Breaking users into groups like this and finding insights helps marketers get closer to the ground. Outreach tactics, messaging, and marketing holistically all rely on knowing who your audience is. Once that target market has been identified, an optimal strategy can be created to really drive results.

Farcaster channels provide a great starting point for creating these audiences. Pulling out power-users allows us to identify users that have a particularly high interest in a specific topic. We can then examine their transaction activity to find other factors or patterns that link this group together. Down the line these signals or patterns can be used for not only audience analysis, but audience creation as well. That’s how you add precision to marketing.

The audience in question today will be power users of the /fabric channel. Hinted at in the last article, Fabric is the company behind Hypersub. They’ve done extensive work in crowdfunding on chain, allowing creators to generate recurring revenue and allowing them to share that revenue with their subscribers. Creators can develop their own token-gated subscription models and outline what they’ll provide to subscribers. Subscribers often enjoy access to high-quality content, NFT drops, networking, community access & more. It’s creator focused infrastructure built totally on-chain. Very precise.

The audience we’ll be looking at today is made up of Farcaster users who dedicate the majority of their casts to the /fabric channel. Let’s dive in.

The top few protocols an audience spends time in is always an interesting place to start. You’ll notice in the chart above that the top performers are Zora, Uniswap, and (big surprise) Fabric itself. Following the top 3 are perennial performers Opensea & 1inch.

Zora amassing the most volume within this grouping by far is a note as well. Similar to how the Higher audience looked at last time, the high volume of Zora activity here (even higher proportion within /fabric, notable drop-off after the #1 spot) denotes a higher interest in on-chain art and community. Quite literally, /fabric power users are spending more time on Zora than they are on anything else on Base combined. This is a small audience, but a highly engaged one when it comes to minting and similar activities.

The rest of the top 5 contains similar members as the /higher grouping, but the volumes are so different. The domination of Zora combined with strong contributions from Fabric & Opensea again just emphasize how engaged this audience is when it comes to on-chain art, community, minting, and engagement. There are levels to engagement and this audience is at the higher end of the scale.

Fabric appearing in the top 3 is so impressive considering the company it keeps. The power-users in this channel are finding utility in the product and using it frequently enough to outclass a wide variety of protocols including 1inch and Opensea. Again, this is a great example of a community that has the bite to backup their bark.

It would be interesting to view activity on a monthly basis to see if the Fabric volume takes an even larger portion as users renew monthly subscriptions and potentially receive their rewards. More to come there. Not to mention the fact that the actual subscriber communities within Fabric provide a similar opportunity for audience analysis. Fabric creators have a fantastic opportunity to learn everything there is to know about their own audience on-chain.

As an additional information source it was interesting to take a look at Bello and compare results with the insights found through Dune. Through a quick comparison of transaction volumes it became evident how engaged the /fabric audience is on-chain. Bello allows us to take a look at all followers of the /fabric channel and see any trends amongst the verified wallets connected.

This provides us a higher level view of the whole Fabric community rather than just the power user transaction volume parsed out earlier. The general theme is consistent. Fabric users have an average wallet net worth of $215K and NFTs make up the heavy majority of their holdings (on Base). More to come regarding comparisons including Bello!

Again, this was a quick look taking 10 days of activity in June from this audience, but the story helps paint a picture of the priorities of these users on-chain. However, how do you action on this? There are a variety of ways.

Say you’re an NFT creator looking to grow their user-base. It comes down to strategy. Wallet messaging is a fantastic opportunity for cold outreach at scale, but in an effort to keep volume in check, having a target audience would likely help improve ROI on a campaign like that. Identifying a highly engaged audience like this one allows an on-chain artist or protocol to find users that are already spending time in the right places. Users that are spending time there and also taking action at a high clip. The same applies to growing a community more organically. You can find the channels filled with users that are taking action rather than just chatting. Joining the channel, starting a streak, and growing an organic audience is also a great route.

