In the everchanging and adapting world of web3, as marketers we have to stay agile (at all times)!

Navigating Web3 marketing can feel like venturing into uncharted territory, devoid of a tried-and-true playbook. Unlike established fields such as SaaS or eCommerce, where a wealth of knowledge is readily available through the shared experiences of countless marketers, the landscape of Web3 marketing is marked by constant change and a relative lack of comprehensive documentation.

In this dynamic and evolving space, emerging successful strategies and processes are often shrouded in uncertainty. Launching a Web3 product becomes a formidable challenge, as the absence of a clear roadmap increases the likelihood of stumbling through a series of unavoidable mistakes.

Drawing from our extensive experience, our agency has encountered and learned from every conceivable mistake in the Web3 marketing playbook – having made our fair share of missteps along the way.

In an effort to guide fellow marketers through the complexities of this nascent field, we’ve compiled a list of the most prevalent Web3 marketing mistakes and, more importantly, effective strategies to sidestep them. Join us as we unravel the intricacies of Web3 marketing and pave the way for a smoother journey in this innovative digital landscape.

10 Common Web3 Marketing Mistakes You Need to Know!

To guide you through the 2024 crypto bull run, whether you’re building your web3 project or brand or aiming to boost transactions on your blockchain network—whatever your objective may be—we’ve compiled a list of web3 marketing pitfalls to steer clear of. By avoiding these mistakes, you’ll accelerate your path to achieving your business goals.

Okay, let’s check out some of the typical slip-ups we’ve noticed in web3 marketing. Your go-to guide for avoiding these in 2024…

1. Overlooking the Importance of Educational Content:

Your personal insights are so important. Share them!

Neglecting the creation of informative and educational materials about Web3 technologies can result in the alienation of potential users. Establishing a comprehensive understanding of the intricacies of the technology is not merely beneficial but imperative for effective user onboarding and seamless adoption[2].

In essence, the omission of educational content within your Web3 strategy might inadvertently erect barriers for users seeking to engage with your platform. A profound grasp of the underlying technologies can empower users, fostering a more meaningful connection with your offerings.

Therefore, it is paramount to recognise the pivotal role that well-crafted educational content plays in guiding users through the complexities of Web3 and ensuring a smoother transition into the realm of these transformative technologies. Educational content stands as a cornerstone for user acquisition and the successful integration of Web3 technologies.

2. Only Building Your Company Social Media & (Not Personal)

Don’t forget that people want to hear from people!

For Web3 marketing agencies, a common misstep emerges when they prioritise building a social media following for their corporate accounts over cultivating a presence on personal ones. Research consistently underscores that individuals are inherently more inclined to engage with a person rather than a faceless brand. Despite this, Web3 companies frequently invest significant resources in attempting to establish their corporate Twitter or LinkedIn profiles as a primary top-of-funnel strategy, a pursuit that proves to be notably challenging.

The prevailing wisdom suggests a more fruitful avenue lies in redirecting attention toward the personal accounts of the leadership team. Studies reveal that personal connections, authenticity, and relatability are key drivers of engagement on social media platforms. Attempting to foster these qualities becomes considerably more challenging when operating behind the veil of a corporate entity.

Authentic engagement, a cornerstone of social media effectiveness, thrives when it emanates from individuals rather than faceless company accounts. Therefore, the strategic allocation of time and effort toward cultivating a vibrant and authentic presence on the personal accounts of your team’s leadership emerges as a more effective approach.

As we explore the intricacies of social media strategies within the Web3 domain, let’s delve into the compelling reasons behind prioritising personal over corporate accounts and the nuances involved in building genuine engagement in this ever-evolving digital landscape.

3. Setting Unrealistic Expectations and Falling Short

Unfortunately, something a lot of web3 marketing agencies have become know for!

It is what sets many web3 marketing agencies apart from their web2 counterparts – albeit for the wrong reasons.

One of the prevalent pitfalls in the Web3 landscape is the tendency to overpromise and underdeliver. Many Web3 initiatives face setbacks due to an excess of ambition, with projects often aiming for the stars only to be thwarted by the harsh realities of execution. The all-too-common outcome is a series of major failures that could have been mitigated with a more grounded approach.

