tw3c #8: Scotch & Soda's web3 loyalty, your token-gates & Flaunt

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: Scotch & Soda Takes Action To Turn Around Their Web3 Loyalty Program For Good

Back in September 2022 I minted one of the 'Club Soda 3.0' Founder's passes - and was disappointed.

At first.

Why? Because there were hardly any initiatives to activate and engage the community after the mint. 

Their promise: The already established Club Soda goes web3. Their promised perks:

• exclusive events, experiences, contents and offers

• co-creation on special brand initiatives

• influence on decisions through constant community feedback

Sounds nice, but no actions followed.

Fast forward to early February 2023, it is announced that Scotch & Soda will now work together with Flaunt* to "offer brand perks to NFT holders, scale their web3 program and co-create with customers" putting co-creation of digital assets at the core of it. Does it solve the problem of the initial inactivity? Certainly a bit, but getting it right the first time would have been even better.

It goes to show once again that managing such a customer loyalty program is no walk in the park and requires a lot of effort and resources to execute and maintain. Therefore, don't dismiss the idea of using platforms like Flaunt - you don't have to build everything from scratch.

*more on Flaunt in the tool section

📇 One Tactic For Your Project: Token-Gating

Token-gating is one of the most prevalent web3 CRM tactics we're currently seeing. This week specifically, it has been all over the media with Spotify's announcement to launch a pilot around token-enabled experiences:

What can token-gated experiences help with?

• brand loyalty

• community development

• community re-engagement and retention

What can you token-gate? A few ideas are:

• token-gated marketing campaigns (e.g. special promotions or products you can only get when holding a specific token in your wallet)

• token-gated customer portals (e.g. closed membership areas you can only access when holding a specific token in your wallet)

• token-gated events (e.g. offline events for which you use a specific token in your wallet as an admission ticket)

What are easy ways to implement a token-gated experience?

• set up a 'holders only' Discord or Telegram channel e.g. using the Collab.Land bot

• create an NFT ticketing experience e.g. using Tokenproof

• set up membership login areas or digital content pages e.g. using Shopify

📊 One Metric To Consider This Week: Member Conversion

From the user's perspective, Web3 communities work very much like traditional memberships, fan bases, or followers: you join, you engage or you don't, and if it doesn't add value, you leave.

If you want to know how well you can retain your community members, you should look at Member Conversion in a funnel.

Depending on how many activations you run (promotions, quests, giveaways), it can make sense to add cohort analyses to get an even clearer picture of which types of campaigns are having the biggest impact on your retention goal.

⛓ One Tool To Look At This Week: Flaunt

Using Scotch & Soda as an example, we looked at the importance of creating re-engagement moments for your community and the first steps you can take to achieve this across the funnel with token-gated experiences, for instance.

"Wait... do I need to understand Solidity for this?" 

That's where this week's tool recommendation Flaunt comes in, which makes creating such entry points into web3 so easy that you don't even realize you're using web3 technology.

Flaunt is a platform-based powerhouse to leverage and build brand loyalty. The platform makes it easy for you as a marketer to use web3 technologies such as

• utility NFTs

• smart contracts

• web3 marketplace storefronts

to provide your community with

• token-gated experiences

• ownership models

• gamified rewards initiatives

• collections

• community votings

... and much more.

What's important from a marketer's perspective, Flaunt integrates with the broader tech stack like Salesforce or Shopify and has built-in analytics to measure the ROI of your initiatives and learn more about your community.

Sounds too good to be true? Flaunt is currently offering free Demo passes that you can mint (no wallet needed) and unlock a demo Rewards Experience (which includes IRL benefits 👀) so you can see for yourself the user journey your community would receive.

The usability of all of this is just the cherry 🍒 on top!

Kudos to Connor Kelley & team for building this :)

Thanks for reading! How did you like this edition? Don't hesitate to reach out with any feedback by responding to this email.

Until next week,Lea

P.S.: What to read next today?👇