Rethinking Traditional Marketing KPIs in the Web3 space

The integration of Tokenomics into our marketing strategies and product ecosystems is not just inevitable - it's already happening.

Fresh off the press from the latest Chief’s Clash episode on Web3 hosted by Shahar Attias , I have been invited together with Mark Grech and Richard Baker to discuss at large the intersection of tokenomics and marketing strategies. The buzz? The launch of Shuffle.com? – trying to challenge the titans like stake.com with a blend of innovation and classic casino elements.

??Check out the full scoop on LinkedIn: Shuffle Launch and Crypto Casino Insights.

One hot topic is Airdrops. Far from being just a buzzword, airdrops are a key marketing strategy in the crypto space, aimed at doling out free tokens or cryptocurrencies to boost adoption, stir buzz, and reel in investors. Shuffle.com’s strategy? Leveraging airdrops to draw in players and create a community buzz. Will it work? Time will tell.

Airdrops: Not Just Freebies, But Strategic Assets

The effectiveness of this strategy varies based on several factors, including the evolving tokenomics. Crypto casinos are making their mark by integrating features like the tokenization of in-game assets and decentralized autonomous casinos (DACs) powered by smart contracts. Shuffle.com is competing against stake.com, but with a few distinctive features: a native cryptocurrency, SHFL, an ERC-20 token that can be used as a wager asset and for accessing perks on the platform, with a buyback-and-burn mechanism in place.

But here’s where it gets spicy and I'm passionate to explore with you: With the evolution of tokenomics, traditional concepts like CPA (Cost per Acquisition) are morphing into something different. Perhaps KPIs like Cost per Token? I've challenged the traditional framework and tentatively laid out a few!

Shifting the Focus: New KPIs for a Web3 World

• EPT (Earned Per Token): In today's ecosystem, where utility reigns supreme, a token's value lies not just in its currency but in its integration within the product lifecycle. Think of it as the next evolution of loyalty programs—akin to credit card points or Starbucks rewards, but with the added benefit of liquidity. EPT measures the earning potential per token, which is especially vital for startups and companies looking to fund growth without depleting cash reserves. This metric underscores the shift from traditional signup bonuses to token giveaways, which represent not just immediate value but potential future revenue.
• JVC (Joined Value Creation): This KPI highlights the collaborative aspect of value creation in the Web3 ecosystem. It emphasizes the mutual benefits for both companies and their communities, fostering a stronger connection through shared success.
• Cost per Token: A reimagined take on Cost per Acquisition, this metric focuses on the efficiency and effectiveness of token distribution as a means of user engagement and growth.
• Community Engagement Metrics: Beyond numbers, the strength and interaction of a community around a project become pivotal. Airdrops, for instance, serve not just as a marketing strategy but as a tool for building brand loyalty and a robust, engaged community.

Actionable Insights:

• For Marketers: Evaluate your current KPIs in light of Web3 advancements. How can metrics like EPT and Cost per Token reshape your approach to engagement and growth? And if you're not ready to fully embrace the crypto space, no worries—I'm not an expert either! However, as a marketer, exploring new ways to achieve marketing goals is exciting.
• For Community Managers: Leverage airdrops not just as a promotional tool but as a means to cultivate a vibrant, engaged community. Tailor your strategy to the unique needs and interests of your audience.

Opinions, or food for thought? :) Thank you for reading through, guys!