Web3/ crypto marketing often amounts to "Web2 strategy plus crypto industry routines." Before we delve into what we should do, it's essential to address what we should avoid.
In the pursuit of growth, it's easy to fall into the trap of wanting to catch all fish at once. This typically manifests in efforts to attract new users while simultaneously attempting to significantly increase the retention of existing ones. Another common misstep is to indiscriminately welcome all newcomers just to boost the numbers. This issue becomes even more pronounced in the Web3 space, where the audience is inherently niche.
Therefore, it's crucial to:
Focus and Prioritize: Concentrate on achieving one goal at a time. If your current priority is user acquisition, channel your resources into that. If it's user retention, adjust your strategies accordingly.
Target Your Core Audience: For long-term projects that value user experience over exploitation, it's more beneficial to earn the approval of your core audience. This approach will yield better results than mass communication. For instance, if your platform is a blockchain for developers, concentrate on building features and providing resources that are valuable for this specific group. This way, you'll build a dedicated user base that appreciates and advocates for your product.
This is particularly pertinent for an emerging brand that's still carving out its niche. I've observed many groups placing a disproportionate emphasis on investing in media and key opinion leaders (KOLs) for promotion. However, they often overlook the importance of effectively marketing themselves through their own channels. This approach is based on the misguided notion that external praise is more impactful than self-advocacy. This is a misconception.
If a project seeks to garner user approval and cultivate sustainable business growth, it must:
Craft a compelling narrative. This can be achieved by weaving together the product portfolio with an aspirational roadmap. For instance, a blockchain project might highlight its innovative smart contract features and link these to a roadmap showcasing future integrations and partnerships.
Consistently produce high-quality content. This is where a professional content team becomes a vital asset to any web3/crypto marketing department. This goal can be realized by regularly publishing top-tier research reports, insightful industry analyses, and updates on technological developments. A steady stream of engaging and informative content not only demonstrates industry expertise but also keeps your audience informed and engaged.
Actively engage with the community. This involves interacting with users, genuinely listening to their feedback, and forging authentic connections. Regular AMAs (Ask Me Anything), community polls, and discussion forums can all serve as excellent platforms for these interactions.
Being boldness, professionalism, and a commitment to long-term goals. These qualities form the foundation of any project and are the primary reasons why your users, investors, and partners choose to invest.
Solely leaning on third-party marketing without concurrently ramping up self-marketing efforts will seldom resonate with your target audience. Remember, self-marketing provides a platform to showcase your project's unique value proposition directly to your audience, a critical aspect that should never be overlooked.
This advice particularly resonates with Asian projects. Teams from this region sometimes exhibit a tendency to remain 'hidden' behind their brand. While there's no absolute need to have a front-facing figure like Vitalik, CZ, or AC, it's crucial that at least the co-founder maintains a visible presence, offers valuable industry insights, and significantly boosts the target audience's confidence in the project.
It's about more than just one person, though. The entire team should take an active role in presenting a unified, compelling voice. This doesn't have to come from one person, but rather a chorus of voices from different departments such as "Dev," "BD" and "MKT." Think about constructing your team as a sub-brand, showcasing the diverse expertise and perspectives that make up your project.
While it's essential to have operational goals and plans, it's not recommended to establish them for extended periods like five or three years. The Web3 arena is in a constant state of rapid evolution, which makes shorter-term plans, such as semi-annual or annual ones, more feasible. It's vital to review and adjust these plans frequently to stay in sync with the industry's pace. For instance, if a new blockchain technology emerges mid-year that could significantly impact your operations, having a flexible planning structure allows you to adapt and integrate this new technology seamlessly into your business model.