Web3 Marketing and the Power of Community with Amanda Cassatt | S3 E34
Jan 16, 2024
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Amanda Cassatt, founder of Serotonin and trailblazer in Web3 marketing, discusses the evolution of Web1 to Web3 and the importance of nurturing authentic relationships within online communities. She emphasizes the role of transparency and active stakeholder engagement in Web3 marketing and the need to measure success through the health and vibrancy of communities. The podcast also explores how traditional businesses can enter Web3 while maintaining authenticity and discusses the role of blockchain in fostering community and recording history.
Web3 marketing focuses on transparency and active stakeholder engagement within online communities.
Web3 communities prioritize engagement, discussions, and the quality of participants as crucial metrics for measuring success.
Deep dives
The Evolution of Web1 and Web2: Understanding Web3 Potential
In the early chapters of her book, Amanda focuses on the history of crypto and how it ties back to the original intentions of the creators of the web. The founders wanted a decentralized web-native value layer, but that didn't come to fruition until Web2 startup business models emerged. Web3, then, is a restoration of that original vision, aiming for a decentralized and open internet. Amanda emphasizes that Web3 is a return to the values of the creators rather than a completely new philosophy. The narrative explores the connection between Ethereum, Bitcoin, and the development of programmable blockchain technology. Ethereum and similar blockchains are considered the foundation for building a complex new financial system that offers decentralized, programmable money and new financial products.
The Role of Metaverse in Consumer Engagement
Amanda discusses the concept of the metaverse, defining it as any digital space where people focus their attention. The amount of time people spend in the metaverse has seen tremendous growth over the past decade. Amanda highlights the distinction between viewing the metaverse as a digital space in general and specific web3-enabled metaverse worlds. She shares an example of how Sotheby's auction house created a replica in Decentraland, a web3 metaverse, allowing users to bid on auctions using cryptocurrency. She also mentions how gaming companies with expertise in creating immersive worlds are likely to play a significant role in shaping the metaverse's future and its impact on consumer engagement.
Marketing in Web3: Customers, Community, and Metrics
Amanda explains that the marketing protocol is consistent across web3 and traditional marketing. It involves understanding the product, the audience, and delivering messages that resonate. However, she emphasizes that web3 communities expect transparency, participation, and ownership. Marketers should foster engagement, aligning the audience's values and positioning. Amanda suggests leveraging organic influencer marketing with aligned community members. Metrics in web3 are not solely based on quantity but also quality. To measure success, community size matters, but engagement, discussions, and the quality of participants are equally crucial. She advises projects to continuously ship new features, create valuable content, and stay engaged with their community to cultivate long-term success.
Embark on a revolutionary exploration of the internet's transformation with Amanda Cassatt, founder of Serotonin and trailblazer in Web3 marketing. Our latest episode promises to equip you with a comprehensive understanding of how the digital landscape has evolved from its decentralized beginnings in Web1 to the immersive metaverse of Web3. You'll discover how these radical changes are reshaping the way we think about marketing, moving away from numbers to nurturing authentic relationships within online communities.
As we venture into the nitty-gritty of Web3 marketing, Amanda highlights the paramount importance of transparency and active stakeholder engagement. Marketing isn't just about broadcasting to an audience anymore—it's about participating with them. Get valuable insights into crafting community-driven initiatives and learning to measure success through the health and vibrancy of these groups, rather than mere statistics. Furthermore, we touch on the inventive strategies necessary when traditional advertising avenues are less accessible for crypto-related content.
Wrapping up this enlightening conversation, we delve into the ways traditional businesses can make their foray into Web3 without losing their core values. We'll discuss the role of blockchain in fostering a sense of community and recording history, and how to maintain authenticity in the wave of new technological trends. Amanda also shares her anticipation for her upcoming book "Web3 Marketing," poised to be an essential resource for navigating this uncharted territory. Join us for this thought-provoking episode that cuts through the complexities of Web3, providing clarity and direction for the future of digital engagement.
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