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- Exploring Crypto Marketing with Katie Butler: Moonbeam’s Success, Influencer Utilization and the Decentralization Journey | Distractive Co-founder Perspectives
Exploring Crypto Marketing with Katie Butler: Moonbeam’s Success, Influencer Utilization and the Decentralization Journey | Distractive Co-founder Perspectives
From the hallowed halls of the tech world emerges our special guest, Katie Butler, co-founder of Distractive and marketing contributor to Moonbeam, a name that's been resonating in the crypto space with its innovative approach.
Katie, a marketing chameleon, has been navigating the tech marketing terrain for over a decade. She shares her insights on the unique challenges posed by the crypto space, the role of data, and the complexity of catering to multiple audiences. Undoubtedly, her journey in crypto marketing promises to intrigue any tech-enthusiast.Imagine a platform that aggressively pursues the best developer tools and resources to facilitate top-notch application development - that's Moonbeam. We talk about the strategies that have attracted developers to this platform and how it is leveraging hype marketing to its advantage. Katie also explains how Moonbeam took some cues from Ethereum and transformed it into a far more modern and appealing platform, resulting in a tremendous growth spurt.Now, let's talk about influencers. Are they necessary in the world of Web3? Katie believes so, and she shares her thoughts on how to effectively utilize them. We also touch on the origins of Distractive, the challenges of working with influencers, and the decentralization of Moonbeam. Looking ahead, Katie teases some exciting projects and campaigns that are on the horizon. If you're an entrepreneur, a marketer, or a developer, you'll definitely want to hear her insights on Moonbeam's benefits. So tune in, because this is one conversation you won't want to miss!
Web3 Marketing: A New Frontier
Ever wondered how marketing strategies evolve in the rapidly changing world of technology? This article provides an insightful journey into Web3 marketing, drawing from experiences in the crypto space and beyond.
We delve into the unique challenges and opportunities that come with marketing for Web3 companies. From dealing with data availability issues due to privacy concerns, to catering to multiple audiences simultaneously - it's a whole new ball game. We also explore how Moonbeam, a project by PureStake, has successfully navigated these waters and used innovative strategies to attract developers and build its platform.
The impact of such effective marketing is immense as it not only drives growth but also fosters trust among users. It plays a crucial role in building communities around platforms like Moonbeam which ultimately contributes towards their success.
This article will answer all your questions about what makes Web3 marketing different from traditional methods, why it matters, and how you can adapt your own strategies for this new era. So buckle up for an enlightening ride!
The Journey to Web3 Marketing
In the past decade, Katie Butler has been deeply involved in tech marketing, primarily for early-stage startups. Throughout my career, Katie had had the opportunity to work in various industries and disciplines, constantly adapting and learning new skills. This has earned her the nickname "marketing chameleon." While it may seem daunting to constantly switch industries and relearn skills, she believes it has been an advantage her me. It has allowed her to draw from her past experiences and dive into new territories, even when faced with uncertainty.
Four years ago, Katie found herself entering the crypto space when she joined a small company called PureStake as an early marketing hire. PureStake was focused on developer infrastructure for the Web3 space. This opportunity appealed to her because she had previous experience in marketing to software engineers. Despite the unknowns of the crypto space, her willingness to embrace the unfamiliar proved to be a valuable skill. Since then, she has been working on Moonbeam, a project created by PureStake, for almost four years. Recently, she also founded Distractive, a marketing agency that specializes in emerging Web3 startups.
The Challenges and Opportunities in Web3 Marketing
Web3 marketing presents unique challenges and opportunities compared to traditional marketing in Web2. Two of the most significant challenges Katie has encountered in her experience are the availability of data and the complexity of dealing with multiple audiences.
Data Availability and Privacy
In Web2 marketing, marketers are accustomed to having access to a wealth of data from various sources. This data allows them to track customer behavior, understand user preferences, and make informed marketing decisions. However, in Web Three, the landscape is different. The decentralized nature of blockchain technology and the emphasis on privacy pose challenges in obtaining comprehensive data.
For example, in Web Three, it is difficult to establish a clear connection between a Twitter user and an on-chain user. This lack of visibility makes it challenging to understand user behavior and satisfaction. Striking the right balance between respecting privacy and gathering enough data to create useful products and services becomes crucial.
Despite these challenges, there are opportunities for marketers in Web Three. By leveraging innovative technologies such as zero-knowledge proofs or decentralized identity solutions, marketers can find ways to gather valuable insights while respecting user privacy. These technologies allow for anonymous yet verifiable data collection, enabling marketers to understand their audience without compromising privacy.
