The world of Web3 marketing has no shortage of tactics and trends. Every other year, it seems that there is a new platform that everyone is advertising on, a content style for reaching customers, new slang, and whatnot.
While it is very important to stay on top of these various trends, it is also possible to fall into FOMO. This sort of FOMO will see you jumping from one marketing tactic to another while still not getting the results you desire. Here are a few ways to avoid this:
Do Your Research Into Web3 Marketing Trends
A lot of us fall into the trap of implementing various trending web3 marketing tactics based on FOMO. This FOMO is typically bolstered by a lack of research. Say a bunch of web3 companies are advertising on a new social media platform. You might, in a bid to not be left behind, immediately rush to advertise on the same platform. But instead of doing this, you should take a moment to actually research the platform.
What type of people congregate on this platform? How does it differ from the current ones? What are its growth projections? When you research the various marketing trends and tactics, you can better decide whether it has any benefit for you or not. If you’re ever in doubt, you’re best off speaking with a web3 marketing agency like Proleo.io that tracks them as they happen and can offer you research-backed facts.
Decide On Your Tactics Each Quarter
Think of investing in Web3 marketing like spending money at a store. You’re much more likely to go off track and buy everything and anything if you don’t have a list ahead of time. Each quarter, have a meeting with your team and decide on what marketing tactics you’re going to pursue. If you’ve decided that Q2 will see you focusing on pay-per-click ads and influencer marketing, stick to that till the end of the Quarter.
If another marketing tactic comes on board, you can hold off until the end of the quarter rather than derailing your plans. Of course, this should be done with nuance, as sometimes, making a snap decision to take on a new marketing approach can be beneficial.
Complete Current Marketing Efforts
The worst manifestation of web3 marketing FOMO is having a bunch of unfinished marketing efforts in your wake as you try new ones. This means cutting your Instagram ad campaign short to start a Twitter ad campaign, only to abandon that halfway and work with an influencer. This has a myriad of disadvantages. First, it means wasted time and resources. Abandoning an Instagram campaign halfway means that the money you’ve spent will not come to fruition. then it means the time you’ve spent setting up the campaign has also gone to waste.
Another thing to keep in mind is that abandoning marketing efforts halfway means that you cannot see the complete outcome. If you run the full campaign, you’ll know to what extent it has succeeded or failed. In the case of the former, you know what you’ve done right, and in the case of the latter, you know what to avoid moving forward. So, complete your marketing efforts and don’t hop from one trend to the other.
Stick To A Budget
Outside of being strict with your time and completing marketing efforts, you should also have a budget in place. If your company has decided to spend a thousand dollars a month on marketing efforts and will not go outside of this, you’re less likely to spend money on random marketing trends. More likely than not, you will spend money on the methods that have been tried and trusted and not burn through your budget.
Another idea would be to set up a budget for experimental web3 marketing efforts. If $800 of the budget is allocated for tried and trusted web3 marketing options, the rest can be used for experimental options. That way, you get the best of both worlds in that you get the results you’re already sure of while trying something new.
Observe the Results of others
As the saying goes, it is better to learn from the mistakes of others than your own. Rather than succumbing to FOMO when it comes to web3 marketing, consider your competitors and contemporaries who have taken it on. Say a bunch of companies have in
itiated airdrops as a marketing tactic. Find out how successful these have been and if so, what has made them so successful. Rather than rushing to immediately host an airdrop of your own, taking a moment to figure out if they are worth it or not will save you a lot of headaches in the long run.
Take The Risk ( Sometimes)
In this article, we’ve touched on the ways to avoid mindlessly spending on web3 marketing FOMO. At the same time, you should occasionally take the risk to avoid getting left behind. It’s a tricky balance to figure out, but knowing when to try something new and went to abstain will help your business. Typically, it comes down to investing in well-researched tactics and trends versus following the crowd at every given point. The more you explore various web3 marketing Tactics, the more you will be able to tell the difference.
Conclusion
Web3 marketing is a complex landscape that sees new ideas floating around the ecosystem all the time. For businesses, there is the challenge of avoiding FOMO and rushing into every tactic that finds its way to the market. As we pointed out in this article, avoiding FOMO boils down to sticking to a budget, sticking to a plan, and seeing marketing efforts to their conclusion before jumping to others. At the same time, doing research on new marketing trends will develop your discernment. With these, you will know when to avoid FOMO and when to take a calculated risk and explore a new marketing opportunity.
