Heyy guys, hope you are enjoying the best weather too ☀️☀️
On my side I have been digging deep in Web3, I talked to several people in the space including NFT Artists, some startups like Kayros games (the 1st dedicated gaming Wallet for Play to earn games)
This edition is About Web3 Marketing, I researched a lot about the subject and wanted to post for a long time but I felt like this is a very big subject. So I decided to just post a small overview that I will update in future 😉
Feel free to make any remarks to improve this post for everyone 💯💯
**Marketing is all about following current trends and using your creativity to harness the excitement around them to draw attention to your brand.**
The latest trends are…Web3 & NFT!
Elon Musk: 'Web3 seems more marketing buzzword than reality right now'
NFTs are there to stay, but not for what they are…. more for what they can be used for. At this point, I can confidently say that it is a new Web3 marketing tool.
The NFT community particularly excels at marketing because those who do it know how to use what I call ***“the extreme word-of-mouth”*** that is present in web3. To compare to *before* (web2), we can say that the web3 community is **hyperactive**. The concept of “FOMO” (fear of missing out) is very pronounced due to the possible financial advantage that NFTs can provide. This opens the field of possibilities for marketing for the development of a brand, some *stimuli* are now easier to implement:
- Driving loyalty
- Promoting Charitables causes
- Creating new experiences and exclusive access
- Driving brand awareness and extending reach
To get the public's attention, you don't need to be a brand like Adidas, the goal is to get a fanbase, not necessarily a big one, but one that is **engaged** and true to themselves.
To grasp Web3 Marketing 3 key concepts exist :
NFTs,
Decentralization,
Tokenization
Decentralization in web3 means that compagnies don’t control your data. They do not have the final word on what’s happening, at least to some extent. (so do you, as a company)
Tokenization is all about ownership. If your company is tokenized, that makes the project open to the people, resulting in a community-driven approach. Your project success is therefore going to depend on your community. It’s a “co-creation”. We build together with our community a better world.
Whether or not your project is tokenized will impact your marketing strategy.
Although you could continue using only web2 marketing mechanics, a lot are outdated. That doesn’t mean it’s not going to work, in fact, it will work but it won’t be as effective as expected. If you plan to make a Web3 startup or transform your existing business in the Web3 landscape, definitively start studying Tokenization and how you can leverage it to make your own network.
The WEB3 Marketing Kit:
Community
Memes
Value-Driven KPIs
I hesitate to add “Twitter Influencers”. We can include them in the “Community” field.
About Community
In Web3 project, most of the time (and I advise it) communities are in place after the project is created. The product is not only what you make, but includes the community. People are key to some extent to the project’s success. To create a community you often share your vision and roadmap (expected goals/outcomes) with people.
The Memes
Memes are universal languages used across the internet. Its not a new concept but rather a more “geeky approach” to understanding things. The Meme culture allow people to make themselves understood by most. (Generalize, and vulgarize in a way)
Because Yes, Web3 is inclusive for everyone. (anyone can be a part of it, despite age or other “criteria”.
An example of Meme (from Elon musk himself):
Web3 Value-Driven Kpis
This is a tricky one because it all depends on what you want to accomplish, but you can often find Kpis (key performance indicators, metrics) that are related to your desired outcome.
For example, you could look at:
Sizes of the community, such as Discord, Telegram, or Twitter
User activity-, could be % of people voting to pool or responding to general messages.
Token price — this is definitively for projects that are to some extent, advanced. If your token has significant activity and increases in value over time. We can think that your project is gaining traction and momentum.
Some closing thoughts
Commitment, community. These are the important words of Web3;
For the next decade, I believe web3 marketing is going to intrinsically be bound to the ownership economy. (Tokens) The Tokenized communities are the best way to go. You share interests and therefore co-create with external stakeholders. It’s like having an army of business angels (Investors).