Web3 has its share of high-profile influencers who have opened the door to consumer and business interest in the industry. While this creates a tide that can help raise the profile of all companies in the space, eventually a Web3 brand will need to find a way to stand out and stand on its own two feet.
Traditional marketing methods like thought leadership, social media outreach and working for earned media coverage can all be leveraged by Web3 companies, but it’s also wise to lean into the space’s unique strengths, including its technology and commitment to community. Below, 14 members of Cointelegraph Innovation Circle discuss marketing strategies Web3 brands can use to both increase exposure and build trust among current and prospective users.
Attach your company to a current top brand
Make a list of the top brands you trust in the Web3 space. Which ones can your company add the most value to? From partnerships to integrations, if you can find a way to attach yourself to a brand that already has a preexisting community, exposure will find its way back to you over time. – Zachary Dash, Blockzero Labs
Leverage NFTs as rewards
Using nonfungible tokens not as trading items, but as virtual or digital rewards within an emerging metaverse or gaming environment, together with integrated e-commerce, can help a brand transition from Web2 to Web3. Adding play-to-earn elements can also gamify a rewards program and create awareness, engagement, activation and conversion, supporting brand promotion. – David Lucatch, Liquid Avatar Technologies Inc.
Engage in organic PR to catch the attention of journalists
Web3 users have grown savvy and skeptical of being bombarded with ads about the latest crypto product — and rightfully so. The surest way to earn their trust is through organic PR efforts that result in coverage by journalists. Being featured and mentioned in reputable news outlets simply verifies your brand’s legitimacy in ways that paid media can’t. – Motti Peer, ReBlonde LTD
Invest in creating informative content
Companies should focus on building and nurturing a community of brand advocates. This can be achieved by investing in content marketing and creating high-quality, informative content that educates users about the use cases and benefits of the Web3 product or service. Following this strategy can be helpful in establishing oneself as a thought leader in the Web3 space. – Vinita Rathi, Systango
Focus on value and vision in your messaging
Be genuinely enthusiastic about your project, and focus on value alignment. Messaging should be laser-focused on sharing your vision for the future, what your values are, what you bring to the table and how all of that works together in perfect harmony. That should be your marketing bedrock, not the typical “to the moon” greed-driven message. – Budd White, Tacen
Collaborate with Web2 brands
The best way to increase exposure is by forming relationships and collaborating with Web2 brands. Such partnerships will raise the profile of Web3 companies, increase their penetration into the target market and enable them to build trust with prospective users. A customer who sees a brand they love working with a Web3 company increases the likelihood of that individual becoming a user. – Anthony Georgiades, Pastel Network
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Publish behind-the-scenes content
If the audience sees not only “how the sausage is made” but also who’s making it and what they believe in, it removes the cloak-and-dagger aspect of many projects. It’s important for users to feel connected to the teams behind the applications they believe in. – Ben Knaus, RillaFi
Share your roadmap and goals for the year
Building trust is paramount, and I’ve noticed people are looking for authenticity moving into 2023. Aside from the more technical strategies, such as publishing audits, being transparent with your year’s roadmap and goals can be a beneficial strategy. This can additionally help with community building, since people will feel as if they are embarking on a journey alongside you. – Megan Nyvold, BingX
Invite key prospects to join the conversation
Web3 companies that create valuable content alongside their audiences have a greater opportunity to build trust for their brands. Inviting key prospects to join in on the conversation is a fantastic way to foster a sense of community and uncover untapped opportunities. Opening up new dialogue should also lead to a stronger sense of purpose within your organization! – Matthew LaCrosse, MetaEngine
Target high-volume users for additional benefits
Since all crypto activity is public, Web3 companies can target users based on their past activity and can even provide additional benefits and discounts for high-volume users. This is only possible in crypto, and it’s a complete game changer when it comes to marketing. – Moshe Lieberman, Share
Seek community feedback across your social channels
So much of the success of Web3 brands comes down to their ability to develop, nurture and grow a community. We’re not simply talking about an active Discord, but how the team communicates and listens to the community of users across all social channels. Taking active feedback from your community and understanding their needs is the key to user retention for all companies in the Web3 space. – Sheraz Ahmed, STORM Partners
Ensure company leadership is active on Twitter and Discord
My recommendation would be to develop a strategy where company founders and/or managers become industry leaders and domain experts. The most effective way to accomplish this is to be active on Twitter and Discord. In addition to daily posts, being active means helping and providing value to the target audience on a daily basis. One valuable tweet can bring hundreds of new followers and potential clients. – Erki Koldits, OÜ PopSpot
Focus on security, UX and the technology’s benefits
Focus on security, as users are becoming more sophisticated about the various Web3 solutions (DApps, L1, L2). Break down the element of security, and focus on experience and usability without sacrificing decentralization and security. Explain these concepts in everyday terms so average people can become aware of the benefits of adopting the technology beyond just farming profits. – Jagdeep Sidhu, Syscoin Foundation
Consider holding in-person events
Most overlook the power of in-person events to onboard new users to their Web3 brands. In-person events are a great marketing tactic to help demonstrate the utility of NFTs and reward users with unique digital items that enhance their familiarity with and trust in the Web3 category. Several projects have had a lot of success in onboarding users through events like Art Basel, South by Southwest and others — it works. – Mark Soares, Blokhaus Inc.
This article was published through Cointelegraph Innovation Circle, a vetted organization of senior executives and experts in the blockchain technology industry who are building the future through the power of connections, collaboration and thought leadership. Opinions expressed do not necessarily reflect those of Cointelegraph.