What Is a Web3 Marketing Funnel and How Does It Work?
A marketing funnel provides a step-by-step path that takes potential customers from being unaware of your Web3 brand to becoming paying users.
The goal is to maximize conversions at each stage of the funnel by guiding prospects closer to a transaction decision.
This strategy is essential if you’re a crypto project looking to generate awareness, drive conversions, and scale.
In this article, we'll break down:
- what Web3 marketing funnel is
- the key phases in a typical funnel
- tips for optimizing each phase of the funnel to get the most out of your marketing efforts
The Marketing Funnel Explained
A marketing funnel maps out the journey users take from discovering a dApp or crypto project to becoming active users.
It starts with raising awareness among crypto audiences. Then, it engages users to learn more, convinces them to sign up, enables conversion through transactions, and finally retains users within the ecosystem.
Funnels allow blockchain companies to guide users through each step, from understanding the solution to completing activation.
It takes users on a sequenced journey tailored to your crypto project.
What Are the Key Stages of a Funnel?
While funnels can have more or fewer steps, these four stages are crucial for crypto projects:
The awareness stage is all about getting on people's radar. They become aware of your crypto brand and offerings but aren't ready to buy just yet. You need to attract their attention and interest.
- Advertising - Run advertising campaigns optimized for impression-based goals to get your project in front of more people within your target audience.
- Content - Publish educational content around Web3, crypto, and your product category to attract and engage potential prospects.
- Conferences/AMAs - Participate in Web3 conferences, podcasts, Discord groups, and X spaces to raise awareness amongst crypto-savvy communities.
- KOLs and Influencers - Partner with influencers and key opinion leaders in the Web3 space to expand reach.
Further Reading: How to Target Real Crypto Users through Ads
After becoming aware of you, customers enter the consideration phase. Here they engage with your content, explore your website, and consider whether your product fits their needs.
Your main goal now is to launch a nurturing campaign to help make your connection stronger and keep you on top of their minds.
Help them learn and compare options by doing the following:
- Product information: Create comparison guides, demos, and FAQs so visitors can assess your product.
- Retargeting ads: Run retargeting ads to re-engage previous site visitors.
- Follow-up emails: Send tailored emails to provide more info based on topics visitors engaged with.
Once prospects have considered you, they reach the transaction stage. You’ve already won their hearts, and they’re ready to go the extra mile by trying out your dApp or investing in your IDO.
This stage is crucial, though, as any slight discomfort can make them turn away.
Make it easy for interested prospects to convert by doing the following:
- Lead generation tactics: Use calls-to-action, lead forms, and lead magnets to convert prospects into leads.
- Social proof and trust: Build trust with elements like testimonials so visitors convert.
- Seamless processes: Optimize your signup, checkout, and payment processes to be as seamless as possible.
- Retargeting for purchases: Retarget recent site visitors across channels to guide them to eventually make a transaction.
Further Reading: 7 Effective Web3 Gaming Marketing Tactics from Top Experts
The goal here is to turn your investors into repeat buyers through excellent product or service delivery. But not just that; you’d also want them to become strong community members who can help you onboard more investors or users.
- Roadmap and tokenomics: Deliver on your roadmap and tokenomics so users keep returning and inviting others.
- Email onboarding: Use emails to onboard customers to get the most value from your project.
- Web3 community: Create a community like Discord or Telegram for user engagement.
- Loyalty programs: Implement programs and incentives to encourage repeat purchases.
The Web3 marketing funnel provides a strategic framework to take crypto users from strangers to satisfied customers. But simply having a funnel is not enough—optimization and execution are key.
As a founder, view your funnel as a living, breathing process. Continuously test and tweak each phase based on data and customer feedback. Lean on tools like Blockchain-Ads to target and re-engage the right users amidst the noise. And craft tailored experiences, not one-size-fits-all campaigns, to guide distinct segments along their journeys.
With a disciplined, user-centric approach, your Web3 marketing funnel will become an unstoppable growth engine for your company.
User Acquisition Case Study: 4,600 New Traders at $5 CPA for Binance