tw3c #7: How to own a winery, thinking participation-first & an AI co-pilot

Welcome and GM to The Web3 CRM Brief - or short, tw3c.

tw3c is the number one web3 CRM newsletter for marketers, growth and project managers who scale web3 communities. In this newsletter, I'll share the most interesting stories about

👋 community engagement📇 CRM tactics for web3📊 on-chain wallet data collection & analytics⛓ tool tipsand actionable best practices to make the most of your web3 communities!

👋 One Best Practice: How Wineries And Breweries Turn Consumers Into Engaged Owners

Wine, beer or whisky?🍷🍺🥃

"I only drink Heineken"

"Cabernet Sauvignon or nothing"

Have you ever noticed that people very quickly become die-hard ambassadors for a brand or type of beverage and then are very vocal about it?

Not surprisingly, the beverages industry has been one of the early adopters for web3 technologies and have since been able to foster a unique form of ownership, participation and community engagement. By leveraging blockchain and cryptocurrency, these businesses are able to offer consumers a way to participate in the production and distribution process, creating a more transparent and inclusive ecosystem.

This new trend has turned consumers into engaged owners, creating a sense of pride and responsibility in the community around the winery or brewery.

Here are some of the most prominent use cases of such businesses, which have also received impressive rounds of funding for their participatory visions:

Traceability: Adding a layer of transparency and trust by making aspects like origin of grapes, fermentation process, barrel aging, supply chain and distribution processes, and certifications traceable on the blockchain.

Already doing it: WineChain, Crurated

Membership: Offering added value through forming memberships with token-based accesses passes. Perks can include access to exclusive contents, events, networks, sought-after wines or whiskies, and merchandise.

Already doing it: Envico Winery DAO, Crurated

Ownership: Enabling consumers to become owners of a winery, brewery or distillery, which is certified in the form of an NFT, and using smart contracts to distribute profits amongst owners. Additionally, ownership can also take on more physical forms through providing access to "physical twins" of the NFTs.

Already doing it: Meta Brew Society, rareWhiskyNFT

Participation: Giving consumers access to luxury goods as investment opportunities through fractionalization. Moreover, participation elements can also include voting rights in governance, business or product decisions.

Already doing it: Grapes on Chain

You could now have a chance to become an owner of your favorite winery or brewery!

Cheers! 🍻

📇 One Tactic For Your Project: Participation

One of the most discussed aspects around web3 communities probably is participation. Participation is also what sets the extended possibilities of web3 apart from web2, in that it allows for the creation of more inclusive business models and a technology-based, automated execution of those.

How can brands, businesses and creators give back to a loyal fanbase or to customers that keep coming back? How can you empower them to get involved and become an active driver and decision-maker in the community?

These are possible ways to think participation-first when designing your offering:

• Decision-making power: Offering voting rights in accordance to token allocations, forming a Decentralized Autonomous Organizations (DAO)

• Share of visibility: Organizing community networking events, getting your community members to talk on panels to share visibility

• Share of profits: Weaving in co-creation elements e.g. through gamified experiences, distributing tokenized profit shares for the best co-creations (see: Nike's .SWOOSH)

• Education: Providing educational components (e.g., manuals, guides, and guides) for navigating the Web3 and the crypto economy, as all of the above is only so good if consumers don't know how to use it responsibly

• Bonus: User-friendly UX/UI: Creating user-friendly, barrier-free interfaces that reflect the ambition of web3 to be more transparent and inclusive than web2 products, and that include heterogenous perspectives both from a designer and a user side

📊 One Metric To Consider This Week: Voting Participation Rate

Integrating ways for your community or consumers to cast a vote in governance, strategy or product discussions to become an active shaper of your business is a great way to build trust, increase engagement and ultimately, create a sense of pride and responsibility for your community members to be a part of your journey.

Do you want to understand how well your participation options are being received?

Then, a metric to consider could be Voting Participation Rate.

The Voting Participation Rate is the percentage of users who voted in a decision-making process and is an important indicator of the level of community engagement and community health. A high voting participation rate generally indicates that there is a strong sense of awareness and responsibility among the community, while a low rate suggests a lack of engagement, interest in the process or understanding of ways to participate.

Monitor this over time to get an understanding whether you'd need to communicate your participation options more often or better, or change the processes and systems regarding how you involve your community.

⛓ One Tool To Look At This Week: TrueReach.ai

Imagine you've spent weeks crafting an enticing new product launch story that you expect will resonate perfectly with your target audience. You've created the content that speaks the language of your community. You've gone to the trouble of breaking down your content so that it's appropriate for all formats in your key communication channels. You launch, and then - low engagement, high CPAs, and perplexity about what went wrong.

For nearly a decade, I've worked in contexts where building communities and converting more customers into brand advocates has been the number one goal. Time and time again, it's been shown that the fit between message and market is an important element for success, but if your visual identity doesn't appeal or engage your target audience, the fit between message and market isn't enough. In fact, a study conducted by Nielsen, a global leader in audience measurement, data and analytics, found that the creative accounts for about 56% of a campaign's performance.

This week's tool recommendation helps you jumpstart your graphics and video creation process by taking the initial "creative block" out of the equation and giving you ideas to get started using AI:

TrueReach.ai

Kudos to Shubham Tulshyan & team for building this :)

Thanks for reading! How did you like this edition? Would you like to add anything or expand on any of the above? Don't hesitate to reach out by responding to this email.

Until next week,Lea