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by Yuval Halevi
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Web3 Marketing Challenges: Navigating Through Obstacles Effectively
Running a company in the Web3 space is more challenging than it initially appears. Beyond the occasional hype surrounding the market, a closer look reveals an industry brimming with thousands of solutions, all vying for a place in the hearts of the Web3 and crypto community, along with other niches they might occupy.
I have created several guides aimed at assisting Web3 companies with their marketing, SEO, and PR efforts. In this article, I want to delve into the challenges you might encounter and offer strategies to overcome them.
Here, you’ll learn from the challenges and mistakes others in the industry have already faced. At GuerrillaBuzz, we adopt a growth marketing approach that accelerates our clients’ expansion. This method involves facing numerous challenges. Sometimes we stumble, but more often, we succeed, and in doing so, help birth a new industry-leading company.
I hope you find this article not only interesting but also time-saving and enlightening.
Table of Contents
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Gaining Trust for Your Web3 Company:
Your target audience may have been present in the industry for a while, with some having experienced the ICO bubble. It’s understandable that there’s a difficulty in trusting companies within this space. The video below describes the insane growth that the ICO bubble experienced in the past.
While I know Web3 marketing is entirely different from ICOs, IDOs, IEOs, STOs, and other forms of companies and fundraising types that the ecosystem has seen over the last decade, for part of your target audience, it’s all somewhat linked.
Consequently, your company must work harder to gain the community’s trust, especially considering past failures by other companies. However, this also presents an opportunity. In an industry where trust is not easily given, understanding how to earn your target audience’s trust and knowing what builds authority can give your company a competitive edge.
Now that I’ve piqued your interest, how can it be achieved?
- Team Visibility: Feature your team on your website. People want to know real individuals are behind a project.
- AMAs: Regardless of your project’s size or stage, AMAs (Ask Me Anything sessions) are crucial. They show your community that you’re there with them, listening to their thoughts, ideas, and concerns. Not only does this foster a deeper connection, but it also increases the likelihood of someone becoming a brand ambassador.
- Organic PR: While anyone can pay for a press release on news sites, your target audience is savvy and can discern paid content. Although paid press releases have their utility in announcing milestones and other news, for high-quality content, securing organic PR for your Web3 company is crucial in building trust with your target audience and even search engines. Being interviewed, mentioned, or featured organically on trusted websites can boost your trustworthiness, authority, and brand awareness. You can also leverage this by showcasing logos of the sites where you’ve been mentioned on your homepage and in your pitch deck.
| Aspect | What Is It? | Why You Need It | How to Implement It |
|---|---|---|---|
| Social Proof | Presence on social media platforms with active engagement. | Builds credibility and trust with your audience. | Create and maintain profiles on key social platforms. Regularly post content and engage with your audience. |
| Team Visibility | Showcasing your team members on your website. | Humanizes your brand and provides transparency. | Add a 'Team' section on your website with photos, bios, and roles of team members. |
| AMAs | Ask Me Anything sessions, usually hosted online. | Enhances community engagement and shows openness. | Schedule regular AMAs on platforms like Reddit, Twitter, or specialized forums. Address community questions. |
| Organic PR | Earned media coverage without direct payment. | Enhances credibility and broadens reach. | Network with journalists, engage in PR activities like interviews, and strive for mentions in industry articles. |
Attracting Relevant Eyes to Your Web3 Company
Every company craves traffic. Whether it’s about pulling in investors or roping in users, traffic forms the lifeline that leads them to you. But the real head-scratcher is: how do you stand out and draw traffic in an industry that’s bursting at the seams with competitors, all wrestling for the attention of your target audience? This isn’t just about any traffic; it’s about getting the right kind of eyes on your Web3 venture – those who resonate with what you’re doing.
So, now that we’re all on the same page about the importance of traffic, let’s dive into the different types of traffic and the strategies to acquire them:
So, now that we’re all on the same page about the importance of traffic, let’s dive into the different types of traffic and the strategies to acquire them:
- Paid Traffic: Think Google Ads, banners on various sites, or any activity where your company shells out cash for traffic. It’s a well-trodden path for many companies. To give you an idea, Statista shows that “In 2022, search advertising spending hit a staggering 185.35 billion U.S. dollars globally. This figure is expected to balloon annually by about six percent, potentially reaching nearly 261 billion U.S. dollars by 2028.”
- Organic Traffic: This is where the magic of content marketing and SEO comes into play. Unlike paid traffic, where spending Y amount brings in X traffic, organic traffic can start to flow passively, even while you’re catching some Z’s. At GuerrillaBuzz, we take pride in attracting all our traffic and clients organically by simply delivering real value to our audience in a strategic manner. Organic traffic is not just a fair-weather friend; it stands by Web3 companies even during tough times (which, let’s face it, are not uncommon in the blockchain space). Whether it’s navigating through a bear market or standing tall amidst the influx of competitors pouring money into PPC, organic traffic is your steadfast ally.
The diagram below illustrates the typical lifecycle of a web3 company’s paid versus organic traffic.
For paid traffic, there’s a consistent increase initially, reflecting a rise in traffic. However, after reaching a peak due to maximum spending on PPC and market saturation, the traffic starts declining, often due to market shifts or increased competition.
This cycle tends to repeat over time, especially as the company grows and faces bigger competitors. The decline phase is usually longer and more gradual. In contrast, organic traffic grows slowly and steadily, without sharp spikes. Eventually, it surpasses paid traffic, offering more stability and less vulnerability to market changes and competition.
Getting Traffic: Overview of Attracting Traffic for Web3 Companies
Having explored the different types of traffic that can be directed to your Web3 project, let’s now delve into the specific channels through which you can effectively attract this traffic.
