Go-to-market in web3 | Maggie Hsu & Pyrs Carvolth | Summary and Q&A

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July 21, 2023
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a16z crypto
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Go-to-market in web3 | Maggie Hsu & Pyrs Carvolth

TL;DR

Go-to-market in web 3 involves developing a plan for bringing a product or service to market, with a focus on purpose and stakeholders rather than just the product. It involves strategies such as building partnerships, negotiating, and utilizing various tactics like airdrops.

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Key Insights

  • πŸ•ΈοΈ Go-to-market in web 3 focuses on purpose and stakeholders, starting with defining the need being solved.
  • πŸ’ Tactics in web 3 GTM include engaging developers, building communities, forming partnerships, and utilizing airdrops.
  • πŸ‘Ά Partnerships drive growth by improving products, reaching new audiences, and generating revenue.

Transcript

thank you my name is Maggie Shu and I run go to market for crypto fund I'm joined today by my colleague Pierce carvoth our go to market partner I'll be talking about what go to market is go to market in web 3 some go to market tactics and then Pierce will Deep dive into two critical elements of go to market the role of Partnerships and negotiating ... Read More

Questions & Answers

Q: What is go-to-market (GTM) in web 3?

GTM in web 3 involves developing a plan to bring a product or service to market, with a focus on purpose and stakeholders. It differs from traditional GTM by starting with defining the need being solved and target stakeholders, rather than the product and target market.

Q: What are some GTM tactics in web 3?

GTM tactics in web 3 can be broadly classified into ecosystem strategies (layer 1 blockchains, protocols) and product strategies (wallets, marketplaces, services). Key tactics include engaging developers through programs and hackathons, building communities through events and social media, forming partnerships with key players, and leveraging airdrops and token incentives.

Q: How do partnerships drive growth in GTM?

Partnerships can help make better products, reach new audiences, and drive revenue. For example, partnerships like Uber and Spotify personalized the music in rides, attracting more users and increasing app usage. Lego and Netflix partnered to engage the adult audience of Stranger Things fans. Partnerships need to be a mutually beneficial outcome, and tactical empathy and active listening can help negotiate successful partnerships.

Q: How should a startup approach pricing in GTM?

Startups should articulate the value of their pricing by highlighting the features and benefits it offers. Comparables or market reports can be used to justify pricing. Additionally, considering upsell opportunities as the product develops can help guide pricing strategy. Asking clients about their current spend on similar services can provide insights, or market research can be used to estimate competitors' pricing.

Summary & Key Takeaways

  • Go-to-market (GTM) is a plan for launching a product or service successfully.

  • GTM strategies include building the offering, defining the target stakeholders, setting pricing, determining messaging, and reaching customers.

  • In web 3, GTM plans focus on purpose and stakeholders, instead of just the product, and may involve different strategies like airdrops and partnerships.

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