The strategy for achieving $400 million in transactions 🚀💸
The example of web3 fintech Request Finance
Today's agenda...
Explore Request Finance's groundbreaking journey, leveraging the AARRR model, and revolutionizing cross-border payments to exceed $400 million in transactions.
Navigate the Web3 event landscape with actionable tips on low-cost opportunities and preparation to ensure project success without breaking the bank.
⏰ Reading time : 6 min
Trying to uncover the marketing secrets behind Request's meteoric rise with the Pirates Funnel🚀
Decrypt the AARRR model for your Web3 project
🧭Discover the success story of Request, the Web3 project that has captivated the market by facilitating over $400 million in transactions and attracting more than 2000 businesses. This innovative project has revolutionized cross-border payments for CFOs and built an engaged community of over 700 financial directors.
The AAARRR model, a staple in the digital marketing arsenal, can serve as a compass for your next marketing move. It breaks down the customer journey into Acquisition, Activation, Retention, Revenue, and Referral. Understanding and applying these steps is crucial to turn a Web3 concept into a thriving project.
Acquisition: targeting with precision 🎯
Request's journey began with a clear focus on CFOs (The Founder, Christophe Lassuyt was himself a CFO) struggling with cross-border payments but quickly focus on experienced Web2 CFO that had to deal with all specifics problems of web3 . By pinpointing this specific pain point, they effectively attracted a niche yet vital audience. Tips:
Identify and address a specific need in your market.
Develop solutions that speak directly to your target audience's challenges.
Position your product where your audience naturally congregates.
Activation: seamless user experience 🌐
Request recognized the complexity of Web3 and countered it with an intuitive interface, like it was the standard in web2. This approach not only eased users into the new technology but also showcased the practical benefits of their platform. Advice:
Design your product for ease of use from the first interaction.
Create educational content that guides new users.
Continuously seek and incorporate user feedback for improvements.
Retention: building a loyal community ❤️
With over 700 CFOs in the Web3CFO club, Request has fostered a strong community, demonstrating the value of continuous engagement and support.
Recommendations:
Establish platforms for community interaction and knowledge sharing.
Regularly update your product and communicate these changes.
Recognize and reward community contributions.
Revenue: strategic monetization 💡
Handling over $450 million in transactions, Request has adeptly monetized with plans based on transactions volume, its offerings without compromising user value. They stated with fees on each transactions before going on simple plan. They provided help to a lot of new web3 CFO : so they set up for them a tailored training program.
Key Advice:
Align your pricing strategy with the value provided.
Explore multiple revenue streams.
Be transparent with your users about costs.
Referral: earning user trust and advocacy 👍
Request's commitment to reliability and innovation has fostered organic referrals completed with referal program.
( If you want to support Chain Reaction, you can use our referal link ;-) ) 🙏
Practical tips:
Ensure your product consistently exceeds expectations.
Highlight user success stories and testimonials.
Implement and promote a user referral program.
While Request might not have deliberately sculpted their strategy around the AARRR model in a textbook fashion, their journey showcases how such a framework can emerge organically through a growing understanding of the market and seizing opportunities as they arise. Their trajectory suggests that, even if the AARRR model isn't explicitly employed from the start, it remains an invaluable tool to assess and challenge the marketing strategy of any Web3 project.
Strategic Web3 Event Planning : Maximizing Value Without Breaking the Bank💰🚀
Don't let budget constraints hinder your Web3 event experience. Learn how to spot cost-effective opportunities and prepare strategically for success. From exclusive side events to online alternatives, discover actionable tips to make the most of your attendance without breaking the bank.💡
1- Identify Low-Cost Opportunities 🕵️♂️🔍
Don't let a limited budget hold you back. Look for accessible or free Web3 events and side-events. Select those that offer the best potential for your network and learning. This requires thorough research, but the results are worth it.
Take Paris Blockchain Week, for example.
Ticket prices for the 2024 edition, like previous ones, are clearly prohibitive, ranging from 2 390 euros to 4 500 euros excluding VAT. But you can play it smart. Here are a few tips:
Participate in sides events: some are even choosing to attend only sides events. Some are selective, but many are free of charge, but places are snapped up very quickly. It's up to you to be on the lookout. Here, for example, is the list of some 60 side-events for the 2023 edition.
Try to get a discounted ticket if you are, as you probably are, a start-up. There are two conditions: you must have been in business for less than 4 years and have raised less than €5 million.
Organize your own side event and list it on the official event website. It's easy enough to book a corner in a bar and offer a few tapas and bottles. For a few hundred euros, the impact can be enormous. Use Meetup or Eventbrite to easily manage bookings to your event.
Example of Cosmos’ side-event during last EthCC organized with Eventbrite
Bonus: invite one or two KOLs who can help your event take off.
Take part in the online version of events, which may be less powerful, but still allows you to network remotely. For example, at Polkadot decoded, the event's Telegram was accessible to all registrants, enabling me to network easily from a distance.
2- Preparation Before the Event 📅🤝
Did you annonce your venue ? Did you set clear goals for the event ? Do you have a concise pitch of your project ?
We have prepared the ultimate checklist to help you succeed in preparing for your web3 event without breaking the bank.
Access the checklist here.
In Conclusion Even with a limited budget, it's possible to gain significant advantages from Web3 events. The trick is to prepare carefully, focus on quality networking, and use digital tools at your disposal.
Act Now 🚀 for your next event !
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Disclaimer : The goal of this newsletter is to inform and produce content related to management in the world of Web3. It is not investment advice. Investments in crypto-assets and NFTs are risky and can result in the loss of your entire capital. Always conduct your own research and exercise caution.