A Guide to Marketing Strategies
Web3StartupsUsing?
It is a well-known fact that a well-defined target audience can help you shape the project by easily defining the marketing maturity. You should know that Web3 relies on network effects more than any other industry. Thereby, focusing on the marketing strategy that can help you build strategic connections and communities. If you know that it's not your trumps card that you can play, you can contact a Web3 digital solution provider to assist you with marketing maturity goals, and much more. In this blog, we are sharing a strategy that every web3 startup use.
Marketing Strategies Web3 Startups Following
Marketing strategies are specific to their business models and verticals, and thereby, every business provides products or services with a little tweak. You should know that the behaviour of the audience towards the internet is changing. With the adoption of new technology, the audience tends to improve their insights on the product or the services they use. It is making important for every marketing department in the organisation to understand and react to the data they have been collecting for a long.
Web3 startups are famous for collecting unstructured data. They later need the help of the web3 digital solution provider, such as Zelta Tech to structure that and get the original data hidden. In 2023, influencers are playing a vital role in building the community or creating wordof-mouth around the globe. Recently, the survey stated that the average web3 marketing costs around $60,000, which is 20% higher than the cost of web2-based products.
It is because you need experts to talk about your brands and help the audience navigate the technically complex web3 environment.
It's time to know the marketing strategies to primarily use and influence the market. The marketing strategy is tried and tested on the native web3 products. First, we will discuss free and low-cost marketing strategies. Later, we will discover marketing metrics. Let's read.
No-Cost Marketing Strategies
Unlike paid marketing, no-cost marketing strategies are beneficial for that help revolving the content across many platforms to engage the audience. Mostly, the content that works best is education, entertainment, and inspiration. The reason behind posting such content helps people increase the ease to find relevant answers to their questions. That is why it is essential to create content that is popular in your ecosystem.
Increase the Use of Social Media
Using social media accounts does not cost anything. All you need is to record the content popular in your niche using the front camera of your mobile phone and answer the questions audiences are searching for.
Write Explainers
Explainer can categorise into blogs (a short form of content answering questions in the readable form) and articles which are mostly informational and delivers the information to educate your audience about a specific topic. The main difference between blogs and articles is that blogs are used for marketing purposes to increase conversion rates, and articles are used to educate audiences globally.
Long-Form of Social Post
Certainly, LinkedIn, Quora, and Reddit have a huge audience base and give you a world limit of around 200-600 words to present your ideas. It means, your web3 startup can quickly get exposure by publishing the content in chunks as an alternative to your explainers.
Now, once you finish the no-cost marketing, you can simultaneously start with paid marketing strategies. Let's read a few strategies.
Paid Marketing Strategies
When you get the initial seed funding to run your web3 startup, it's time for you to tap the paid marketing strategies to test the advanced funnel and surge your conversion rates. It is essential to first test the market with minimum funds, leading to increase confidence and getting a note on the change in audience behaviour. Let's look at the paid strategies a web3 startup can choose.
Affiliate Marketing
In this, the content producers pay direct commissions to the readers. It depends on the model to model adopted by the web3 startup, i.e., the commission distributed can be conditional. Generally, these rewards are released when a referred user or customer performs a specific action. In the Web3 ecosystem, users ask to join the Discord server and tag several Twitter followers with a custom link to join the group. Affiliate marketing has not yet clasped with the Web3 ecosystem, but the startups like Magic Square are capitalising on the opportunity by incentivising the user for reviewing web3 projects.
Influencer Marketing
This marketing strategy is popular in the Web3 industry. The only reason why many blockchain-based projects or web3 startups pay special attention is that it generates numerous leads in a short period. For you, it is necessary to understand that it takes time to find quality influencers, and sometimes the cost may exceed your budget.
Engagement Incentives
It is a newly introduced marketing strategy where you incentivise the user in some way. Depending on the business model, there are ways to reward the user, such as:
• To ask the audience to submit their contact details to add them to the whitelist for an NFT project
• DeFi projects can incentivise the user to provide liquidity and interest payments
• For a blockchain network, you can incentivise the user to become a validator and share the transaction fee.
The web3 digital solution provider has a professional team dealing with such strategies and helping web3 startups get to the pinnacle of success. If you are looking for a digital solution provider, you can choose Zelta Tech by clicking here
Conclusion
These strategies discussed are to be performed on social media to get higher retention. The strategies might not be the same as your competitors because of the peculiarity of your business idea or model. Also, handling the project to a Web3 Digital Solution Provider can help you automate the tasks so that your business incurs fewer funds into hiring. You will not achieve all your marketing goals with a snap but will help you build long-term professional relationships.
FAQ
1. Are no-cost marketing strategies beneficial in Web3 Industry?
No-cost marketing strategies are budget-saving approaches which help you create a community trusting you or the service you provide. The no-cost marketing strategy
involves increased use of social media, posting daily updates related to your product and services, and updating informative and transitional blogs for all purposes.
2. How to do marketing for Web3?
Building an engaging and loyal community is the key to success in the Web3 space. For a successful marketing campaign, you need to have a forum where you can land your audiences, such as Discord. Furthermore, you can extend your campaign using partnerships, influencer marketing, and social media.
3. What are the three marketing strategies to use in Web3?
The best marketing strategies that you can use are the strategy of cost domination, the differentiation strategy, and the focus strategy.