How brands can build community in web3

Building a solid and engaged community is vital for brands to drive growth and increase customer loyalty. The key to achieving this is to focus on the whole community, not just individual segments. Brands need to understand the communities they want to be a part of by gathering insights on why members participate, how they feel about the brand’s products, and their unmet needs. This understanding helps brands communicate effectively and generate an emotional response, which leads to a long-lasting relationship between the brand and the consumer.

Following are some steps brands can take to build a community around their products and services in web3.

Build buzz-worthy Product

To stand out in the crowded online marketplace, brands should concentrate on a few select products designed to generate excitement and interest. These “buzz-worthy products” are essential for cutting through the noise and helping consumers understand what sets a brand apart. To promote these essential products, brands can use a variety of tactics such as heavily nurturing them on all web2 and web3 communication channels, investing in experiential marketing like pop-up stores, partnering with influencers, launching interactive marketing tools, and making sure the buzz-worthy products are easy to find online.

Established brands can use Rarible, an NFT marketplace, as a platform to build buzz-worthy products by creating limited-edition digital collectibles that are exclusive to the platform. This can include creating unique digital versions of their products, collaborations with famous artists and influencers, or creating entirely new digital experiences only available on Rarible. For example, a fashion brand like Gucci could create a limited-edition collection of virtual handbags only available as NFTs on Rarible. They could also partner with a famous artist to create a virtual fashion show that is only accessible to NFT holders. They can also use influencers to showcase the new NFTs and make them more popular among the audience.

By creating these buzz-worthy products, the brand can drive consumer interest and excitement and differentiate itself from competitors in the digital marketplace. Additionally, by using Rarible’s blockchain technology, the brand can offer its customers a new level of security and transparency and create a new revenue stream by selling NFTs.

Create brand value around the Product

Brands need a transparent and credible brand story that aligns with their values and resonates with their target audience. This story should be communicated in a way that is relatable and easy for customers to understand and share. Brands should be open about their beliefs and showcase how they embody these values through their products and actions. Brands should showcase how they embody their values through their products and activities. For example, a clothing brand that values sustainability could use sustainable materials and ethical production methods in its products and communicate these actions through its marketing and packaging. Brands can also create a sense of community among their customers by encouraging them to share their stories and experiences and by regularly engaging with them through social media, events, or other activities.

Many web3 platforms exist for brands to create unique value around their product; the following are two platforms.

  1. SuperRare: SuperRare is a curated marketplace for digital art where artists and creators can sell unique, one-of-a-kind digital artworks as NFTs. Brands can use SuperRare to collaborate with digital artists, create exclusive, limited-edition digital artworks that align with their brand story and values, and offer customers a new way to engage with the brand.
  2. Flow: Flow is a blockchain-based platform that enables creators, developers, and brands to build decentralized apps and games, and create NFTs, with the ability to create a unique digital experience for the customer that aligns with the brand values. Brands can use Flow to create interactive experiences and games that align with their brand story and values and offer customers a new way to engage with the brand.

Initiate Conversation

Brands must create a strong connection with their target communities by providing them with exciting and engaging content. This can be achieved by continually updating the conversation, recognizing and supporting influencers who promote the brand, and understanding the community’s needs and wants. It is essential to have a community-centered operating model in place to manage and monitor consumer and influencer activities. Brands should gather feedback and ideas from their community, be open to testing new products, and invest time in aligning with influencers to increase authenticity. They should also set goals and guidelines for the influencers and create a library of content for them.

Brands can connect with their customers and initiate conversations on many web2 platforms like Twitter, Facebook, etc. Following are some platforms that are built specifically in web3.

  1. Discord: Discord is a communication app that allows brands to create servers and channels to engage with their target communities. Brands can use Discord to share updates, news, and content and engage in conversations with their followers.
  2. Substrate: Substrate is a blockchain development framework that allows brands to create decentralized apps and games and engage with their target communities. Brands can use Substrate to create interactive experiences and games and engage with followers.

Frictionless Access

Consumers expect an easy and seamless shopping experience on all platforms, including desktop and mobile devices. However, many retailers struggle to meet this expectation and, as a result, face high abandoned cart rates and lost sales. Factors such as page load speed and the number of images on a product page can significantly affect a consumer’s willingness to purchase. New forms of online shopping, such as social commerce, are increasing the demand for a frictionless experience. Companies should be prepared to adapt and quickly test new channels as a core part of their conversion team to meet the increasing needs of consumers.

Several web3 platforms can provide frictionless access for brands to sell their products and services. Following are two examples include:

  1. 3Box: 3Box is a decentralized data storage platform that allows brands to store and manage their customer data securely and frictionlessly. This can include product information, purchase history, and customer preferences.
  2. Zapper: Zapper is a decentralized finance platform that allows brands to easily access, manage, and track their digital assets frictionlessly.

Web3 provides many opportunities for brands to implement strategies to stand out in the online marketplace and connect with their target audience. By building buzz-worthy products and creating brand value around them, brands can cut through the noise and make a strong connection with their target communities. Additionally, by initiating conversations and engaging with their target audience, brands can better understand the needs and wants of their community. Finally, by providing frictionless access to their products and services, brands can improve the customer experience and reduce abandoned cart rates.