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Staking Circle
Staking Circle
Oct 28, 2024
6 min read

Defi Marketing Unleashed AMA Recap

Defi Marketing Unleashed AMA Recap

The Defi Marketing Unleashed AMA delved into effective Web3 marketing strategies, highlighting the balance between technical education and simplified messaging needed for mass adoption. Speakers emphasized the role of active, team-led community engagement, moving away from incentive-heavy growth toward building sustainable communities through transparency and trust. With Web3’s unique challenges, the team discussed content strategies, social media approaches, and the importance of clear, genuine value propositions to retain users beyond token rewards.

Panelists also explored the nuanced differences between Web2 and Web3 marketing, the growing saturation of points-based programs, and best practices for DeFi protocols to build long-term community loyalty. Dive into the highlights to discover actionable insights on Web3 community-building and user retention strategies.

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Speakers:

Featured Speakers:

Index:

  1. Social Media Managment for Defi Protocols

  2. Differences Between Web3 vs Web3 Marketing

  3. Building and Maintaining Defi Communities

  4. Content Creation Strategies

  5. The Role of Intern Accounts and Team Personalities in Brand Building

  6. Transparency and Education as PIllars of Community Trust

  7. Final Thoughts on Community Growth and Ecosystem Collaboration

  8. Closing Thoughts

Social Media Management for DeFi Protocols

  • Diogo discusses the importance of co-marketing with partners for higher user conversion:

"[11:06] I just think that, you know, at least on Renzo, one thing that we've been focusing on a lot is co-marketing, especially because it allows us to attract users from our partners who we know are first of all token holders and, second, have an interest in these kinds of products. We end up increasing conversions by doing these targeted campaigns with partners."

  • Verdades highlights the need for an “explain like I’m five” approach in content:

"[15:02] I agree on the LE5 or explain-me-like-I’m-five approach when it comes to social media. You need to ensure that users understand what we're talking about. Often, these kinds of DeFi products or protocols aren't easy to grasp."

Differences Between Web2 and Web3 Marketing

  • Sara emphasizes consistency in user education and bridging trust:

"[21:44] There’s a lot of hacks, a lot of gaps in knowledge, and we also need to provide deep educational content that allows users to better understand what is happening in the protocol and, importantly, how to stay safe in this space."

  • Krystyna highlights transparency in blockchain as a key differentiator:

"[28:53] Well, I just joined, so maybe I can give a perspective from an analytics point of view. What I find super interesting...is the difference in access to data because, obviously, in Web3 and blockchain, everything is totally transparent."

Building and Maintaining DeFi Communities

  • BBYB shares insights on creating a central narrative or “character” for community unity:

"[38:13] You saw maybe with classic examples like McDonald's back in the day, how they had the clown and built an entire marketing structure around it"

  • Diogo encourages fostering in-person relationships to strengthen community bonds:

"[41:05] You can pretty much be aware of where the team is located. If you want to grab a coffee, lunch, wherever we are, let us know, you know, on Discord, Twitter – lunch or coffee is on us."

  • Adelia stresses the importance of team involvement and active participation:

"[42:50] I just want to add one more point on basically showing up, right? I think showing up is half the battle won."

Content Creation Strategies

  • Diogo underscores the need for simplifying technical explanations:

"[13:28] One thing that we've been doing is focusing content on the benefits that are easy for the user to understand. Sometimes, for marketing teams, it's challenging to put ourselves in the user’s shoes."

  • Tim discusses the blend of “memes and education” in reaching DeFi users:

"[19:27] I think a key thing in the DeFi space is that by default, a lot of people are very skeptical. And I think what it comes down to is that DeFi is creative in coming up with new ways for yield."

  • Emily on combining storytelling with educational content to engage users:

"[35:05] I think that’s something I personally hope to incorporate more – more storytelling, less technical information in my campaigns. I think that’s actually how marketing should evolve over time."

Points Programs and Incentive Management

  • Diogo notes challenges with long-term community management around points systems:

"[59:50] I think protocols shouldn’t sell their soul to the devil to give investors a sellout or buyout once the token is live. Dumping on users who’ve been with them for two, three, four years isn’t the way."

  • Verdades emphasizes transparent communication with users regarding incentive structures:

"[59:53] Transparency is really important when building a community... transparency about development goes a long way in building trust with the community."

The Role of Intern Accounts and Team Personalities in Brand Building

  • Loop Intern shares the value of intern accounts for informal communication and KOL outreach:

"[50:19] We’ve gained a lot of traction from it – not just posting memes but doing calculations and things we can’t do on a main account. We do this through our intern, and connecting with KOLs is so much easier since we don’t have to be as formal."

  • Diogo elaborates on how intern accounts add flexibility in sharing informal or humorous content:

"[54:38] ...it’s helpful that we have these smaller accounts where we can build DeFi strategies for the protocols we’re connected with."

  • Krystyna highlights the importance of active team engagement across personal accounts:

"[1:00:48] So for community building and getting new users, make sure your team is active, and people at the core of what you’re doing are there. The community will follow them because they believe in and are inspired by them."

Transparency and Education as Pillars of Community Trust

  • Tim emphasizes educating users on protocol safety as a way to combat skepticism in DeFi:

"[19:07] I think a key thing in the DeFi space is that by default, a lot of people are very skeptical...explaining where yield is coming from, as well as explaining security audits and highlighting these features, because the underlying tone when I learn about a new DeFi project is, 'Are they going to run away with the money"

  • Adelia discusses how educational content and transparency are essential in community engagement:

"[23:44] When it comes to education, it’s about making sure we translate things into simple language so people can understand the potential and opportunities this represents."

Final Insights on Community Growth and Ecosystem Collaboration

  • Gonzalo emphasizes the importance of personal branding for team members within Web3 communities:

"[46:49] …the founders should be engaged. And I think that’s one of the most important strategies that’s come up recently in this space. And it’s really working."

  • Tim notes how growth strategies vary across ecosystems and the importance of partnerships in smaller chains:

"[55:36] A lot of niche DeFi projects in ecosystems like Polkadot, ICP, or Multiverse, Polygon need to use different strategies. They often look at the top products on Solana or Ethereum and then try to deploy that into a niche ecosystem. That doesn’t often work as well."

Closing Thoughts

  • Emily shares a final perspective on community and product alignment: "[1:20:50] ...having that dialogue and conversation with people who are testing your product, using your product, or validating a roadmap if it’s not built yet. That’s really the crux of building a community."

  • Inspirational Quote: "[1:21:21] Be yourself and be kind." :)

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