Dealing with Multiple Audiences
In Web3 marketing, there is a need to cater to multiple audiences simultaneously. Unlike traditional B2B companies where the focus is primarily on the buying audience, Web3 companies have to consider builders, users of applications built on their platform, and retail investors.
Each audience has different needs and expectations, requiring marketers to create messaging that resonates with all of them. For example, builders may be interested in technical documentation and developer resources, while retail investors may be more interested in tokenomics and potential returns on investment. Balancing the needs of these diverse audiences can be challenging but essential for the success of a Web3 project.
One way to address this challenge is by segmenting marketing efforts and tailoring messaging to each audience. By understanding the unique motivations and pain points of builders, users, and retail investors, marketers can create targeted campaigns that speak directly to their needs. Additionally, fostering a sense of community among these different groups can help build trust and loyalty.
The Role of Marketing in Moonbeam's Success
Marketing has played a crucial role in the success of Moonbeam, particularly in attracting developers to build on its platform. The team at Moonbeam has implemented several strategies to achieve this, including focusing on providing a great developer experience, building visibility and excitement for the platform, and adopting a strategic approach to building hype.
Providing a Great Developer Experience
One of the key factors that have contributed to Moonbeam's success is its commitment to providing a great developer experience. This involves creating resources and tools that developers need to build applications on the platform. The team has worked closely with their developer relations lead to develop comprehensive documentation, tutorials, and videos that make it easy for developers to understand and utilize Moonbeam's capabilities.
By investing in the developer experience, Moonbeam has been able to attract a significant number of projects even before its official launch. This early engagement with developers has helped create a positive word-of-mouth effect, as developers share their positive experiences with others in the community.
Building Visibility and Excitement
In addition to providing a great developer experience, Moonbeam has focused on building visibility and excitement for the platform. This has been particularly important leading up to the launch of Moonbeam.
The team has leveraged various marketing activities to generate momentum and interest in the project. By strategically positioning themselves as a leading smart contract platform on top of Polkadot, Moonbeam has been able to capture the attention of developers and investors in the Web3 space.
Through targeted marketing campaigns, social media engagement, and partnerships with other industry players, Moonbeam has successfully built anticipation for its launch. This has resulted in a strong community following and increased interest from potential users and investors.
Strategic Approach to Hype Building
While building hype can be beneficial for a Web3 project, it is important to approach it strategically. Moonbeam has taken a principled approach to hype building, focusing on substantive growth rather than hype for the sake of hype.
The team has prioritized delivering on their promises and maintaining transparency with their community. By staying true to their principles and consistently delivering on their roadmap, Moonbeam has been able to build trust and credibility among developers and investors.
Instead of relying on gimmicks or short-term tactics, Moonbeam has focused on creating long-term value for its users. This approach ensures that the excitement generated around the project is sustainable and leads to meaningful growth over time.
Community Management and Success
Community management has played a significant role in Moonbeam's success. The team has cultivated an engaged and active community from the early stages of the project.
By providing channels for communication and fostering a sense of belonging, Moonbeam has created a community that is passionate about the platform. This community engagement has not only helped in spreading awareness about Moonbeam but also in attracting new developers and users to the platform.
Moonbeam's approach to community management goes beyond traditional retail marketing. They define their community as users who have actively staked tokens or used applications on the platform. This distinction allows them to focus their efforts on nurturing relationships with users who have made a tangible commitment to the platform.
Through targeted engagement strategies, such as hosting events, providing educational resources, and facilitating discussions, Moonbeam continues to strengthen its community. This strong community support has been instrumental in driving adoption and growth for the platform.
The Evolution of Community Engagement and Marketing Strategies
Moonbeam has recognized the importance of community engagement in driving the success of their platform. As part of their evolution, they have made efforts to refine and enhance their community engagement and marketing strategies. This has involved creating more defined and separate teams to focus on specific aspects of community engagement, as well as adopting various platforms for communication with the community.
Refining Community Engagement
Moonbeam has recognized the need to have more defined and separate teams to effectively engage with their community. By doing so, they can allocate resources and attention to specific groups of community members who are active and engaged. This allows them to provide targeted support, address specific needs, and foster deeper connections with these individuals.
For example, Moonbeam has established subcommunities for different types of community members. They have ambassadors who actively promote the platform and help educate others about its benefits. They also have collaters, who serve a similar purpose to validators in the Polkadot ecosystem, and delegators, who allow users to delegate their voting power to others for on-chain governance.