That’s all for this week, another quick hitter on high-level audiences. Looking to get more granular and more in the weeds soon while also pulling in some other datapoints. Just trying to make marketing more precise. Thanks for reading. More to come.

If you enjoyed, feel free to subscribe or give a shout on FC.

The audience of focus today is built around power users of the /higher Farcaster channel. The /higher channel is built around a community brand focused on pushing the limit. Reaching higher, aiming higher and doing more. It’s a brand left open to the users, it’s a token, and it just may end up becoming a movement. If you haven’t taken a look at the channel, you can do so here and check out the website here https://www.aimhigher.net/ .

The /higher channel has seen crazy impressive growth over the past month or two with over 25k followers at the time of writing. Throughout the channel you’ll find shirts, run challenges, strava groups, biking challenges, NFTs, manifestos, memes, art and more.

The quality of content found within this community is insane and the energy is infectious. What sets this group apart from the rest of Farcaster & the rest of crypto?

The general audience parameters used here are defined below:

• Farcaster User

• #1 channel sorted by cast volume had to be /higher

• Wallet linked with Farcaster account

Very simple breakout here, the goal being to find the people who interact with /higher more than they interact with any other channel. This helped flag the people who truly allocate the majority of their FC attention / brain space to /higher.

There is room to grow in how the audiences are defined moving forward, but this felt like a good starting point.

Keeping up with the trend of on-chain summer, this analysis focused on what users were doing on Base over a 10-day period. On one side the /higher power user segment was linked with their Base transaction activity over the time period and on the other side, a subset of total Base transaction activity was examined for comparison.

Wallet activity from both groupings were aggregated by protocol to compare where users were executing transactions over the 10-day period. The results were as follows (sorted by transaction volumes):

/higher Power Users

• Zora

• Uniswap

• OpenSea

• Base-USDC

• 1inch

Base Activity

• Base-USDC

• Uniswap

• 1inch

• Zora

• OpenSea

Unsurprisingly the top 5 is the same on both sides, but the order is different. It’s also worth noting that there is a drop-off on both sides.

The /higher segment saw a noticeable drop-off after the top slot. Regarding defined transactions, Zora saw over 2x the volume of Uniswap in this slice of time. Uniswap & OpenSea were neck & neck, but following that was another significant drop-off.

Regarding the Base Activity segment, the drop-off occurs after Uniswap. Zora & OpenSea remain in the top 5, but are truly not within striking distance of the top 3.

So what?

The trend on Base is clearly financial / token focused. Users are most likely swapping assets, trading, and purchasing different tokens. The trend within the /higher segment is different. Zora & Opensea in the top 3 indicate a higher level of emphasis on NFTs & art. Zora taking the top spot by a margin aligns with the heavy usage of it within the /higher channel and how these users are spending more time executing transactions within their community than they are swapping assets like a standard crypto consumer.

Not only is the energy in the /higher channel limitless, the users are acting on it as daily.

Truly a purpose driven brand that inspires action within its community.

Another fun note here is the presence of Fabric on both lists. Fabric is the company behind Hypersub which allows creators to bring their content on-chain. This opens a door to revenue sharing, subscription benefits, and token-gated content. It’s one of the newest and most innovative ways to become a creator on-chain.

Fabric placed 46th in the larger Base grouping, but placed 12th within the /higher group.

Again this just emphasizes how the power users of /higher are spreading the love within their community & the larger on-chain community as well. Their actions on-chain have moved past the standard financially incentivized transactions of surface level crypto. /higher users are helping build something different online, a new way to create, engage, and find community.

Everybody eats, family style mentality

The differences in rankings here for Fabric indicate a fundamental difference in mindset between the two groups. The /higher power users represent a totally different market within crypto, a new market with entirely different goals and priorities.

This analysis was done using just a 10-day subset of Base transaction data. Analyzing trends and information like this ongoing or through different time frames will likely yield even more insights moving forward. That said, even with the current dataset, this write-up barely scratched the surface, lots to dig into here. More to come.

