How to Effectively Leverage Influencers in the Web3 Space

The dawn of the Web3 space brings an exciting era of innovation, but it also unveils fresh challenges, especially when it comes to marketing. The use of influencers is becoming increasingly popular, yet a significant issue remains the prevalence of inauthentic engagement. But fear not, in this blog post, we will explore this problem and discuss practical solutions for effective influencer collaborations.

The Mirage of Digital Influence

For any Web3 startup aiming to gain traction, influencers might appear as a beacon of hope. Their large follower base can tempt founders into collaboration. However, don't be too quick to fall for the numbers. Just like a mirage in the desert, the appealing image of digital influence can often be deceptive. Even at a quick glance, a profile with 200k plus followers but with only 1 or 2 engagements per post is a massive red flag.

Take a closer look at some influencer profiles. Followers are great but engagement is the name of the game. Adobe (see the image above) thinks 1% is good I think 1% is fantastic - especially now in the bear market. Take the time go back through the influencers profiles. Spending 10 minutes of time here can save you a lot of money later.

Decoding the Digital Deception

Analysing an influencer’s follower growth graph can also reveal insights. For instance, a sudden, unexplained spike in followers is a telltale sign of an influencer purchasing followers en masse. Social Blade is a great resource that can give you fantastic insight. Use it !

Take the below example. 10k followers on the Sunday plus 5k on the Monday and 5k on the Tuesday - generally that isn't what growth looks like unless you are running some massive airdrop campaign or something like that.

Another clue is the massive drop off you can see 1800 unfollowed then 5700 unfollowed or perhaps they cleared out by the Twitter algorithm for being bots or fake accounts.

Discerning Authentic Engagement

So how do we resolve this issue? The answer lies in careful scrutiny, placing a greater emphasis on quality rather than quantity.

Begin by examining the comments on an influencer’s posts. Are they vague or do they indicate that the commenter has engaged with the content? For instance, if a post discusses Ethereum's latest developments and the comments are along the lines of "great post," it could indicate a bot rather than a genuinely interested follower.

Next, ask influencers to provide examples of their sponsored content and its performance, rather than their top-performing organic content. This will provide a more accurate gauge of the potential reach and engagement of your promotional content.

Finally, use analytical tools to look for inconsistencies in the influencer's data - like the aforementioned Social Blade. Ensure that their follower growth and engagement are consistent over time and reflect genuine user interaction. As in any field, data-driven decisions will always give you an edge over assumptions.

In conclusion, while the Web3 space presents its unique challenges, with careful evaluation and a focus on authentic engagement, influencers can indeed be a valuable marketing tool. Just remember, the real power lies not in the size of an influencer’s following, but the quality of their engagement.

Experience is key in web3 and we have quite a bit of it. So if you've any questions or ideas book and meeting and get in touch.

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