Despite an economic slowdown, the crypto market cap stands well above $1.17 Trillion. Numerous crypto projects continue to launch as interest in blockchain technology grows, leading to a rising competition among industry stakeholders. Thus, owners of projects should create a strong Web3 marketing strategy to draw the eyeballs of interested parties.
Presenting your idea to the relevant audience to generate revenue after making significant investments is a tough nut to crack. Promoting web3 products and services can be challenging since it calls for more strategies than just putting banners and adverts on various websites.
Web3 marketing can help you better explain your project’s use cases and how it might benefit your target audience. However, if you don’t have any experience with Web3 marketing, you could find the industry overwhelming and difficult to get into.
For such individuals, here are some great tips on Web3 marketing that will help them attract new clients. From harnessing the power of social media and influencer marketing to PR and airdrop campaigns, we have listed all the major marketing tactics to building a successful Web3 brand
In this blog, we will look at five of the best marketing strategies across different channels that can help you spread awareness about your vision and the Web3 industry in general. So, let’s get started with the basics.
Table of Contents
What Is a Web3 Marketing Strategy?
A Web3 marketing strategy is a blueprint for promoting a decentralized app or blockchain-based project on the Web3 ecosystem. It applies tactics and actions to increase brand awareness, attract users, and drive project adoption. Content marketing, social media marketing, influencer marketing, community building, and search engine optimization are integral parts of Web3 marketing strategies.
Web3 marketing will be different from traditional marketing in ways more than one. For instance, it will primarily focus on promoting your project on platforms such as Reddit, Telegram, and Discord. It also involves promoting decentralization benefits such as security, transparency, and trust.
Further, to gain an engaged audience, a marketing strategy should focus on providing real solutions to people’s problems and creating valuable, useful, and entertaining Web3 content. A successful strategy entails more than just gaining a considerable number of followers on social media platforms; it is also necessary to go beyond running ads and paying for promotional services. To earn your audience’s respect and trust, you need to aim to be accurate with your strategy, post at the right time, engage with them, and listen to their feedback.
Furthermore, it’s critical to have specific, attainable goals that can be met through your marketing campaigns, whether it’s increasing your follower count, conversion rates, or sales. Overall, the key to a successful and effective Web3 marketing strategy is to look beyond traditional marketing aspects and focus on achieving specific, predefined goals.
For instance, assume your Web3 project is a decentralized marketplace for buying and selling collectibles, and your goal is to increase the number of transactions and sales on the platform. To accomplish this, follow these steps:
- Create a content marketing strategy that educates potential buyers and sellers on the advantages of using a decentralized marketplace. It should aim at providing a more secure and transparent buying and selling experience.
- Create a community of interested buyers and sellers on social media platforms such as Telegram, Reddit, and Discord.
- Engage the audience and provide them with useful information and platform updates.
- Influencer marketing can assist you in reaching a larger audience and raise brand awareness.
- By focusing on providing valuable content and developing a community, trust and engagement will grow, resulting in more transactions and sales on the platform.
Importance of Web3 Marketing Strategies
Effective Web3 marketing strategies are vital for building crypto project awareness in the blockchain arena. Implementing a robust marketing strategy will help you reach your target audience in no time and help you achieve your marketing goals successfully. Enforcing marketing campaigns without a defined objective or goal will not give significant results.
Web3 marketers try to distinguish their brand from their opponents by fixing a specific subculture of operation. Web3 marketing strategies help you to align your work towards particular goals.
Trying to tell people what you think they need to hear may not work in the competitive Web3 ground. Hence, it is necessary to find a way to publicize your brand with unique branding techniques.
Creating an Effective Web3 Marketing Strategy
Now that you know what a marketing strategy is and why it is important for your Web3 project, it is time to look at some of the essentials of creating a successful plan to popularize your brand.