Again, going back to the marketing lens information like this can help inform decision making when it comes to messaging, growth strategies, and even lead generation at a surface level. Instead of just marketing to the broad crypto user market it’s time to start finding niches and looking at how they behave. Channels on Farcaster provide a fantastic starting point, but there is so much room to grow. Also all the data is on-chain. Once more, more to come.

That’s a wrap on v1 of Audience Insights from precision, hope you enjoyed the read.

If you did, feel free to subscribe or give a shout on FC.

As mentioned earlier, protocols are born seemingly overnight (hackathons sprout products with insane speed). Once the idea and the capability is built the search for an active user base begins. Unsurprisingly over the past few years a lot companies have found themselves following a similar playbook to get their protocols off the ground.

This playbook is as follows from a birds eye view:

• X (Twitter): Sh*t-posting, community engagement, paid ads, and general thought leadership all stem from X. Very common for an ambitious protocol to be extremely active on X.

• Discord: Discord serves as a powerful medium for community engagement. Protocols can interact with their users and users can interact with each other. The correct Discord setup can drive user growth like wildfire.

• Airdrops: Crypto likely serves as a means to an end for a high percentage of the active user base. Airdrops serve as a reward to early adopters of a protocol. Users drive activity in the early stages and the protocol rewards them down the line. It helps to briefly align the motivations of all users with those of the protocol.

This is a relatively tried and true playbook. While it seems simple, the power of community is unmatched and has helped drive protocols to glory.

So what’s wrong with this setup?

Bluntly, it is a one-size fits all approach. Does it work? Yes. Could it be improved? Definitely.

Web3 protocols have been drinking from a firehose regarding marketing. It seems like very few companies are doing the work to onboard users in to web3 and the rest of the space is competing over anyone even remotely in the space. There are simply too many people to be targeting at once. A deeper level of targeting and audience identification is required to truly drive outcomes.

The funnel below will be a quick example of how protocols can segment and break down an audience to further align it with their specific offerings and advantages.

Example companies for the purpose of this exercise:

• Company A: A startup creating a new wallet with a focus on clean UX and fiat onramps.

• Company B: A complex lending protocol with a focus on cutting edge tech to reduce slippage and guarantee specific rates.

• Company C: A decentralized social company looking to gain users.

• Funnel Breaks

  • Off-Chain: The purposes of this piece will leave this section extremely broad. This section will denote users who may or may not be onboarded into web3 at all. Broad demographic or interest based online targeting could be used to reach potential users anywhere on the internet whether they are viewing content related to web3 or not.

    • Great Fit: Company A.

    • Bad Fit: Company B.

  • On-Chain General: Users who likely have wallets already, follow a variety of web3 accounts on socials, and likely own some crypto. May or may not be active in the space. Could be identified with general online targeting or reached specifically when interacting with web3 content through newsletter ads, X ads, or influencer marketing.

    • Great Fit: Company C.

      • The audience in this bracket is likely onboarded into the first few steps of web3. Some may have lost interest in the bear market, but have the potential to be brought back to active status through a new social protocol with interesting features. Barrier to entry is low since these users are already onboarded.

    • Decent Fit: Company A.

      • Targeting an audience like this will likely gain some users, however an important consideration here is competition within web3. A clean UX and fiat onramps may not be a big enough incentive for general users to onboard onto a new wallet. Potential driver of customer acquisition costs.

  • On-Chain Niche: Power users who are seasoned within a specific vertical. More likely to be interested in cutting edge advancements and community building. Likely found with wallet messaging, discord interaction, DMs, audience segments, on-chain activity, and more.

    • Great Fit: Company B.

    • Bad Fit: Company A.

There is so so much more to expand upon here and this funnel is an exercise than nearly any protocol could benefit from. Customizing a funnel like this to a protocol can help them segment their audience and identify who they are trying to reach. Then finding the correct messaging and medium combination will allow them to more efficiently drive user volume with less time (and money) wasted on broad outreach. Dialing in on a more targeted approach is the first step in helping web3 protocols find positive ROI from their marketing efforts.

Thanks for reading. More to come.

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