Devising GTM strategy for firms in web 3.0 space

Abstract

Web 3.0 propelled a whole new version of internet, and many new exciting & innovative projects are coming up. But many firms are still applying conventional strategies rather than creating new frameworks to take advantage of its features. The defining characteristics of new Web 3.0 model are decentralization, ubiquity, connectivity, permissionless and trust less. As Web 3.0 continues to gain popularity, its time to analyse in-depth the methods of building & capturing the value in Web 3.0 world. The 3 major issues with GTM in web 3.0 world were, (1) Conventional GTM strategy will not work in the Web 3.0 world. (2) Will GTC (Go to Community) strategy works instead of GTM? (3) How to build a comprehensive GTC Strategy? Since the transformation made by Web 3.0 is so massive – it modifies the way of creating, capturing & distributing value - so conventional go-to-market plan won’t suffice. Instead, a conventional GTM strategy attempts to detail the steps to acquire customers for a new product launch. In this strategy, the user can benefit by using the product in exchange for payments. The consumers can provide feedback on product or services to the firm, and they act up on it. So, GTM strategy is centralized by nature because it is defined by a group of people, typically the employees of the company. So, the conventional way is top-down, where the corporations are the dictators in control of value creation. But web 3.0 projects work bottom-up. Communities are the primary way to successfully enter the Web 3.0 space. Most Web 3.0 organizations have a mindset of community before profit & lead through building, maintaining & improving the spaces. What majorly drives the success of Web 3.0 is the community because communication between its members is the key for organizing themselves towards achieving a common purpose. So, our project mainly focuses on devising key strategies of GTC for the companies in Web 3.0 space.