Web3 is saturated with new startups and it can be hard to stand out. Tailored marketing can help cut through the noise. Regardless of their unique selling propositions, projects with an effective marketing strategy will always have the upper hand.
While there are many nuances to effective Web3 marketing, there are five basic rules that are fundamental to nailing the perfect Web3 marketing strategy.
These are:
- Defining Your Unique Value Proposition
- Educating Your Audience
- Engaging With the Community
- Optimizing Web Presence
- Showcasing Your Success Stories
Rule 1: Define Your Unique Value Proposition
Over 1,800 projects are running on Web3 technology; therefore, differentiation is key. To stand out in the competitive Web3 space, it is crucial to clearly define your startup’s Unique Value Proposition (UVP).
Your UVP should answer two fundamental questions: What problem does your project solve, and how does it differentiate itself from existing solutions? Web3 technology was born in 2014 which is relatively nascent compared to its Web2 counterpart that has existed since the late 90s. As with all emerging industries, Web3 has its problems: security hacks, phishing, user experience and more. Therefore, projects that market themselves as solutions will inevitably attract users who have been held up or affected by these relative problems.
Furthermore, a well-defined UVP helps to define the right audience. It allows clear identification of the specific needs, desires, and pain points of the target market. This alignment ensures that marketing efforts are focused and tailored to resonate with intended audiences, increasing the chances of attracting and retaining users.
Example: Lido
Lido’s UVP addressed two of the greatest problems around accessibility in the run-up to the Shanghai Upgrade: sufficient capital and locked-up assets. Lido positioned itself as a solution by allowing people to stake as much as they wanted, without locking up their assets via staked ETH derivatives. This has allowed Lido to target a very wide audience as a consequence.
Rule 2: Educate Your Audience
Web3 technology comes with jargon and it is always changing. Words like Accounts Abstraction, Maximal Extractable Value (MEV) or Zero-Knowledge are always cropping up on crypto Twitter feeds. Even the most clued up about the space do not fully understand all the technology behind it all.
Demystifying concepts empowers users to use this technology. Therefore being the go-to source of understanding puts startups in perfect stead as being the platform where people will use this technology. This will help to attract complete beginners and intermediates alike. Furthermore, education is fundamental to attracting more experienced users. Educating them on the nuances that make a certain form of technology unique and advantageous to that of a rival will grab the attention of experienced users.
Additionally, many Web3 services suffer from poor user experience. Offering comprehensive tutorials through blogs and social media can provide a valuable opportunity to become an educational thought leader. By empowering your audience with knowledge, you not only enhance their experience but also build trust and credibility.
Example: CoinGecko
CoinGecko has numerous educational materials: blogs, glossaries, a YouTube channel and so on. As a cryptocurrency aggregator, producing informative educational materials has helped to solidify its position as one of the most reliable aggregators and sources of information in the industry.
Rule 3: Engage with Your Community
Community financial support and advocacy are central to the success of Web3 projects. As such, trust becomes a fundamental aspect of Web3 marketing strategies. Startups that actively engage and foster this trust with their community gain a significant advantage
Actively engaging with the community helps to build relationships and establish trust with potential users, investors, and stakeholders. When the community sees a genuine interest in their opinions, concerns, and feedback, they are more likely to become loyal advocates for your project, spreading the word and attracting more users. By actively engaging with the community, you tap into this marketing potential.
Participating in relevant forums, social media channels, and online communities where target audiences reside is essential. Actively listen, respond to queries, provide valuable insights, and encourage discussions. Hosting Ask Me Anything sessions (AMAs) and participating in X(fka Twitter) Spaces with thought leaders in the Web3 space will further strengthen your community engagement efforts.
Example: Aave
Aave has successfully engaged with its community in several ways. Through regular Tweets, it has kept its community in touch with upcoming announcements. Furthermore, it has participated in Spaces and AMAs taking the opportunity to respond to the questions of its community.
Rule 4: Optimize Your Web Presence
Establishing a strong online presence is crucial for effective marketing in any industry, and Web3 is no exception. Given the rapid growth of Web3, it can be challenging to keep up with these innovations and gain the audience’s attention which is why implementing search engine optimization (SEO) strategies is essential.
X(fka Twitter) plays a central role in showing that your business is informed about the latest developments in Web3. Actively participating in discussions, sharing updates, and providing insight is a perfect way to leverage these stories to gain traction. The platform’s potential to comment on news stories and share engaging content is essential. Consistent tweeting, whether in the form of threads or regular updates, helps maintain the attention of target audiences.
Example: Uniswap
Uniswap has endeavoured to build a strong web presence by posting on X(fka Twitter) regularly and creating a YouTube Channel to build its presence outside of X(fka Twitter).
Rule 5: Showcase Your Success Stories
Given that there have been so many bad actors, scams and Ponzi schemes within the industry, sharing success stories, data points, case studies and testimonials is fundamental for creating trust. This can be achieved by highlighting how a project has improved industries, solved existing problems, or empowered users. These examples serve as powerful tools to instil confidence in potential users. Moreover, with many people questioning the real-life use cases of blockchain technology, success stories are a means to show a startup’s practical applications.
What’s Next?
Crafting an effective marketing strategy for Web3 startups can be overwhelming and they vary immensely depending on the startup. If you’re uncertain about how to tap into the marketing trends on X(fka Twitter) or how to write an effective blog, YAP Global has a proven track record in helping Web3 startups navigate the dynamic blockchain landscape. Through crafting effective PR strategies of some of the biggest names in the space and helping startups to make it to the next stage, YAP Global can provide expert advice from Social Media Audits on crafting the perfect Tweet, LinkedIn Post or writing the perfect blog.
Contact us today to elevate your Web3 startup’s presence and impact.