How do you learn from your Web3 users and customers?

The Web3 ethos is communal and meant to help each other get better and stronger, which is unique in many ways. So, to learn from the users and customers, all that's required is to understand where and how the community engages and interacts and then be present in those places and engage in various ways to learn from them. Active engagement on Discord, Telegram, Twitter and other social communities helps pick up user sentiments and address concerns. Regular feedback surveys and one-on-one interviews provide insights into user experiences, motivations, and expectations. Leveraging analytics tools, we can identify patterns in engagement and feature utilization for data-driven decision-making. These techniques enable continuous improvement.

Let me share the toolsets I typically use to learn from Web3 users and customers to develop a successful go-to-market strategy. 1. CustDev + JTBD. Client’s feedback loop to push your development with clarity. 2. Discourse analysis. To find out what people are saying about your brand. 3. Focus Group. An effective way to test concepts and extract new ideas to implement. 4. On-chain analysis. The most powerful tool for exploring inside-product user behavior. 5. Surveys. To know the size of all cohorts and how to deal with them. 6. Desk research. Provides you with the general image of the market.

Web3 turns users into an advisory board that, when activated properly, can be a catalyst for growth. Users in Web3 expect to participate, co-create and be active stakeholders. This gives businesses an unparalleled opportunity to get first-hand feedback that allows them to create products and solutions that fully address user challenges.

Learning from your Web3 users is not very different from learning from your Web2 users. Step 1 is always to know who your customers are and how they use your product. In the early days, if you have a handful of customers, rely on direct feedback. This could be through 1:1 meetings, community, emails, surveys, etc. Remember, the feedback from your first set of customers is very crucial and plays a huge role in shaping the trajectory of your product. I also recommend being data-savvy and collecting user data early on. In Web3, the advantage lies in accessing on-chain data, which gives you a more comprehensive user profile compared to Web2. This includes insights such as users' interactions with other contracts, transaction patterns, etc.

To understand your Web3 user segments, leverage the rich on-chain data generated by blockchain interactions. Start by analyzing transaction histories, wallet activities, and smart contract engagements to categorize users. Common segmentation criteria include transaction volume and frequency, distinguishing between casual and power users; DeFi protocol participation, identifying those engaged in exchanges or lending; NFT interactions, differentiating collectors from creators; and governance involvement, spotlighting active participants in DAOs.

Engaging with your Web3 community effectively involves incentivizing participation through token rewards, directly aligning with the decentralized ethos of Web3. Implement token rewards for valuable feedback, participation in surveys, or active involvement in community discussions. Utilize governance tokens to involve users in decision-making processes, enhancing their sense of ownership and commitment. Offer tokens for beta testing new features, rewarding those who contribute to product improvement. Establish token-gated access to exclusive content or forums, incentivizing token holding and active engagement.

In my experience, fostering meaningful engagement with our Web3 user community has been instrumental in gaining valuable insights. Actively participating in forums, social media groups, and hosting interactive events has allowed us to directly connect with our users. Regularly soliciting feedback and conducting surveys has proven effective in understanding their needs and preferences. Leveraging decentralized platforms and blockchain technology has also facilitated transparent and traceable communication, fostering trust within our community. This two-way dialogue has not only enhanced our product development but has also forged lasting connections with our Web3 users, ensuring a collaborative and user-centric approach.

The Web3 user community is more grassroots-oriented than your typical product-focused communities, in which people are often more proactive in voicing out their opinions about a company's direction. After all, especially for projects with publicly sold crypto tokens, they have a stake in the company's growth and prosperity. Knowing the psyche of the Web3 community members is the first key step to learning how to engage with them. They won't typically respond well to traditional marketing methods, as they are more of a shareholder than a consumer for your project, so appeal to their sense of financial independence and other highly regarded Web3 values to make an impact with your user engagement.

At the core of Web3 are the principles of ownership, participation, and co-creation. Those who interact with Web3 applications explicitly want to be involved. Give them the opportunity!

Engaging with your Web3 community is crucial. Platforms like Discord, Telegram, Twitter, and Reddit are key for interaction, updates, and support. Enhance participation by offering incentives like airdrops, governance tokens, or referral programs. This not only provides insight into user needs and preferences but also fosters loyalty and trust. A strong, engaged community is invaluable, offering direct feedback and promoting a sense of belonging, pivotal for sustained growth and innovation in the Web3 space.