Paid Traffic Acquisition Strategies
| Channel | Acquisition Strategies |
|---|---|
| Digital Ads | Use platforms like Google Ads, Facebook Ads, and LinkedIn Ads for targeted advertising. |
| Banners | Place banners on niche-specific websites and industry forums. |
| Sponsored PR Articles | Publish articles on crypto news portals and other relevant media. |
| Sponsored Social Posts | Create promotional content for platforms like Twitter, Instagram, and LinkedIn. |
| PPC Campaigns | Implement pay-per-click campaigns on search engines like Google and Bing. |
| Affiliate Marketing | Collaborate with influencers and bloggers for affiliate marketing programs. |
Organic Traffic Acquisition Strategies
| Channel | Acquisition Strategies |
|---|---|
| Company Blog | Develop high-quality, informative content on your company's blog. |
| Guest Posting | Write and submit articles to industry blogs and crypto news sites. |
| Online Communities | Engage with users on platforms like Reddit, Discord, and Telegram. |
| Research Sharing | Conduct and share insightful research and surveys. |
| SEO Strategies | Optimize content with SEO techniques like keyword optimization and backlinking. |
| Organic Social Outreach | Maintain active, engaging social media presence on Twitter, Instagram, LinkedIn. |
If you’re feeling a bit disappointed with your PR efforts, you’re certainly not alone. During our years at GuerrillaBuzz, we’ve encountered numerous companies who attempted to launch their PR campaigns on their own or worked with agencies that didn’t provide the necessary attention or desired results.
Launching a PR campaign is a costly endeavor, and often, without clear KPIs, you and your board may find yourselves dissatisfied with the outcomes.
What I recommend is to first understand the purpose of PR. If you view it merely as a traffic generator, you are likely to be disappointed. A single successful Reddit marketing activity can drive more traffic than a month’s worth of organic PR articles, interviews, and features.
The primary goal of PR is to expand your reach, build your company’s authority, and enhance its trustworthiness. While traffic is a significant bonus, it shouldn’t be the main objective.
Another important aspect to consider in your PR campaign is its contribution to your SEO efforts. Articles mentioning your company shouldn’t only link to your homepage. By linking to various strategic pages on your site, including blog articles and documentation, you can broaden your company’s SEO reach. This approach strengthens not just the homepage but also ensures that other pages on your site are not overlooked.
To better understand and measure the success of your PR efforts in the Web3 arena, I’ve compiled a detailed data table. This table breaks down the essential Key Performance Indicators (KPIs) that are crucial for Web3 companies to track in their PR campaigns. It provides clear insights into each KPI, helping you align your strategies effectively with your PR objectives:
| KPI | Description | How to Achieve |
|---|---|---|
| Trust | Building confidence in your brand among users and investors. | Share truthful, transparent updates about your company's progress and challenges. Don't overstate your current status. |
| Authority | Establishing your brand as a knowledgeable and influential player in the Web3 space. | Partner with established companies, achieve significant milestones, and publish detailed research and findings. |
| Brand Awareness | Making more people aware of your brand and what it stands for. | Create compelling PR stories that encourage clicks and readership. |
| New Users/Investors | Attracting new users or investors to your platform or project. | Target appropriate publications, simplify your messaging, and make your product or service appealing and clear. |
| SEO | Improving your website's visibility and ranking on search engines. | Diversify backlinks from news sites to various strategic pages on your website, not just the homepage. |
| Traffic | Driving more visitors to your website or platform. | Write intriguing articles and strategically place anchor links or mention your company name to encourage searches. |
Conclusion:
In this article, we tackled some key marketing hurdles your Web3 company might face. It’s just a slice of the many challenges you’ll bump into while trying to spotlight your company in this fast-evolving industry. My tip? Embrace these challenges and don’t let them knock you down. The obstacles you’re facing are the same ones other companies are dealing with. Getting past them is your ticket to gaining an edge. Keep providing value to your audience and community. Don’t just run marketing activities without a clear plan or ways to measure success, and remember, being transparent with your community and investors is crucial.
Good luck on your marketing journey! If you liked this article, go ahead and share it with your community and team.
FAQ
How can a Web3 company effectively gain the trust of its target audience, especially considering past industry failures?
Focus on transparency by showcasing your team, highlighting both successes and failures, and maintaining authenticity with your target audience. Conduct AMAs and ensure your team is accessible for community inquiries. Stay involved, approachable, and grounded. Demonstrate your expertise and vision.
What are the key strategies for attracting relevant traffic to a Web3 company, and how do they differ from traditional traffic acquisition methods?
Key strategies for attracting relevant traffic include mapping out the appropriate channels, understanding what resonates with your target audience on these platforms, and then concentrating on delivering genuine value through tailored content specific to each channel.
How do the evolving regulations around cryptocurrency and blockchain technology impact web3 marketing efforts?
Cryptocurrencies were long banned on major tech platforms like Facebook, Google, Twitter, and Reddit. This ban significantly limited the promotional channels available to companies, creating a price bubble in crypto news sites that persists to this day. The cost of publishing an article within the ecosystem is substantially higher than outside it, inherently making PR activities more expensive for web3 companies.
How do privacy concerns in web3 environments influence marketing strategies and consumer outreach?
People interested in cryptocurrency, blockchain, and web3 typically prioritize privacy. This inclination means they are less likely to leave details on online forms, click on ads, or engage in similar activities, posing a challenge for web3 companies in reaching their target audience. Consequently, a creative approach to content marketing becomes essential.
Author
Yuval Halevi
Yuval is a savvy SEO and marketing expert with over a decade of experience. Specializing in the blockchain industry, he's the go-to guy for crypto companies looking to simplify their digital marketing strategies and achieve explosive growth. As a digital nomad and successful company builder, Yuval brings a fresh, creative perspective to every project he tackles.