Web3 businesses need a substantive way to funnel consumers. Taking advantage of the memetic nature of crypto networks has proven successful for many in marketing products, yet, this won’t last forever. Web3 is entering prime time. As a result, it is time to talk about web3 lead generation. Here’s everything you need to know.
What is web3 lead generation?
Lead generation in web3 is the process of identifying and cultivating potential customers, or “leads,” for a business’s products or services. In other words, it’s the process of finding people who are interested in what a business has to offer and turning them into actual customers.
Once a lead is identified, businesses use various marketing and sales techniques to nurture the relationship and move the lead through the sales funnel. This can include things like targeted email campaigns, phone calls, and personalized content to build trust and persuade the lead to make a purchase.
In marketing, a funnel refers to the path that a potential customer takes as they move through the stages of the buying process. The funnel is a visual representation of this path. The widest part at the top represents the largest pool of potential leads, and the narrowest part at the bottom represents those who actually make a purchase.
Why Is web3 lead generation important?
Lead generation is important for several reasons. Instead of relying on cash infusions during a ZIRP (zero-interest-rate policy) environment, lead generation is a great way to finance web3 projects during a bear market.
Furthermore, it allows businesses to identify and cultivate potential customers interested in their products or services. By focusing your crypto community growth strategies efforts on these potential customers, businesses can increase the likelihood of converting them into paying customers and ultimately increase sales.
In this way, lead generation is also cost-effective. By focusing your efforts on potential customers, you reduce wasted resources, acquire valuable data on customers, and increase your return on investment (ROI).
Lead generation also builds brand awareness. Crypto branding is everything when it comes to crypto marketing. A great example of a company that excelled at this was FTX — for better or worse. Brand awareness can lead to more word-of-mouth referrals and long-term customer loyalty.
Even if potential customers don’t immediately convert into paying customers, lead generation efforts can help to increase brand awareness, thus increasing sales and reducing expenses in the long term.
For help with web3 lead generation or to boost your business or project at any stage, contact our team of web3 marketing specialists.
Tips and strategies for web3 lead generation
With the right advertising campaign, businesses can create targeted campaigns that reach their ideal customers and entice them to take action. Whether you’re a small business owner or a seasoned marketer, these web3 advertising tips will help you generate more leads and take your business to the next level.
Join web3 communities
If you want to generate leads in web3, you have to go where the people are and engage with the crypto community. There are many online platforms where you will find your target audience. Some of these include:
- Discord
- Telegram
- Twitter (often called Crypto Twitter or “CT” for short)
While not a full list, these are popular places where web3 community building naturally flourishes. Host a Twitter Space, answer questions on Redditt, and do AMAs (ask me anything) on Discord. These are all effective ways to generate leads in web3 communities.
It is important to note that crypto communities are vast, have subcultures, and shared audiences. “Link marines” and “Bitcoin maxis” may not share the same spaces; conversely, it is more likely that the “Doge army” and “SHIBArmy” shares participants. These are important points to consider.
Attend web3 events
Unlike the formative years of crypto, online communities are spilling over into the real world. Your target audience is both online and offline. If you want to reach them, you have to put boots on the ground.
Attending web3 events, meet-ups, conferences, and hackathons puts names to faces. This builds trust and a reputation with potential customers. People feel better when they can associate “Joe” or “Jane” with the face of a company.
Crypto events occur throughout the year and all over the world — so it isn’t very difficult to find one. You can also search for a crypto events calendar if you have trouble finding a relevant event.
Leverage social media
According to research published on Sprout Social, consumers want to engage with brands more on social media. Crypto social media marketing is an extremely successful method for marketing crypto projects while connecting with potential leads.
Information on the web spreads like gossip or an epidemic. Therefore, social media is a cost-effective way of advertising your crypto projects. While this may be true, advertising crypto projects on social media may come with some red tape. Some platforms like Google or TikTok have discouraged crypto ads in the past.
Nevertheless, popular social media platforms for crypto lead generation include Twitter, YouTube, Reddit, Discord, and Telegram.
There are many other popular social media platforms; however, those mentioned above are primarily where you find crypto enthusiasts. For example, YouTube web3 marketing is popular for crypto projects.