To circumvent this inherent challenge, it is imperative for founders to adopt a more measured strategy. Instead of shooting for astronomical goals, founders should prioritise transparency and realism in their communication. Sharing realistic roadmaps with the target audience becomes a pivotal step in managing expectations and fostering trust.

Equally essential is the recognition that success in the Web3 sphere is often an incremental journey. Rather than attempting to achieve grandiose milestones in one giant leap, founders should emphasise the importance of scaling gradually. This approach not only minimises the risk of overreaching but also allows for a more sustainable and adaptable growth trajectory.

In essence, the key lies in aligning ambitions with practicality, emphasising the value of steady progress over audacious leaps, and ultimately establishing a foundation of credibility and trust within the dynamic landscape of Web3 projects.

4. Ignoring SEO: A Crucial Aspect in Web3 Marketing

This is one that is neglected all too often!

In the intricate world of Web3 marketing, the significance of Search Engine Optimisation (SEO) often takes a backseat, to the detriment of long-term success. SEO, a proven and reliable strategy for enhancing online visibility, tends to yield favourable outcomes, provided your business isn’t entrenched in an ultra-competitive niche. However, the caveat is that SEO is a patient game, demanding a considerable investment of time for substantial results – typically around 6 to 12 months.

The prevailing issue arises when marketing teams adopt a myopic perspective, tackling Web3 strategies with a narrow timeline measured in days or weeks, rather than the more realistic span of months or even years. The consequences of such short-sightedness manifest in lacklustre results and missed opportunities for sustainable growth.

Contrastingly, teams that embrace a more patient and forward-thinking approach, considering marketing and growth as long-term endeavours, tend to garner greater trust and build robust brands over time. SEO, a versatile tool in the digital marketing arsenal, holds equal relevance in the realm of Web3, contributing to enhanced visibility and credibility.

Now, you might be tempted to interject with the pressing need for immediate results. Fear not, as a balanced strategy is within reach. While focusing on short-term tactics, you can concurrently establish an SEO plan, as these two approaches are not mutually exclusive. Once the initial strategy and processes are in place, SEO teams can often be set on autopilot, allowing you to reap the benefits of both short-term wins and long-term growth. As we navigate the multifaceted landscape of Web3 marketing, let’s unravel the reasons why SEO remains an indispensable cornerstone for digital businesses of all kinds.

5. Hyper-Focusing on Technical Details in Web3

It’s all about the right messaging, tailored to the right audience…

In the Web3 space a prevalent challenge emerges as founders, often hailing from technical backgrounds, succumb to the misconception that their audience shares their intricate understanding of the technical nuances inherent in Web3 technologies. This assumption, however, falls short of the reality that a substantial portion of the Web3 target audience lacks a technical background.

The critical misstep lies in assuming that the broader audience comprehends the technical intricacies with the same depth as those immersed in the development side of Web3. In truth, the majority of the Web3 user base is non-technical and requires information to be communicated in exceptionally simple terms for optimal comprehension.

Effectively bridging this communication gap becomes pivotal. The challenge extends beyond delivering information; it encompasses the art of breaking down complex technical concepts into digestible and easily understandable narratives. By navigating away from an exclusive focus on technical minutiae, founders can forge stronger connections with their audience, fostering a more inclusive and accessible approach to Web3.

As we delve into the dynamics of Web3 communication, it becomes evident that striking a balance between technical depth and user-friendly explanations is key. Join us on this exploration of why a nuanced understanding of the diverse audience within the Web3 space is crucial for effective communication and user engagement.

6. Trying to Do All Marketing In-House & Not Using Agencies

In-house marketing VS marketing agency: which way to go?

A pivotal decision often revolves around the structure of the marketing team – whether to build an in-house team or leverage the expertise of external agencies. Recognising that no one is an expert at everything, the decision-making process becomes a delicate balancing act between the benefits offered by both approaches.

Engaging with an agency unlocks several advantages that can be challenging to replicate with an in-house team. Firstly, the agility to add or subtract resources swiftly is a distinct advantage. The process of hiring an agency proves to be significantly quicker and more streamlined compared to the time and effort required to build a team from scratch. This flexibility is especially valuable in the dynamic and fast-paced environment of Web3.

