Watch the full video: https://www.youtube.com/watch?v=ioRUeuvjnsU
1. Introduction and Overview
The session discusses how to achieve high conversion rates in Web3 marketing without relying on Key Opinion Leaders (KOLs). The conversation is led by Martin and Tarmo, founders of ChainAware.ai and SmartCredit.io, who emphasize the need for innovation in Web3 marketing strategies to bring the industry closer to mainstream adoption.
2. Problem with KOL (Key Opinion Leaders) in Web3 Marketing
KOL-based marketing, often used in Web3, is viewed as expensive and inefficient. Projects pay influencers (KOLs) significant amounts of money to promote their tokens and platforms, often without achieving meaningful user engagement or conversion. The hosts highlight how users trust KOLs, but the system is flawed as it often results in low conversion rates and high costs.
3. The Shift from Mass Marketing to Intention-Based Marketing
Web3 marketing, as it exists today, is mostly based on “one-to-many” mass marketing, where a single message is broadcast to many users, regardless of their individual needs or intentions. The hosts advocate for a shift to intention-based marketing, where messages are tailored to the specific needs and actions of users, improving engagement and conversion rates.
4. Challenges of Traditional Web3 Marketing
Traditional Web3 marketing relies on broad, non-personalized campaigns such as banner ads, articles, and KOL promotions. These methods do not consider the individual intentions of users and often result in low engagement. The inefficiency of this approach leads to high customer acquisition costs, sometimes exceeding $1,000 per transacting user, making it unsustainable for long-term growth.
5. Differences Between Web2 and Web3 Marketing
In Web2, marketing is highly personalized and data-driven. Platforms like Google and Facebook use browsing and search history to create intention-based ads, resulting in higher conversion rates. Web3, on the other hand, is still stuck in mass-marketing tactics, missing out on the potential of intention-based marketing despite having access to valuable blockchain transaction data.
6. Benefits of Intention-Based Marketing
Intention-based marketing allows companies to deliver personalized messages that resonate with the specific needs of the user, leading to much higher conversion rates. By understanding users’ intentions through their past actions, companies can craft tailored messages that align with user behavior, driving engagement and lowering customer acquisition costs.
7. The Power of Blockchain Data in Web3 Marketing
Blockchain provides a wealth of high-quality data that can be used for intention-based marketing. Every transaction on the blockchain is a strong indicator of user behavior, making it a powerful tool for predicting future actions. This allows Web3 projects to deliver highly targeted marketing messages, significantly improving conversion rates compared to the more generic Web2 data sources like browsing history.
8. AI-Based Solutions for User Conversion
Chain Aware has developed AI-based solutions that use blockchain data to predict user intentions with high accuracy. These tools help Web3 projects tailor their marketing messages to specific user profiles, such as NFT collectors or DeFi users. By targeting users based on their predicted behavior, companies can improve conversion rates and optimize their marketing strategies.
9. Reducing Customer Acquisition Costs in Web3
One of the key challenges in Web3 is the high cost of customer acquisition. Intention-based marketing, powered by AI and blockchain data, can bring these costs down significantly—potentially reducing them by a factor of 30 or more. By targeting users more effectively, companies can lower their marketing spend while increasing user engagement and transactions.
10. Future of Web3 Marketing and Conclusion
The future of Web3 marketing lies in adopting intention-based strategies that mirror the success of Web2. By leveraging blockchain data and AI to understand user behaviour, Web3 projects can reduce marketing costs, improve conversion rates, and facilitate the mainstream adoption of decentralized technologies. The conversation concludes with optimism about the future of Web3 marketing and the importance of innovation in this space.
