are as a community. Here are some of the touchpoints:
Snapshot voting mechanisms: This took center stage due to the recent voting implementation.
The Grants Committee debate continued, with members deliberating their role in grant allocations and proposing alternative funding and governance structures.
Significant focus on evaluating the necessity of departments and guilds within BanklessDAO, with members aiming to optimize resource allocation and operational efficiency.
Driving bDAO social presence on Farcaster. This was part of the inspiration behind this week’s editorial as we reviewed building community through social media
Throughout these discussions, there were resounding calls for action and change. As we navigate these complexities, let's remain committed to our shared vision of building a decentralized future. Together, we can push the boundaries of innovation and create a more inclusive and empowered financial system.
Enjoy your weekend and once again, happy new month.
Contributors: Lucent, Wednesday, Tonytad, Warrior, Paulito, Vi-Fi, Apotieri, anointingthompson1.eth, Kornekt, WinVerse
This is an official newsletter of BanklessDAO. Please subscribe and share to help us grow our audience as we fulfill our mission to build user-friendly crypto onramps.
🎙️ Listen to Crypto Sapiens latest episode, Creating Community with Bankless Card.
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🏃♀️ Catch up: Review this week's Community Call notes or listen to the recording.
Snapshot Votes
🗳 Grants Committee Election for S10 and S11
The election for GC members for seasons 10 and 11 is currently ongoing. There are six vacant positions and five candidates to be elected for these positions. There are also "No" votes for each candidate, so you can vote for or against any of the candidates depending on your choice. The first 5 with more token weight will be taken as the valid results. Don't wait any longer; head over to Snapshot and cast your vote.
Building Community Through Social Media
Author: Lucent
Social media has become an essential marketing vehicle for businesses and brands of all sizes and types. It plays a critical role in crisis management, building brand reputation and loyalty, and influencing decisions at multiple points — from amplifying the reach of blogs to informing with relevant content. In web3, social media allows organizations and projects to engage with contributors and potential contributors, helping them to learn about the ecosystem and, in turn, drive thought leadership by solving problems. Engaging social media allows brands to build trust, grow their audience, and build a community; and in this community, the marketing department is responsible for initiating this promotion and growth. However, the question remains: How do we, as community members, promote the BanklessDAO brand?
In the past, some contributors argued that the marketing department falls into three categories. Guild because it develops talent; department because it is essential to the DAO; and project because it generates revenue. Social media arguably does the most work when it comes to generating revenue for the DAO. One would agree that the more revenue brought into the community by the marketing department, the more it enforces and proves its contribution to the DAO, and the more talents are attracted to the community. So, it is a cycle.
Content creation is the primary activity in the PR business that drives other activities. Since its inception, the BanklessDAO community has consistently produced high-quality content that educates, informs, and entertains the audience about web3 technologies, DeFi, blockchain, and related topics. These contents may be articles, videos, podcasts, infographics, and tutorials. When projects like the Newsletter team, Podcast Hatchery, and the Bankless Academy receive massive engagements from social media posts (and content) through cross-promotion, it will go a long way in improving the BanklessDAO PR. To gain these massive engagements, contributors have an active role in strengthening our social media presence and implementing new strategies to drive traffic through social media. Among these roles are:
Thought Leadership: As contributors, we must position ourselves as thought leaders in the web3 ecosystem by sharing insights, opinions, and expertise on social media platforms. We can contribute to discussions, participate in AMA sessions, and share valuable resources to establish credibility and authority within the community. This should not be for the marketing department and related projects alone.
Continuous Learning and Adaptation: We must stay informed about emerging trends, best practices, and evolving social media algorithms to adapt strategies accordingly. It is important because regular updates and changes get implemented across social media platforms. An example is embedding Substack links on X. What is done on one media platform might not be easily done on another. So, as contributors, we should remain flexible and open to experimentation, exploring new formats, platforms, and engagement tactics to stay ahead in the digital terrain.
Hashtag Campaigns: This is one of the most underused social media marketing tricks. According to searchlogistics.com, tweets and posts with hashtags get twice as much engagement as those without. Therefore, contributors should create and participate in hashtag campaigns and trending topics related to web3, DeFi, and blockchain technology. By using relevant hashtags strategically, contributors can increase discoverability and engagement with their content and reach a broader audience. So remember to use #BanklessDAO or any community-related # in your posts or tweets.
The most important step to be taken by contributors is community engagement, and this cannot be overstated. Actively engaging with the community by responding to comments, questions, and inquiries on social media platforms will encourage dialogue and discussions and support community members to cultivate a vibrant and inclusive ecosystem around the bankless brand.
Luckily, there are some opportunities to help improve BanklessDAO’s social media presence. Earlier this week, Oluwasijibomi requested that our LinkedIn page be followed and shared to assist the marketing department in its efforts to cross the 3,000-follower mark. Apart from following and sharing, Flowscience wrote out a strategy to grow the DAO’s page. He suggested that contributors add BanklessDAO as a company they work for (or have worked for) to their personal profile page work history, as this will allow each contributor to invite up to fifty connections to follow BanklessDAO per month.
Imagine the conversion and follow rate for the community if invites are sent to the relevant connections. With 20–30 effective invites, conversion should be up to 30% each month. This strategy can also be implemented on other platforms like X, and YouTube by sharing, following, and inviting other relevant users and subscribers to the community’s handle, channel, and page.
With over 1,000 subscribers on YouTube, 3,000 followers on LinkedIn, and almost 62k X followers, we can still play more active roles in improving our community by using social media effectively. As Scott Cook, the founder of Intuit, says, “A brand is no longer what we tell the consumer; it is what consumers tell each other it is.”
Therefore, using social media to build the community is up to us. If you haven’t followed BanklessDAO on all social media platforms, here is an opportunity to do so.
@banklessDAO on X, @BanklessDAO on Telegram, @BanklessDAO on LinkedIn, and @BanklessDAO on Warpcast. Also, subscribe to our YouTube channel for more videos on everything you need to know to push the vision forward.
🎉 ANNIVERSARY GIVEAWAY
Bankless Academy is turning 2! Let's celebrate. If you've claimed at least one Academy badge, you're ELIGIBLE to participate and win a DataDisk Collectible. How? First, you have to follow @BanklessAcademy then Reply with your Explorer address.
B-Day! Feb. 12th, 17.00 UTC.
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Here are the benefits of being a holder - Holders enjoy the following suite of perks
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⛴️ BanklessDAO Content
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🗺️ Sobol Editor Training
Do you want to become a cartographer or editor on sobol.io? Are you interested in learning how to map the DAO or another community on Sobol? If yes, join McEal every Saturday at 12:30 UTC in the Co-working room, in the Ops Department channel. After you attend this session, you will become a BanklessDAO Sobol editor and can claim editing bounties. Have any questions? then join us here to learn more.
Thanks Frisson!
