🤝Welcome to our latest community update!🤝
This is a weekly roundup of activity captured from across the web3 Sales, BD, & Partnerships community.
In this post, we're excited to share new introductions from members as well as recent #CommunityAsks. We've also included a summary of the results from our recent survey on the state of Web3 Sales and BD.
Get all caught up on the latest happenings in the community and stay tuned for more updates in the future.
📣 Quick Announcements
We're excited to announce the launch of our new Telegram Community! Join us in our Web3 Sales & BD Telegram Group to connect with other members of our community and participate in one of our BD Bounties!
Big news! We just paid out over $400 in BD Bounties to our community members. Thank you to everyone who participated and helped make this possible. If you want to participate in any of the BD Bounties, we post them regularly in our Twitter Community and new Telegram Group!
In this section, we're excited to introduce some members of the Web3 Sales, BD, and Partnerships Community!
These individuals come from a variety of backgrounds and industries and bring a wealth of knowledge and experience to the table. We welcome them with open arms and can't wait to see what they contribute to the community. Get to know them below.
In the #CommunityAsk section, we want to spotlight some of the questions and requests that have been recently posted by members of the 3RM community. We value the input and insights of our community members and want to make sure that their voices are heard. If you have an "ask" or request that you'd like to share with the community, be sure to use the hashtag #CommunityAsk on Twitter. Let's see what the community has been asking about lately.
🔬 State of Web3: Sales and BD Survey
In this section, we're excited to share the results of our recent survey on the state of Sales and BD in the Web3 space.
We asked respondents to share their insights and experiences on the main challenges, unique aspects, and key considerations of selling web3 products or services. We also asked for examples of successful strategies and their predictions on the future evolution of the web3 industry and its impact on sales and business development professionals.
We hope that the results of this survey will provide valuable insights for the community and help to guide our efforts as we work together to drive the growth and success of Sales and BD in Web3.
1. What are the main challenges you face in selling web3 products or services?
- There are several challenges in selling web3 products services, including a lack of personal information, negative sentiment in the media, a lack of defined path or established techniques, low awareness and understanding among potential customers, complex UX/UI, and regulatory uncertainty.
The main challenge in my opinion is a lack of personal information. In SaaS sales I can easily look up a company on LinkedIn, find out who works there, use Zoom info to get their contact details or figure out their email address by looking at other emails within the same company. Very little of that exists in Web3. It is also very hard to know who decision makers are within web3 organizations. DAOs are a disaster for that.
Education about what the underlying technology is - specifically for NFTs. The media has created a negative sentiment about it.
Providing enough of a reason why. We're in a holding pattern where there are not enough wallet-aware experiences that are enabled with tokens to create the interoperable web we pitch.
Right now, there's no defined path to sell in Web3.
It's all trial and error, hoping to strike gold, plus what works now is sure to be different from what will work in the very near future.
I've taken theoretical Web3 marketing classes that teach outdated marketing techniques, and I've had practical experience from working and selling in this space.
Trial and Iteration is the order of the day.
Low awareness and understanding as not many people are familiar with web3 and the benefits it can provide if someone is trying to sell their product or service.
Web3 tech is complex because of UX/UI making it challenging to sell such products or services to a wider audience.
Regulatory uncertainty has made it difficult for us to cater to a particular demographic of customers because we can't properly compensate them for their continuous contribution.
2. What do you think sets web3 sales apart from other industries?
- Web3 sales are perceived to be more complicated due to less sophisticated buyers and less organized companies, as well as the lack of established structured paths for selling in the web3 industry.
- The tech is new and adaptive, which can create opportunities for selling dynamic and evolving products.
- Increased competition in the web3 space can also create opportunities for specialized and targeted products.
I think that Web3 sales are more complicated because buyers are less sophisticated and company's are less organized.
Oh yes, it's beautifully chaotic here.
There are structured paths to selling in other industries, but those don't exist here for now - at least none that I know of.
That's why I'm committed to contributing to building them.
I came from the e-commerce marketing industry, and there were working selling structures in there.
Email marketing had its steps that worked and brought in maximum results, Facebook and other Socials had their marketing techniques that worked and brought in max results. These steps were just there.
The current chaos sets Web3 apart.
