Currently, one of the biggest problems that pains every growth leader regarding their users is understanding what these users are thinking and what they really want to buy. This is largely driven by the data silos created by Web2 platforms.
Using both Web2 and Web3 data in tandem solves that beautifully in real time. While both these types of data are sourced differently, when used in tandem this can result in cohesive growth strategies by looking at what makes each user communicate, engage & transact.
Here's how you can leverage both data types for your Web3 project's adoption strategies.
What do we define as critical Web2 data?
Web2 data includes insights from traditional centralized companies such as Twitter and Google.
1. Social Data
Social data represents all information publicly shared by a social media user, including personal data like languages spoken, education, family background, and links of interest to the user. This data is stored in databases and provide a microscopic overview of each user.
These apps are commonly used by web3 projects for communication due to their largely intuitive and habitual user interface. It’s rare to find a Web3 project without an active Twitter or Discord.
For example, Bored Ape Yacht Club achieved mainstream success in the NFT space thanks to its community strength on Discord and Twitter. Its community frequently engaged in social media and organized in-person meet-ups.
Discord, Twitter, Reddit, Medium, and Telegram are some of the most common Web2 channels where you can get real-time information for use in Web3 projects.
2. Platform Data
Platform data includes all statistics and analytical tools used for marketing, such as customer behavior analytics, and user traffic. This Web2 data can be obtained from Google Analytics & search trends, e-commerce, advertising, and sales data from platforms like Amazon and Shopify. As the data is inferred from a large set of users, it is best used for having a macroscopic overview of the users.
What are Web3 data sources, and how is it different from Web2 data?
Web3 data uses Blockchains to store information. Blockchains are largely public ledgers with complete information on a network’s transactions. This transparency allows Web3 developers to leverage on-chain data to know their user base better.
While the functionality might seem similar to Web2, Blockchain technology shouldn’t be confused with a centralized server. Most of the information stored in the Blockchain is transactional, such as the date of the transaction or the crypto wallet address that initiated the transaction. Hence, since Web3 data is open and transparent, it serves as a single source of truth for marketers trying to derive useful insights.
How can Web3 marketers leverage Web2 data to drive growth?
Web3 data is transactional, which means they are objective results and cover the last part of the customer acquisition funnel. On the other hand, Web2 data is subjective. It offers insights into the user's underlying motives, goals, and sentiment before they go on to make a blockchain transaction.
Thus, weaving together the anonymous Web3 data from the blockchain to the user's Web2 presence offers the holy grail for marketers or growth leads of Web3 brands to identify, segment, target, and track results for each user.
In a Discord server, a Web3 project will receive a constant influx of members, or perhaps they’ll find some members leaving out of the blue. Every time they organize a social campaign, they generate insights in Web2 as to which campaigns are attracting the most attention of potential new users.
Here are some examples of the same:
- Followers obtained from a Meme tweet campaign on Twitter.
- Members who participated in a Discord server giveaway.
- An audience that has reached the Web3 project’s website and increased its traffic.
Segmentation is the process of dividing your consumer market so marketing strategies can be personalized based on user activity and attributes. Typically, segments will be based on value, demographics and past purchases of a company's products. In web3, you can also segment based on what else a customer has purchased in the past. This is a whole new set of shopper insights, which were not available before. Connecting web2 and web3 data makes segmentation a lot easier.
Targeting breaks your audience into different segments and creates activities to communicate with user segments.
Using first-party data, which is data volunteered to you by your users, gives you the leverage to track any quantifiable metric of the user while they are on your app. It enables you to target the right customers and increase personalization and integration in your marketing strategies. It is also more cost-effective and fairer to use data you’ve gathered through user opt-in, or public information, than from databases compiled from third-party sources.
Based on segments that consider both web2 and web3 data, such as what they talk about in a Discord server, alongside when they made their first blockchain transaction, enables marketers to fine-tune the messaging sent to users.
Once you know your target segments, you can run campaigns and identify how that reflects on both your Web3 transactions as well as your community and social media growth. Based on the results, you can iterate and focus deeply on how to grow your daily active members, improve community sentiment, and/or drive customer retention.
Having a tool, like Blaze, that helps connect web2 and web3 data can make web3 marketers' lives a lot easier. Register with Blaze to get all your questions answered.