Council Post: How Web3 Companies Can Use Bear Markets to Build Mindshare

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By Kelly Weaver, CEO of Melrose PR, a leading Web3 PR and communications agency.

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There is no doubt that bear markets are the best time for founders to lay their heads down and build. Right now, Web3 leaders have a unique opportunity to create something truly revolutionary – not just market share, but mindshare.

Mindshare refers to awareness of a product, brand or event. It is an essential component of a successful project because when people think of one type of product or market category, usually only one or two brands come to mind. For example, when you think of smartphones, your next thought is likely to be “Apple.” When you think of electric cars, probably “Tesla” comes to mind. Being one of the few lucky brands that captures the minds of people everywhere, you can make or break what you are trying to create. This is because once one project has established a significant amount of mindshare, it is nearly impossible for another project to compete and attract attention in the same way.

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However, what most people don’t know is that mindshare and thought leadership go hand in hand: if you are able to position yourself as an expert in your field and as a resource for journalists who are relevant in the space Dedicated to exploring topics. Over time, your name and project will increasingly correlate with those subject areas. As a result, you will be able to build thought leadership that contributes to public awareness and validation of your project as well as meaningful mindshare.

Right now, there are unmatched opportunities to use this bear market to establish yourself as a thought leader. Here what they look like.

Offer advice on where projects should focus when building them

Thought Leadership includes quotes in articles, podcast interviews, YouTube and broadcast appearances, events and panels, and opinion pieces. Each of these channels presents an opportunity for Web3 leaders to raise their voices and advise on upcoming projects.

Helping other individuals find their place in the space is a powerful way to establish a personal brand because it will establish you as a true visionary that others look up to. For example, right now, there are many crypto-curious builders looking to decentralized finance, and they need meaningful guidance when it comes to improving user experience and onboarding, creating interoperability solutions and maintaining true decentralization. it occurs.

By providing thoughtful details about how other founders might think about building in the space, Web3 leaders will be able to create the kind of thought leadership that allows them to be truly influential – and establishes that kind of mindshare. that will put their projects on the map.

Unpack past errors and clarify what went wrong

After a devastating crash in the cryptocurrency market last May, many companies in the space quickly followed suit. Centralized finance platforms also collapsed, exposing the weaknesses of many businesses built like playing cards.

Right now, Web3 leaders in the DeFi space have a different opportunity to find out the reason for this most recent crash and explain what went wrong so that it can be avoided in the future. After the euphoric crypto high of 2021, the market is in dire need of a voice of reason. There is ample opportunity to build thought leadership around needs like clear rules and how entrepreneurs and government officials can design them together. Also, there is a very real difference when it comes to discussing the barriers to institutional onboarding and how they can be avoided.

For those aiming to become thought leaders in the Web3 space, it is essential to establish a sense of the long-term vision that can guide the next wave of DeFi: one that is built on first principles and a strong business model and that needs to be worked together. Designed with an emphasis on regulations and institutions that are ready to delve into DeFi and the benefits it offers.

Look to the future and make predictions for what is to come

Another way to be a meaningful thought leader is to discuss what the future looks like for Web3 and the various Web3 spaces as a whole.

For example, the most recent crypto crash has left many DeFi enthusiasts in a state of despair or apathy; What is needed now is new thought leaders who can provide insight into what is to come for that space. While DeFi is relatively new, there is enough data to provide insight into market trends and use those insights to predict what is coming next in the space and how we should prepare. At the same time, it is also important to spend time explaining how Web3 can be used as a tool to enhance both traditional finance and Web2. Thoughtful leaders who can understand what our current financial system needs and how DeFi can uniquely improve it, are set to establish a name for themselves and gain a true following in the months to come.

Individuals who are now capable of being thought leaders will have a leg up when their next bull run hits. By creating an audience today and connecting with other builders in the space, you’ll be able to capture the market and create the kind of mindshare for your projects that propels them to the stratosphere—and solidify them in the minds of decision-makers. . Globe.

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