It’s time to talk about a topic that is ever-growing with regard to its importance within the Web3 space. Marketing. The scale at which the Web3 landscape has exploded in recent years has brought with it a plethora of opportunities to build and act upon new ideas. One common crux that is faced by founders however is getting themselves over the hurdles involved in marketing themselves correctly to attract the right audience. The current market conditions are anything but pleasant, further compiling the potential pitfalls facing founders. It emphasises the fact that an adequate strategy around marketing becomes ever more important.
Anyone that has spent time in the Crypto space can probably attest that an overwhelming % of projects replicate the same ideas over and over when it comes to their marketing. Let’s take giveaways as an example. Giveaways in general have exploded in recent years, not just in the Web3 space but also in the existing Web2 model. Like and share competitions, retweeting and like competitions were indeed once a savvy way to increase exposure to your business or brand in a relatively short space of time. That novelty quickly wears off and the concept has become somewhat oversaturated as time has progressed.
The same rings true for projects in the Crypto space. It seems there is a misconception that a one size fits all approach towards marketing has and always will work. This isn’t to say there still isn’t some success to be had in the giving away mechanism. If it’s quick exposure you want and need, people are always on the hunt for free tokens. A retweet, comment or like costs them nothing, assuming Twitter is the platform of choice. The question we pose here, however, is whether this concept is sustainable for a project hoping to set itself up for the longer term. In our experience, we’d argue not.
The key is to understand your target audience. Targeted market research allows for the opportunity to build insights and then formulate your marketing strategy with a data-driven approach. You can have all the best content in the world ready to go but if that content isn’t hitting the right eyes, it’s wasted. Building a relevant base of followers wields sustainable growth over the long term for a project. No pump and dumps. No passers-by coming through for a quick buck or a free meal (giveaway).
Influencers have also risen in prominence in the Crypto space. This is yet another option that can potentially be utilised in ineffective ways. Simply handing out to an influencer on the premise they promote the project on their platforms is no guarantee of success. In fact, if it is to have any effect, it’s likely to cause a quick pump in price followed by an even faster dump, damaging the reputation of the project as a result. The influencer won’t mind, it’s just another day for them in the space. The founder of the project is left to clean up the remains.
Understanding how to utilise and liaise with these prominent characters in the space is critical to building sustainably. You’ve probably noticed the repetitive nature in which we’ve referenced sustainability throughout this piece. For us, it’s critical, it’s at the very forefront of everything we do as a business and for our clients. For any founder proposing to build in Web3, if you aren’t focused on building sustainably for the long term, you’ll find that the ideas run dry very quickly.
TONSMA was created with the intention of bringing a new dimension to the marketing space in Crypto. That’s exactly what we’ve done. It’s a daunting task for any potential founder when beginning, we know. However, we thrive and take great satisfaction in delivering something unique to each client that is specifically tailored and targeted towards their needs. Marketing doesn’t have to be complicated and it certainly doesn’t have to be boring. That is exactly where we can come in.