Personalization has become the cornerstone of an effective marketing strategy. It empowers businesses to provide more tailored and relevant experiences for their customers.
Data also supports this — 83% of customers are willing to share their data despite data privacy concerns and 80% of them are more likely to make a purchase when a brand offers personalized experiences.
Moreover, personalization improves marketing ROI by 10-30%, according to McKinsey. It’s quite established, personalization helps businesses
Good thing is, these advantages also apply to crypto quests, one of the most popular crypto marketing strategies.
In one of our previous blogs, we discussed how brands can use crypto quests to engage users and build loyalty, and outlined how existing quest platforms don’t allow users to make the most of quests.
So, in this blog, we’ll explore how you can use a Web3 CRM to optimize crypto quests for best results.
But first let’s look at what a Web3 CRM is.
What is a Web3 CRM?
A Web3 CRM, or Customer Relationship Management tool is a platform that enables businesses to collect on-chain and off-chain customer data. It helps businesses get a holistic picture of the customer journey and offers insights to create more effective marketing, sales, and support strategies.
Some of the most popular Web3 CRM platforms include:
Holder.xyz aids web3 communities, DAOs, and businesses in understanding and engaging with their wallet audiences. It includes Web3-enabled forms, integrates with platforms like Discord and OpenSea, and segments audiences based on on-chain and off-chain data.
Absolute Labs is a Wallet Relationship Tool (WRM) that allows brands to tap into more than 500 million wallet profiles to mine new opportunities, and automate airdrops and cross-channel engagement.
3RM is a Telegram CRM that enables Web3 teams to keep track of chats, automate manual tasks like follow-up reminders, and share info about conversations so they can save time and be more productive.
Metacommerce offers tools to unify data across different platforms and automate Web3 tasks. It also provides insights and personalized experiences based on wallet holder data so brands can improve user engagement.
Raleon is a web3 CRM that simplifies the process of managing customer interactions and creating optimized quests.
It combines on-chain and off-chain data, which enables you to get unique insights into user behavior and engage customers with personalized quests. But that’s not all.
Raleon also doubles as a marketing automation tool and allows you to create user segments, track their user journey across web2 and web3, and target them with hyper-specific campaigns to drive more conversions.
What Does it Mean to Optimize a Crypto Quest?
To understand what it means to optimize a crypto quest, let’s look at quests from QuickSwap, a DEX operating on Solana. All of them aim to introduce participants to the exchange and familiarize them with its new features.
But instead of setting up four quests to cater to multiple user segments, QuickSwap can use on-chain and off-chain data to create an interactive quest that offers different tasks to users based on their behaviors and interactions.
For example, a newbie user using QuickSwap for the first time will automatically be introduced to the platform’s features through simple tasks like token swaps. But a user who has already interacted with the platform can access tasks that introduce them to more advanced strategies and features.
This level of specificity isn’t possible with existing CRM systems, which is where Raleon’s Embedded Quests come into play.
Embedded Quests are interactive challenges integrated directly within apps. They leverage on-chain and off-chain data to suggest actions the user must take to optimize user engagement and boost retention.
So, when a new user visits our website, they can interact with our quest and choose what they’d like to learn more about our services. ̑That means they don’t have to visit multiple platforms to complete generic quests that don’t offer substantial value.
Now that we’ve understood how data from a Web3 CRM can be used to personalize crypto quests let’s look at the types of data it has.
Types of Data a Web3 CRM provides
Web3 CRMs are designed to integrate with blockchain networks and utilize both on-chain and off-chain data to provide insights and manage relationships with users in the crypto space. Here’s a list of typical on-chain and off-chain data that Web3 CRMs might help you record:
On-chain data refers to information that is stored directly on a blockchain network. Here are some of the different types of on-chain data:
- Wallet addresses: Unique identifiers for users on the blockchain.
- Transaction history: Details of transactions made by a user, including tokens transferred, amounts, timestamps, and transaction fees.
- Token holdings: Types and quantities of tokens held in a user’s wallet.
- Smart contract interactions: Records of interactions with specific smart contracts, such as DeFi protocols, dapps, or DAOs.
- NFT ownership: Details about NFTs owned, minted, or transferred by the user.
Off-chain data refers to information that exists outside of the blockchain. It’s typically managed and stored using traditional databases or systems ans consists of:
- Personal information: Name, email, phone number, etc., if provided by the user during any sign-up or interaction.
- User preferences: Data gathered from surveys, feedback forms, or user settings.
- Online interactions: Engagement data from social media platforms and online communities, like comments, likes, shares, or mentions related to a project or platform.
- Event participation: Attendance or interaction in webinars, virtual events, or conferences related to the blockchain project.
Optimize Crypto Quests with Web3 CRM Data
Let’s look at how Web3 CRM data can be used to personalize quests for users.
LooksRare: Say gm to LooksRare
LooksRare is a community-first marketplace for NFTs and digital collectibles on Ethereum, allowing users to trade non-fungible tokens and earn rewards.
For season 2 of their Gems rewards program, the marketplace set up a quest consisting of the following steps:
- Understanding what Gems are
- Answering a quiz related to Season 2 quests
- Setting up a LooksRare profile
- Downloading the LooksRare app
- Sharing the quest
- Hitting a 3-day GM streak
The quest encourages users to log in to the platform for three consecutive days and promote it on social media to improve their user engagement.
