As we build the next era of digital reality, some elements of Web 2 just won’t cut it. However, the language chosen to communicate the promise of the space will determine accessibility and inclusivity for the public.
Web3 is here, it is now and it is the real future of our digital life. Already major, global sectors have found ways for Web3, crypto and blockchain integration. As this new technological age progresses, industry crossovers will become the norm.
However, if the space wants to appeal to the masses. It needs to reflect a key component of our societies: diversity. The world is not a taste. It is a place full of competing and complementary ideas, interests and understanding. People are not all fans of technology or finance. However, everyone can benefit from the power of decentralized solutions, financial or otherwise. They just need to understand how.
Currently, there is room for improvement in the fintech industry, according to the findings of the report on Diversity of Fintech Diversity Radar (FDR) 2021.
As a digital advancement, it will be a major responsibility of the tech industry to value information and users beyond its initial audience. This can be done effectively through the language that is chosen to represent the space as a whole. Despite global language barriers, there are ways to market the space, creating a more recognizable Web3 world for all.
Spoke with BeInCrypto lexi shortDeversiFi’s chief marketing officer, to better understand his vision for a genderless, borderless Web3.
not only a man’s world
Like Lexi, many women are joining the crypto space as both investors and pillars of the workforce. However, despite their welcoming allies, initial observations of space yielded unfamiliar jargon and identities. “I’m really interested in blockchain, but it scared me. It felt too masculine and too technical, didn’t feel like there was anywhere I could add value.”
“I think some of my early challenges in space were exacerbated by the fact that I’m a woman. I probably had a little bit of imposter syndrome. At first I wasn’t into finance or tech. The financial language and the jargon itself was confusing. So I got to learn a lot about the work, about the real market.”
Being male dominated by financial opportunities, both traditional and decentralized, both language and culture reflect this. “One of the things that stands out to me is this ‘bro culture.’ Obviously, I spend a lot of time on social media because of the marketing. I think we see a lot of it there.”
demystifying jargon
However, if these financial “cultural” nuances are clarified and redirected towards common understanding, not only women but anyone outside the traditional fintech profile could find their feet.
“In the beginning, I didn’t understand what people were saying, because of the slang and terminology. When someone explained it to me in traditional English, I was like, Why don’t we say that? Like, why do we call produce farming? Why don’t we say earn interest on your investments? Then everyone will know what that means.
“There’s such a ‘maxi tradition’ to the community side of it. A core group of crypto enthusiasts who, I believe, elevate the status of the jargon.”
“I think it has become a habit in the industry to use this language and continue to use it, it keeps people from getting involved. It is one of the reasons I think the founders wanted to add me to their – To adapt the language.”
Marketing in a Decentralized World
However, if the language of the entire industry should change, marketers have an uphill battle ahead of them. Also, as Lexi points out this is not only a new language dynamic, but brand new, Web3 native marketing methods.
“To understand how we can combat some of this, it is good to take a step back and understand the difference between Web2 and Web3 from a marketing perspective.
From a traditional marketing background, the funnel shape you look at is reach and brand awareness, engagement, acquisition and retention. In Web3 you have to look at each step of the funnel differently. The type of tool you use for partnership is not traditional. It’s more about the integration and the access you provide.
There are also many differences in the way we look at engagement. Engagement is more around the access point community. Then the general growth hacking strategy is about liquidity, mining and tokenomics.” Lexi argues that marketing in Web3 follows a new, play-as-you-go playbook.
“The point is, tools that work for Web3 make a huge assumption about the user’s knowledge base. To essentially understand DeFi or crypto, you need to have a wallet, and you understand that funds Fragmentation and wallets are huge barriers to what I would consider like the next billion users, which we should all be focusing on as an industry.”
Anonymous User Persona and Privacy Protection
It’s hard to know much about a user’s identity in an industry that prides itself on privacy and anonymity. Marketers like Lexi, who rely heavily on personal data, must adapt their methods and the changing consumer paradigm.
“One of the biggest challenges in Web3 is defining our users. With self-custody, and like data owned by the user, comes the major issue of user identity. Traditional marketing, for example email addresses, Facebook and Twitter accounts, give identifiable data, so you can build an overall personality. ,
In the present, Lexi finds herself inventing consumer personas in the dark.
“Extrapolating user types is what I’m trying to do now, which is a very different way than I’ve traditionally done. In DeFi, I know nothing about these individuals. I can see on-chain I can see the accounts and try to isolate the kind of connections and other chains they are on. Although really, you only know what the user allows you to know. The challenge is that we One can make assumptions about its users, and through platform metrics, financially, but imagine them as people, where real profit is really difficult from a marketing perspective.
“How do we protect privacy while learning about people and giving them what they want? That’s the crux of my challenge.”
diversification for diversity
An important aspect of industry transformation certainly comes from gaining a more diverse and globally representative user base. However, the same goes for the people behind the scenes.
“I believe in a borderless, genderless brand. I, as CMO of this company, position myself to be a brand internationally for people, for women, for anyone who wants to use it and Make the platform accessible.
It is becoming easier to understand the opportunities that crypto offers to the world. It also comes with “outsiders” or other people, sometimes people from unrelated industries, coming into the space.
“From a recruiting perspective, I am working really hard to bring in women. Many of the people who are now moving into senior roles are coming from outside crypto. This gives an opportunity to bring women into different areas of expertise.”
For those involved as outsiders, as Lexie herself did (previously in the charity industry), she says it’s important to believe in yourself. “Trust the expertise you’re bringing in, because there really isn’t a field, business development, marketing, or even technology that’s done properly yet. It’s all too early And nobody’s really nailed it. From my point of view, the more experience you have, the better because you challenge it.”
learning together
The revelation of jargon and the breaking of already imposed industry barriers allows the ecosystem of the decentralized world to learn more. “Both men and women will be terrified of connecting with cutting-edge technology. But there are a lot of applications that we haven’t even discovered yet, which I think is really exciting. ,
Lexi said, she felt it was a place that was constantly growing, evolving, and learning that she felt the freedom to ask complex questions. “It’s been an upward curve. But everyone in this area is learning. Once I realized that, I felt less embarrassed to ask questions. I had already assumed that because they were men and women.” They were developers, they were just DeFi giants and they knew everything. But in reality they didn’t. Our founders are still learning every day.”
“I threw myself in. I wanted to use all the chains and wallets. My funds got stuck after I used the bridges. I tried spot trading. I needed to understand and I couldn’t do it without trying.” can. ”
Some of his influences, such as Moana from Enzyme or Samantha Yap at YAP Global, said DeversiFi’s CMO, encouraged him to jump on the crypto train and learn.
“YAP Global’s Sam said something to me when I started, which really stuck with me. Crypto is like a fast paced training, you just have to jump in and keep going and there’s no looking back “