By creating these subcommunities, Moonbeam is able to cater to the diverse needs and interests of their community members. This approach not only strengthens the overall community but also allows for more targeted communication and engagement strategies.
Converting People to Active Community Members
While community engagement is important, Moonbeam also recognizes the role of marketing in converting people into active community members. Their marketing efforts are focused on attracting new users to try their applications, stake tokens, and participate in on-chain governance.
To achieve this, Moonbeam is working on developing a strong communication channel specifically for their community. They are considering launching a Twitter handle dedicated to providing day-to-day updates and information for their community members. This will allow them to effectively communicate important information, such as governance motions, in a more accessible and digestible format.
By converting more people into active community members, Moonbeam can create a stronger and more engaged user base. This not only benefits the platform itself but also contributes to the overall growth and success of the Web3 ecosystem.
Utilizing Different Communication Platforms
Moonbeam understands the importance of utilizing different communication platforms to reach and engage with their community. Currently, they have community members on platforms like Telegram and Discord. However, they are also exploring the use of Twitter as a dedicated communication channel for their community.
By leveraging Twitter, Moonbeam aims to provide more specific and timely updates to their community members. This platform allows for easier dissemination of information and facilitates real-time engagement with the community. It also provides an opportunity for community members to interact with each other and share their experiences with Moonbeam.
Developing Sub-communities
In addition to having a main communication channel, Moonbeam is also focused on developing sub-communities within their larger community. These sub-communities cater to different types of community members, such as ambassadors, collaters, and delegators.
By creating these sub-communities, Moonbeam can foster deeper connections and provide specialized support for each group. For example, ambassadors can focus on promoting the platform and educating others about its benefits, while collaters and delegators can contribute to the governance process in different ways.
This approach allows Moonbeam to cater to the diverse needs and interests of their community members. It also encourages collaboration and participation within these sub-communities, further strengthening the overall community engagement.
The Influence of Influencers in the Web3 World
Moonbeam has taken a relatively light approach to working with influencers in the Web3 world. While they recognize the potential value that influencers can bring, they also acknowledge the need for improvement in this area. They are actively working on identifying influencers who have a genuine impact and can drive interest and user conversion for Moonbeam.
Identifying Influencers Who Drive Interest and User Conversion
Moonbeam's focus is not solely on retail token purchases but rather on converting individuals into active users of their platform. With this in mind, they are looking for influencers who can effectively communicate messages that resonate with their target audience and inspire them to use Moonbeam and its applications.
By identifying influencers who have a genuine influence on their audience, Moonbeam aims to leverage their reach and credibility to drive interest and user conversion. These influencers can help spread the word about Moonbeam's unique offerings and generate excitement among potential users.
Challenges of Working with Influencers
Working with influencers comes with its own set of challenges. One of the main challenges is managing expectations, as many influencers have high expectations for what they will receive in return for collaborating with a brand. Moonbeam faces the challenge of finding a balance between what they can afford from a budget perspective and what they expect the impact of the collaboration to be.
Another challenge is aligning the content and storylines created by influencers with Moonbeam's messaging and goals. Moonbeam wants to ensure that the content produced by influencers aligns with their brand and effectively communicates the value proposition of their platform. However, they often do not have control over the content created by influencers, which can make it challenging to achieve this alignment.
Rolling Out More Influencer Programs
Despite the challenges, Moonbeam is optimistic about rolling out more influencer programs in the future. They see the potential value that influencers can bring in driving interest and user conversion for their platform. By carefully selecting influencers who align with their brand and messaging, Moonbeam aims to leverage their reach and credibility to spread the word about their platform and generate excitement among potential users.
These influencer programs will be an integral part of Moonbeam's marketing strategy, helping them reach a wider audience and establish themselves as a leading platform in the Web3 world.
The Future of Moonbeam and Distractive
Moonbeam has exciting plans for the future, with a focus on rethinking their branding, messaging, and marketing approach. They recognize the importance of presenting themselves in the best possible light and creating a strong brand identity that resonates with their target audience. By taking the time to do things the right way, Moonbeam aims to create a cohesive and compelling marketing strategy that will drive interest and user conversion.
Rethinking Branding, Messaging, and Marketing Approach
Moonbeam understands the significance of a well-defined brand and messaging strategy. They are actively working on revamping their branding to ensure it accurately represents their platform and its unique offerings. This includes refining their messaging to clearly communicate the value proposition of Moonbeam and its applications.
