A great community is one where you can be heard, respected, and promoted. We all know from personal experience how nice it is to feel that your thoughts are noticed. For businesses, especially web3-based ones, community building has become an essential addition to day-to-day operations and marketing. And it requires at least the same amount of maintenance as any other marketing activity.
Cryptocurrency brands engage with community members in many different ways, and one of the most recent trends is hosting an AMA session.
This article breaks down everything you need to know about what is AMA crypto and how to leverage Crypto AMAs to promote your token.
Without further ado, let’s get this party started!
What is AMA in Crypto?
Before we jump into the importance of AMA sessions, it’s imperative to break down what they are and, since we are talking about tokens, what does AMA mean in crypto.
In short, AMA, an acronym for Ask Me Anything, is a form of an informal interview where people from various communities, including a project one, can openly discuss a project with one of the company’s representatives. One of the first platforms where AMA originally took off was Reddit. The crypto community loved Reddit’s “subreddit” feature and no wonder that AMA was established there.
Fun fact: in 2022 Reddit leveraged its target audience and kicked off a web3 adoption strategy – the platform released Collectible avatars (cute little Snoo NFTs), which resulted in 3 million new Polygon wallets creation and generated $350 million in revenue.
Why did AMA gain so much traction? Unlike standard edited interviews, AMA sessions let brands create a special bond with the audience through honest communication where no third party is involved. Before it became mainstream, open discussions, like AMAs, were a breath of fresh air in the interaction between the audience and community owners.Notably, a project’s representatives answer questions from a community in real-time, which makes this communication type so fundamental, transparent, and widely accepted by crypto enthusiasts. As a result, it’s challenging for an AMA respondent to provide well-thought false answers, thereby deceiving the community.
Given that the crypto audience is quite diverse, various questions can arise: from the interest in the technical aspects of your token to the question about strategic plans, a project’s main idea, and the team of the project. To efficiently respond to all the queries, you need to know all aspects of project development. Therefore, you can invite subject matter specialists such as developers or designers contributing to the project to answer the profiled questions from curious attendees.
Regarding the “venue”, AMA sessions are often held in online chat rooms, social media platforms, and messengers such as Telegram, Discord, Twitter Spaces, Youtube Live streams, etc. The conversations can be conducted in the form of a chat or a live video – it depends on the platform on which the session is conducted, as well as the form of discussion, which is up for the hosts to decide. The main requirement is providing answers live (in real-time). For those who couldn’t attend the meeting but didn’t want to miss out on anything, projects usually drop a list of questions with attached answers in the form of an article or community post, just like this BeInCrypto AMA session.
Ask Me Anything Crypto Session – How Does it Work?
- First, the host of the Ask Me Anything crypto session has to decide where the conversation will take place. At this moment, the most common platform for AMA is Telegram, where sessions can take place both in the form of a live broadcast and in the form of a chat. However, given how many social websites we use nowadays, there are plenty of opportunities to host an AMA interview:
- Second, the host must choose how to gather questions for the AMA session. Based on our extensive experience in arranging such meetings, we determined three ways how to prepare for the AMA session:
- The host creates the questions for the AMA and then brings them to session members
- Community members write their questions before the interview and host a few ones that will be discussed in the session. This type of AMA engages both the host and the attendants – the first can understand what concerns the potential investors, while the second ones feel heard and included in the conversation. In addition, this activity involves new members and evokes their interest in your project.
- A reckless one – no pre-planned questions are involved in this type of session because people ask them live. It is a great way to win the trust of new audience members. However, the risks of unrelated and inappropriate questions are incredibly high.
- Finally, the AMA session can be a different marketing activity aimed at a specific announcement related to a new product feature (for Beta testing) or marketing event (contests or giveaways) launches. As a result, It can also be a small step in an extensive marketing funnel containing various promotional tactics in the overall marketing campaign.
Preparations Before AMA in Cryptocurrency
Hosting an AMA requires many arrangements to ensure everyone is on the same page. Thorough preparation guarantees the conversation will be as productive and pleasant as possible for both the host and the audience. For this reason, every AMA meeting should start with a checklist of actions you must complete as a host.
Here are some basic steps to follow before hosting an AMA meeting:
- Check the audience for bots, especially if you hold an interview on someone else’s channel. A lot of crypto influencers take advantage of the growing interest in AMA sessions and purchase fake followers to create an illusion of popularity. It will make you waste your budget as fake communities won’t provide your project with any marketing outcome. Also, holding an AMA session in an artificial community may damage your reputation, as in most cases, experienced crypto enthusiasts know which communities are fake and what an active and organic AMA session should look like. So, you shouldn’t make your brand associate with shitty and counterfeit communities. When looking for channels to cooperate with, look for any activity that suggests they have a phony follower base:
- low engagement rate,
- irrelevant comments,
- the follow count vs. the following ratio
- Agree on Time. First, determine the best time zone for the session. Then choose the correct date and time for the AMA interview focusing on the phases of audience activity. It allows you to engage more potential participants. Usually, 4-5 pm (UTC) is the best time for holding an AMA session as it captures the activity phases on all continents and regions.
- Prepare an Agenda and Topics to Be Discussed. If you want to hold an AMA session with planned questions, fill out a list of topics to discuss at the interview and send it to all invited members.
- Announce and Remind. Be sure to remind participants about the event several times a few days before it occurs.