Furthermore, agencies bring to the table a wealth of data and knowledge garnered from previous campaigns, particularly those executed for companies in similar domains. The extensive experience an agency accumulates over time surpasses the likelihood of an in-house team possessing comparable expertise. This wealth of insights empowers agencies to provide informed guidance on strategic decisions, potentially saving valuable time and resources.

Another notable benefit is the lower management requirements imposed on you and your team when working with a reputable agency. A proficient agency is adept at self-management, allowing you to receive effective marketing services without diverting your focus from other crucial responsibilities.

While seasoned individuals with experience in building and managing Web3 marketing teams may find success with an in-house approach, for the majority, the merits of collaborating with an agency often outweigh the alternatives. Join us on this exploration as we dissect the nuances of this strategic decision-making process, shedding light on the factors that make agency collaboration a compelling choice for many navigating the complex realm of Web3 marketing.

7. Neglecting Community: A Crucial Part of Web3 Marketing

Never underestimate the importance of community in web3…

The importance of cultivating a vibrant and interactive web3 community cannot be overstated – it serves as the beating heart and soul of every successful project! The unfortunate reality is that many Web3 initiatives face failure when they veer away from honest and consistent communication with their target audience. It’s in this critical juncture that the importance of treating your community as your most fervent cheerleader comes to the forefront.

To avert this perilous oversight, it is essential to prioritise and nurture your community, recognising them as instrumental contributors to your project’s success. Building an engaged community involves more than just disseminating information; it entails fostering genuine connections, encouraging open dialogue, and valuing the insights and contributions of community members.

By treating your community as an integral part of your journey, you not only fortify your project with unwavering support but also tap into a wellspring of collective wisdom and enthusiasm. Your community, when accorded the priority it deserves, can become a dynamic force that propels your project to new heights.

In our exploration of Web3 best practices, we delve into the pivotal role of community engagement, unravelling the reasons why a thriving and interactive community stands as a linchpin for success in the ever-evolving landscape of Web3 initiatives. Join us as we uncover the nuances of community building and its transformative impact on the trajectory of Web3 projects.

8. Ignoring Web Design: A Crucial Part of Web3 Success

Does you project or brand look the part? Presentation is key!

In web3 (just like any other industry), your website isn’t just a component of your business – it is the nexus of your online presence and the linchpin of your marketing endeavours. Its visual appeal and functionality directly impact user experiences, and, consequently, overlooking the importance of web design can have profound repercussions.

A poorly designed website can significantly hamper conversion rates, acting as a deterrent for potential customers and partners. The repercussions for Web3 companies with lackluster websites extend beyond aesthetics; they often find themselves grappling with elevated marketing costs per result, diminished trust compared to competitors, and increased friction during the onboarding process for users, customers, and partners alike.

Despite the clear correlation between website design and overall success, it’s surprisingly common to witness businesses with substantial marketing budgets opting to forego a site redesign, even when the cost is a fraction of their marketing expenditures. This oversight is particularly pronounced in the Web3 space, where the audience places significant weight on visual appeal and user experience.

Web3 audiences, known for their highly visual preferences, demand a website that not only conveys information effectively but also does so with an aesthetically pleasing design. Investing in a site redesign is not just an expense; it’s a strategic move that pays dividends in enhanced user engagement, trust-building, and overall brand perception.

In our exploration of Web3 best practices, we shine a spotlight on the often underestimated realm of web design, highlighting the undeniable value it brings to the success of digital businesses. Join us as we underscore the importance of making the investment in a well-designed website, emphasising its pivotal role in the competitive and visually-oriented landscape of Web3.

9. Not Utalising Media: A Must for Web3 Projects & Brands

Do you have a media arm to maximise exposure?

In the ever-evolving landscape of digital business, the underutilisation of an internal media arm stands as a missed opportunity with far-reaching implications. My firm belief is that every digital enterprise should consider cultivating an internal media presence, a potent asset that yields multifaceted benefits.

Firstly, an internal media arm proves instrumental in the acquisition of new leads. Through the production of regular, high-quality content, businesses can capture the attention of their target audience, establishing a connection that goes beyond mere transactions. This, in turn, contributes to building trust with leads already in the marketing funnel, fostering a sense of authenticity and reliability.