Additionally, Moonbeam is redesigning their website to serve as a digital storefront that effectively showcases their platform and attracts potential users. The website will play a crucial role in their fall campaign, which aims to generate excitement and encourage users to explore Moonbeam and its applications.
The Decentralization of Moonbeam
Moonbeam is also undergoing a significant transformation in terms of decentralization. They have formed independent entities within the Moonbeam ecosystem, each focusing on different aspects of the project. These entities include Moonsong Labs for engineering, Ops Layer for operations, and Paper Moon for developer relations.
This decentralization effort aims to distribute responsibilities and decision-making power among various teams, ensuring a diverse range of perspectives and expertise. By decentralizing, Moonbeam can tap into the collective intelligence of these independent entities and foster innovation within the ecosystem.
The Importance of Continued Decentralization
Moonbeam strongly believes in the importance of continued decentralization. They view it as a key principle that aligns with the values of the Web3 space. By further decentralizing through governance and other initiatives, Moonbeam aims to create a more inclusive and resilient platform.
Continued decentralization allows for a wider range of opinions and ideas to be considered, leading to better decision-making and a more robust ecosystem. While navigating the challenges that come with decentralization, Moonbeam remains committed to staying true to their principles and ensuring the long-term success of their platform.
Advice for Making a Mark in the Web3 Space
For individuals looking to make their mark in the Web3 space, Katie offers valuable advice. She encourages people to stop waiting for permission and dive in headfirst. The beauty of the Web3 space is that it offers numerous opportunities for individuals to contribute and make a difference.
Katie suggests joining ambassador programs or becoming part of decentralized autonomous organizations (DAOs) to gain exposure and experience in the Web3 space. These avenues allow individuals to contribute their skills and expertise, whether it be in marketing, development, or other areas.
She also emphasizes that one should not feel pressured to master every aspect of crypto. Instead, individuals should focus on what they enjoy and excel at. By finding their niche within the Web3 space, they can make meaningful contributions and have a positive impact.
Katie believes that there is a need for talented marketers and individuals with non-technical backgrounds in the Web3 space. Their ability to articulate goals and value propositions can greatly benefit projects and help drive adoption.
In conclusion, Katie encourages aspiring Web3 enthusiasts to take the leap, explore opportunities, and contribute their unique skills and perspectives to this exciting and rapidly evolving industry.
Wrapping Up
As we conclude, let's revisit the key insights from this article.
The Web3 marketing landscape presents unique challenges and opportunities. It requires a balance between data privacy and gathering enough information to create useful products while catering to multiple audiences with different needs.
Moonbeam's success can be attributed to its focus on providing an excellent developer experience, building visibility for the platform, strategic hype building, and effective community management.
Influencers play a significant role in driving interest and user conversion in the Web3 world. Despite some challenges associated with working with influencers, Moonbeam is optimistic about rolling out more influencer programs in the future.
Will Moonbeam continue to leverage these strategies effectively as it navigates through its decentralization process? Stay tuned until our next discussion!
PS: This long form blog article was written with this AI tool.
Katie Butler on the Web3 CMO Stories podcast
KEY HIGHLIGHTS
[01:14] Could you tell us about your background and your current roles at Distractive and Moonbeam?
[03:15] Can you discuss the specific challenges and opportunities you've noticed in the current landscape?
[05:02] Could you provide more information about Moonbeam and the work you're involved in there?
[07:25] How does Moonbeam attract developers and promote its platform through marketing activities?
[09:45] In the current landscape, do you believe that hype marketing is still a viable strategy for growing a Web3 business, or do you think it could be more detrimental than beneficial?
[12:52] Could you elaborate on your approach to community management and how it has contributed to your success with Moonbeam?
[16:51] Where have you primarily built your community? Are you active on platforms like Telegram, Discord, or others, and how do you measure and engage with your community members?
[18:44] What is your perspective on the role of influencers in the Web3 space, and do you utilize influencers as part of your strategy for Moonbeam?
[20:37] Katie, you represent both Moonbeam and Destractive. Can you explain the origin and meaning behind the name "Destractive"?
[25:40] What advice would you offer to individuals who are considering getting involved in the Web3 space and want to make an impact?
NOTABLE QUOTES
"The biggest thing from my perspective is stop waiting for permission and just dive in."
"The smartest minds from every conceivable discipline are already in this space."
"But when I was, you know, starting in the web three space, I joined a discord."
"By doing my podcast, I meet people like you."
"So, guys, again an amazing podcast episode."
MENTIONED RESOURCES
https://distractive.xyz/
https://moonbeam.network/