Web3 Marketing

6Know Your Product and Your Audience

There is much about Web3 and related marketing that is novel and revolutionary. “Know your product” and “know your audience” are not: these are practically the first two commandments of marketing. As with most other commandments, however, the hard part of a timeless rule is actually applying it in a particular context. This chapter examines what it means to know—which is to say, to learn about—your product and audience in the evolving context of Web3.

Know Your Product

Sometimes we as marketers have the luxury of choosing a product to market. The most correlated explanatory factor for our team's success bringing Ethereum to market is the genius of Ethereum. We simply couldn't have achieved comparable results if Ethereum were a less mind‐blowing technology. No marketing strategy can replace having an excellent product. However, even the best products can die in darkness if no one pays attention to marketing them. Especially early in a project's life cycle, someone needs to stimulate demand and connect it with supply, otherwise the flywheel of adoption never starts spinning.

If a product is excellent—defined as having a target audience that would use it if they knew about it—marketing hastens the process of creating demand and connecting it with supply. It gives the flywheel a good push or a series of them. But marketing in Web3 is far from a silver bullet. With a low‐quality product—one that users wouldn't want even if aware of it—there's ...