TIVAN Consulting PNG White

Learn how to manage and build a web3 Community

How to build and manage a Web3 Community.

There are numerous methods how to build a Web3 Community. Sometimes, communities are even created by accident or form naturally, driven by customers or fans. But if a company or brand is actively seeking to build a community, there are several stages to be followed and different factors to be considered.

Start with asking the right questions!

As with many strategic undertakings, it is important to ask yourself some basic questions and. Some important questions could be “Why do you want to invest in a community?”, “What are your objectives?”, “Who do you want to target?”. Knowing the reasons behind the wish to establish a community, your target audience etc. are of utmost importance in order to successfully build a community. Building a community just for the sake of it will most certainly not be a successful endeavor. You have to ask questions and take your time to answer them. Then you can take the next steps.

Further, you have to take into account that building a community only for business value will not be sustainable. If you do not provide authentic purpose and address all four layers of the sense of community (community definition), your community will eventually subside and fail or not even begin to thrive at all. There’s a fine balance between adding value to your business and providing value to your members, which everyone needs to figure out for their community individually. 

 

When building your community strategy, there are different models you can use for orientation. One of the best framework-models is the SPACES-model which was developed by CMXHub:

The SPACES-Model

P - Product: Innovation, feedback, and R&D

The Product layer is centered around topics such as innovation, feedback, and research & development. The creativity of your community, its honesty in feedback, and willingness to provide you with input e.g. via surveys is highly valuable to your product development. Your community members are best suited to give you advice on where your business is lacking and which areas to focus on.

A - Acquisition: Growth, marketing, and sales

The goal of the Acquisition layer is to increase brand awareness and sales. In a community-centered approach, this can be reached via online and/or offline events, content creation, or marketing input. Further, members of your community can directly increase sales for instance through affiliate programs or brand ambassador models. Essentially, people trust their friends and family more than any old marketing campaign.

C - Contribution: Collaboration and crowd-sourcing

The Contribution layer focuses on collaboration and crowd-sourcing. It is your goal to motivate members to provide input for example in the form of content. The power of user-generated content cannot be stressed enough. If you provide specific guidelines and assure quality, user-generated content by your members can heavily push your output on several channels.

E - Engagement: Customer experience, retention, and loyalty

In the Engagement-layer of the SPACES model your objective is to increase the sense of belonging of your members. Valuable experiences your members make will be a strong factor in improving customer experience and thus drive up retention and loyalty.

S - Success: Customer success and advancement

The Success-layer is centered around customer success and advancement. You aim to increase the success of your members. This can be achieved in many different ways and can be reached through both tangible and intangible assets. It can also take place in different areas, be it personal success, career success, or other areas.

Focus and don't overdo it!

When you define the measures with which you intend to build your community, you should focus on only two layers of the SPACES-model. Specifically at the beginning of your endeavors, it is important to focus and not try and solve everything at the same time.

Furthermore, it is recommended to define not only your measures for the areas you focus on, but also your objectives, as in Key Performance Indicators. Measuring the success of your community ambitions is not always easy and you might have to adapt your KPIs in the process. One of the biggest benefits of having a community is that your members will gladly provide you with feedback so you can support your KPI monitoring directly via surveys which will give you valuable insights on what to focus on.

 

There are many more important factors to keep in mind when building a strong community, such as inclusion and equality or how to brand your community. Regardless on where you are on your journey to building a community, TIVAN Consulting can provide you with real-life knowledge on how to build a successful and strong community. If you want to learn more, get in touch with us now!

 

Did you like this article?

Book a call.

Let’s have a chat about community and how you can benefit from our expertise.

Cookie Consent with Real Cookie Banner