Building a Successful Web3 Marketing Strategy in 2022

Key Points on Web3 Marketing

• Marketing in web3 involves connecting projects with users and community members, essentially acting as a market maker.

• Web3 marketing focuses on solving the zero to one problem of building early community and engaging users with the project.

• Unlike web2, web3 marketing is primarily owned and earned, rather than paying out to third-party platforms like Google ads or Facebook.

• Web3 marketing is more community-focused and bottom-up, feeding ideas and memes to the community rather than controlling the message from the top-down.

• Building lean and flexible teams is crucial in web3 marketing, as it involves arming the community to talk about the things they care about.

• Understanding the product is a fundamental aspect of both web2 and web3 marketing, regardless of the differences in approach.

Key Points on Web3 Marketing

Web 3 and Community Building

• Engineers and developers, especially at the beginning, should be well-versed with the technology they are working with, understanding their potential users, and identifying the channels where their audience lives. It's important to deliver the product's key message across these channels to build a marketing funnel.

• In the context of Web 3, the concept of community is redefined as an incentive-aligned group working together towards project success. Unlike Web 2, where there is a clear distinction between company, team, investors, and users, Web 3 collapses these categories into a single economically aligned group called 'community.' This presents a new approach to collaboration and alignment of interests.

• Several major marketing channels are identified, including owned, earned, and paid channels. It's important to understand the distribution and audience preferences for effective message delivery. The use of paid marketing activities should be measured against revenue capture, and environmental ad space in the digital world is an often overlooked opportunity for brand exposure.

• The Web 3 marketing funnel involves a series of steps, starting from a potential user's discovery of the brand to conversion. Whether it's through social media, events, or other channels, the goal is to effectively convey the brand message and convert the user to the next stage of engagement.

Web 3 and Community Building

Key Points on User Engagement and Marketing Strategy

• Engagement is essential for reaching out to potential users for a second interaction, such as through social or community channels or email notifications.

• Retaining users is crucial to prevent them from switching to competitors, and referral programs can help in bringing new users into the funnel.

• A clear marketing strategy, including brand identity, website, and staffing for social and community channels, is essential for a successful web 3 project.

• Optimizing the website for conversions, focusing on the primary call to action, and minimizing the need for scrolling can significantly impact user actions.

• Marketers should focus on specific moments, such as major announcements or earned media features, to achieve significant growth and community building.

• Data patterns in marketing apply to many projects, emphasizing the importance of optimizing key events for impact and growth.

Key Points on User Engagement and Marketing Strategy

Marketing Strategies for Early Stage Companies

• Key marketing strategies for early stage companies include instant brand legitimacy, concise messaging, showcasing user base, co-marketing for social proof, and engaging with communities before product launch.

• Instant brand legitimacy involves visual branding to convey a sense of trust and legitimacy even for new projects, making users more likely to engage.

• Concise messaging, referred to as a 'knife's edge message', focuses on distilling the value proposition down to one key aspect that resonates with the audience, allowing the opportunity to share other features later.

• Showcasing user base through a 'wall of trophies' on product websites can build trust and credibility, demonstrating that others are already using and benefiting from the product.

• Co-marketing for social proof involves partnering with third parties such as investors, media, or other startups to amplify messaging and establish credibility through the words of others.

• Engaging with communities before product launch allows for feedback and the creation of a niche community, even before the actual product is ready, helping to build a dedicated user base and gather valuable insights.

Marketing Strategies for Early Stage Companies

Amanda's Presentation and Q&A Session

• Amanda discussed the transition of web 2 companies to web3, mentioning projects like serotonin.com, mojito, and Franklin. She also highlighted the importance of having interests outside of crypto to maintain sanity during market fluctuations.

• She emphasized the evolutionary competition of terms like 'web3' and advised smaller web 3 companies to create new categories and terminology for differentiation. Amanda encouraged genuine differentiation and advised against solving already solved problems.

• Audience member Peter from Fireblocks asked her about messaging for similar projects in the web3 space. Amanda explained the emergence of 'web3' and recommended creating new categories and genuine differentiation to stand out in the market.

• Amanda's valuable insights and advice provided a clear roadmap for smaller web 3 companies to carve their niche and become market leaders in the evolving landscape.

Amanda's Presentation and Q&A Session

Conclusion:

Navigating the world of Web3 marketing requires a deep understanding of community building, user engagement, and early-stage company strategies. By implementing the insights provided in this blog, you can position your project for success in 2022 and beyond.