Good Morning Community Managers!
GMCM aims to become a Community for Community Builders.
GMCM stands for Good Morning Community Managers and is a networking event designed to bring community builders together and share insights which is the most important while undiscovered sector in Web3’s ecosystem
In June, we hosted the second GMCM successfully to conclude the first half of the year. As an official side event of Seoul Meta Week 2023, the event received much more attention than the first one. As a result, more than 150 Web3 builders from 70 different companies, 5 university academies, and freelancers attended the event, making it one of the biggest events ever held at Hashed Lounge.
So, what happened at GMCM? Let’s find out! 🔥
Building Sustainable Web3 Community
Unlike the 1st Meetup, this time was not limited to community builders but open to all Web3 builders.
While most projects agree on the importance of community in Web3, there are challenges in its management. In particular, creating a strong community, where both early users and newcomers feel a sense of belonging and actively engage in the project, is very tough. This is not only community managers’ task but for all Web3 builders as there are many important factors such as tokenomics, business model, and in-demand utility to build a sustainable community.
The event consisted of keynote sessions by Hyunmyung Kim from UNOPND and Jaemin Park from Modhaus. Following the keynote sessions, a panel session took place involving a diverse range of Web3 builders, which offered a multitude of unique insights and professional viewpoints.
Overall, the networking event was more than just a gathering of professionals — it was a thriving ecosystem of Web3 builders. Throughout the event, there was a dynamic exchange of business cards and QR codes, as relationships were being built not just for the present but also for the future. It was clear that everyone understood the value of these connections within the Web3 space.
Keynote 1: Web3 Marketing Overview
— Hyunmyung Kim (Marketing Manager, UNOPND)
As a “Marketing Guy” of UNOPND, Hyunmyung shared his expertise on the fundamental of marketing, highlighted the differences between Web2 and Web3 marketing, and elaborated on his ultimate objectives as a Web3 marketing manager.
- Marketing is 1) understanding customer needs and desires, 2) communicating the benefits of products and services, and 3) leading potential customers to take action, such as making a purchase or achieving a specific goal.
- Web3 marketing works in the same framework, but it requires a different approach. For example, a Web3 project needs interactive marketing channels like Discord and Twitter. Also, marketing campaigns should be more user-centric and users should be able to participate in community management, collaborations and partnerships, airdrops and giveaways, loyalty programs, etc.
- However, the Web3 marketing strategies above still have huge limitations due to the fragmented Web2 and Web3 user data.
There are 3 key limitations to this situation and to solve this problem, various marketing solutions were introduced.
- How to reach?
It is hard to target Web3 users with ads due to the lack of behavioral data, Web2 platform policies, and the low traffic of Web3 native social networks. However, Web3 Ad Networks (Slise and Addressable) are trying to solve this question by leveraging On-Off chain data. While those products are at the early stage, there’s much room to grow when it’s combined with in-app user data and enable the Cost Per Transaction ad model.
- How to track?
It’s difficult to measure performance in Web3, due to the lack of wallet attribution. Spindl introduces the solution to track attribution from Web2 ads to Web3 transactions (ex. sales) which enables conversion tracking and optimizing.
- How to retain?
It is also important to retain users, not only acquire users. Dialog was the solution to diversify messaging channels and build a CRM with the personalization of users.
As the Web3 market grows, performance tracking and optimization will be essential for Web3 marketing in the near future.
Keynote 2: Understanding the Culture
— Jaemin Park (Community Manager, Modhaus)
Jaemin shared his experiences and insights from managing the fan communities of tripleS and ARTMS. He explained what makes idol group communities different from other projects and how strategies he used for fan communities can be applied to projects in general.
As the first decentralized idol project organized by Modhaus, tripleS incorporates Web3 technologies as follows.
- tripleS regularly reveals new members on its official YouTube channel and releases their NFTs at the same time.
- Voting is conducted within the COSMO app using ‘COMO’, which can be earned by converting NFTs.
- Based on the voting results, fans can choose unit group members and the title track of the comeback album.
The idea of decentralized voting comes from the needs of the fan community. First, fans want to participate in artist activities. Second, fans desire to authenticate and recognize each other for their own participation. Lastly, fans would like to behave as a community rather than as individuals. And these needs can be fully addressed by incorporating blockchain technology.
- The desire to participate in artist activities can be resolved by allowing fans to trade NFTs with each other, vote, and ensure transparency to know that they are directly participating as fans.
- In addition, fan activities cannot be easily authenticated/recognized on the existing Web2, but this can be solved with SBT on the blockchain, which is permanent and immutable.
- Lastly, a group of people become fans and build a community, and blockchain can provide a transparent community so that a more cohesive fandom can be formed.
Jaemin also shared valuable advice regarding the use of Discord, a popular platform for Web3 communities. He explained how to increase engagement by customizing Discord to make it more convenient for users. Also, colorful content within Discord contributes to increasing user retention. In fact, Modhaus offers a variety of content, including Discord Live, pre-debut sneak peeks, Objekt trading, and random events to keep users engage.
He said every Web3 project should be run like a fandom business. That means it’s crucial to foster emotional bonding that goes beyond economic gain.
In addition, he emphasized that a community manager’s role is to give users clear guidelines while delivering engaging content so that they would not leave.
Building Sustainable Web3 Business and Community
The panel session brought together specialists from various projects to engage in a broad and in-depth discussion about challenges and strategies for constructing sustainable businesses and communities.
Goran, Host of Algoran TV, led the panel session as a moderator. Her wit and expertise captivated the audience, making the session that lasted an hour thoroughly engaging.
When she asked a question, everyone was looking for a microphone to answer with enthusiasm. Passionate keynote speakers graced the stage, sharing their success stories and challenges, and inspiring the audience with their relentless determination and innovative spirit.
Despite the fact that they all had different ideas, they agreed that we all are still early, meaning that there is no clear solution to the current problems of building sustainable Web3 businesses and communities.
According to all panelists, Web3 builders need to continue to test different models and apply feedback and changes from the community.
See you at the next GMCM!
The event was a huge success! We would like to thank you for being a part of our event. It was inspiring to see so many passionate individuals gathered in one place, sharing ideas, insights, and forming new connections.
We want to build the GMCM community bigger to let Web3 builders find more opportunities to connect and make synergy. We look forward to seeing you at our next event, where we can continue this fascinating journey together.
Stay UNOPND & join GMCM, let’s unlock the world of Web3 together.