How to Grow Your Web3 Community: Best Practices
Web3 caters to a diverse group of people. And that makes sense, because who wouldn't want a bit more say in their privacy, the future of the platforms they use, and how they control their assets? But, in order to move effectively in the space and understand what draws people to — and keeps them invested in — your project, it is important to do a bit of grouping. So, to start at the very, very beginning, there are two extremely broad categories among Web3 communities.
How to Grow & Engage Web3 Communities
Web3 caters to a broad spectrum of individuals. It's understandable, given the enhanced privacy control, influence over platforms, and asset management that it offers.
However, to navigate the space effectively and grasp what attracts and retains people in your project, it's crucial to categorize. To start with the basics, there are two primary classifications within Web3 communities.
🤑 Financially Driven — Many are drawn to crypto due to the profitable investments it can provide. While these communities can educate newbies about your project and often act in its best interest as investors, they may dissipate quickly if the token price declines.
💫 Ideologically Driven — This type of community tends to be robust. They align with your mission, vision, and objectives, propelling them all forward. You can often find the best contributors and collaborators here.
Each kind of community has its inherent value in Web3. While some clearly fall into one group or the other, these categories are typically not exclusive. It's common to find a small, dedicated ideologically driven community nestled within a larger financially driven one.
And indeed, there are various methods to transition more individuals into one category or the other, because communities are never stagnant unless they're defunct.
Understanding the overall value of a community, what they contribute, and how they can align with your project's goals and timeline can be critical.
Power in Numbers
People place significant importance on numbers. When investing, be it buying a few tokens or making larger investments, evaluating the community is common practice. While quality matters, quantity is a faster metric to assess. This is where much of the Narrative & Sentiment originates, and why financially driven communities should not be underestimated.
Price & Investments
When someone investigates your community to gauge its strength, the number at the top counts. The larger the community, the more likely someone is to invest in your project. If you're fundraising, having a substantial community can be a compelling selling point.
Undoubtedly, these aspects improve when you can also showcase engagement and contributor metrics!
Ever heard of the network effect? In essence, as your community expands, each member gains access to and influences a specific number of people, which multiplies exponentially.
Personal referrals and recommendations are some of the most effective ways to acquire new members, so the larger your community, the faster it's likely to grow.
What tools can you use to expand?
Bots are always an option, although not necessarily a recommended one. People are quick to recognize spammy, bot-infested communities. If you choose this route, proceed with caution.
Alternatively, airdrops and referral campaigns can rapidly bring a surge of people to your community. These members will generally be more financially motivated. However, with the right strategy, you might convert them into true believers.
And, of course, addressing real issues will always fuel growth! Your task is to get people to learn about your solutions. If these solutions are necessary, growth should eventually drive itself.
A large, dedicated community can be key to successful announcements and project milestones. They'll propel your token launches, amplify any news you have, and help convert others. Therefore, it's worthwhile to invest time, effort, and indeed money, into creating a substantial community that feels included, heard, and aligned with your goals.
Contributions vary, from providing feedback, either formally or informally around the internet, to voting, to contributing actual labor. Regardless of the level, all contributions are extremely important and signify a massive shift from Web2 to Web3.
One of the reasons why Web3 is so thrilling and potent is because it fosters open collaboration. Everything is fresh and exciting, often being stress-tested in real-time, necessitating new solutions.
An active user base in Web3 is well aware they can make their voices heard, and they will communicate their needs.
With voting and labor contributions, you begin to engage with the types of communities that power DAOs (Decentralized Autonomous Organizations). But contributors can be an essential part of any project, extending its reach, creating much-needed support materials, and influencing the project's trajectory, and arguably, the direction of the entire space.
What strategies can be used to increase engagement and contributions?
There are numerous tactics, and savvy community managers will continue to devise more! But mainly, it's about identifying who's already investing time and rewarding them!
Identify your stars. Who's already engaging, welcoming, and guiding people in your community? Would they be willing to help you moderate, stream, write, advocate for developers, or establish a regional chapter?
To ensure engaged people stay involved and encourage new ones to participate, use motivational tactics, such as:
- Direct Incentives — figuring out how to reward community contributors can pique the interest of less ideologically motivated individuals, potentially affecting contribution quality. However, for considerable commitments, rewards are crucial!
- Social Recognition — you can also highlight and uplift active members within and beyond your community. Reputation carries weight in Web3, and helping someone build theirs usually results in a win-win situation!
Make people feel they belong! Reward them with badges, early-access, beta-testing, interviews, tickets, etc. This serves a dual purpose. Firstly, community members are recognized and feel valued for their contributions. Secondly, they may be thrilled by whatever perk you can offer or at least be happy to be part of the group receiving it!
The more you can get your community to interact with each other, the more value and time they're likely to derive from being there. Consequently, your community will begin to develop a life of its own!
The Foundation of Web3
Let's be clear: Web3 is built for people, which is why maintaining a community-centric approach is critical.
As an increasing number of individuals and companies embrace Web3, preserving this aspect is paramount. The good news is that presently, Web3 communities are directing project trajectories and setting trends in the space. Listening and understanding what works and what's needed — and then providing that — excites many.
However, identifying trends and understanding their root cause is an excellent way to gauge what excites people about Web3!
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