Building Audience in Web 3: An Untapped Potential to Boost Your Digital Marketing
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In Web 2, we analyze user behavior to better understand and accommodate their interests. This helps us in creating Web 3 content they find relevant, and use suitable channels to get the target customers to interact.
This also applies to Web 3, for example:
- We identify the channels and communities where your target customers engage (X, Discord, TG).
- Next, we identify the voices by finding the right influencers and opinion leaders relevant to the topic we work with.
- And finally, we check online analytics and metrics and analyze trends and evergreen topics to offer the maximum value to users.
On-Chain Digital Marketing Tools and Data
Typical Web 2 tools are being used for that, such as social media monitoring tools, KOL analysis tools, and many others.
Tools like Sprout Social, Fedica, and Brandwatch are popular choices for social media management and social listening. These tools help track keywords, set alerts, and identify trends—allowing us to stay on top of relevant conversations and sentiment shifts.
While effective for analyzing Web 2 platforms, it’s important to remember that they are somewhat limited in Web3’s scope. However, they still offer valuable insights that help shape a buyer persona or audience profile to inform marketing strategies.
However, there is an issue with this approach. SM accounts (especially in the cryptosphere) can have a solid percentage of bots. That way you could be wasting money and time talking to essentially nobody.
This is a common issue many Web 3 projects face. They are fighting for the attention of bots and token farmers, while real users are getting harder and harder to reach. It’s like looking for a needle in a haystack.
But there is still hope.Web 3 has the potential to dramatically change the way we collect marketing data and find out the audience behavior on-chain.
Practical Example of On-Chain Audience Building
Now, we can analyze on-chain data and identify the wallets holding similar tokens. Then, we can check their wallet activity and the services they use. That way, we can differentiate “real” people from bots and token farmers, and get valuable on-chain behavioral data that drives our decisions.
Depending on your needs, you can fine-tune what you can analyze on-chain.
- If you need investors, try analyzing which wallets hold how much money.
- If you’re trying to identify potential users for similar services, look at smart contract interactions.
- If you want to exclude burner wallets from your efforts, check the wallet age, and so on. Possibilities are huge, as we are only now starting to understand how to work with this data from a marketing perspective.
There are already some tools accommodating that need, such as wallet trackers that identify common tokens held by users, as well as services those wallets use (as long as those require a wallet connection or any interaction with smart contracts).
There is much potential in analyzing this kind of data.
💡 One example: let’s say our product is a service accommodating degens and offers a compelling yield for staking. Now, let’s assume this audience may be interested in other similar services, with the token on their own. The typical Web 2 practice would entail getting competitors’ audience targeted and introduced to the product. This means tapping into their following via social media, guerilla efforts, or ads.
The Future of Web3 Marketing: A New Frontier
After collecting the data, you need to put it to work. But how?
That represents a real challenge for the time being. One solution could be addressing those users directly, both on- and off-chain. Some tools can help you jump chain→SM network and connect to potential users whose financial behavior fits with our product directly. There are some challenges to this too, as people use burner wallets and hold different accounts. But, at the same time, it provides an additional filter for your targeting.
The craft of Web 3 marketing is still in its infancy.
Tools to analyze on-chain data and address wallet holders are still in the making, and if there are some out there, they are still not near perfect. However, at RZLT, we have built our own proprietary toolset for that purpose. And we are proud to be on the lead for this new world of on-chain marketing.
Conclusion
As Web 3 evolves, defining your niche and using on-chain data has become a must for standing out in this competitive space.
At RZLT, we have a deep understanding of the space and innovative toolsets to ensure that we’re not just following these trends, but testing and pioneering new approaches to content marketing in crypto.
Ready to level up your game? Book a call at your earliest convenience. Together, we can cut across these new frontiers and drive your brand to success.