Collaborate with crypto influencers
In the same way that you want to see your favorite actors and athletes collaborate, consumers want to see their favorite brands connect with influencers. This shows potential customers that their favorite brands are “hip” or “in the know.”
Additionally, collaborating with crypto influencers can offer a pseudo stamp of approval, which gives the potential lead more confidence to try out a new product or service. Influencers have an already established relationship of trust with their audiences that your business can benefit from.
Their audience trusts them and, by syllogism, is more willing to trust you. Influencer marketing is essentially just another form of affiliate marketing. Affiliate marketing is one of many performance-based web3 marketing strategies in which a business rewards an affiliate or a group of affiliates for each new customer or lead that they bring to the business.
Use targeted advertising
Targeted advertising is a type of advertising that is aimed at a specific audience based on their demographic, interests, behaviors, or other characteristics. Targeted advertising aims to reach the right people with the right message at the right time.
Is your audience in Europe? Maybe they’re in South America. What age group or occupation are you looking for? Perhaps your preferred demographic likes reading Substack over Medium, or short-form vs. long-form content. These are all questions you must ask yourself when considering targeted advertising.
Many websites and applications will place ads on your timeline or feed based on your search history and purchasing behavior. This is perhaps the most obvious modern form of targeted advertising.
Optimize for SEO
SEO (Search Engine Optimization) is the practice of optimizing your website to rank higher in search engine results pages (SERPs). Search engines like Google require you to generate organic traffic before they suggest your website.
To optimize for SEO, conduct keyword research to identify relevant keywords and phrases, optimize your website structure, create quality content, utilize crypto link building, and ensure your website is mobile-friendly.
By implementing these strategies, you can improve your website’s visibility and drive more organic traffic to your site. Ahrefs, SEMrush, and Moz are a few tools you can use to optimize for SEO and generate leads. On the other hand, you can also utlize a crypto SEO agency if you don’t want to optimize in-house.
Create lead magnets
With this in mind, meeting potential customers face-to-face presents an opportunity to create lead magnets. A lead magnet is a web3 marketing tactic that offers potential customers something of value in exchange for their contact information.
The idea is to create a compelling incentive for potential customers to provide their email address, phone number, or other contact information. This is then used to nurture the relationship and move them further along the sales funnel. Examples of lead magnets are:
- eBooks or whitepapers
- Webinars or video tutorials
- Free trial or demos
- Discounts or coupons
Use lead scoring
Lead scoring is a process of assigning a score or ranking to each lead based on their level of engagement and interest in your product or service. The goal of lead scoring is to prioritize leads and focus your sales and marketing efforts on the leads that are most likely to convert into customers.
Lead scoring involves evaluating different factors, such as a lead’s demographic information, behavior, and engagement with your brand. For example, a lead who has visited your website multiple times downloaded a whitepaper, and attended a webinar may receive a higher lead score than a lead who has only visited your website once.
By assigning a score to each lead, you can determine which leads are most likely to convert and prioritize your sales and marketing efforts accordingly. This allows you to focus your time and resources on the leads that are most likely to result in a sale and improve your overall conversion rate.
Employ email marketing
Email marketing is a digital marketing strategy that involves sending promotional messages or advertisements via email to a targeted list of subscribers. It is an effective way for businesses to reach out to their customers and promote their products or services directly.
One of the major benefits of email marketing is its cost-effectiveness. It is relatively inexpensive compared to other marketing channels like TV or radio ads. Another benefit is that email marketing allows businesses to track campaign performance and measure ROI.
Various email marketing services are available in the market, like Mailchimp and Campaign Monitor. With the help of various email marketing services, businesses can easily create and send effective email campaigns.
Optimize conversion rates
Optimizing conversion rates is a critical aspect of digital marketing, as it can help businesses increase their revenue and grow their customer base. Here are some strategies that can be used to optimize conversion rates:
- Improve website design: The website should be easy to navigate, visually appealing, and optimized for mobile devices.
- Optimize landing pages: Landing pages should be tailored to the specific needs and interests of the target audience. They should have a clear call-to-action and be optimized for search engines.
- Use A/B testing: A/B testing involves testing two website or landing page versions to determine which version performs better.
