The realm of cryptocurrency, blockchain, and the broader Web3 space has been rapidly expanding. What once started as a niche for fintech enthusiasts seeking to outsmart the traditional financial system with blockchain technology has now transformed into an industry that regulators want to regulate, celebrities endorse, and major institutions invest in.
As a result, the narrative surrounding this space has also shifted over the past decade in an effort to attract long-term users. But how do you tell a story about an ecosystem with limited history? How do you sell an idea that is constantly evolving?
During Proof of Talk in Paris, Cointelegraph had an exclusive conversation with Amanda Cassatt, the founder and CEO of Serotonin, a leading Web3 marketing company. Cassatt, who previously served as the chief marketing officer of Consensys, explained how she built a successful marketing empire by telling the stories of Web3.
Cassatt’s journey into the crypto space began in 2015 when she was a founder in New York searching for a payment solution. It was during this time that she stumbled upon an early Ethereum meetup and was captivated by the intelligence and enthusiasm of the people she met. However, she realized that the concepts behind Ethereum were not easily explained to non-technical individuals at that time. Nevertheless, she was blown away by the idea that Web3 could serve as an alternative foundation for a superior financial system, prompting her to join the “circus” as she called it.
As she grew in her role at Consensys, Cassatt became involved in creating explanations for the nascent space. However, marketing in the crypto industry during the 2015-2017 era posed challenges. Words like crypto, Bitcoin, and Ethereum were not allowed on paid platforms such as Mailchimp, Google Ads, or Facebook, which hindered standard Web2-style programmatic advertising.
According to Cassatt, there are three types of marketing: owned, earned, and paid. In the early days of Consensys, the focus was on owned and earned marketing. However, the emergence of paid growth marketing in the space reflects its maturation, which Cassatt considers a positive development.
One of the most effective tactics employed by Consensys was building a network of meetup organizers who wanted to be associated with Ethereum. Cassatt ensured they had the necessary resources to host successful meetups and standardized their presentations. This approach allowed Consensys to create a roving content series that toured different meetups, attracting users and gathering feedback.
Cassatt also emphasized the importance of startups viewing themselves as media companies. For example, she highlighted the newsletters launched by Consensys, which covered all the developments in Ethereum and were valued for their editorial content rather than just promotion.
In terms of advice for the next generation in the Web3 space, Cassatt emphasized the importance of finding product-market fit properly. Startups should test their ideas with their target audience and iterate based on feedback. This approach allows them to gradually expand their reach and gather insights from a wider audience.
In conclusion, Amanda Cassatt’s experience in the Web3 space highlights the evolving nature of marketing in the crypto industry. By adapting storytelling techniques, building networks, and viewing startups as media companies, marketers can effectively promote and navigate this rapidly changing landscape.