However, to genuinely enhance user engagement, the quest should be tailored to each user based on their past interactions, preferences, and history on the platform.
If a user’s on-chain transaction data shows that they frequently participate in NFT trading and auctions, LooksRare could give them a discount coupon to use in their next auction so they revisit the platform.
They can also look at other dapps they’ve interacted with to create quests that resonate with their users. For example, a user active on DeFi protocols can be asked to stake their native token, LOOKS, to earn loyalty points or rewards.
LooksRare can prompt participants to fill out a survey after completing the quests to gather insights about the experience.
If feedback indicates that certain aspects, like a quiz, are challenging or instructions are unclear, the platform can make necessary adjustments to optimize the quest. This will further enhance user satisfaction and increase quest participation and promotion.
Cronos: Summer Cruise
Cronos is a layer-1 blockchain built by Crypto.com. Its Summer Cruise quest encourages participants to complete various tasks to earn rewards through airdrops and quest-themed NFTs, and the key activities consist of:
- Registering the Cronos wallet address to start counting transactions.
- Engaging with Cronos on Twitter (following, liking, and retweeting).
- Joining the Cronos & Crypto.org Chain Discord.
- Topping up at least 10 CRO into the wallet on Cronos.
- Completing a minimum of 10 on-chain transactions on Cronos.
- Trading on platforms like VVS, Ferro, Fulcrom, or Minted.
- Locking CRO to earn on platforms like VVS, Ferro, Tectonic, or Fulcrom.
- Staking CRO on Veno.
- Owning a Cronos ID domain.
The quest was intended to reacquaint users with the Cronos ecosystem, but it focuses predominantly on DeFi protocols and overlooks users’ interests in NFTs and Web3 games.
But with a Web3 CRM in place, Cronos can obtain information on the tokens a user holds and the dapps they interact with. This would help Cronos understand what each user is interested in and it can then tailor quests and rewards that align with every individual’s preferences.
For users primarily interacting with specific dapps, like DeFi protocols, the platform can curate quests that introduce them to new features within the protocols they use.
On the other hand, if the user has engaged with a diverse range of dapps like Web3 games and NFT marketplaces, the platform can introduce them to other similar dapps. For example, a user who engages with Web3 games can be introduced to similar games within the Cronos ecosystem.
The platform can go one step further and monitor social media and community interactions to keep quests relevant and engaging.
For example, if there’s a surge in discussions about a new NFT artist, they can collaborate with the artist and introduce a task like “Explore the new NFT collection by [Artist Name] on Cronos.”
Solend: Money Markets on Solana
Solend is a DeFi lending and borrowing platform operating on Solana. Its quest introduces users to the protocol and involves four simple steps:
- Learn what Solend does.
- Connect Solana wallet to Layer3.
- Deposit on Solend
- Follow Solend on Twitter and retweet its post.
The quest provides a set of general steps for participants to follow but it can offer more engaging experiences and ensure that they find value in the quests they undertake with a Web3 CRM.
For starters, Solend can determine if the user is a beginner, intermediate or advanced user by analyzing their transaction history and suggesting quests accordingly.
In addition to this, it can identify dapps their users frequently interact with and create quests with them to increase user acquisition and engagement.
For example, if a Solend user also uses Serum, Solana’s DEX, they can design quests that educate users on how they can borrow assets from Solend and use them to provide liquidity or leverage arbitrage opportunities on Serum.
Another way Solend can improve user engagement is by assessing which feature announcement posts received the most retweets and mentions on social media.
If certain features garnered more engagement than others, Solend can incorporate tasks related to those specific features into their quest.
NFTFeed x mintBase: OAT Giveaway
NFTFeed improves the liquidity of NFTs by letting users lock them in a liquidity pool and receive LP tokens which they can use to trade, stake, or provide liquidity on other DeFi platforms.
In a strategic move, NFTFeed partnered with mintBase, an NFT minting platform operating on the NEAR protocol and set up a quest to acquire users interested in NFTs and DeFi strategies. To complete the quest and earn On-chain Achievement Tokens (OATs), users had to perform the following steps:
- Follow NFTFeed and mintBase on Twitter.
- Join the NFTFeed and mintBase Discord community.
- Visit NFTFeed’s INO event
- Vist mintBase’s Zealy
- Retweet a tweet from NFTFeed
- Refer friends to participate in the NFT campaign.
While the collaboration is a step in the right direction towards personalization, integrating a Web3 CRM can further amplify this aspect.
Since a CRM offers data on users’ NFT ownership history and their preferences based on community discussions and online content they engage with, NFTFeed can offer rewards that offer value to participants.
For example, If users are interested in collecting art-related NFTs, offer them exclusive access to virtual art events in exchange for completing quests.
Setup and Optimize a Crypto Quest with Raleon
With personalization gaining more importance in the digital world, traditional crypto quests and Web3 CRM platforms are falling short in creating personalized quests that resonate with their audience.
Raleon’s Embedded Quests eliminate these shortcomings as it leverages on-chain and off-chain data to create quests that optimize user engagement, foster loyalty, and drive meaningful interactions. Check out how Embedded quests work by signing up to our platform today.