Going against the wind: How to use the Web3 growth platform to ignite the market?

Question

The entire cryptocurrency industry is now like a backwater. Although some hot applications will emerge from time to time, during the DeFi Summer in 2018 or the NFT and GameFi boom in 2021, multiple projects are vying to emerge and compete for the limelight. Already become a thing of the past.

However, in this bear market where sentiment is low and users are silent, there are still some projects that can stir up excitement. So how do they do it?

The Way of Marketing: 7Ps Theory

From a marketing perspective, the successful launch of a product requires comprehensive consideration of seven elements: Product, Price, Promotion, Place, People, Process, and Physical Evidence. This is the comprehensive marketing model: 7Ps.

Specifically, the first four elements focus on early marketing’s focus on products and are the basis of product marketing; while the last three elements focus more on later service marketing and focus on services other than products. is the foundation of service marketing.

This article will take product marketing as the starting point to explore how high-profile projects in the bear market can successfully ignite market enthusiasm and stimulate user interest.

Product: Friend.tech that allows users to see value and potential benefits

When the market fell into a deep bearish mood, on August 10, Friend Tech entered the market with outstanding results. As of this writing, the trading volume of friend.tech exceeds 50,000 ETH.

How does friend.tech attract others’ attention:

On the one hand, for celebrities on social platforms, many fans want to talk to them, but they rarely get responses through mainstream platforms such as Twitter, Facebook, etc.; friend.tech has noticed this, invited KOLs to the platform, and provided services with KOLs. Opportunities for dialogue to attract users; and in order to increase their influence, the KOLs who have settled there will spare no effort to promote their own accounts.

On the other hand, judging from community feedback, the most common thing many members say is: How is this account?

In friend.tech, influence is directly reflected in the price. For buyers, after owning A's shares, if many people on the platform want to buy A's shares, the price will also change with the rise and fall of A's influence, and buyers can earn money by reselling the shares. profit.

Friend.tech is built under the social shell, allowing users to see the value and potential benefits of its own products under the concept of "social + finance", thereby acquiring users, and prompting users to spontaneously publicize and promote products, opening up the market.

Price: Price expectations brought by airdrops

Airdrops are a marketing strategy that can instantly expand the impact of a project. It has become a common method for project parties to use users’ value expectations for airdrops to achieve the purpose of getting out of the circle.

Not long ago, Sei immediately became the focus of many people's attention after announcing the launch of its mainnet and airdrop details.

Long before the mainnet was launched, the number of Sei's testnet addresses exceeded 1 million. Although there is still a certain gap between the number of independent wallet addresses of zkSync and LayerZero, Sei's results in the testnet stage are also impressive enough. It can be seen that this method of using users' airdrop expectations to drive project growth is not uncommon, but users are very happy with it.

After the mainnet went online, although the community had mixed reactions to the application process and the distribution model of the token airdrop, it is undeniable that Sei at that time mobilized the attention of the entire market, and the trading volume in the 24 hours after the token went online exceeded $1.4 billion.

Great Choice for Promotion & Place: Web3 Growth Platform

In the highly competitive cryptocurrency field, project parties spare no effort to develop promotion strategies to attract users' attention. Not only have they made great efforts in promotion forms, but they have also become diversified in their choice of channels. More and more project parties no longer rely solely on their own channels, but choose to use the Web3 growth platform to improve promotion efficiency and achieve faster growth.

When your product has been carefully packaged, or you have constructed an engaging narrative, by choosing the appropriate form & channel to promote it, you can achieve twice the result with half the effort.

HashKey Exchange

On the eve of the launch of the project, HashKey chose to use the growth platform to maximize market exposure.

In order to celebrate the launch of the Hashkey Exchange platform, Hong Kong's first licensed retail exchange, HashKey teamed up with its partners to launch an event on the Web3 growth platform TaskOn to fully publicize the official launch. The number of exposures on Twitter alone reached 168k.

According to the activity form, we can see that HashKey uses small activity rewards to unite partners, increase platform traffic, maximize the use of resources, and achieve the purpose of obtaining a large amount of exposure in a short period of time and attracting market attention.

Base

Like HashKey, Base also chose a growth platform to launch activities.

In the early stage, Base gained a reputation in the circle with the support of Bald and friend.tech. Even though the popularity of the two gradually faded, it still remained popular, and launched the Odyssey mission in Galxe: from August 9th to August 31st, New tasks will be opened every day, and users are encouraged to participate in daily tasks mint NFT. As of this writing, the number of participants has reached 322k.

Compared with creating a special page to publish Odyssey or celebration activities on your own channels (such as the official website or official Medium, etc.), what are the advantages of using the Web3 growth platform to publish activities?

The author believes that there are the following advantages:

Save resources: Like Odyssey or joint celebration activities, most tasks are complicated and highly repetitive. The Web3 growth platform provides a variety of task templates to simplify the setting of promotion activity tasks and reduce the team's development costs; and currently, most web3 growth platforms provide services for free, and project parties only need to prepare a budget for event rewards.
Information aggregation: Large-scale events like HashKey that need to publish multiple events with partners need a platform to help users obtain complete event information. The Web3 growth platform can do this to ensure user participation in the event to the greatest extent.
Maximize the reach of people: The Web3 growth platform has its own native user group. Publishing activities on its platform can maximize the expansion of its reach group; and the author recommends trying to publish your own activities on multiple growth platforms to further expand the activities. audience. Of course, when resources are limited and it is impossible to publish tasks on multiple platforms, you can carefully select 1-2 platforms , try to choose a growth platform with less overlap with Galxe users. Here, the author compares the user overlap between Layer3, TaskOn, and QuestN and Galxe:! Going against the wind: How to use the Web3 growth platform to ignite the market?

The user overlap between TaskOn and QuestN and Galxe is less than 10%, while Layer3 reaches 20%.

Carving a path to victory in a bear market

In the context of a bear market, market enthusiasm decreases and it becomes very difficult to stimulate user activity. This is a profit-driven market. If you can make users feel the wealth effect, you will have the opportunity to stand out in a highly competitive market and gain high attention from users and the market.

Products that polish product mechanisms so that users can see value and potential benefits are successful;

Products that take advantage of users’ price expectations for airdrops have become the focus of the market in a short period of time;

But for projects with limited budgets, the budget is not enough to support them being seen by the market, and the choice of promotion channels becomes particularly important. Use the Web3 growth platform, a tool with a huge user base, to launch a small-budget promotion campaign. It may be a wise choice to bring your own project to the market and start a development journey in a bear market.

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