Engaging with your Web3 community effectively involves incentivizing participation through token rewards, directly aligning with the decentralized ethos of Web3. Implement token rewards for valuable feedback, participation in surveys, or active involvement in community discussions. Utilize governance tokens to involve users in decision-making processes, enhancing their sense of ownership and commitment. Offer tokens for beta testing new features, rewarding those who contribute to product improvement. Establish token-gated access to exclusive content or forums, incentivizing token holding and active engagement.

When launching a new product, a well-promoted and rewarding feedback system can enable you to fast-track your user testing needs. Incorporate your feedback system into as many areas as sensibly possible of course without sacrificing UI. For instance, when we launched our Scopechat AI-powered crypto trading assistant, we've made it a point to allow users to give feedback to every single answer or feature, whether through a simple thumbs up/down, or through a comprehensive feedback form for the more detailed issues. We also launched Scopepoints as a reward system for these early reviewers of our product, to encourage the community to deliver feedback when we need it the most.

In my experience, conducting user research and testing in the realm of Web3 involves a systematic approach to glean valuable insights from users and customers. Initiating the process with a well-defined research plan is crucial, encompassing targeted surveys, interviews, and usability testing. This multifaceted approach enables a comprehensive understanding of user behaviors, preferences, and pain points within the Web3 environment. Leveraging analytics tools and user feedback mechanisms further refines this process, allowing for continuous iteration based on real-time insights. A user-centric methodology not only enhances product development but also fosters a deeper connection with the evolving needs of the Web3 user base.

Conducting user research and testing is vital in the Web3 space. Employ surveys, interviews, focus groups, and usability tests to gather both qualitative and quantitative insights. Tools like Typeform, SurveyMonkey, UserTesting, or Ethnio are useful for material distribution and feedback collection. This approach helps pinpoint user pain points, preferences, and expectations, allowing for data-driven decision-making. It validates your assumptions and guides your app's evolution, ensuring it aligns with user needs and stands out in the competitive Web3 ecosystem.

Easy. Be persistent in trying to keep them happy. The only constant is change - the more you try to keep them happy, the more they require -> the more you learn.

Para entender el comportamiento de los usuarios y sus reacciones ante los movimientos del mercado en tiempo real, puedes integrar análisis de datos on-chain y herramientas de seguimiento de mercado como CoinGecko o CoinMarketCap. Al correlacionar la actividad de la wallet de tus usuarios con las fluctuaciones del mercado, identificas patrones en sus decisiones de compra, venta o intercambio. Esto, combinado con análisis de sentimiento y tendencias en redes sociales, te permite anticipar sus necesidades y ajustar tu estrategia. Así, ofreces soluciones más personalizadas y oportunas, mejorando la experiencia de usuario en un entorno de mercado dinámico.

Monitoring app performance in the dynamic Web3 landscape involves leveraging tools like Etherscan and Dune Analytics for on-chain insights, and The Graph for decentralized data queries. Off-chain analytics tools like Google Optimize, Mixpanel, or Amplitude assess key performance indicators (KPIs) such as conversion rates & retention. This holistic approach allows for continuous refinement, anticipating user needs and staying ahead of Web3 trends. Regular evaluation of strengths, weaknesses, and opportunities ensures adaptability and user-centricity. In the rapidly evolving Web3 space, monitoring performance goes beyond identifying current issues—it's about proactively enhancing user experience and aligning with the ever-changing ecosystem.

Monitoring app performance and metrics is critical in Web3. Utilize tools like Etherscan, The Graph, Dune Analytics, or Blocknative to analyze transactions, events, contracts, gas fees, and user interactions. Additionally, employ Google Optimize, Mixpanel, or Amplitude for in-depth analysis of KPIs like conversion, retention, churn rates, or revenue. This not only highlights your app's strengths and weaknesses but also guides enhancements in functionality, usability, and user experience. Continuously evaluating and optimizing based on concrete metrics ensures your app delivers maximum value, staying relevant and user-centric in the dynamic Web3 landscape.

