4 Ways to Maximize Your Web3 Project’s Marketing

What is Web3 Marketing?

When we think of the most important aspects which lead to a project’s success, one common element always comes to mind: marketing. However, despite this being a popular answer, no one can really explain what this entails besides, “hire influencers and shillers”. Too often, marketing is treated as the largest black box in the DeFi and Web3 space, and even worse is how to track the performance of your marketing spending. Luckily, there is indeed a method to the madness of marketing that you can use to improve your project, get the most out of your marketing budget, and set yourself apart from the competition. The 4 ways to maximize your project’s marketing effectiveness are:

Establish Your Brand & Voice

It’s all too easy for your DAO to get lost in the sea of Web3 projects. With dozens of new projects being created each week, how can you make sure yours will stand out from the rest? The key is establishing a strong, unique brand and voice for your DAO, and be easily recognizable and appealing amongst the competition. Branding isn’t just the colors and logos you use, but the feel, tone, and messaging you use through which your current and potential audience members experience your organization.

When creating your brand’s voice, keep in mind that it should resonate throughout everything you produce from posts, graphics, and articles to your long-term marketing plan; consistency is paramount when it comes to voice. Once established, you can take it to the next level by making a brand and messaging guide. This will increase your transparency while making onboarding much easier. I personally recommend the books “The Brand Gap” and “Zag” by Marty Neumeier for more information on crafting your brand and voice.

Create an Agile Marketing Plan

Now that you’ve built your brand and voice, it’s time to get your marketing plan down. This includes both your short and long-term marketing plans. It’s key to plan for the long term but keep things flexible enough to adjust to new developments in the overall market and from within your project. In the fast-paced world of Web3 and DeFi, new trends and updates are bound to come up which requires you to change some aspects of your marketing and messaging. This is exactly why you need to be agile. Being quick on your feet will allow you to shift elements of your overall marketing without compromising the brand or long-term plan you have created.

The length of time in the future for which you plan your marketing will differ project to project; however, a good baseline for a DAO is 2–3 weeks for short term campaigns and quarterly for long-term campaigns. Short term will include your social media posts, articles, and promotional material. Long term, on the other hand, will be the journey you take your existing users on and through which you will gain new users. For creating a detailed marketing plan and system, be sure to check out “The 1-Page Marketing Plan” by Allan Dib and Joel Richards.

Market Appropriately to Your Audience

When planning your marketing items, the most important and overseen aspect to achieving maximum effectiveness is making sure you’re marketing to your appropriate audiences. All too often organizations are using their marketing budgets on campaigns and promotional events that don’t fit the community and userbase they are aiming for.

For example, if you are seeking to build a strong project that appeals to long-term and active contributing users, it’s probably not the best idea to spend money on an influencer who specifically markets Mooncoins and 100x pumps. You must keep in mind that it’s quality over quantity when you are building a userbase, and the marketing you choose needs to reflect and reinforce your brand, voice, and long-term plan you have established. Once you have found the avenues that fit your mission, it’s vital to have the next step set up to optimize your marketing spend.

Track Your Campaigns

If you’re following the steps, you’ve now created a brand, marketing plan, and put it in action by purchasing ads or endorsements. It’s time for the new users to roll in. The only problem remaining is, how can you know how many users your spending is getting and if the ROI is worth the cost. A popular saying in business is, “50% of my marketing works great. I just don’t know which 50%” Simply put, if you aren’t tracking analytics on your marketing items, you’re losing vital insights which are costing you money and time.

To avoid this, you can set up analytics on your site and for each campaign to see exactly how much traffic you are getting and if they are being converted to new and active users. How you go about this is entirely up to you, but a great place to start is with Google Analytics and custom links which will give you detailed numbers on where traffic is coming from and how users are interacting with your site.

Conclusion

To many creating a new project or DAO, marketing is one of the biggest obstacles they face. Worse yet is where to even start on this task. Thankfully, you don’t have to be left in the dark, and can take it bit by bit to build an effective and efficient marketing department; by establishing your brand, creating an agile marketing plan, appropriately marketing to your audience, and tracking your numbers, you will stand out from the competition. Better yet, these steps will not only give you key metrics for maximizing your marketing, but your entire organization.