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GM, fellow Web3 frens 🖖
Welcome to Epic Web3 Newsletter — your weekly dose of actionable insights from the major Web3 experts, who help your products go TO THE MOON 🚀
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🧞 Hitting Product-Market Fit in Web3. Community Insights on how community-led initiatives supercharged Intract’s growth.
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Our genie avatar collects insights from the Web3 community and brings it to you, especially those that help to grow Web3 products from scratch. Come say “gm” on Twitter!
This case study is brought specifically to Epic Web3 readers by Apurv Kaushal, Co-founder at Intract — a growth platform for Web3 projects, built for & by leading Web3 communities.
— How did Intract originally start?
Intract began as a guild of only three builders in the crazy NFT summer of 2021. As they navigated their way through the industry, encountering scams and chasing blue-chip success, the team discovered a passion for building communities powered by Web3 incentives.
While assisting various projects, the Intract team recognized that the current growth models were not sustainable: mercenary capital, airdrop farming, and Twitter bots were effective for initial traction, but detrimental to actual platform usage.
— What is Intract now?
Intract is the ultimate growth platform for Web3 projects, built for and by leading communities. Over 100 project collaborations, 90+ members, and 2 million impressions to date, the community is evolving into a growth think tank and is backed by experienced builders from Axie Infinity, Unstoppable Domains, 1inch & the likes.
💡 All of this has been achieved by by prioritizing the fundamental aspect of Web3: a dynamic and engaged community.
Community is the elementary driver of any Web3 initiative. Without community activation and engagement as your north star, you might as well ship HTML with no goal.
— Apurv Kaushal, Co-founder
— How exactly did the community contribute to supercharging Intract’s road to PMF?
1️⃣ Building a holistic community of early adopters
The first step towards achieving PMF is identifying the right pain point from an almost infinite range of possibilities, which can be a daunting task for founders.
To create a holistic perspective on growth marketing in Web3 and avoid getting stuck in localized optima of pain points, the Intract team selectively onboarded individuals with diverse backgrounds in terms of roles (growth, community, partnerships), company stage (from seed to unicorn), and more.
This provided them with a bird’s eye take on the challenges that the product can address without being pigeon-holed into a specific vertical.
💡 Pro Tip: Maintain an up-to-date database of your community members and their latest adventures.
2️⃣ One-on-one conversation — open-ended but regularly scheduled
When onboarding members, it's important to align with them through one-on-one conversations and regular calls. At Intract, the team spends 30 to 45 minutes each month chatting with some of their active members. These conversations are a mixture of:
— Open-ended discussions about day-to-day happenings: these are great to build empathy, uncover insights & find use case inspirations;
— Laser-sharp hypothesis validation: this is helpful to get early validation of broad product directions;
— Divergent brainstorming: this is a magical way to open up product roadblocks (iterations) around solving specific pain points and inspiring bold experiments;
3️⃣ Event-inspired organic & community level conversations
At Intract, they follow growth leaders of the community on social media to engage with them and build long-term relationships. This often acts as a trigger for an unscheduled 1:1 chats about their topics of interest or latest developments in the industry.
What’s more, Intract regularly hosts AMAs, fireside chats, and champions co-authored publications with a planned schedule. The founding team also engages with members regularly on the #general channel in Discord to get multiple perspectives.
— How can the conversations help the product?
For Intract, many interesting conversations sparked around airdrop farming, smart tokenomics, KOL quality assessment, etc. and thus has helped the team to:
— Find USP (Unique Selling Proposition);
— Boost co-creation for long-lasting engagement;
— Improve product discovery and exploration.
4️⃣ Community-led sprint prioritization
Communities foster a deeper long-term immersion into phases beyond initial research — something that cannot be gleaned from interviews and product analytics.
The product sprint plans (what features will be made this month?) at Intract go through an informal community review before getting executed. This way, you get community buy-in before the product is even delivered.
— How does it work?
A few members are pinged in advance and the prioritization template is shared for feedback directly on Telegram. This is less commitment-heavy than the community-sourced Build In Public models (popular in other communities). Here’s what really matters:
5️⃣ Behavioral data-backed feedback
Getting user feedback is key to driving repeated product adoption. The community at Intract actively engages in trying out various products (that’s one of their core value props when onboarding ) and giving feedback.
💡 Pro Tip: Adding a layer of product analytics (via tools such as Mix Panel) can further solidify insights and define product iterations unambiguously.
6️⃣ Product Evangelism
How to repeatedly grow your user base and GTM motion? At Intract, they believe that there’s no better way than setting up product evangelism via your close-knit community, especially in Web3. The team has recently launched a closed alpha program to onboard early adopters for its latest version of the Growth & KOL CRM. The referral program follows soon, so stay tuned.
In conclusion, let’s repeat one simple rule: community is king. Powerful communities tend to create a flywheel of growth that drives insights, iterations, and adoption for a product in a very organic fashion, and they also enable startups to skip the initial hoops of MVPs while continuously coming up with innovations in Web3.
Alright, that’s all for today! 👋 But wait…
You didn’t say “gm” on Twitter! Let’s catch up there for daily insights.
Sending growth your way,
Epic Web3