As web3 martech continues to grow, buyers become overwhelmed with choices
Hello,
This week, I’d to discuss why web3 SaaS startups should specialize [and 4 approaches to do it]. The web3 martech space is heating up and competition is getting fierce, forcing founders to narrow their focus.
Hope you enjoy it!
(read time: 5 minutes)
the web3 martech space only keeps growing (the good and bad)
As web3 martech continues to grow, making it increasingly difficult for NFTs, DAOs, and dApps to choose a single solution.
It reminds me of 2011, when there were only a few participants in web2 martech, and picking a solution was easier.
Over time, this only got more complicated:
web3 is not far from it:
This is positive overall as it shows growth in the space.
However, this is bad as picking one solution will only get more difficult.
Learning to choose is hard. Learning to choose well is harder. And learning to choose well in a world of unlimited possibilities is harder still, perhaps too hard.
– Barry Schwartz in his book The Paradox of Choice
Right now, potential customers (NFTs, DAOs, dApps, and gaming) have a difficult time finding the right solution:
And web3 startups need to evolve.
The solution: niche down ??
?? Why web3 startups need to narrow their focus:
Customers will be happier and resonate with your product.
4 ways web3 startups can use to niche down
?? Focus on one market (or vertical)
"I sell to DAOs, NFTs, dApps, and gaming."
This is something I frequently hear from web3 startup founders.
Trying to please everyone will only dilute your brand.
And resources.
INSTEAD: Focus on one vertical — NFT, DAOs, dApp, etc. but not all
?? Choose one audience
These can range from:
领英推荐
You can serve many audiences with your solution, but the outcomes they look for vary.
Marketers want better retention
Business devs want more sales
Don’t try to please everyone at first.
?? Nail one channel first
It's tempting to build for all: Twitter, Telegram, Discord, and even Slack.
However, you will not get very far.
Attentive, Klaviyo, and other billion-dollar startups began by focusing on one.
Nail one channel.
Then expand.
?? Go all in on your value prop
When crafting your value proposition, it's easy to become lost in jargon and useless buzzwords.
Two things should be highly apparent in your value proposition:
If it's clear, use it!
Conclusion
“Choice overload describes how, when given more options to choose from, people tend to have a harder time deciding, are less satisfied with their choice, and are more likely to experience regret.”
So make it easier to potential customers to choose you!
Not your competition.
2/ animalz update
The more I work in the space, the less I understand it.
One of the areas I’ve gone down the rabbit hole is “memes”.
My reasoning: Memes are reproduced endlessly through culture.
It only takes one meme to go viral and get your brand out there. For the past two weeks, I’ve been publishing 5 new stickers and the results have been incredible.
Just in the past 7 days, with 12 Stickers and GIFs, we’ve had 1.2M views.
How will this translate to sales?
I am not 100% sure but I’m confident I’ll figure it out.
3/ TheMustach3 weekly picks:
Till next time!
TheMustach3
MENA's SaaS-iest Copywriter | Co-founder @ Kalimatic | Fintech-focused
1 年I agree with you completely! Especially the part about how it's important to compare to competitors – which also helps with using keywords that people are already looking up (for example, "ABC versus MailChimp").