Think Differ3nt: Who does your Web3 company serve?

‘But who does your solution and company actually serve?’ - A question that's become my trusty companion in the world of web3 and #emergingtech, especially when diving into a startup’s marketing and #branding strategies. Usually, the response sounds a lot like, 'We believe there's a gap in xyz, and we've got the tools to shake things up and fill it.'

But here's the kicker: when I dig deeper and ask about the #research backing up these claims, there's usually no concrete data found.?After spending over 7 years with startups, here's my humble advice: Don't kick off with the fancy tech. Start with understanding the market needs and the persona of who you're building for. It's the bread and butter, often overlooked but oh-so-critical. Because let's face it, without solid research, you have no direction.?As someone knee-deep in #marketing and #branding, I'd much rather see startups take a step back if they haven't done their homework. It's about setting them up for success. So, what does this research entail? Let's break it down together.

Step 1: Market & Target Audience Analysis

Consider all the available information, including geographical data and demographic details. Pinpoint the typical behaviour of your target market and attempt to understand what their values are.

Always keep your finger on the pulse of what’s trending and analyse the cultural and societal pillars of the regions you aim to reach. Build buyer personas!

Step 2: Competitor Analysis

We all know the saying, “Keep your friends close, but keep your enemies closer.” Keeping a close watch on what your competitors are up to is essential for business success. It gives you a solid idea of what you’re up against, and what you need to do to rise above it.

Research what other similar companies in your niche are offering, how long they’ve been in the market, and any other key details. Look at their content marketing and keyword strategies. This information will help you determine your unique value proposition so you can carve out your own position in the market.

Step 3: SWOT Analysis

With the information about the scope of your market, competition, growth trends, and target customers in your back pocket, it’s time to focus on your SWOT analysis. This requires breaking down your company’s strengths, weaknesses, opportunities and threats.

Assess the results of this analysis to determine which areas of your solution are strong and which could use some love. Identify which features of your offering are of most interest to your ideal customers. And, finally, investigate any opportunities to further develop and improve your business.

About the Author

Yasmeen Dahbour, Head of Digital Marketing at Luna PR

Yasmeen is a seasoned marketing professional with a proven track record in overseeing dynamic marketing teams and driving the successful execution of company and client-related marketing content, campaigns, and strategies. With over six years of experience in the industry, she possesses a profound understanding of our ever-evolving business landscape, demonstrating her ability to analyze data, monitor performance metrics, and optimize marketing strategies for maximum impact.

Yasmeen's expertise extends to branding and developing comprehensive brand strategies from inception to implementation, and has successfully worked on various web3 projects. Additionally, Yasmeen actively engages with prominent crypto communities across platforms like X and Telegram, fostering valuable connections and staying abreast of industry trends.

Before joining Luna PR, Yasmeen played a pivotal role in advancing the technology sector in the UAE. Notably, she spearheaded initiatives, including her collaboration with Hub71, a Mubadala-backed project. Her work with Hub71 aimed to attract global talent and innovative technologies to Abu Dhabi, aligning with the initiative's goal of positioning the UAE as a hub for technological innovation and growth.