5 Ways Community Drives Web3 Business
What happened to the "social" part of social media? In the early beginnings of Facebook, we posted about our lives, from our weekend adventures to what we had for dinner.
The other day, social media giant brought up a post I made over 12 years ago, "No snow blower! Lawnmower!" A bold statement to encourage community banter around our frustrations with the endless cold weather in March. A rare type of post seen these days on Facebook.
Instead, ads, political rants, and obnoxious videos vie for our attention. Even if you did post something about Taco Tuesday, it would be hidden by the algorithm only to be seen by a limited few.
As business owners, we become obsessed with data. We fill social media with posts that attempt to grab attention rather than conversation.
We are motivated by likes, follows, and views. These transactional relationships are one-sided and centralized. Does that really bring in more business?
Something is missing.
Web3 Community
In Web3, conversations, engagement, and incentives build communities.
Web3 communities are the foundation of success when it comes to starting meaningful conversations and building business.
Why is it essential to start a community in Web3 for your business?
Members become invested in an organization's success and mission.
Discussions and invaluable feedback help shape and improve products and services.
Members engage in word-of-mouth marketing, helping to spread the message about an organization.
Form lasting relationships and loyalty with an organization. Bring value and meaning behind your goods and services.
Encourage discovering and developing new ideas and opportunities. Collaborations and projects between members may spin off new projects that build your brand.
Community is a place to discuss, build our business, and encourage others to participate in something great. But, with the masses still on these enormous Web2 socials, it will be a challenge to entice our communities to gather elsewhere.
Token Gating
You can control your membership by creating a requirement to have an NFT to gain entry - token gate.
Incorporating digital assets within a community is a tool for proving ownership, transparency of transactions, establishing value, and communicating with those who hold the tokens.
Web3 models encourage community members to drive the decisions and create value for those holding tokens.
Tokens can be used like a membership pass. By attaching a reoccurring subscription, you can monetize your community easily.
Because Web3 communities are decentralized, you can move your members from one platform to another. Try moving your Facebook followers to Twitter. Yikes.
Summary
In a decentralized community, we work and build together. The better the work, the better the rewards.
If you run a business, what would it look like if you brought all your customers or clients together in one room? What conversations would you spur? What relationships would you build? How would you incentivize them to spread the word and bring more business to you?
As my friend Sarah Monson of Gen-X NFT said eloquently, "Community is the backbone of Web3". Build relationships that build your business.
Tokens Square is building a community of artists and business owners that want to collaborate on projects that benefit each other. Interested? Reach out to learn more!
