Onchain Forms represent a revolutionary approach to data collection and customer engagement in the Web3 community. By integrating blockchain into traditional form structures, this form is changing the way that Web3 brands interact with their users. In this article, we will delve deeper into Onchain Forms and how they can upgrade your Web3 product strategies. 

What is Onchain data?

Onchain data refers to all the information recorded on the blockchain. It includes transaction records, smart contract data, metadata about onchain assets, and more. Every onchain activity is public and verifiable, thanks to the transparency and immutability inherent to the blockchain ecosystem.

Collecting onchain data is challenging for Web3 startups because of its complex and decentralized nature. 

Collecting onchain data is challenging due to the fragmentation of data sources, a lack of standardization, complex processing needs, and a lack of engineering time. Engineering teams are almost always prioritizing features and seldom have spare bandwidth for building back-office analytics tools. To excel in collecting onchain data, Web3 startups need to comprehend various APIs, manage diverse data formats, or work with partners who know how to navigate these challenges, such as Formo’s Form Builder. 

What are Onchain Forms?

Onchain Forms, also known as Web3 Forms, are a marketing tool that empowers Web3 brands to engage with customers, collect data, and compile it all in one place. Onchain Forms combine both web2 data, such as email addresses, and web3 data, such as wallet activity and token ownership. It captures onchain data in a familiar format, making it easy to automate targeted marketing campaigns.

Key Insights brands can get from Onchain Forms

Businesses can uncover valuable insights from Web3 Forms to enhance marketing strategies and decision-making processes. Some key insights that can be derived from onchain data include:

Web3 businesses can raise their brand awareness by understanding the relationship between them and users

Customer Segmentation

Onchain data from Web3 Forms helps startups segment customers on Web3 based on the users' activities and interactions. By including questions on respondent preferences, interests, behaviors, and wallet activities, businesses can easily understand and identify high-value customers. This segmentation enables brands to tailor product features, pricing strategies, marketing campaigns, and user experiences effectively.

Market Understanding

Understanding Web3 customers is important for tailoring Web3 products and marketing strategies to meet customer needs. Onchain Forms provide a deeper understanding of market trends, enabling product teams to identify potential opportunities and threats more effectively. Through analyzing responses, businesses can assess the risks associated with different onchain assets and make informed decisions for product-led growth.

Product Optimization

Web3 survey responses offer valuable insights for guiding product development. Web3 businesses can optimize their product strategy and roadmap by leveraging onchain data to identify customer insights that align with business goals. This optimization helps maximize growth by making well-informed product decisions based on customer insights. 

Community Insights

Web3 Forms gives brands a deep understanding of community behaviors, sentiments, and activities within Web3 products. Product and marketing teams can use these insights to understand community engagement, market dynamics, and trends. This helps to build trust, boost customer satisfaction, and increase word-of-mouth in the community.

3 ways to engage customers to fill out Onchain Forms

To effectively engage the brand audience, a comprehensive approach is essential. By incorporating specific strategies, brands can enhance participation rates and improve the respondent experience. ‍ 

To effectively engage their community, brands should give them a convincing reason to complete the form

1. Give your community a reason to complete the form

Motivate the community to complete the form by offering incentives such as token rewards, exclusive content access, early product previews, or discounts. These incentives not only encourage form fills but also create a sense of value and exclusivity for the respondents.

2. Explain how respondent data will be used 

Transparency regarding data usage is important to gaining trust. Clearly outline how the captured data will be utilized, emphasizing the benefits to the customers. Explain that by filling out the form, respondents enable the brand to personalize their experience, tailor offerings to their preferences, and provide a more relevant and engaging interaction. 

3. Link the form to relevant web pages and channels

Link the forms on relevant web pages and across various communication channels to ensure maximum visibility and accessibility. Integrate the form seamlessly into the customer journey, making it easy to find and fill out. By strategically placing the form where it is most relevant and easily accessible, brands can streamline the data collection process and enhance user engagement.

Improve customer experiences with Formo’s Form Builder

Formo’s Form Builder is a comprehensive Web3 platform designed to facilitate seamless communication between web3 creators and community members. Formo enables Web3 product and marketing teams to efficiently collect and manage both onchain and offchain data, monitor engagement metrics, improve marketing processes, and drive growth.

Improve customer experiences and build a better product with Formo’s Web3 Form Builder

Capturing and logically structuring onchain data is a complex and time-consuming task. By leveraging Onchain Forms, Web3 businesses can make data-driven decisions, implement targeted marketing campaigns, and deliver personalized customer experiences based on real-world insights. 

Ready to build engaging Web3 Forms? Get started today!