- Improve website speed: Slow-loading websites can frustrate visitors and lead to a high bounce rate. Improving website speed can increase the likelihood of visitors staying on the site and converting.
- Use clear and compelling copy: The copy on a website or landing page should be clear, concise, and compelling. It should highlight the product or service’s benefits and provide a strong call to action.
- Leverage social proof: Social proof, such as customer testimonials or reviews, can increase trust and credibility. Including social proof on a website or landing page can help increase conversion rates.
- Offer incentives: Offering incentives, such as discounts or free trials, can effectively encourage visitors to convert into customers.
Analyze your data
After you have completed all of the previous steps, you will undoubtedly have a lot of data to sift through. Analyzing the data is an important step in web3 lead generation. It will help you assess and readjust your marketing efforts.
Some of the data you collect is statistical noise. You won’t need all of it. For example, the leads that require NFT advertising will not have the same data as those needing smart contract auditing services.
The data you should analyze will depend on your business and the goals you want to achieve. However, some common types of data that can be useful for lead generation include:
- Demographic data: This includes information such as age, gender, income, and location. Demographic data can help you understand your target audience and create marketing strategies that appeal to them.
- Website analytics: This includes data such as website traffic, pageviews, bounce rates, and conversion rates. Website analytics can help you understand how people are interacting with your website and identify areas for improvement.
- Social media metrics: This includes data such as engagement rates, followers, and shares. Social media metrics can help you understand how your target audience interacts with your brand on social media and identify opportunities for engagement.
- Email marketing data: This includes data such as open rates, click-through rates, and unsubscribe rates. Email marketing data can help you understand how your target audience responds to your email campaigns and identify areas for improvement.
- CRM data: This includes data such as customer contact information, purchase history, and customer service interactions. CRM data can help you understand your customers’ needs and preferences and create personalized marketing strategies that resonate with them.
Nurture your leads
To nurture your leads, it’s important to build relationships with potential customers and provide them with value. When leads are in the funnel, nurture them with relevant content. Helpful content helps them progress naturally through each sales funnel stage until they are prepared to move to sales.
Every buying cycle stage requires nurturing, ensuring no revenue opportunity is lost. To successfully nurture leads, understand their stages, personalize messaging, and analyze past campaigns. Develop a clear plan and automate communications, starting with a welcome campaign.
You should also follow up with leads, offer incentives, and use multi-channel communications to nurture your leads. Segment your leads and monitor your campaigns for effectiveness. Remember that lead nurturing is a long-term strategy that requires patience, persistence, and a customer-centric approach.
Key metrics for evaluating your web3 lead generation performance
Measuring the success of your lead generation strategy can ensure you are making the most of your efforts and resources. There are several ways to measure the success of your lead generation strategy, each providing a unique perspective on how your strategy is performing.
First, it is important to track the number of leads that are generated through your various channels, such as your website, social media, or email campaigns. This can give you a good idea of the overall effectiveness of your lead generation strategy. However, the quality of your leads is just as important as the quantity. Those showing interest in your products are more likely to convert.
Measuring the conversion rate of your leads into customers is also crucial in determining the success of your lead generation strategy. This will give you an idea of how effective your lead generation strategy is at driving sales and revenue for your business.
Additionally, calculating the cost per lead can help you determine the ROI of your lead generation strategy. Do this by dividing the total cost of your lead generation efforts by the number of leads generated.
It is also important to analyze the customer lifetime value of the leads that are generated through your lead generation strategy. This will give you an idea of the long-term value that these leads can bring to your business.
Finally, tracking engagement metrics can provide insight into how your target audience is interacting with your content. Measuring metrics such as click-through rates, open rates, and social media engagement can help you refine your strategy over time.
It’s all about the data
Achieving success in web3 lead generation is heavily dependent on data. By leveraging data-driven insights, businesses can optimize their lead-generation strategies and increase their chances of converting prospects into customers. Collecting, analyzing, and interpreting data can help businesses identify trends, improve targeting, and measure performance.
As web3 technology continues to evolve, companies that prioritize data-driven approaches to lead generation are better positioned to succeed in this rapidly changing landscape.
Looking for help with lead generation and marketing your web3 business or brand? Contact our specialists and find out more here.
Frequently asked questions
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