Moreover, the consistent output of content serves as a powerful mechanism for reminding people of your existence. In the competitive digital landscape, maintaining top-of-mind awareness is crucial for sustained engagement and brand recall. Beyond mere visibility, a well-managed media arm contributes significantly to building a brand that not only stands out but also outcompetes rivals in the market.

Companies that recognise the value of investing in regular, high-quality content production tend to outperform their counterparts. However, the implementation of an effective media strategy can be a substantial undertaking. For those not well-versed in media management, a prudent approach involves considering the services of an agency or a dedicated content manager. This strategic move acknowledges the nuanced demands of effective media management and ensures that it receives the attention it deserves, avoiding the pitfalls of being mismanaged by individuals juggling other significant responsibilities.

In our exploration of digital business best practices, we emphasise the strategic imperative of maximising the potential of an internal media arm, uncovering the transformative impact it can have on lead acquisition, trust-building, brand development, and overall competitiveness in the market. Join us as we delve into the intricacies of crafting a robust media strategy that aligns with the dynamic needs of the contemporary digital landscape.

10. Undervaluing the Potential of Affiliate Programs in Web3

The power of affiliate marketing cannot be underestimated…

In the dynamic landscape of Web3, a common misstep arises when businesses, particularly those in specific sectors like exchanges, casinos, and digital-based product providers, underestimate the strategic impact of well-designed affiliate programs. This mistake is particularly pertinent to industries where affiliate marketing can be a powerful driver of cost-effective growth.

Certain business models, such as exchanges, casinos, and digital product providers, stand to benefit significantly from thoughtfully crafted affiliate programs. These programs, when properly designed, serve as catalysts for efficient and scalable growth. The unique characteristic of affiliate marketers lies in their minimal brand loyalty. When creating content about the best offerings in their niche, affiliates are inclined to recommend the options that offer the most lucrative incentives.

Furthermore, the affiliate marketing community is relatively close-knit. Winning over a key affiliate can have a cascading effect, leading to additional endorsements and partnerships within the network. Therefore, investing in affiliate relationships is not just a short-term transaction; it’s a strategic move with long-term network effects.

A key piece of advice is not to skimp on compensating affiliates appropriately. The competitive nature of the affiliate marketing landscape requires businesses to offer competitive rates, with initial rates potentially set high, such as 10% of revenue, and then adjusted based on the evolving economics.

For businesses falling within the mentioned categories, having an affiliate program is not just a suggestion—it’s a strategic imperative. Ideally, the program should incorporate multiple tiers to maximise its effectiveness. In our exploration of Web3 marketing strategies, we uncover the untapped potential of affiliate programs and their ability to shape the trajectory of businesses in these specific sectors. Join us as we delve into the nuances of designing and implementing impactful affiliate programs that fuel sustainable growth in the competitive realm of Web3.

Concluding Thoughts

Navigating Web3 Success: A Call to Heed Conventional Wisdom and Continuous Learning

As we have discussed, in the world of Web3, the seeds of failure often find fertile ground in the neglect of time-tested principles and the repetition of avoidable mistakes. The underlying truth is that success in the dynamic realm of Web3 is closely intertwined with a commitment to staying informed, connected, and agile.

By disregarding conventional wisdom and failing to learn from past mistakes, businesses in the Web3 space risk falling behind in the rapidly evolving market. The key to staying ahead lies in maintaining an unwavering connection with valuable resources such as Web3 books, communities, and videos. These reservoirs of knowledge not only offer insights into current trends but also provide a crucial understanding of the market dynamics, enabling businesses to make informed decisions and course corrections.

Web3 is a realm where intelligence and adaptability often triumph over sheer superiority. It’s not merely about being the best; it’s about being smart—smart enough to recognise the evolving landscape, embrace continuous learning, and proactively engage with the wealth of resources available. Staying on top of the market is not a one-time achievement but an ongoing commitment to staying connected, informed, and responsive to the ever-shifting nuances of Web3.

As we traverse the dynamic landscape of Web3 strategies, let’s underscore the importance of heeding conventional wisdom, learning from mistakes, and embracing a mindset of continuous improvement. Join us in this exploration of the integral role that knowledge, connectivity, and astute decision-making play in achieving lasting success in the intricate and ever-evolving world of Web3.

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