Web3 MKT Researcher
Web3 is developing rapidly.
However, building Web3 takes work. This includes challenges in multiple dimensions such as technology, design, and operation, and more importantly, how to obtain extensive participation and support from users in the decentralized network. We need to find an effective way to arouse users’ awareness to be co-builders and jointly create a network that is valuable to everyone.
At present, most Web3 projects encourage users to participate in the construction of the network or the governance of the community through the decentralization of power and the granting of voting rights to users through Token. In contrast, users’ participation can help the project to achieve decentralization, but more importantly, it will give each user greater power and influence, making them indeed the masters of the network.
However, due to the fact that the birth of the blockchain is more of a financial nature, the current Web3 users are too focused on currency price fluctuations and ways to make money, rather than co-building. In addition, users have been accustomed to the idea of “products provide specific functions” on the traditional Internet, and it is difficult for the project to guide users to co-build.
In the current Web3, even the DAO area with a relatively mature co-building model has low user activity and willingness to participate in governance. Take the most well-known MakerDAO as an example:
According to the data by Dune, since May 2021, the user activity of the project has gradually decreased. At the same time, the currency transactions of active individual users have gradually decreased, especially after May 2022, the number of active individual users dropped to the lowest level in history.
In addition to DAO, the same is true for other areas that require active users, such as GameFi. Take the well-known project Axie as an example:
Although we can see that Aixe’s user base is growing, the transaction volume has remained historically low for nearly 2 years, which better explains the user activity of the entire product.
The situation is true with NFT.
According to the data from NFTGo, the number of NFT holders continues to increase, but the number of traders has dropped rapidly as the popularity of NFT has declined.
All indications are that the co-building model in the early days of Web3 has reached a bottleneck. Projects need to find new ways to motivate users to actively participate, and the author believes that the Web3 marketing growth platform will be one of the important tools to guide users to become Web3 co-builders.
The Web3 marketing growth platform can not only help Web3 construction but also carry out user education, brand exposure, and community building.
Step 1 Brand Exposure
For Web3 start-ups, brand exposure is the first and most important step. In addition to establishing a brand image, it can attract potential users to the greatest extent.
In practice, the effect and cost-effectiveness of publicizing through the traditional approach are far inferior to using a marketing growth platform to create activities.
Just take a Twitter-focused brand campaign on Galxe and TaskOn as an example:
These activities provide a series of tasks to increase brand exposure, such as following the project’s Twitter, interacting with the project’s Twitter, and sharing the project’s social media posts, etc. These tasks not only can improve the popularity of the project, but also attract more potential users. When users do these tasks, the brand information and value proposition of the project is spread, thereby improving the brand influence of the project.
Step 2 User Education
When users start being involved with the project, user education will be the most important part. On the one hand, it can quickly meet the needs of users trying to understand the project, and on the other hand, it can reduce the rapid loss of users. Education can help cultivate early loyal users. And these users will be the key to the continuous upward co-building of the project.
For example, TaskOn has set up a special guidance mode for newcomers and set up two activities that are the simplest and still have rich rewards to increase users’ interest in participating.
Through the Web3 marketing growth platform, the project can design a series of educational tasks, such as learning the project background, understanding the technical principle and value proposition of the project, and collecting suggestions. By completing these tasks, users can have a deeper understanding of the project and increase their interest to participate and co-build.
Step 3 Community Building
When the project has the first batch of early users, it can continue to explore community building, which not only facilitates users to understand project updates but also guides users to participate in more community governance and building.
The Web3 marketing growth platform can design a series of tasks based on community participation, such as participating in community discussions, providing project feedback, and participating in project decision-making. These tasks encourage users to actively participate in community activities, enhancing the activity and cohesion of the community. At the same time, user feedback and suggestions can also help the project team to improve the project.
Combining the above three steps, through the Web3 marketing growth platform, the project can more effectively formulate the Buidl2Earn strategy, and guide users to participate in the co-building.
In the world of Web3, marketing growth platforms such as Galxe and TaskOn are representing their great value. They meet the needs of Web3 building in an innovative way, and enable users to participate in the building through the incentive mechanism, which promotes the rapid development and growth of the Web3 project, and also allows users’ contributions to be fully recognized and rewarded, making them willing to continue actively participate in the construction of Web3.
With the emergence of more Web3 projects, the role of the marketing growth platform will become more and more important. On the one hand, the marketing growth platform needs to be further innovated and provide more diversified and personalized tasks to meet the diverse needs of Web3 building. On the other hand, the marketing growth platform needs to further improve its incentive mechanism to attract more users to participate in Web3 co-building.
Overall, marketing growth platforms have an important role to play in the development of Web3. With the further development of Web3, we look forward to seeing more projects realize user co-building with the help of marketing growth platforms.