- The tech is new and adaptive which makes it easier to sell because the industry is dynamic & constantly evolving
- Increased & open competition makes it easier to create opportunities for any products you are trying to sell because most web3 services are specialized & targeted
3. What are the key considerations for someone looking to get into web3 sales?
- To succeed in web3 sales, it may be helpful to have a strong presence in discord communities and on Twitter, a deep understanding of the underlying technology and a belief in why it exists, and the ability to adapt from web2 to web3.
- It can also be helpful to focus on a specific area of passion, such as defi or NFTs, and to be willing to contribute to building a web3 sales blueprint that works.
- To tailor your sales pitch effectively, it is important to have a thorough understanding of the underlying technology and a deep knowledge of your target market.
I'm trying to figure that out myself. I think that someone looking to get into Web3 sales needs to be active in discord communities and needs to have a large network. Also, having a large following on Twitter is helpful.
Understanding the underlying technology and believing in why they exist
Being able to ideologically adapt from web2 to web3
Pick an area of passion. Whether it be defi or NFTs, there are so many projects to choose from!
For someone looking to get into Web3 sales - a key consideration is your willingness to contribute to building a Web3 sales blueprint that works.
There's no cut and paste technique that works across all Web3 verticals, and current Web3 marketers are in testing cycles - looking for what works and what works best.
You should be willing to test, contribute and build with other Web3 sales people.
Understand the underlying tech to its core and know your target market like they are your cousins. This will help you tailor your sales pitch and marketing strategies.
4. Can you share some examples of successful web3 sales strategies you have used or seen in action?
- To sell web3 products or services, it may be helpful to have a strong community around a useful product (for B2C sales) or to demonstrate dollar value savings and provide visual aids to help potential customers understand the benefits of implementing blockchain technology (for B2B sales).
- Other effective strategies may include leveraging social proof through techniques such as rewarding customers for sharing proof on social media, conducting Q&A sessions to reach a wider audience, and writing detailed blog posts that explain the roadmap and connect with the target market.
I guess it depends if you're talking b2b or b2c. B2C it is definitely have a useful product and building a strong community around it that can be monetized eventually. I still haven't figured out what it is in B2B.
- Dollar value savings by implementing Blockchain
- Visual aids while helping potential customers understand benefits
Inspiration is our gimmick. We recently launched an Advent Calendar to demonstrate the episodic delivery of tokens (90K claimed in 15 days!).
Yes, since I'm actively involved in the NFT side of things, I'll talk about some examples of what worked there.
Projects have been using the marketing principle of social proof beautifully and it has been working well till now.
It involved signing up on their website and getting rewarded for retweeting proof on your social media pages (Twitter) which in turn brings back more visitors for them.
Blur uses this technique beautifully.
Conducting monthly Q&A sessions to reach a wider audience where I've leveraged my network to swoop in and explain the benefits of our platform. And continuously writing on my blog that explains in detail the roadmap that we take time and again. It's all about connecting with the target market.
5. How do you think the web3 industry will evolve in the coming years, and how will that impact sales and BD professionals?
- Web3 is expected to mature and become more organized, with strategies from web2 being implemented and top names from web2 companies transitioning to web3.
- As the market expands, it is expected that traditional practices will be adapted for the crypto industry to cater to a wider audience, and that web2 apps will integrate web3 processes.
- To succeed in the competitive web3 market, it will be important to stand out and have a deep understanding of the technology, stay current on what is hot in the web3 space, and find a connection between your product and the market.
I think that Web3 will become more organized and will grow up. I can see a lot of the same strategies that were used in Web2 being implemented. We are already seeing a lot of top names from Web2 companies moving over to Web3. I'm not sure it will be too different to be honest.
As bigger media / sales companies enter the market, traditional practices will be implemented in crypto to cater to a wider audience
We will learn to work better together. The composability of web3 is its superpower. We've yet to unleash what's possible.
The future of Web is bright, it is the future.
I see all growth-minded web2 apps integrating some sort of Web3 process into their workings in the nearest future.
This will open up a plethora of opportunities for sales and BD professionals as web2 brands will be on the search for people that can effectively market their services well to the Web3 native audience.
The ecosystem will definitely expand in the coming years so there will be a ever increasing market share to conquer. The competition will be more so its important to stand out and know your tech better than anyone else to sell strategically. Also, staying in touch with what's hot in the web3 space and finding some connection to your product will make it easier to penetrate any market.