Web3 caters to a diverse group of people. And that makes sense, because who wouldn't want a bit more say in their privacy, the future of the platforms they use, and how they control their assets?
But, in order to move effectively in the space and understand what draws people to — and keeps them invested in — your project, it is important to do a bit of grouping. So, to start at the very, very beginning, there are two extremely broad categories among Web3 communities.
🤑 Money Motivated — Many jump into crypto for the lucrative investments it can offer. While these communities can help inform new-comers about your project, and will often work in your project's best interest as they are investors, they can quickly dry up if the token price drops.
💫 Belief Motivated — This type of community tends to be very strong. They believe in your mission, vision, and goals, and will help drive all of it forward. This is also where the best contributors and collaborators can be found.
Each type of community has their own value in Web3. And, while some will clearly fall into one category or the other, more often than not, these two are not mutually exclusive. Rather, it's common to find a small, but committed belief motivated community encapsulated in a larger money motivated community.
And, of course, there are different ways to get more and more people to transition into one or the other, because, if there's one thing communities aren't, it's stagnant…unless they're dead.
But, it can be important to understand the overall value of a community, what they drive, and how they can contribute to align with your project's goals and timeline.
Strength in Numbers
People put a lot of weight in numbers. When people invest, whether that's buying a few tokens or putting in some big money, checking the community is fairly common practice. And, while quality counts, quantity is a much faster metric to read. This is where a lot of Narrative & Sentiment comes from, and a large part of why money-motivated communities should not be discounted.
Price & Investments
When someone pops into your community to see how strong it is, the number at the top matters. The bigger the community, the more likely someone is to throw a few coins your way. And, if you're fundraising, having a sizeable community can be a big sell.
Of course, for both of these, it's going to be even better if you can prop the numbers up with engagement and contributor metrics as well!
Adoption
Have you ever heard of network effect? Essentially, as your community grows, each person will have access and influence on a certain number of people…and this multiplies exponentially.
Because personal referrals and recommendations are some of the best ways to convert new members, the bigger your community is, the chances are, the faster it will grow.
So, what tools can you use to grow?
Well, there's always armies of bots. Can't say we really recommend that, but they are used. People are faster to get wise to spammy, bot filled communities, though, so if you go this route, proceed with caution.
Otherwise, airdrops and referral campaigns are good ways to quickly drive an influx of people to your community. These will generally be more money-motivated members. But, if you take the right approach, you might be able to convert them into true believers.
And, of course, solving real problems will always drive growth! All you have to do is figure out how to get people to hear about your solutions. But, if the solutions are needed, growth should eventually drive itself.
A big and committed community can be central to successful announcements and project milestones. They'll drive your token launches, amplify any news you have, and can help convert others. So, it's worth it to invest the time, energy, and, yes, even money, into making sure that you have a big community, but a big community who feels like they're included, listened to, and align with your goals
Contributions
Contributions run the gambit, from giving feedback, either formally, or just in whispers…or shouts… around the 'net, to voting, to actually getting in it to contribute labor. But, regardless of the level, all are extremely important, and mark a massive change between Web2 and Web3.
Innovation
In fact, a huge reason for why Web3 is so exciting and powerful is because we are open and collaborative. Everything is so new and exciting, often being stress-tested in real-time, and needing all sorts of new solutions.
And, trust me, an active user-base in Web3 knows that they can be heard…and will tell you what they need.
Direction
And then, with voting and labor contributions, you start dipping your toes into the types of communities that make DAOs (Decentralized Autonomous Organizations) tick. But, contributors can be an important part of any project, amplifying their reach, creating often much-needed supporting materials, and driving the direction that the project, and if we're honest, space as a whole take.
So, what tactics are there to increase engagement and contributions?
A lot….and I'm sure some savvy community managers will keep coming up with more! But, for the most part it's about finding out who's already putting time in and rewarding them for that!
And, it's important to note that some communities have formalized this through governance tokens. But, we're approaching this more from the standpoint of an already active CM.
First and foremost, find your rock stars. Who's already engaging, greeting, and guiding people in your community? Do they want to help you mod, stream, write, advocate for devs, or form a regional chapter?
Then, to make sure the already engaged people stay engaged, and encourage new people to jump in, use motivational tactics. These can be:
- Direct Incentives — figuring out how to reward community contributors can mean that people who are less belief-motivated will be interested, and might lower some quality of contributions. But, for sizeable commitments, it is important to reward that!
- Social Recognition — you can also elevate, shout-out, and uplift active members, both in your community and beyond. Reputation goes a long way in Web3, and if you can help someone build theirs, that's usually a win-win!
Make people feel like they belong! Reward them with badges, early-access, beta-testing, interviews, tickets, etc. The list goes on-and-on, but this is two-fold. First, community members are recognized, and understand that you see and value their contributions. And then, they might also be super hyped by whatever kick-back you can provide, or at least be happy to be part of the group receiving it!
The more you can get your community to engage with each other the more value and time they’re likely to get out of being there….and the more your community will take on a life of its own!
The Backbone of Web3
Let’s be clear. We’re building Web3 for people. And that’s why it’s important to retain the centrality of community.
As more and more people and companies jump on the Web3 bandwagon, this is one of the most important aspects to keep. The good news is that right now, Web3 communities are driving project directions, but also the tends of the overall space. Being able to listen and understand what is working and what is needed — then actually providing that, gets a lot of people excited.
But, trend-spotting, and then taking the time to understand the root cause of that trend, is a great way to take pulse of what people are excited about in Web3!
✨ Have any experiences to share or want to learn more? Join our Discord to talk now, or contribute directly to the Third Academy Library by applying to be a contributor below!✨
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