1. Define Your Web3 Marketing Objectives
Your marketing objectives should match your business objective. If you have an NFT collection, your marketing effort is to maximize the demand for the tokens, which helps increase your sales. The primary marketing objective of Web3 projects includes:
- Increasing brand awareness
- Improving website traffic
- High-quality lead generation
- Acquiring users
- Achieving the target ROI
2. Know Your Web3 Marketing Channels
After determining the right marketing objectives and identifying the target audience, you should focus on identifying the exact marketing channels to promote your Web3 project. Some of the effective media for promoting your cryptocurrency projects are:
🔹Web3 Social Media Marketing
Social media platforms like Twitter, Instagram, Facebook, LinkedIn, etc., are the best crypto and Web3 marketing channels for promotions.
Long story short, social media offers endless possibilities to Web3 brands to spread your word. You can create communities around your crypto project on these platforms and share all sorts of information with your followers.
You can make announcements about your crypto project, share updates about the web3 industry, conduct events like AMAs, quizzes, etc., and more to build engagement with your target audience.
You can also indulge your target audience in meaningful discussions around your project, resolve their queries, and get feedback.
Overall, Web3 social media marketing is one of the most lucrative mediums to promote your project. You can easily gather your target audience, grow your Web3 community, and boost your Web3 brand’s growth.
🔹Web3 Influencer Marketing
The global influencer market currently stands at around $14 billion. It shows how marketers are increasingly relying on influencers to promote their brands on social media platforms.
Web3 Influencer marketing holds a special place in the domain, as people usually look for projects they can rely on. This is where influencers help brands get more leads. Web3 influencers have hundreds of thousands of followers, if not millions.
Here are a few of the top web3 influencers of 2023:
1. Vitalik Buterin, who happens to be the co-creator of Ethereum, is one of the most dominant Web3 influencers and has about 4.7 million followers.
He mainly expresses his views on crypto, web3, NFT, and the future of currency. There are numerous videos of his interviews on YouTube as well.
2. Charlie Lee, the creator of Litecoin and the former director of engineering at Coinbase.
With 1 million followers on Twitter, Lee is often seen sharing his views on Web3 and NFTS on media channels like CNBC, bitcoin.com, Cointelegraph, etc.
3. Erik Voorhees, he dons many hats. He is the founder and CEO of ShapeShift, a crypto platform where users can trade and interact with their digital assets. Voorhees was also the founder of Coinapult and SatoshiDICE.
He has 655.4K followers on Twitter and regularly shares his insights on the latest happenings in the web3 market.
4. Crypto Brekkie, Crypto Brekkie, AKA Brekkie von Bitcoin, is an artist and an ardent advocate of Bitcoin. He is available on multiple social media platforms like Instagram, LinkedIn, Twitter, and Medium.
With 49.5K followers on Twitter, Crypto Brekkie is an ideal influencer for brands who want to reach out to Web3 enthusiasts and digital creators for their projects.
5. Layah Heilpern, A UK-based crypto and blockchain influencer and a successful author of the popular book Undressing Bitcoin. Layah shares her thoughts regularly on her YouTube channel, Instagram account, and podcast, The Layah Heilpern show.
With over 390.2K Followers on Twitter, she is the perfect face to appeal to GenZ and millennials and encourage them to learn about digital assets and their perks.
Therefore, it is always a good idea to collaborate with macro or micro-influencers for your Web3 project promotions, depending on your marketing budget. From explainer videos to interviews and much more, these influencers can promote your brand in many ways.
Exceptional Results Through KOL and PR campaigns
Blockwiz helped Bybit spread the word about the World Series of Trading 2022 Competition through KOLs and PR campaigns and reached over 600K in 30 days of campaigning. The goal was to develop a quick strategic Web3 influencer marketing guide to reach the targeted audience and build on the hype for the competition, which was also achieved. The campaign was beyond successful and captured 142K views from the Youtube campaign, 600K viewers on YouTube and Telegram, and 16.5% CTR.