- Prepare a Marketing Activity with a Clear Call-to-Action. Considering that an AMA session signifies direct real-time communication between a business’ representatives and community where more than 80% of people are fully engaged, focusing their attention on a respondent, it’d be wise to make some significant announcement or launch a marketing activity like contests, ambassador programs and so forth at the end of the AMA session. It will ensure high conversion and be considered as a reward by a community.
- Check and set up Everything in Advance. As AMA sessions are real-time events, some technical obstacles may occur. We recommend you come to the AMA venue, check all the settings & connections, and sync with the interviewer 15-30 min before the start to mitigate any unforeseen situations and risks.
The Benefits of Cryptocurrency AMA Sessions
AMA interviews bring value to both the project’s team and the crypto community. They are to get to know the project more and for open communication that fosters solid and loyal relationships. Apart from building supportive connections with dedicated community members, AMA meetings bring plenty of other benefits to the table:
- AMA prevents the spread of false information, mitigates risks of misunderstandings within the community, and helps create a crystal clear picture of the project.
- If some investors are interested in your project, the AMA interview will help them discover all the needed information from the first person (a company leader). AMA interviews are super beneficial for attracting investors. As a host, you should take advantage of any opportunity to pitch your idea and break down its most attractive features.
- Active members of AMA sessions are not to be overlooked. There were known cases when the hosts of AMA rewarded the most enthusiastic participants with an allocation or a share of tokens – just like the Biconomy did a few months ago. Apart from writing a question under the AMA Twitter post, those who wanted to win USH rewards had to complete a series of other tasks, like tagging 5 friends or retweeting an AMA post.
- It’s a common practice for those who participated in the AMA session to start observing the project by following it on social media. But, it only happens if the meeting is done the right way. A crypto marketing agency is a great institution to turn to when you are not sure how to foster loyal relations with your community. And it so happens that we are this marketing agency!
- Sometimes, investors and crypto veterans can help you improve your project by providing you with valuable feedback on AMA sessions. Questions they ask can open your mind to new possibilities and ideas you have never thought about.
How to Find Upcoming Crypto AMA Sessions?
If you want to participate in a crypto AMA interview, but don’t know where to find one, here are some tips for you to try:
- The most common platform for AMA sessions is Telegram. Usually, such events are held on popular crypto channels, so you should do your own research on the presence of upcoming interviews. Discord and Twitter Spaces are also popular and share second place.
- Another way to find an upcoming AMA meeting is to check crypto influencers’ websites and social media. Especially pay attention to those that have previously announced AMA sessions before.
- You can find updated information about AMA crypto events on Twitter. Try searching publications mentioning hashtags like #AMA, #AMAsession, or other AMA-related ones – these will lead you precisely to your destination.
- Go to Reddit. Search “crypto AMA” or other related topics for information about upcoming events, or use a particular subreddit for question-and-answer interviews – r/IAmA.
How to Use AMA in Crypto Advertising?
Now that we know AMA’s meaning in crypto, how it works, and the benefits of crypto AMA, let’s take a look at how you can promote crypto projects with its help.
Most of all, startup crypto projects are practically unfamiliar to the audience. Engaging as many people as possible in your new project is essential. We recommend you hold your AMA interviews on the guest platforms to achieve this. It gives you the ability to attract a lot of interested people.
Pro tip: We strongly encourage you to make a scam check on the platform you are using to hold an AMA on. Since the Ask-Me-Anything sessions became mainstream, the issue of fake groups popping up here and there has been quite acute and requires you, as a host, to do your own due diligence ahead of time.
One of the most critical reasons why AMA sessions are organized is lead generation. Imagine you bought a publication marketing your AMA from a crypto influencer with 100,000 followers. Let’s say that the post will reach half of them – that’s 50,000 – and at least 1,000 people will probably join your AMA. As a result, you have new social media subscribers, AMA participants, and just people that have heard about your project and activity from an opinion leader they trust.
So, if the AMA session goes well, members will have a positive impression of both this project and the brand as a whole.
Your audience – your ambassadors
When you complete the AMA session successfully and showcase the actual value of your project, the appreciation from the inspired AMA attendants won’t keep you waiting!
First of all, your audience will become an ambassador and promote your project on social media channels. This way, your brand will be on the lips of thousands of people.
Secondly, if you manage to persuade people that your project is going to skyrocket, investors are likely to invest in it early. Even the smallest project can receive a flow of money if the investors see the potential in it.
AMA session is a great tool to announce your crypto project and your brand as a whole. Hosting an AMA allows for honest and open dialogue, which can help to build trust and establish a strong relationship between the project and its supporters. Additionally, AMA sessions can be valuable feedback and insights for the project team, helping them improve their offering and better understand their audience. Note that AMA sessions are only part of your promotion. So, write to us and we will help you build the right strategy for your crypto product.
Why Hire RGray as Your Crypto Marketing Agency?
You put your heart and soul into the project, so you deserve nothing less than a best-in-class crypto marketing service provider!
RGray is the perfect partner for setting up a successful Crypto AMA for clients. With our expertise in marketing and deep understanding of the cryptocurrency industry, they can help clients reach their TA and create engaging content that will educate and inform their audience.
Our dedicated team is always up to date with the latest industry trends and successfully uses them in building custom strategies for every client. If you’re looking for a reliable partner to help you set up an AMA session or more – develop a killing marketing strategy – look no further than RGray.
Learn more about our services here or book a free consultation right now!