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WEB3 MARKETING: HOW BLOCKCHAIN FIRMS ARE DOING IT ALL WRONG

Web3 marketing takes a different narrative and Blockchain firms are yet to understand that narrative. Learn more in this article.

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Web3 marketing is creating a whole new hive in the digital marketing industry. It’s easy to accept that Web3 products and innovations built on the Web3 technology are attractive to blockchain-literate individuals and complex to those who aren’t… and that excluding GameFi, it still poses a challenge to Web3 companies/firms to drive mass adoption of their products.

GameFi has been excluded because, without marketing, games are things that people naturally enjoy and by extension would love to tell others about it. 

The tech behind Web3 and all its emerging products and services might be fascinating but there is a gap between the deliverables on these products and the adoption or usage of it.

And that’s what this article aims to address…the Web3 deliverables-usage gap. I’ll explain:

  • Web3 marketing.
  • What wrong moves Blockchain firms are making.
  • How to do it better

WHAT IS WEB3 MARKETING?

In simple words, Web3 marketing covers the entire process or efforts directed at promoting, driving understanding, and building acceptance around web3 projects, products, and services.

Unlike Web2 which was championed by social platforms and applications; where users interacted with social apps to communicate, collaborate, and share user-generated content e.g pictures, videos, etc in a virtual community, Web3 is championed by innovative discoveries and possibilities, some of which might take some ‘getting used to’ for the ordinary person.

This makes its marketing angle different from Web2 marketing.

For Web2, people could easily send invites to others to begin using a particular platform e.g Facebook invites, Whatsapp invites, etc. 

They could share experiences that attracted others to interact with the social apps. 

They created groups and forums that could only be accessed through these social apps, you hear things like ‘Please send me Whatsapp so I can join the group’ or ‘The group chat is on Telegram, you have to download the app to take the course’, etc.

Web2, didn’t need much introduction. Everyone, or almost everyone, uses social platforms, especially the likes of Facebook and Whatsapp. The marketing was different. 

These social platforms didn’t need to spend so much time or effort marketing their applications.

It’s amusing that they had so much publicity, recognition, and awareness that in reverse, they started to allow others to advertise to us using their platforms. The irony! They had that much user capacity.

But Web3, Web3 cannot do that right now.

WRONG MOVES BLOCKCHAIN FIRMS ARE MAKING WITH WEB3 MARKETING 

Because Web3 is emerging and relatively new compared to Web2, its marketing angle should be more educational than informational. 

Marketing in Web3 should teach users to look at things differently instead of just informing them(on the premises that they have prior adequate knowledge).

At the moment, the only company actively using this approach is Binance

Granted that they’ve been operational for five years, they’ve also improved marketing tactics and paid attention to what other blockchain firms have neglected: SEO and content marketing.

Through their blog (academy), Binance has built authority over time as the go-to platform to find crypto-related answers. Using the basic questions that users have to drive adoption, authority, and recognition to their organization. 

Here are backend statistics of their academy performance in the last three months (at the time of writing):

Binance and Web3 marketing
Binance Academy traffic and engagement

In the past three months, there has been a cumulative total of 12.6m visits to their website and a high percentage of this traffic came organically through search as seen below:

Binance marketing channels overview
Marketing channels for Binance

‘Search’ makes up for over 1.8 million of the total traffic to the Binance academy website. 

One question to ask is, ‘What did they do differently from other blockchain firms?’

Here’s what: They utilized SEO and content marketing. They ensured that when people start looking for answers to their crypto-related questions, they have answers to meet them and a platform to guide them to.

Recently I wondered, ‘there are several blockchain firms but what questions are they answering?’

Again, these companies may have real utilities for their products/services but who knows about these utilities, first locally, then beyond. 

It might interest you to know that people are increasingly asking questions, that they can’t ask other people, to search engines? 

A quick example, some people do not trust crypto savings or investments and go to Google to know/find out if they should do so. 

Blockchain firms have ignored the need to answer simple questions that users are asking and have chosen to promote their platforms instead. 

It’s not all bad but it’s Web3 marketing, people need to learn then earn as we always say in the space.

Campus activations, meet-and-greets, and sponsorships are great but these are offline events, sometimes some of these events are attended by people who do not have the provision and capacity to start using your platforms yet. 

But leveraging on SEO and content marketing allows you to meet interested people on the spot, people who are actively interested and can start on your platform.

DOING IT BETTER

SEO and content marketing are no quick fixes to the Web3 deliverable-usage gap but they are sustainable solutions to bridge the gap. 

SEO takes about six months to start showing real changes but integrating it with content marketing (where you aim to bring value to the user first before promoting your product) would improve your short-term marketing results pending the 6-months wait time for SEO.

We all want to see mass adoption and quick adaptations to blockchain technology and to do so, we have to start at the grassroots level. 

CONCLUSION

Web3 marketing can be done differently. Lightblocks can help your Web3 project with marketing, node setup, and a host of other services. Join our community to reach us.

Read how Loozr is integrating Music and Web3.

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Onyeka is a multiple google ranked content writer. Loves to cover stories on Blockchain and Cryptocurrency and write in a way that is captivating and understandable.

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