Overall, you can gain a lot of leads as influencers can easily help attract their followers to your project. These are some of the best Web3 marketing channels to focus on. There are more mediums, like email marketing, video marketing, pay-per-click marketing, etc., that can further help you up your game.
However, the end goal here is growth which all the channels mentioned above can easily help you achieve.
Telegram bots and discord servers are the preliminary way to build a strong community presence and increase users in your community footprints. Web3 projects benefit from constant community engagement. Active discussions in Telegram and Discord servers aid in building a vibrant community.
BitsCrunch benefitted with 7K new Telegram members in a month, along with 800 new members on Discord and a 1.9% engagement rate. Blockwiz provided Telegram and Discord community management services and helped BitsCrunch increase brand awareness, engagement rate, and new registrations.
🔹Web3 Content Marketing
When it comes to B2B marketers, they rely more on blogging and websites to popularize a project. This is because more than 80% of buyers conduct their own research before engaging with a brand or making purchases. Thus, blogs and websites are a great way to boost your brand’s visibility while spreading awareness about your offerings.
Look at it from a follower’s perspective. While your social media profiles can gather most of your target audience, they still need a medium to learn more about your Web3 project.
Your website can offer them just that via blogs, case studies, news articles, service pages, whitepapers, and more content.
Apart from that, a well-designed website that is easy to navigate and presents valuable information to users without much effort is more likely to trigger interaction and engagement. Simply put, your website and the content you post on it can contribute to massive lead generation.
All your marketing efforts will finally pay off once you optimize your website. Web3 SEO is about ranking well on the first search engine results page (SERP) for target keywords. You will likely get more traffic if your website shows up higher on the first SERP. But ranking higher for every keyword is a challenging task.
C-Trade associated with Blockwiz to avail its crypto SEO services to increase its brand visibility, Google SERP rankings, and build trust.
Blockwiz helped them with a comprehensive SEO strategy, defined the target audience for their platform, and performed an extensive competitor analysis to optimize the content and SEO audit of content pieces to improve their visibility.
These activities led to exceptional results, achieving a 186% increase in user count with a 7x rise in organic searches and a 111% surge in user sessions.
Your website and social media profile content should satisfy user or search intent. It should contain quality information for your target audience to consume. Engaging media, like videos, images, tweets, etc., should be adequately present across your website.
Also, your service and landing pages should be well-optimized around the target keywords. Overall, SEO is among those Web3 marketing channels that substantially boost the visibility of your web3 project.
To learn more about crypto SEO, check this blog out.
3. Identify Your Target Audience
Identifying the target audience for your Web3 projects is difficult because this industry is not everyone’s cup of tea.
Identify your patrons based on your Web3 initiative. You should always keep your Web3 marketing strategies focused on your target audience to attract the right users and achieve maximum results.
Here are some tried and tested practices to adhere to attract your target audience:
🔹Engage With Your Audience
Among your target audience, you need to generate that excitement that everyone feels before opening a gift. This, in turn, generates the need to be in tune with your followers, counting the days to receive it.
Keep your audience up to date with every event your project approaches and every achievement it generates by sticking to the public roadmap, for example, when the launchpad will take place and on what platform. Support your project on social media and existing tools like ICO Drops to send updates to your users.
🔹Motivate Your Audience to Recommend Your Project
Referral programs attract users to obtain an incentive while they recommend you to their friends and families. But this can be a double-edged sword, as users recommend you only for the monetary benefit, and therefore the uptick in your business could be short-lived. So avoid getting obsessed with gaining referral counts and more followers because you could use techniques that will generate numbers but not quality, which your project needs.
Quality followers interested in your project won’t think twice about putting on a shirt with your project’s name to recommend it to their friends.
Several projects run by unethical people have been running scams disguised as airdrops. Although this caused airdrops to lose popularity, you should know that this activity can still generate a stir.
