Building a Web3 community for brands is a way to step in the Web3 with a stable foundation they can use to build upon, and help flourish in the future. The point is a community is the most important part of any web3 project. From the start, brands need to have a Web3 presence where interested parties can find them and help spread awareness about their project.
A Web3 community- What is the deal?
A Web3 community is a community where individuals can share the value created with their actions and ownership. The ownership is secured through blockchain based smart contracts, which determine how and when they are resold. In a Web3 community, each member can be a creator, unlike traditional Web 2.0 communities. Members of a Web3 community can share digital ownership and then get paid to develop their skills in a blockchain-secured ecosystem.
A Web3 community can also be affiliated to a community-token structure. More private and democratic, this type of community can become its own secondary market, with tokens being traded from person to person, meaning they might be able to get inside information about the work of other members or even see what they have created before it becomes public.
Why a brand should build a Web3 Community
The Web3 often refers to the future of the internet. But what does it mean for a brand? A Web3 Community is an opt-in membership, but instead of offering exclusive access to members, it offers exclusive access to buy-in. With Web3, your brand can build communities that are more engaged, more loyal and more profitable than ever before. This is because Web3 allows brands to build communities on their own terms, with members who are fully invested in their community’s success by holding tokens as well as other benefits. There are many reasons why a brand should consider building their own Web3 Community.
Brand loyalty is important for any business that relies on recurring revenue from customers. A strong community can improve brand loyalty by creating an ecosystem that brings together partners, affiliates and other stakeholders who share common interests with each other as well as the brand itself.
In order to build strong relationships with influencers, brands need to be present in their communities where they spend time engaging with others on similar interests. This will allow them to build trust among influencers and solidify their position within the industry as an authority in their field or niche market
Membership is a powerful tool for community building and scaling. It can function as an investment and members hold ownership. Membership gives a way for the community to scale without selling more memberships. It also allows for different types of memberships to exist within a single community, which opens up new opportunities for revenue generation, like one-time purchases of bundles or subscription models.
Nonetheless, if a community is an invaluable asset to any brand wanting to launch a Web3 project, building one from scratch is no easy task.
Tips and tricks to build a Web3 community
What does building a community really mean? They main objective of this section is showing how to create one and manage it successfully. On top of that, it is about sharing the whole machine of building and growing your own web3 community so that your brand can start sharing ideas and collaborating with others. Here are valuable tips to grow an engaged and loyal Web3 community.
Learn from the Web3 culture to get by
Having a bit of understanding of the Web3 culture is fundamental. This means having an overview of what makes Web3 so special will be the first step to grow a thriving Web3 community. The Web3 culture is unique and can be difficult to understand. It’s also evolving quickly, so it can be hard to keep up with all the changes. Marketing or sales teams may find themselves at a loss when trying to understand the nuances of Web3 culture. However, the Web3 sphere is full of people who are genuinely excited about crypto and blockchain technology. They usually want to help newbies to learn about this new technology and how it can change the world for the better.
Getting to know the culture and Web3 process is less difficult than it seems. It can start by learning the Web3 lexicon, what a regular Web3 community may appreciate, getting to know other communities and their processes. As far as they are concerned, memes for instance have been a huge part of the Web3. Even though each community is unique, harvesting knowledge of the biggest ones might give brands keys for growing their own. Web3 is a technology-heavy sector, and the meme culture is a huge part of it. Memes bring a slice of humanity in the Web3 code trail. And this is what attracts people, a touch of personalization. So each community won’t have the same sense of humor and just this single thing can make the difference. Creativity is the key!
Learn to know your own community
What better way to be aware of what your target may like than listening to them and learn to know them? Building a community is also learning to know who your audience is. This could be people already following your brand or folks in your radar. For a project to succeed, it is essential to build a community around the product or service. The community will be the ones who will bring value to the project, whether by promoting it, contributing in one way or another or creating value around it. Either way, the best thing to do is learn more about them by keeping an eye on the following points:
- Knowing who you’re targeting
- Finding out what they need and provide it in due time
- Finding out what they like and give them more of that
To know if what you provide is relevant for them, you must start by those questions: Who looks more interested or receptive to my project? Who may help me build this community? What interests them? What kind of content do they share? How do they interact with each other? The answers to these questions allow you to better understand who your target audience is and where they are located. This is why it’s important to know what your audience wants to do with your product.
Sharing common interests or experiences can be helpful too. It is always a way to bring out conversations which will possibly attract and interest the people who would be easier to retain.
Clarify your goals with your Web3 community
If you are starting from scratch, the first step is to establish your goals and objectives. These should be clearly defined and measurable so that you can evaluate how successful your brand has been at achieving them and share them with your community. The point is the goal you are setting for your brand should be conform with your objectives around the community. If you are building a DAO (Decentralized Autonomous Organization), looking for people who can invest in them is much more relevant. For something new, brand ambassador will be more helpful to raise awareness around the brand or its project.
