Research Report: Crypto Community Manager and Token Investor Challenges
Research has shown that community involvement is one key metric in the health of crypto organizations. As OmniSparx’s mission is to improve the health and growth of decentralized ecosystems, we wanted to understand how we can help projects build healthy communities. We conducted qualitative and quantitative research of wallet holders and community managers.
Following are the results of our research.
Community Manager Research
OmniSparx has interviewed over 15 community managers from projects, including 4 of the top 25 projects on Coin Market Cap. These interviews were conducted over the phone and in person from December 2017 to July 2018.
During these interviews, community managers said that they find it difficult to find, track and build relations with authenticated community participants at scale. They struggled to answer the key questions:
➡️ Who are authentic investors and bloggers vs bots or those who seek to implement pump and dump schemes?
➡️ How do I manage and grow a community where the participants aren’t employees, are scattered globally and use 5+ social media channels?
➡️How do I segment my messaging to reach all of my personas (community participants, content creators and investors)?
➡️ How do I properly incent the key community contributors to drive community growth and health?
To solve these problems, community managers have cobbled together social media tools, customer software and reports, and manual processes as best as they can — but these solutions aren’t sufficient for the crypto world. Many community managers have more than five channels to manage (i.e. Telegram, Slack, Reddit and Reddit sub-blogs, Twitter, Medium, Bitcointalk, LinkedIn, etc.), across multiple geographies, time zones and languages with different messages and different audiences. Community managers said they lack an integrated way to build and manage and reward authenticated community participants across all the channels — at scale. They had not yet found any tools which met their needs.
Community managers also highlighted additional concerns in our research:
➡️ No simple way to create, post and respond to posts across the multiple channels. It is currently done by individuals assigned specific channels who are responsible for 24x7 coverage and response.
➡️ No easy way to provide integrated reporting to track progress. It is done manually.
➡️ No single view of social channels to manage the flow of communications
➡️Fake news is proliferating as part of “pump-and-dump” schemes to artificially inflate or deflate their token values. They need to be able to know when it is happening and respond quickly
➡️Community managers don’t currently have the solutions they need to identify the contributions that participants are making, and meaningfully reward these.
➡️To encourage participation, community managers run bounty campaigns but are challenged to track and reward participants appropriately
Investor Research
OmniSparx conducted a survey and qualitative interviews to understand investor challenges. In total, OmniSparx has spoken with over 50 token holders. We found that community participants (investors, bloggers, coders, etc.) must go through the same collaboration chaos to piece together answers they need to confidently invest.
Specific concerns investors shared with us in our survey are:
➡️ It is difficult to find comprehensive timely and accurate plan and progress updates from foundations (83% responded- occasionally, frequently, always)
➡️It is difficult to find credible third -party analysis about cryptos (76% responded occasionally, frequently, always)
➡️ Approximately half of the respondents characterized the current tools in the market (wallets portfolio trackers, social media, traditional media) as “not effective”
Furthermore, crypto token investors saw the following capabilities as extremely or significantly valuable:
➡️ Finding unbiased analysis on your favorite cryptocurrencies (74%)
➡️Insight into the key drivers (e.g. buzz) that drive value (74%)
➡️Tracking your portfolio all in one place (74%)
➡️Identifying and following the most important influencers in your favorite token ecosystems (60%)
➡️ Ability to get rewarded for advocating on behalf of your favorite tokens (50%)
Connect with OmniSparx
Crypto is powerful — but it won’t be revolutionary until we all work together. Trusted co-creation for crypto communities, at last. Omnisparx. Join our telegram channel to follow discussions on community management in blockchain and crypto and follow us on Twitter.
