Welcome to the first Lecture of the web3 Marketing course In today's article we’ll be covering what marketing in web3 is and what makes it different from marketing in web2.
First, what is Marketing?
‘the action or business of promoting and selling products or services, including market research and advertising.’ — google
Marketing is the act of promoting your product to potential customers or users. When marketing you have the notion that your product will improve the life of your ideal user.
What is web3 marketing?
Web3 marketing is community marketing, in web3 marketing, you’re marketing with the community, to the community, and everyone benefits from the successes or failures of the marketing campaign, either in the financial sense of a token or in the increase of quality in the community.
Upstream’s co-founder of Alex Taub explains the transition of communities from web1, to web2 and web3:
“In 1.0, your community is IRL and based on things like where you were born, where you went to school, what sports team you supported, etc.
In 2.0, your community was a URL, where you joined interest-based online groups across Facebook, Reddit, Discord, etc.
In 3.0, the community is all about ownership. Being part of a community means you’re providing funding to run the community and gaining transparency and voting power.”
That said, marketing in web3 isn’t an entirely new concept. As Alex says, “marketing doesn’t change, what people care about does” — and there’s some truth to that.
When marketing to a web2 audience they only care about the product working but in web3 marketing, there’s a paradigm shift, users (not all) care about privacy, decentralization, the long-term viability of the product, etc.
In the web3 world reviews of the community and product goes are public and go hand in hand, so the team not only needs to worry about the product but also about the community.
Product defensibility in web2 is all about an ecosystem lock-in but in web3 it's more about building a better product that serves users best and a vibrant community.