In my experience, monitoring app performance and metrics is crucial for optimizing user experience in the Web3 space. To learn from Web3 users and customers, I prioritize tracking key performance indicators (KPIs) such as transaction speed, latency, and user engagement. Implementing robust analytics tools allows me to gain insights into user behavior, identify pain points, and make informed decisions to enhance overall app performance. Regularly analyzing these metrics enables me to stay responsive to user needs and proactively address any issues, ensuring a seamless and satisfactory experience for our Web3 community.

Monitoring app performance and metrics in Web3 is paramount and this is best done basis user segments as these are early days. Early adopters' interactions provide valuable data on feature usage, engagement, and platform stability, offering insights into areas for improvement and futher optimization. Similarly, tracking the behavior of the web3 curious segment helps identify friction points in the user journey, onboarding and can help with enhancements to lower adoption barriers. A combination of qualitative and quantitative tools will enhahnce over all assessment of the solution.

Learning from other Web3 apps and projects is crucial for staying ahead in the fast-evolving blockchain ecosystem. Analyze successful projects to understand their strategies in community building, tokenomics, and user engagement. Pay attention to how they incorporate feedback, manage governance, and innovate with smart contracts. Also, examine projects that faced challenges or failed, as these provide valuable lessons on what to avoid.

In my experience, monitoring app performance and metrics in the Web3 environment is pivotal for enhancing user experience and addressing potential issues promptly. To gain insights from Web3 users and customers, I employ a comprehensive approach. Firstly, I leverage analytics tools to track key performance indicators, identifying patterns and areas for improvement. Additionally, I actively engage with user feedback through forums and social media channels, fostering a direct communication channel. Conducting user surveys and analyzing usage data further aids in understanding user behavior and preferences.

Gaining insights from other Web3 apps and projects is invaluable. Platforms like Product Hunt, DappRadar, DeFi Pulse, or State of the DApps offer a window into trending apps, spotlighting their functionalities and user feedback. Engage with Web3 communities on Medium, Substack, YouTube, or Podcasts to absorb wisdom from experts and influencers. This not only benchmarks your app against industry best practices but also uncovers potential gaps, niches, and emerging trends. Embracing community learning and competitive analysis positions your app to innovate, meet user expectations, and excel in the dynamic Web3 landscape.

Observing and learning from successful Web3 apps and projects provide invaluable insights into user expectations and market trends. Engaging with platforms like DappRadar and DeFi Pulse, as well as following thought leaders, can highlight what resonates with users, helping to refine your offerings. Benchmarking against industry best practices not only improves your project's competitive edge but also fosters innovation.

Learning from other Web3 projects is crucial, but it’s also essential to learn from traditional businesses. The ethos of Web3 differs from that of traditional businesses. However, this doesn’t imply a complete overhaul. Traditional businesses have gone through numerous cycles and have accumulated extensive experience. Web3 projects should leverage various sources for learning, including insights from traditional businesses.

As I like to say "leverage your tokenomics". Users respond to incentives and when you have a good enough token economy design, you de-facto have a large budget to engage and incentivize users. You can get feedback and analytics you would not normally be able to obtain via regular means. Don't underestimate that!

Even if you do it all right, you might still get it wrong. I think in general people need to have a bit of skin in the game to be able to drive growth for your project. Test things out with them (buying power and willingness). This will give you lots of insights about where you stand and if you are on the right track with your product and business model.

Your users and customers are crucial in shaping your product. Listening to them is essential, whether through focus groups or analyzing user behaviors. They provide an invaluable amount of data that can drive success for your project. One of the biggest mistakes I witnessed in my previous role was that Discord needed to be more utilized in capturing data, and it provided significant data on why user spending was decreased. Sometimes, the signals are present in your backyard. Please don't ignore them! ??

Web3 is a circular economy and therefore you need to learn and earn together. While key metrics like click through rate or finality of transactions are self evident, the churn too tells what the customer wants?? This however is a passive approach as one tends to either lose or is at the risk of losing your customer base when these metrics become pronounced. It is therefore important to engage in frequent product roadmap workshops and other roadshows which give feedback in real time and therefore are faster to turn around while communicating the same through your newsletters and other channels with the customer. Being decentralised this becomes easy to implement as one can use tokenomics to set the agenda and include key stakeholder

Utilize effective communication and tracking tools such as Discord to automatically gather insights on user behavior and feedback. Additionally, incorporate feedback/suggestion forms on your website or app. Collecting data and feedback is essential, but it's equally important to promptly implement user feedback into your application to maintain user engagement.