Entrepreneurs must be at the forefront of innovation to succeed. This applies to more than just their product or service, but their business strategy, the tools they use, and even how their tcompany is structured. Most entrepreneurs do not inherit the benefits of long-standing companies, like workplace structure or routine. Instead, they must build their businesses from the ground up. It’s critical, then, that entrepreneurs stay on top of trends and new ideas so that they can bring the most value to their fledgling businesses.
For entrepreneurs in the content space—perhaps entertainment companies, bloggers, designers, and public figures—building a social following is essential. This isn’t new information. We’ve understood that social presence is directly tied to thought leadership, which can significantly impact how your company is perceived and how you reach new customers.
Monetizing social media standing
A new type of social strategy has emerged in 2021: Bitcoin meets social media. The social media platform BitClout combines the allure of Bitcoin investment with the success driven by popular social media profiles. In a nutshell, users can monetize their social followings by offering a unique-to-them Bitcoin for sale. When their followers purchase this coin, it goes up in value. Users with extensive followings, or greater incentives for their followers, will ultimately earn a higher valuation.
Entrepreneurs and brothers Jordan, Luke, and Jackson Lintz, founders of celebrity branding company HighKey Enterprises, have combined their social media branding success with this new Bitcoin model. Under the aforementioned BitClout social platform, HighKey Coin is a “creator coin,” that type of coin designated for content creators (like the Lintz brothers’ company) to monetize their followings.
Monetizing social media standing will transform how we understand content and entrepreneurship because, instead of content-driven brands earning their keep through sponsorships or advertisements, their company is valued by the standalone content they create and their ability to garner a following. Social media has become a more powerful tool for establishing a brand’s success than we could have ever expected.
Cryptocurrency allows consumers to invest in your brand
Cryptocurrency-meets-social-media models like BitClout make it possible for consumers to invest in the brands they value even if they aren’t public companies, and even if investors don’t have thousands of dollars. While the platform is still developing, the model rings true: consumers want more access to the brands they value. They want to participate. This is a critical intersection for content-driven brands because it gives them a new way to monetize their creations while providing another opportunity to reach customers.
The Lintz brothers believe it is the future for social media marketing. With their experience managing social media influencers and tastemakers, the brothers have noticed a shift in consumer (or follower) behavior: they want to interact and contribute to their favorite brands’ work. Cryptocurrency investment will make this possible, and create a new type of commerce for content-driven brands. It’s definitely a trend worth taking a look at.