Eric Siu explains why community matters for marketing in Web3. Build community first, treat it as a long-term investment, and add an emotional layer that improves retention. Community demands an all-in effort.
Number 1, Web3 winners are building community first, then launching their products and services. So it's kind of a reverse approach where people build a business first, then a community. Now it's you build a community first and then you figure out the business model afterwards. Number 2, great marketing is a long-term investment. So you gotta be patient for the long term. You gotta make good investments. And community is actually a forcing function to make you think long term because you have to cultivate, you have to build your community one person at a time. Number 3, communities are built on relationships, which makes them difficult to copy. Relationships are non-fungible. So when you think about NFTs, Well, NFTs can't be cut up, duplicated, right? Neither can relationships. And number 4, community improves customer retention. So community adds an emotional layer to your product. And if someone wants to churn from your product, that means they are leaving their people, which makes it harder for them to leave, right? So you got to think about that. And number 5, last but not least, community raises the bar of marketing. So you can't half-ass community. You have to go all in for the long term.
