Twitter Engagement Reporting
Updated: March 2023
TL;DR
A drop in reach in the last 6 months but metrics showing retention and slight growth of active core community. We are well-positioned thanks to a trend towards utility-focused NFTs, solopreneurship and creator economies flourishing from WFH and tech layoff situations.
There are challenges to overcome: language silo-ing and unclear calls-to-action. Placing Web3Press as the forefront of our offering addresses these issues, so we intend to focus on this. The target KPI for the next cycle includes 40 tweets per month with a focus on specific content distribution, and engagement rates above 3%.
In case you come across any viral or high reach tweets that are relevant to LikeCoin and you can see us placing a tweet reply, please tag us, or ping the tweet to marketing-subdao discord channel.
Overview
We’ve seen a significant drop in reach in the last 6 months seen from impression per tweet calculations, which is not surprising due to recent market events.
Despite this our engagement rates remain relatively high, indicating we have an active core community.
We are in a strong position in 2023 – there is a perfect storm for LikeCoin indicated by Twitter trends:
Web3Press is positioned well in this respect and we should look to bring this to the forefront of LikeCoin’s focus continuing into 2023
- Big push on Web3Press – the name is also straightforward and easy to understand. LikeCoin itself is better positioned as a background technology powering Web3Press.
- CT rejection and ridicule of PFP and old-era NFT projects. Fast brand adoption of NFTs (eg. Starbucks) validates use-case based NFTs as the next step forward
- Which leads to narratives-based investors being bullish on utility-focused NFTs, especially on Book NFTs, community and creator economy focused NFT use cases. Creator economy is also gaining traction thanks to WFH culture and public interest in creating alternative income.
- Strong recent social proof of underlying tech thanks to war-crime documentation use case via Starling Lab and Word Camp coverage.
Findings, Challenges
& Next Steps
1. Audiences separated by language
LikeCoin use-cases with traction are mainly serving chinese-language communities (eg. Matters, Illustbuy), which is somewhat invisible to the english community due to the barrier to participate. This lead to confusion in the english community, mainly seen from key validators refusing the osmosis incentive matching vote as ‘they haven’t seen LikeCoin do anything meaningful or gain traction since ICO’.
Considerations
- Leverage rebranding of Web3Press to be the language-neutral use-case for LikeCoin
- Legitimize and bring social proof on the ‘tech behind Web3Press’ (ie. LikeCoin) through industry use cases (Rollingstone, Book NFT, WordPress community)
- Consider using video format to showcase anything happening in CN side as this brings higher engagement levels (illustbuy, matters, etc). Preferably short format <1 min showcase in english
2. Unclear Call to Action (CTA)
Impressions and engagement rates are important to track but are meaningless if there is no conversion point developed. Meaning, someone finds out about LikeCoin via our tweets, and thinks – great, how do I jump in? Compared to competitors like Mirror.xyz, our CTA messaging is not clear.
Considerations
- Develop overview CTA based on use-case tracks – ie:
- Own a WordPress blog -> Web3Press
- Looking for self-publishing, community and distribution solutions -> WritingNFT, BookNFT use-case
- Content preservation & authenticity solutions -> Starling Lab, RollingStone articles, ISCN specs overview
- Supporting creator economy -> Civic liker node
Sorting our offerings based on audience identities makes for easier conversions. This should be both on our pinned tweet, and website.
3. Audience Renting
Book NFTs and community building web3 use cases are seen quite favorably in narratives-based investor circles in Twitter.
To reach them, we focus on ‘audience renting’ strategy:
- Find established players with larger audiences in the same narrative categories (eg. Arweave)
- Set alerts for when they post
- Be the first to reply on their tweets
- Only reply with add-value comments (no direct shilling)
Being the first in comments section gives us visibility in our target audiences.
Target KPI for Cycle 4
(Mar – Sep 2023)
40 Tweets per month, with target split:
~30 in feed (1 a day, with 2-3 threads per month)
~10 comment replies (engagement with other accounts)
Content distribution:
30% – LikeCoin core updates
30% – Web3Press, Thought leadership
20% – Audience renting
20% – Other (Supporting partners, direct CTA, testing)
Follower growth: Not KPI as follower drop off from airdrop still occuring
ER: >3%
Data & Discussion
Twitter account data month by month is published publicly for transparency on google sheets. We also welcome any discussion or questions in the #marketing-subdao channel in LikeCoin discord (please tag TL#0333)