Moreover, transparency is a critical component to build trust with your community. When you are open and honest about what you are doing, it gives rise to trust. It means you are being honest with your users about what’s going on with the product and how you’re working towards achieving your goals. Transparency also helps build credibility for your brand, product or service and the team behind it. And transparency means communicating with the community, giving them enough information about the progress, letting them know anything relevant for the next steps.
Find the best platforms for your Web3 community
The key to growing a web3 community is also finding the right platforms for it. Telegram, Discord, and Twitter are the three most popular social networks among web3 communities. Discord and Telegram are the most used. Both offer free services and are used by thousands of people every day. Discord provide a multi-platform with boost servers dedicated to specific topics. Twitter enhances Web3 discussions and eases the access to Web3 influencers. But no need to be present in each platforms, even if each has a spacial features. Choosing one or two of them to launch your web3 community is also a viable option.
However, a lot of crypto communities are moving from the traditional social media platforms to home–built Web3–based platforms. Those platforms, such as Crew³ should also be taken to account. Some other are emerging in the crypto-sphere such as Instagram which will soon be a space where people can buy and sell NFTs.
Learn from other communities
There are a lot of great communities out there. Take a look at how other communities operate and learn from them. Another way to start is to get started is by joining an existing community. There are lots of great communities out there where you can learn more about Web3 culture and get involved with other like-minded individuals. Some of them focus on specific topics like specific blockchain such as Ethereum while others focus on broader issues like governance or education. The key here is finding one that works best for you and your brand goals and projects.
The Web3 ecosystem is made up of many different communities. Each one has its own unique characteristics and personality. Some are large, some are small, fast-growing or more mature. There are all kinds of ways to categorize them, by type of activity or topic, by location or language, or by any other metric any can think of. But regardless of how people slice it, there’s something to learn from every Web3 community out there.
After having benchmarked other communities, you can get the key to create a successful community:
- A strong product or service or project, which will be the core
- A well-designed storytelling and brand identity
- A dedicated team who are willing to invest time into building it out, which will be the backbone
- Passionate people who like being part of something bigger than themselves, which will give energy and boost to your Web3 project.
Keep the community update, harvest the feedback, get them involved
A brand have to be resourceful and willing to go out on a limb if it means growing its business. To do so, it will be crucial to bring users into the brand product loop and take into account their feedback and improvement proposals. Getting users involved is for sure the best way to keep them engaged. It is giving power back to people, letting them know what they think matter, and that their contribution give more meaning to the project. When brands gives value to their members, they are rewarded with loyalty.
Engagement means that you’re listening to their feedback and acting upon it in some way. In particular, it means that you’re not just asking them for feedback and then ignoring it, but rather actually implementing those changes. This is the best way to have an audience which is participating in the project, and can even bring along brand ambassadors or advocates to grow the brand value.
The community is what makes a Web3 project strong or weak. A lot of Web3 projects have found great ideas for their development when leading team have dared to seek for their users knowledge and feedback. Users provided a great amount of ressources, which gave a lot of confidence for those teams willing to build a decentralized future.
Consistency is the key to grow your Web3 community
Consistency is one of the most important aspects of growing any community. Consistency shows strength, trust, and commitment from your team.
When building a community, it’s important to remember that your users are not just consumers of your product, they are also the backbone of the project. This is the key to creating an effective community. The real challenge is building something people want to be part of and feel involved with. It should be a community where people can share funny contents and feel they are each, a whole part of it.
Your team must then be engaging with and answering questions or comments regularly. Not only does this help build trust with your users, but it also allows you to collect feedback directly from them which is essential for any project development. Users will pay a great attention on your team proaction, reaction, and content consistency over the time. Lacking consistency may result in a project failing. Avoiding it is basically keeping users posted, updated. The working team must as well be aware of scams surrounding this ecosystem and notify the users.
A team well established in the We3 ecosystem can even find advocacies and reward them with social tokens which will give them a percentage over the brand’s benefits.
For further tips in building a strong and engaged Web3 community, you can rely on these following:
- Make sure the community is constantly updated
- Give the right information at the right time
- Set up rules and welcome new members
- Vary the content format and be funny
- Search for personalization while keeping it simple
- Be responsible and accountable in case of mistakes. The community will always value honesty
- Treat people the same way in the community
- Spread love, without being awkward
To learn more on the Web3 and how brands should make their transition, read 3 STEPS TO TRANSITION YOUR WEB2 BRAND TO WEB3
For more, download our white paper ENTERING IN THE WEB 3.0 – A GUIDE FOR LUXURY FASHION IN THE METAVERSE