Behind the Numbers: Strategies for Revealing Web3 User Value

We are busy with user growth and retention, desperately running data to find increments, and hoping to reach a certain user scale quickly. However, we often need to pay more attention to the value of existing user data.

What values do your users hold?

• Attention value

• Social value

• Sense of belonging value

• Financial value

Attention Value

All operators share a common understanding: attention is a scarce resource. Users' attention is limited, so capturing their attention has become a crucial goal for various products and services. The more time users spend on a product and the higher their usage frequency, the greater the product's value. This also means that the product has maximized the utilization of the users' attention value.

High frequency of use indicates that users frequently return to the product, showing that it continuously meets users' needs, whether it's information acquisition, entertainment, social interaction, or other functions. Frequent usage strengthens the bond between users and the product and boosts opportunities for data generation and interaction. This foundation supports continuous product improvement and personalized services.

The longer users spend on a product, the more deeply they engage with its content and services. This deep engagement not only enhances user loyalty and dependence but also brings more commercialization opportunities for the product.

For instance, longer user session times enable advertisers to place more ads on the platform. This increases ad exposure and click-through rates, ultimately boosting the platform's ad revenue. Additionally, extended use gives users more chances to explore different features and services, which can increase the likelihood of paid conversions.

Social Value

The Six Degrees of Separation theory posits that you can know any stranger through a maximum of six introductions. This theory applies to Web3, making the utilization of users' social value a mandatory task. Each user is connected to multiple other users, forming a wide and complex social network. Rapid user growth and effective traffic dissemination can be achieved through this network.

Sense of Identity Value

Some people are willing to spend hundreds of ETH to purchase NFTs, while others spend all day responding to community questions on Discord just to earn a Discord Role. This is the so-called emotional value.

Emotional value arises from users' emotional and psychological needs and can be tapped into through various emotions such as a sense of honor, existence, value, need, and being needed. Excellent marketers are like half psychologists; they study human nature and use mechanisms such as membership systems to uncover these underlying values, thereby achieving user operation goals.

Financial Value

By analyzing users' entire chain addresses, we can accurately understand their trading habits, capital flows, transaction volumes, and reserves. This in-depth data analysis helps projects understand users' risk preferences, investment tendencies, and preferred asset types, providing valuable information for formulating financial service strategies.

Financial value is not only about users' economic interests and asset appreciation but also about providing personalized and targeted services through a deep understanding of users' behaviors and preferences. This ensures a win-win situation for both the project and its users.

Having identified these user values, our task is to effectively mine the value of user data from these different dimensions.

Attention Value

In Web3, attracting user attention through TGE (Token Generation Event) is a common strategy. Besides TGE, another emerging method in the market is the points system.

A points system can effectively incentivize user participation in platform activities, enhance user stickiness, establish community interaction, collect data for personalized services, and promote market expansion and brand building. This mechanism rewards user behavior, effectively guiding and maintaining continuous user engagement and interaction, thereby improving the overall user experience and platform activity.

Recommended Reading: The Impact of Point Systems on Web3 Projects Growth and Engagement

By utilizing a points system, active users are attracted to the platform. The data generated by these active users then becomes a powerful tool for attracting even more users.

Social Value

Relationship chains are a low-cost way to acquire customers. Seed users are often your catalysts for viral growth. Modern viral thinking, traffic pool thinking, and niche traffic are largely driven by leveraging relationship chains to promote the continuous growth of the user base.

Social Virality

Referral programs, affiliate programs, and team competitions are all methods devised by project operation staff to leverage social relationships.

TaskOn Community has a rich sharing system that caters to both users and projects.

Sharing System: Users can participate in invitation tasks set by the project. While recommending the project, they can also earn points.

When a project achieves significant milestones or key updates, such as reaching a certain number of addresses, these are critical pieces of information that the project team wants to share. However, solely relying on data provided by the project team may not be sufficient to convince people. In such cases, using data from third-party platforms to support these claims can be more persuasive and credible.

Using data from third-party platforms enhances the objectivity and credibility of the information, providing independent verification of the project's achievements. This approach improves communication effectiveness and builds the project's credibility and reputation within the industry.

User Portrait

Utilize TaskOn's comprehensive analysis tools to precisely segment and analyze users within the community, thereby maximizing the use of the community’s user network for viral spread.

Firstly, through the Member List feature on TaskOn, projects can identify users with high influence and high exposure. These users not only have a large number of followers on social media but also have tweets that achieve high reach and dissemination effects. By setting up participation activities targeting these high-quality Twitter accounts, projects can effectively expand the reach of their activities and enhance their influence and visibility.

Secondly, through frequent sharing and invitation activities, we can test which users have higher referral value. These activities not only promote participation and interaction among existing users but also attract new users to join the community. Especially in activities targeting high-quality Twitter accounts, leveraging these users’ influence and networks can achieve more efficient user acquisition and community growth.

With TaskOn's analysis tools, projects can precisely design and execute targeted and impactful promotional campaigns. This not only helps maximize the use of the community's fan propagation network but also optimizes campaign effectiveness, enhances user engagement, and boosts overall community activity.

Sense of Identity

Sense of Identity is one of the most abstract forms of user value. While it does not directly generate practical benefits, it does exist in the real world and is typically popular among specific groups. At this value level, luxury and trendy brands often excel in leveraging cultural empowerment to drive premium pricing for their products.

Shaping identity can be combined with a points system: Users can accumulate points to redeem rewards such as tokens, NFTs, whitelist access, and more.

Financial Value

Financial value not only concerns the economic benefits and asset appreciation for users but also involves providing personalized and targeted services through a deep understanding of user behaviors and preferences.

Firstly, by analyzing users' complete chain addresses, one can precisely understand their trading habits, fund flow situations, transaction volumes, and accumulated funds. This in-depth data analysis helps projects understand users' risk preferences, investment tendencies, and preferred asset types.

Secondly, integrating SNS account information allows for precise outreach and the setup of activities with eligibility criteria. This approach enhances users' sense of belonging and prestige. Through joint marketing efforts with active projects, the project can effectively expand its user base and offer financial products that align with users' trading habits and contracts. This strategy not only attracts more users to participate in transactions but also strengthens interaction and trust between the project and users, thereby promoting ongoing user engagement and transaction behaviors.

Traditional operational methods often keep users' SNS account information and chain addresses separate. TaskOn can assist projects in integrating this information and exporting it for strategic use.

Finally, by guiding users to participate in transactions, projects can establish a stable and sustainable financial value chain. This involves setting attractive transaction incentive mechanisms, optimizing transaction experiences, providing real-time market information, and offering investment advice. These measures aim to increase users' transaction frequency and volume while enhancing transaction efficiency and satisfaction.

To maximize and leverage user value to the fullest extent, each step requires meticulous adjustments and flawless execution. It is essential to not only meet user needs but also deeply consider details to unearth the deep-seated value of users, which is no easy task. However, regardless of how circumstances evolve, excellent operations professionals must possess solid logical thinking skills and a deep understanding of human nature. These are unavoidable professional requirements worthy of in-depth research and exploration.

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