As this free distribution captures your follower’s attention, thus increasing your reach and generating cash for your project. Remember that if you rely on Web3 world tools such as AirdropsAlert. You can pump and have healthy user traction.
4. Build Strong Web3 Marketing Campaigns
Every marketing campaign starts with planning. Everything falls under Web3 marketing campaign creation, from defining campaign goals to executing tasks to achieve those goals.
For example, if your goal is to increase your follower count across social media platforms, tasks like giveaways, airdrops, podcasts, etc., can help you achieve that goal within a set time frame.
The idea is to develop a plan and follow it throughout your campaign’s lifecycle. So, let’s look at some activities to help you achieve your marketing campaign goals.
The primary secret behind a giveaway is to build a community. Brainstorm some good giveaway ideas to retain and boost community participation. Announce your giveaway on all your social channels. Try to offer a free token ( if possible to afford) or any gadgets with a brand symbol printed on them upon joining your circle.
Podcasts can simultaneously teach Web3 services to a massive number of spectators. They can easily produce with minimum equipment. It is a straightforward way to showcase your brand incredibly.
Symposiums and conferences permit crypto and blockchain developers to connect with like-minded people worldwide.
Crypto giants like Ethereum conduct major Ethereum events across the world. If you cannot drive a tech-savvy meet-up for top-tier blockchain developers, you can run it for students and customers.
🔹Digital Video Broadcasting
Marketers can create a video broadcasting show for your brand. For in-house video broadcasting, ensure that the quality of graphics remains impressive.
The video should be crisp, clear, and straightforward. Abstain from being excessively vast or ambiguous tapes. Video broadcasting can progressively build more significant home associations with your brand.
5. Measure Performance
Analyzing the performance of your Web3 marketing strategies’ performance will help you understand what your audience likes and doesn’t like.
Online software like Google Analytics updates your performance metrics, such as views on your blog, customer engagement, and website traffic. You can use these tools to keep a tab on traffic.
Marketers can make quick decisions using quantitative metrics. Further, you can use centralized marketing tools like SEMRush and Hubspot Marketing Hub to track your performance across different channels. After executing it, you can check the following metrics to see how your marketing performed.
Performance Metrics to Check
|Conversions||Percentage of conversion rate into sales ROI|
|Site traffic||The number of visitors to your site|
|Shares||Number of Social shares for your content|
|Session time||Average time spent on your site|
|RRV||Number of returning visitors to your site|
These are some aspects of a marketing strategy you should keep in mind while planning your web3 campaigns.
Benefits of Web3 Marketing Strategies
Your marketing strategy is responsible for spreading the word about your Web3 project to many people.
However, there are other benefits of having a strategy. Here are several other reasons why it can be advantageous for your Web3 project.
- A marketing strategy allows you to present your Web3 project to your target audience as effectively as possible.
- You can generate tons of leads by properly utilizing marketing channels as part of your Web3 marketing strategy.
- Several activities or tasks you plan to execute can even help boost your Web3 project’s visibility.
- You can easily educate your target audience about your project and the industry while executing your Web3 marketing plan.
- It can even help you build a healthy community around your web3 project.
Overall, there are endless benefits to having a strong strategy in place. This is because it can not only help your Web3 project to grow but can also help you create a stronger, more transparent community in the industry.
While the above-mentioned aspects may seem simple, web3 marketers need help running them. The main challenge is retaining the effectiveness and continuity of your strategies.
Most importantly, you cannot make the change within a month. It is consistent exertion that leads to success.
You also must constantly track your performance and work on your strategies, even from scratch. This is where you can hire a Web3 marketing company like Blockwiz to grow your project and spread its voice across the globe.
With Blockwiz, you can plan and execute successful campaigns while learning all there is to know about web3 marketing. Contact us today to set your goals, identify your market position, create a cost-effective and impactful marketing strategy by picking up the best ideas, and pinpoint your growth chart by enforcing the above web3 marketing tips.