How To Make Money With Bitcoin | Cryptocurrency Tips for Beginners | Chapter 14
Additional Bitcoin Social Hacks
Other than Reddit, there are some additional Bitcoin hangouts which can bring in some quality traffic. Instead of mapping every single Bitcoin group out there, I'd rather focus on the 20% that have 80% of the traffic so you won't waste your time chasing smaller groups.
Using different social channels
Bitcoin on Facebook
This is the largest Bitcoin group on Facebook. I can't say much for this group since it's not that active, but you can get some OK traffic by posting your stuff there.
When you post to FB make sure to optimize the different parts of your post such as choosing the best image, giving your post an interesting headline, and also changing the description if needed.
Make sure to never share a link on a FB group without writing something about it. This can be your general thoughts about the link or a short summary, but posting something without writing anything just looks like spam.
Photos are derived from the link you post. If there are no photos in the link, none will appear on FB. So if you're linking to one of your posts make sure to have at least one photo in it so it will be more noticeable on FB.
The title and description of the post can be changed by clicking on them. By default it takes the post's original title and the first few sentences of the post as a description. You can write whatever you want instead and make the link seem more "attractive".
Bitcoin in Google+
Even though Google+ is going to be shut down soon22 there is still a lot that can be done with it. The Bitcoin Google+ community is an active community with many avid Bitcoiners. Unlike the FB group you can get much better feedback in this community.
Posting on Google+ is also great for your SEO efforts as sometimes your posts may make it to the 1st page on Google a short while after they were published (remember authority marketing?). Google+ also shows the same elements as FB and you should make sure to optimize them as much as possible. This means choosing the best photo and writing something about the link you share.
BitcoinTalk
The biggest Bitcoin forum about Bitcoin. In the past few years BitcoinTalk become a place for many new Bitcoiners to ask questions about Bitcoin. Although it's not that great of a traffic source it may help you to get some feedback on your product. It's also an awesome tool for Authority Marketing as explained in Chapter 12.
Keep in mind that since BitcoinTalk launched their signature campaigns, a lot of spam comments started showing up. A signature campaign is when people put up ads for products inside their profile signature and get rewarded for it. The more posts and replies you have, the higher the reward. That's why many times you'll get useless comments like "thank you" or "great post". Try to filter these out and focus on actual feedback.
There are many Bitcoin opinion leaders on Twitter. While posting on your own Twitter profile may get your some relevant exposure, it's much better to manage to get one of these opinion leaders to tweet about you.
In order to find relevant opinion leaders you can use FollowerWonk's search bio tool for Twitter. Just enter the word "Bitcoin" in the search box and order the results by subscribers. You'll then see that the most influential people are on Twitter, who are into Bitcoin as well.
Linkedln
At the time of writing this book, there is only one main Linkedln Bitcoin group. From my own experience, Linkedln isn't a great source for traffic but you may want to check it out for yourself.
Personal mentions
- No matter where you post you should always try to incorporate personal mentions if possible. For example, if you write a post about Coinbase and share it on the Bitcoin FB group, make sure to add an @coinbase personal mention. Twitter follows the same writing scheme while Google+ will require a "+" sign and the person/company name.
When you add a personal mention two things happen. First, the post gets much more visibility since also fans of the brand or person you mentioned get exposed to it.
Second, you get the attention of the brand or person and they may share or retweet your post getting you even more exposure. So remember to try and figure out for each post if there is some company or key person you can tag in it. Don't overuse this method or mention people just for the sake of mentioning. That's the fastest way to be labeled as a spammer and people will just ignore your posts.
Chapter 14.1: Using Affiliates
One of the most useful methods you can get people to buy your product or sign up to your service is through affiliate programs. If you've read Chapter 3 then you probably already know what they are. Unfortunately not many Bitcoin companies use affiliate programs today.
You don't have to have a lot of technical knowledge in order to set up an affiliate program. You can either use your own affiliate software, buy an "off the shelf" affiliate software product or sign up as an advertiser in an affiliate network.
I personally prefer the latter since it's the fastest and easiest one to do, it also frees you from dealing with all sort of maintenance issues and chargebacks. For example, I have set up an affiliate program for this book as well. Instead of trying to take care of everything myself, I just signed up to Clickbank which is the web's largest affiliate network for information products.
Clickbank now takes care of everything - tracking my affiliates' traffic, their sales, taking care of payments for my customers and even the refunds. The only thing it cost me was $50 to set the product up and around 7.5% in transaction fees.
You may think to yourself that those are a lot of fees, and you're actually right. But we want to start out lean don't we? So if I see that a large part of my sales comes from affiliates, I may consider moving to a self-hosted affiliate program. But until then, why should I even bother about it?
Unfortunately today there is no dedicated Bitcoin affiliate network (did someone say "business opportunity"?). So in order to find the right affiliate network for your product I'd suggest just using Clickbank for information products. If you have a physical product, there are several networks I'd check out but I haven't had any personal experience with them:
- CJ
- Linkshare
- ShareASale
You can find a complete list of additional networksfor 2015 here. When working with affiliates you have to make sure to make it worth their while.
For example, I'm giving away 70% of the sale price as affiliate commission on this ebook. I'm doing this since affiliate revenue is basically "free sales", it doesn't cost me anything to bring them in. And since this is an information product that doesn't have any recurring manufacturing cost I can allow myself to give such a hefty affiliate commission.
Of course if this was a physical product I couldn't give away as much since I would have more expenses on each product made and would want to earn some revenue. Remember, affiliates only get paid if they deliver actual results so it's basically a win-win situation.
Homework: Get Social
- Open an account in each of the social networks described above (Google+, FB, Twitter, Linkedln).
- Post your first link in each one, make sure to add a personal mention if possible.
- Optional - Consider setting up an affiliate program for your product.
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